3 things every good business has:

I was told of business man asking a highly regarded consultant, "What is the one thing all good businesses have?" The consultant thought about it for a couple days and came back and said, all good businesses have these three things:

1. Priorities: The priorities of the business are clear and defined. There is effective communication on what is the most important priorities of the organization. Everyone is on the same page. The effective organizations also make sure they have the "correct" priorities defined and are working on the most important things. This is at the heart of execution. To have excellent execution, you must first define clearly what is it that needs to be done and in what order.
2. Tolerance: All great organizations have tolerance levels set that are clear and defined. Once the priorities are set, the next step is to define the tolerance levels for those priorities. Example: A priority is to gain 12 new customers per month. The next step is to clearly communicate the tolerance level for hitting/not hitting the defined priority.
3. Stewardship: There is a clear presence of stewardship in the organization. This is managements responsibility to properly utilize and develop the talents of the team. There is a clear vision of putting people in the position to win where by the entire team then makes the company better for the next generation.