Steve Watula working in the Price Factory

The Price Way:
Execution

Defaulting to Action and Knowing Your Current Reality

Price is celebrating its 75th anniversary throughout 2024, and our commemoration of this milestone will dedicate special attention to the 13 tenets of the Price Way. Each post in this blog series explores one of these guiding principles, giving our blog readers a closer look at its meaning.

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Execution in Action

At Price, execution means defaulting to action without fear of failure. We can do this because our high-speed execution model, developed and perfected over the years, ensures success. We stay informed by going straight to the source: to our frontline team members, to the raw data, to the depths of the details.

We must know our current reality, without bias, and pay attention more to how our key metrics are trending than to their absolute values. Armed with this information, we adjust our course as needed. We may start the year with a detailed plan, but we review it regularly to incorporate new information and to deal with roadblocks as soon as we encounter them.

To us, the question isn’t “Can we do this?”; it’s “How can we do this?” What sets us apart from other businesses is our ability to find out how.

“Execution, like operations, is ever changing and depends on quick adaptability. With good leadership and thorough communication, execution is creating a plan, assigning actions to follow the plan and assigning a champion to those actions. Execution is teamwork!”

– Alex Ferrell, Value Stream Manager for GRD
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