3 distinct concepts

In executing your strategy, there are 3 distinct concepts to consider. These are often used interchangeably, so a clarification is in order:

• Business savvy: If you have this you have a keen understanding of business models (how is money made?) and problem solving.
• Leadership: If you display leadership behaviors you can prevent and resolve conflicts, influence your audience and look/behave/speak/smell like you are in charge.
• Decision making: This is the spark that starts the fire. The best ideas, the most detailed plans, the intentions and vision are all for naught if no action is taken. Decisions are the ignition to action.

Each of the above areas is a distinct competence and often go together. Usually people with business savvy are good decision makers as well. Leaders are often business savvy, they know how to get things done and what ideas will work.

If business savvy is missing, you will lose money. If leadership is missing, your ideas will not be accepted. If decision making is missing, inertia and rigor mortis sets in.