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The Corporate CounselorLJN NewslettersNewsSections

Counseling Corporations on Execution

By ALM Staff | Law Journal Newsletters |
February 26, 2008

'Vision without execution is hallucination' ' Thomas Edison

When things go wrong, is the problem in our vision or in our execution? I observed that boards of directors facing disappointing corporate performance frequently do one or more of four options: change the CEO, reorganize the structure of the company, change the strategy, or adopt new business initiatives. Recently, Edward Lampert at Sears announced all four of these changes at the same time. Senior executives realize that they do not know how to change the firm's ability to execute their business plan and at some point search for some way to devise a successful plan that the current organization can implement. It is often unrecognized that the source of the disappointing performance is the corporation's failure to execute its current strategy.

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