Small businesses have a big advantage in their ability to act more quickly, rather than being mired in corporate politics. One of the reasons Amazon has been so successful is that they have ingrained in their corporate culture the ability to respond quickly, with fewer layers needed for approvals. In the other words, they know how to ‘execute’ and ‘get things done’.
For example, they were able to respond within hours to news of Michael Jackson’s death by featuring his recordings.
Execution is the result of a culture that rewards initiative, rather than fear of making a mistake. Since strategy execution is emerging as one of the critical sources of sustainable competitive advantage in the twenty-first century. As a result, it can no longer take a back seat to strategy formulation.
To stay in today’s competitive market, companies need to ACT, such as managing the development and implementation of a portfolio of initiatives, synchronizing internal processes with market rhythms, and avoiding disruptions by handling the ripple effect of organizational change etc.
Act now and then correct a mistake later if necessary. There’s a danger in a “Paralysis of Analysis” where nothing happens.
In below this video interview, conversion expert Bryan Eisenberg speaks from his own passion about the importance of companies learning how to execute and get things done. It worth your time to watch it.