Suntrust Strategic Plan
Strategic Plan Paper
Executive Summary
Key Issues
Vision, Mission, and Corporate Objectives
Vision
Mission Statement
Corporate Objectives
Situational Analysis
3.1 Internal Analysis
PESTEL analysis
Industrial analysis
Market analysis
Marketing Objectives
Marketing Strategies
Financial feasibility
Alternative plans
Measurement, Review and Control
Reference list
Appendices
Executive Summary
SunTrust is a Banking industry that was founded in 1811. SunTrust headquarters is located in Atlanta, Georgia, in U.S and it has about 1,800 branches in the Southeast of the United States. SunTrust employs more than twenty eight thousand employees and as at 2009 financial year, it earned revenue of 10.4 Billion US Dollars. The bank offers both retail and commercial banking, among other services such as mortgages, insurance, credit cards, and asset financing. The industry has been doing so well in the US and it is high time it considers international expansion. It should consider making organic expansion in the Australian market. Australia is a country that has undergone a rapid economic growth rate in the recent past. The economic growth is a key determinant in making decision on whether to make an investment in the country.
Australia has highly modern developed infrastructures; these are in terms of transport and communication. The systems are advanced so well that access to the country from any corner of the world is highly enhanced; the airports, the sea port, and internal transport are well managed and accessible. The communication network within and without is of high-tech. This is an asset to the industry since it reduces the cost of doing business. On the other hand, the international market is enhanced at all lengths. SunTrust strength is ventured in its strong brand name that is internationally recognized. There is a wide recognition of its products in all parts of the world. The strength of the company is undoubtedly engineered by its internal managerial mechanisms, the companies it has acquired, and its close relationship with the Coca Cola Company.
To have a competitive edge in selling its product and services, it will be advisable for the company