ABSTRACT
Managing execution takes hard work, sweat, and practice. Strategic plans are just good intentions until followed up with hard work and determination. The perfect execution plan is one where every employee comes into work each morning, knowing how his performance will contribute to meeting one or more institutional objectives (IOs). The strategic performance management process starts at the senior management level by developing annual IOs that support the strategic thrusts listed in the strategic plan and establishing key performance indicators to measure whether the objectives are being met. Execution has to be built into a company's strategy, its goals, and its culture. Many a good strategy has failed from poor execution due to senior managers who "abandon" their direct reports once performance objectives are developed. It is the responsibility of the senior manager and architect of the strategy to ensure not only that the strategy gets translated into actionable objectives but also that performance is managed.
