Strategy v. Execution

Which is the more important role in your job: strategy or execution?

The Wall Street Journal posed the question to members of its CEO Council, a group of 100 top CEOs first convened in last fall.

Most CEOs could not select one or the other; although, many agreed CEOs should spend more time on strategy while hiring others to focus on execution. One concern in certain industries is creating strategies which are flexible enough to change easily if they do not work.

The CEO's job is to determine vision, identify strategies, and ensure execution. Of course, they do not do any of those alone. The three jobs are accomplished with teams of people.

Whichever is important in your job, success comes down to people. A company could have a compelling vision and smart strategies, but if people are not excited about them, they will not happen.

Strategy or execution? I think it's a trick question. The answer is "People."