Balancing Strategy vs. Execution

Execution per se is strategy. Strategy again is an 1)environment 2)tactics3)plan and 4) a target. Once you have these sorted out then you are executing.

For example, if the idea behind a country is to supply goods and services in standard form to consumers (to elicite welfare) then they come out with a strategy, the execution of which works out as a 1) welfare environment 2) proper commercial laws stipulating playing fields of manufacturers and service providers3)spreading of the science of marketing through academia (skill transfer) 4)a science of marketing where it enlightens the tactics of price, product, place, period and promotion and adequate tactics for the vendors like segmentation, targeting and placing to serve different clusters of consumers and to make sure that they get their products in time 5)regulations and infrastructure like good roads and bridges for transportation and logistics so that the marketer can go about unleashing a serious marketing strategy at the consuming populace. Competition laws like antitrust laws.

Fianlly the target is the satisfied consumer who keeps the economy moving, who gets his pay from employment generated through regulations and who keeps coming back for more consumption year on year end. Of course regulation include marginal pricing where by no industrial division is dwarfed by another by cannibalising others consumption so that the consumer has enough resources left for all his consumption in all divisions. Low inflation, higher employment rate, pricing based on marginal pricing so that the income and cost effects of demand and supply are taken into consideration, which prevents cannibalising of other industrial divisions etc;.

So we see that execution is not simply strategy alone, it is working together of the nation as a whole with regulators, the manufacturers, households, markets and academia in partnerships each creating their on tactics which complements each others outcome which ultimately work out the common goal of the nation, which can be to 'improve the wealth of the nation'. No moral hazards, no adverse selection on the pathway.