CEOS Make ‘Strong Execution’ High Priority In 2007

As CEOs develop their growth strategies for 2007, a top priority focuses on the strong execution of all major business processes, according to the Grant Thornton LLP Survey of U.S. Business Leaders, 14th Edition. Almost two-thirds of respondents (63 percent) say they are putting more emphasis on strong execution today than a year ago.

More than eight out of 10 (83 percent) survey respondents place the quality of execution throughout the organization among their top three priorities.

“The CEO must be the spokesperson for the power of execution, especially regarding how it impacts the customer’s experience with the organization’s products or services,” said Thomas Rotherham, Grant Thornton’s U.S. managing partner of client services. “The CEO is also tasked with establishing the quality of execution as an important element of the strategic business agenda and communicating with the entire organization about the challenges to be faced and actions to be taken.”

Business leaders recognize that special challenges must be faced to achieve strong execution. Half of the respondents find that putting the right leaders in place (50 percent) and getting everyone in the company moving in the same direction (47 percent) can be a major challenge. Other challenges include putting the right skill set in place (40 percent), instilling the passion to execute well (36 percent), and making it simpler for people to execute (31 percent).

“For employees to understand their role in executing the company’s strategy, communication needs to be frequent and pervasive throughout the organization,” said Rotherham. “This includes dedicated communications aimed at instilling a sense of unity around what the company is and where it is going.”

You may like these other stories...

2014 has marked the fifth consecutive year in which the percentage of US-based internal auditors who earned bigger paychecks increased, according to a new study from the Institute of Internal Auditors (IIA).This year, 92...
A new survey from online accounting software provider Xero found that nearly 90 percent of small businesses are forecasting an increase in revenues next year, while 21 percent are expecting growth of more than 100 percent....
Drug patents held overseas can pare makers’ tax billsAs the Obama administration tries to stop companies from avoiding taxes by moving their headquarters overseas, the makers of some of the world’s most lucrative...

Already a member? log in here.

Upcoming CPE Webinars

Oct 9In this jam-packed presentation Excel expert David Ringstrom, CPA will give you a crash-course in creating spreadsheet-based dashboards.
Oct 15This webinar presents the requirements of AU-C 600, Audits of Group Financial Statements (Including the Work of Component Auditors).
Oct 21Kristen Rampe will share how to speak and write more effectively by understanding your own and your audience’s communication style.
Oct 23Amber Setter will show the value of leadership assessments as tools for individual and organizational leadership development initiatives.