An important article in The Guardian on Team GB’s success in the Rio Olympics concluded that the key to their success was: “A well thought out long-term strategy that is strictly adhered to”, and that it could have implications for businesses. The analysis highlighted:

• Timing - because the Olympics has a fixed date, athletes are able to set their goals. How could your department set similar goals
• Training - break your long term goals into achievable short-term objectives
• Research - understand your competition and how good they are, e.g. how does your corporate treasury department compare with your peers?
• Change and grow - failure is inevitable, check what is working and what is not in achieving your long term goals
• Sacrifice - success of a long-term plan depends on continuous dedication, and ultimately, sacrifice.

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CTMfile take: Much to the annoyance of many other nations this approach worked, and it could work for your corporate treasury department too.