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We’ve talked about the first three parts of winning: defining your purpose and goals, developing and deploying a strategy to reach those goals, and executing your strategy through every level and person in your organization. We also demonstrated how to build a continuous improvement culture. With those elements in place, it’s time to discuss the next aspect of your plan: governance.

Governance is the glue of operational excellence, the consistent practices that keep a company executing its strategies and continuously improving. Strategies are a bit like physical therapy. Tell a physical therapist that “it hurts when I do this,” and the therapist ...

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