A business leader can directly impact three levers of performance:
The strategy—where and how the firm competes, and where it chooses not to compete
The talent of the top team—the executive team that will build and direct the activities of the organization day-to-day
The shape of the organization—how power and resources are allocated to influence the decisions that are made and the work that is executed
Strategic decisions are first and fundamental. No amount of talent or organizational execution will overcome poor investment decisions. Talent and organization, however, equal strategy in importance. Strategy without a clear path to execution wastes the creative energy of the company's employees (Bossidy, Charan, ...