How efficient is your execution?
The objective of execution in a business wide context is ensuring your team is efficient as possible, with the result being that the profit generated during the sale, is carried through the organisation and is not lost via poor efficiency. Another way to look at it is that the profit transitions all the way down the Profit and Loss report from revenue through to the bottom line and the minimal amount is lost.
A great analogy for outstanding execution is to view a Formula 1 pitstop and consider the difference between the efficiency in execution observed and how your team performs – metaphorically. Then to consider the difference between where you are today and what your company looked like if you executed even a little more like todays F1 teams.
In this video we compare the difference between a 1950 Indianapolis and a 2013 Melbourne F1 pitstop. 67 seconds vs 2 seconds.