Highlighting the importance of execution to achieve organisational targets, Vinayak Deshpande, former MD Tata Projects Ltd, the man behind New Parliament Building said, “Execution excellence is the key to success of any organisation. Companies that excel in execution achieve significantly higher revenue growth, adding more value to the overall economy.” Deshpande was speaking on the topic ‘Execution is the key to success’ at a session on the third and last day of CIMCON’26 at IIM, Nagpur campus, on Sunday. Deshpande said that execution is the ability of an organisation to consistently translate strategic intent into actions, decisions, and outcomes. While strategy defines the direction, execution determines whether the organisation achieves it objective. Deshpande elaborated three core elements of execution. First execution is a discipline.

 

Second it is a major job of organisation leader to take action and get things done. Third execution should be core element of organisation culture. “Strong execution involves implementing new technologies and R&D effectively. Companies that successfully execute digital transformations are more likely to achieve 10x growth in 10 years,” he mentioned. Highlighting that execution of a construction project can be compared to execution of business plan as timely completion can save costs and raise profits.

 

Successful execution of plans and strategies also leads to business expansion and growth. Companies that implement Six Sigma practices can reduce waste and improve efficiency in organisation. Further, application of efficient work process reduces errors and inconsistency. From his rich experience of 24 years working on prestigious construction projects all over the world and the most recently the New Parliament Building, he learned numerous things which he shared with the gathering. Deshpande also said that organisation leaders should judge loyalty of an individual based on their performance. Leadership with emotion and trust can do wonders as everyone in the organisation gets aligned with the objectives which results timely completion of projects. Prashant Godbole, Founder Member of CIMCON’26 moderated the session.