Creating a plan for a new enterprise is important, but successful execution is essential. Execution is a discipline for connecting strategy with reality by aligning goals and people to achieve the desired results. Execution is about turning a concept into a great business.
New businesses move from startup to growth to maturity in stages. Managing a new business through these stages requires different skills and organizational arrangements. Startups need to plan for having the right people in the right positions as they grow.
Organizations, like people, need to learn and adapt to change. Organizing for recognizing and responding to challenges can build resilience and responding to challenges can build resilience in a startup firm. The ability to adapt to change may be the most important sustainable advantage. Furthermore, to achieve long-term success, a firm needs an ethical base for action.