What's more important

What's more important - Chapter 3.2 Itsanageoldquestion.,...

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Chapter 3.2 It’s an age-old question. It’s easy to say that companies need to do both, but there are times when one -  strategy or execution - is more critical than the other is. Knowing which one to focus on is the key. Here are a  few examples of how it works … and doesn’t work. When  HP  hired  Carly Fiorina  to take the company forward, they truly believed the company needed a bold  new direction and new strategy to get there. They thought the company had lost its way and needed a “rock  star” leader to show the company “the path.” They couldn’t have been more wrong. Seven years later Fiorina was out and new CEO  Mark Hurd  had  managed to pull off one of the most effective turnarounds in corporate history. Sure there was some strategy,  but he did it primarily with basic management blocking and tackling. He did it with no-nonsense discipline, by wringing out expenses and improving efficiency, and by putting the  right people in key decision-making roles and empowering them to do what it takes to improve operating  results. Carol Bartz’s      top-down restructuring of      Yahoo      was also very much an operational change.    On the other hand, companies sometimes need new strategy.  IBM  was getting ready to split itself into pieces  when  Lou Gerstner  showed up. Gerstner transitioned IBM from big iron to IT services, a gut-wrenching  strategy change for a company of that size. Of course, there was a great deal of execution needed to 
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This note was uploaded on 01/13/2012 for the course 620 300 taught by Professor Gordon during the Fall '10 term at Rutgers.

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What's more important - Chapter 3.2 Itsanageoldquestion.,...

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