Strategy or Execution: Which Is More Important?

Most would agree that you cannot achieve good results without having good execution; similarly, most would agree that having a good strategy alone is no surefire formula for success. But too many jump to the wrong conclusion that this makes execution more important than strategy.

As any seasoned strategist knows that strategy is not just sloganeering. It is the series of choices you make on where to play and how to win to maximize long-term value. Execution is producing results in the context of those choices. Therefore, you cannot have good execution without having good strategy.