Execution Excellence Delimits Business and Stock Strategies

A poor strategy with disciplined execution is better than a superior strategy that remains on paper.

Crafting strategy takes time and money. It is better to focus on operations if commitment to abide by agreements are lacking.

The best way to implement strategy is to make action plans. The latter should identify responsible people, and set quantity, quality, cost, and time targets.

Management by Objectives (MBO) is a rather old-fashioned but highly effective way of ensuring implementation discipline after strategy has been agreed.

MBO is ruthless and exposes all cases of prevarication without mercy. Perhaps that is why MBO has gone out of fashion in modern offices staffed by salaried personnel.

MBO life is easier for stock investors because they work alone or in small groups.

Let us start a new series tomorrow on MBO for stock investment.