Rank #1: The future of private equity
These funds face a credit-constrained world; they must adapt to thrive.
Rank #2: How to improve strategic planning
It can be a frustrating exercise, but there are ways to increase its value.
Rank #3: Running a winning M&A shop
The authors argue that picking up the pace of M&A requires big changes in a company’s processes and organization—even if the deals are smaller. The text of this recording can be found at www.mckinseyquarterly.com.
Rank #4: How to put your money where your strategy is
Allocating resources the same way every year creates inertia. Here’s a better way.
Rank #5: A hidden roadblock in public infrastructure projects
Misplaced assumptions that governments always enjoy a cost-of-capital advantage over private players can kill projects on the drawing board. Reexamining the economics could move more deals ahead.
Rank #6: How to choose between growth and ROIC
Investors reward high-performing companies that shift their strategic focus prudently — even if that means lower returns or slower growth.
Rank #7: M&A teams: When small is beautiful
Large M&A departments aren’t essential for making successful acquisitions.
Rank #8: The power of an independent corporate center
To develop a winning corporate strategy, you may need more muscle in your headquarters.
Rank #9: All P/Es are not created equal
High price-to-earnings ratios are about more than growth. Understanding the ingredients that go into a strong multiple can help executives make the most of this strategic tool.
Rank #10: A long-term look at ROIC
Finance theory isn’t enough when companies set their expectations for reasonable returns on invested capital. A long-term analysis of market and industry trends can help.