It does, among other things.
Executive function helps you:
--Multi-task
--Concentrate on one thing rather than another (rather than involuntarily having your focus all over the place or on something you don't want it to be on)
--Switch from one activity to another
--Organize your environment and your thoughts
--Follow directions
--Do something in a systematic manner
--Inhibit impulsive actions
--Start and stop physical movement, speech, a task, etc.
--Effectively use your short-term memory (the "I'm in the kitchen and don't remember what I came here for" problem)
--Plan things while you're doing something, rather than having to plan every step ahead of time
--Not lose track in the middle of a multi-step process
--Keep your attention on a conversation while simultaneously thinking of what to say
--Remember to do things that should be done, like remembering to take out the trash or retrieve your meal from the oven
--Stop and think before making a decision; weigh all options rather than jumping to the first available response
--Act quickly enough when quick responses are necessary
You may see a common tie here with attention-deficit disorder, and yes, that's because ADHD is a form of executive dysfunction. ExD is also common--very common--in autism.