Leadership/CFO Spotlight Intro | Six Essential Elements for a Successful Long-Term Plan | How to Reduce Costs and Influence Strategy
December 14, 2015
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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.
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Six Essential Elements for a Successful Long-Term Plan
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.
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How to Reduce Costs and Influence Strategy
Exploring Capital Restructuring
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.
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Good strategy requires people asking tough questions
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.
ArtPetty.com (11/17) 
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"I'm in the risk-management business," says Jeff Immelt
Jeff Immelt
Immelt (Eric Piermont/Getty Images)
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.
McKinsey (10/2015),  McKinsey (10/2015) 
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To make better strategic decisions, find time to sit and think
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.
Harvard Business Review online (tiered subscription model) (9/3) 
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Questions to ask yourself about strategy
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.
CircleMakers blog (10/4) 
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