Resetting execution for a time of crisis

The Three Core Processes of Execution

• Strategy
• People
• Operations

Dimon(JP Morgan) vs Prince(Citi) Dimon below principles:-

• Clear Profit-and-loss responsibilities for each division of the bank down to the lowest levels feasible.
• Evaluate people from complete world.
• Invested heavily in information technology.
• Rigorous compensation policies - Earned vs Award.
• Intense effort to discovering and managing risk.

Prince below principles:-

• Lacked Dimon’s operating experiance.
• Failed to understand business and people.
• Didnt get much-needed advice from senior executive.
• Didnt understand the business risks from new,exotic financial products.

The Seven Essential Behaviors

• Know your people and know your business.
• Insist on realism.
• Identify clear goals and priorities.
• Follow-through.
• Reward the doers.
• Expand the peoples capabilities.
• Know Yourself.

Introduction

• Execution is a disciplin, and integral to strategy.
• Execution is the major job of the business leader.
• Execution must be a core element of an organization’s culture.

Chapter 1 - The Gap Nobody Knows

For you as a leader, moving from the concept to the critical details is a long journey. For you as a leader, moving from the concept to the critical details is a long journey.

Chapter 2 - The Execution Difference

Each of the previous three companies we’ve talked about was once an icon of American business. Xerox, Lucent (as Western Electric and Bell Labs), and EDS created their industries, led them for years, and once were the companies against which competitors benchmarked themselves. Today two are struggling to recapture a small fraction of their former glory, while the third has regained its luster and aims to lead its industry once again. The difference? Execution.

Chapter 3 - The Leader’s Seven Essential Behaviors

The Seven Essential Behaviors

• Know your people and know your business.
• Insist on realism.
• Identify clear goals and priorities.
• Follow-through.
• Reward the doers.
• Expand the peoples capabilities.
• Know Yourself.