Not only execution but execution in the right direction. Amazon succeeded in part because they picked a target (sheer volume and efficiency) and drove singlemindedly towards it. Ditto companies like WalMart and FedEx.

Other companies have executed as well in orthogonal directions (I'd argue that both GM and Microsoft are marketing companies with vestigal engineering organs) and not done as well long-term.

I suppose that's where the vision comes into play; you have to see the target to aim.