Spotlight on Six Year Planning - Keeping Your Goals in View
Many business executives can speak to their short-term plans with confidence and have a basic five-year plan in place. But adding an additional year to that long-term plan can make you think about your business differently. SunTrust’s Six-Year Plan report can help refine your course setting, from updating your competitive strategy and setting your growth plans to tuning your capital strategy and maximizing your business's value.
SunTrust Research shows that many businesses have room for improvement when planning longer-term goals. In this infographic, SunTrust profiles the directions that leaders are following and outlines six elements to creating a Six-Year Plan that can enable owners to take a comprehensive view towards planning and can help maximize business. Click here to see more.
With interest rates at historically low rates, capital restructuring helps to recast your capital structure to meet your plans while minimizing capital costs. SunTrust walks you through the opportunities available to small and medium sized business through capital restructuring. Learn more here.
Too many leaders ignore the tough questions about their organization's strategic direction, seek to answer them with platitudes or don't even have specific goals, writes Art Petty. "Whether you're sitting at the top of the food chain or operating from somewhere in the middle, it's essential to ask and push for clear, coherent answers to the hard questions," he writes.
General Electric has survived a technological upheaval in the broader economy, emerging with a strategic focus and a leaner, Silicon-Valley-inspired business culture, says CEO Jeff Immelt. Both the company and its management philosophy have changed significantly since Jack Welch's day, Immelt says. "You're not in the control business today, you're in the risk-reward business," he says.
Leaders who spend all their time fixing problems tend not to have much time to simply sit and think, writes Freek Vermeulen. That makes it much harder for them to make sound strategic decisions. "Strategy, by definition, is about making complex decisions under uncertainty, with substantive, long-term consequences. Therefore, it requires substantial periods of careful, undisturbed reflection and consideration," Vermeulen writes.
Strategies fail for many reasons, one being the basic confusion between a strategy and a strategic plan, Todd Garretson writes. Strategy is the big picture -- your market, your value proposition, and the organizational capabilities and structure needed. A strategic plan is more tactical and detailed. "Your strategic plan should feel like an instruction manual for your overall strategy," Garretson writes.
At SunTrust, our purpose is to Light the Way to Financial Well-Being for our clients, our communities and our teammates. When your company partners with us, we will work to achieve this purpose through our unique SunTrust OneTeam ApproachSM. We assemble an integrated team with the right financial and industry expertise from across our organization. Our team will work together to tailor the best strategies and solutions to help your business realize smart growth. Learn more here.
About this email: SmartBrief will
occasionally send emails from our business partners promoting
products and services likely to be of interest and relevance to our
readers. The content of these messages does not necessarily reflect
the view of SmartBrief or its Association partners. If you do not
want to receive these emails from SmartBrief, you can unsubscribe
from them by