Product Description

Larry Bossidy is one of the world's most acclaimed CEOs, with a track record for delivering results that has few peers. Ram Charan is a legendary advisor to senior executives and boards of directors, with unparalleled insight into why some companies are successful and others not. The result is the book people in business need today. Leaders who create execution cultures focus on five key items: 1. They pick specific priorities for their businesses and set clear timetables for achieving them. 2. They assign the projects to the right people and groups - those whom they know can execute them. 3. They set milestones and conduct hard-nosed interim reviews. 4. They measure their peoples' performance according to the outcome of the projects, including the interim targets. 5. They link everything, from the original priorities to the milestone and performance measurements, to external information that reflects marketplace realities.

Product Details

• Amazon Sales Rank: #28151 in Books
• Published on: 2002-09-05
• Original language: English
• Binding: Paperback
• 288 pages

Jack Welch
"A great practitioner and an insightful theorist join forces to write a compelling business story of 'how to get it done'."

About the Author
Larry Bossidy is chairman and chief executive officer of Honeywell International, a Fortune 100 diversified technology and manufacturing leader. Earlier in his career he was chief operating officer of General Electric Credit (now GE Capital Corporation), executive vice president and president of GE's Services and Materials Sector and vice chairman of GE. Ram Charan is a highly sought advisor to CEOs and senior executives in companies ranging from start-ups to the Fortune 500. Dr. Charan has taught at both Harvard Business School and the Kellogg School of Northwestern University. Charles Burck is a freelance writer and editor. Earlier in his career he was an editor at Fortune magazine.

Customer Reviews

Tips for the CEOs and Group Heads of Large Conglomerates
Larry Bossidy is clearly a five-star leader, and Ram Charan is a gifted consultant and teacher. It surprised me that their book didn't work as well as I had hoped.

Execution's title misled me. Hopefully, you won't have that problem. I thought Execution would be all about how to take a strategy and operating plan and implement them well. That's not the case.

I also thought Execution would apply to all business people. Instead, the context for most of the AlliedSignal (Honeywell International's name when Mr. Bossidy became CEO there the first time) and General Electric examples which dominate the book is that of the CEO or group executive to whom divisions report in a large conglomerate. In this sense, Execution is like reading the latter chapters of Mr. Welch's book, "Jack."

The main difference between "Jack" and "Execution" is that "Execution" tries to build a framework for the book's concepts while sharing examples (mostly of failure) from other organizations. Mr. Charan's sections of the book mostly focus on that positioning. Mr. Bossidy mostly tells about his own experiences at AlliedSignal and Honeywell. Mr. Bossidy, of course, worked with Mr. Welch at General Electric for many years. Mr. Bossidy reports that you could take execution for granted at GE, but that it was lacking at AlliedSignal when he arrived. The two coauthors alternate in providing long monologues on the chapter topics and subtopics.

Three aspects of Execution are valuable to almost any business leader: how to hold a strategy review (chapter 8), building an organization (chapter 5) and the "Dear Jane" letter to a new leader (conclusion).

For those who would like to become CEOs and heads of divisions of large, disparate organizations, Mr. Bossidy's many anecdotes from his experiences at Honeywell International about how to do the leader's job will provide a valuable model that can be used repeatedly. In many such organizations, there are no good leadership examples and this book can help fill the gap.

Execution addresses these problems: First, many company and division heads have little knowledge about the businesses or the most important functions and processes needed to prosper. Boards, for example, often bring in a brilliant person who has performed as a "role player" elsewhere, and they cannot scale up into the CEO job. When a company has had poor leadership, its processes and organization also become weak and it's hard to get anything done. It's hard to fix that problem. It took years at AlliedSignal and can be quickly lost (which happened in the two years after he retired the first time). That's why Mr. Bossidy had to come back to restore execution (as he means it) at Honeywell International. Lacking these perspectives, the business system is misdirected (see The Fifth Discipline).

Second, many leaders make bad assumptions about their circumstances. Acting on those assumptions makes matters worse.

Third, companies plan to pursue strategies for which they lack the processes and organizations to implement. The strategies need to match the ability to execute.

I was uncomfortable with many of the examples. The unending praise of Dick Brown at EDS didn't seem to make any sense knowing that EDS's stock melted down and he was asked to leave. He was in big trouble when "Execution" was written, having encouraged his people to grow by taking on large, unprofitable new accounts. It seems like he might have been executing the wrong strategy, one that couldn't be executed. Most of the "failure" examples are anonymous which makes them less credible and less compelling. Finally, Dell is heralded for executing very well (which it certainly does). However, in describing how the company has evolved its business model to outperform competitors, "Execution" fails to notice that its business model innovation has been essential to success. No competitor has this strategic advantage.

I suspect that you would do better to read Good to Great for getting ideas related to improving effectiveness.

After you finish this book, ask yourself what one thing you could improve would make the most difference in your organization's performance over the next week, month, quarter, year and three years.

Nothing new
Having been recommended this book as something novel, I was eager to read. Unfortunately I was bitterly disappointed. The book as a rambling tale of success and failure akin to an autobiography. There is no scientific structure and no isolation of cause and effect to enable lessons to taken away and applied, e.g. this guys business failed because he didn't execute, another guys succeeded because he did?

This book is generally a tale of good management practices such as setting clear goals, managing through to delivery and taking time to understand problems rather than shouting about missed targets. Unfortunately the business world is more complex than merely substituting the word 'success' for 'execution'.

Useful for employees too...
Tremendously motivating, even as an employee. And good news, if you care to decipher the hidden message.
Even if you're not a CEO (I'm not a CEO) this book bequeaths two gems. First the signal that management also need to get knee-deep into the complex stuff. Second that management need to pay attention to deep-seated experience, to nurturing skills, to alleviating weaknesses and to catering to the human needs.
I had erroneously assumed that the 'noughties' would be a continuation of the trend of the 'nineties' that staff are dispensable and substitutable at will (having seen in that decade one or several UK managers doing very well for themselves out of draining the staff below). So I take this reading of the coaching and building - and applying pressure - by management as tremendously encouraging.
This book tells me as an employee what cards I can play. It outlines the needs of my clients, the managers. Each employee should read it twice.