The ability of a company to survive and thrive depends mainly on the selection and execution of its strategy. However, there are few scientific studies related to the topic of strategy execution. The academic literature on how to conceptualize and measure the strategy execution construct is scarce. Most of the material published about the construct comes from consulting studies or practitioner-works. However, in order to develop theory about the antecedents and the consequences of this construct it is to have a sound conceptual delimitation and a set of validated operational measures. In this study, the domain map of the strategy execution construct is thoroughly investigated and two models are advanced: the conceptual model and the operational model. Both models were developed from a qualitative approach which interaction between the literature, the judgment of academic experts and the encompassed opinions of senior executives. The conceptual model advanced here is composed of seven dimensions. The causal relationships between each of the seven dimensions and the construct indicate that changes in one dimension cause change in the construct, suggesting a formative perspective. The operational model is composed of 27 indicators distributed across the seven conceptual dimensions of strategy execution. All dimensions had at least three indicators each. Both the conceptual and the operational model should be regarded as preliminary, pending empirical validation and refinement in future studies.