Purdue Agricultural Economics
Strategic Business Planning for Commercial Producers
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Strategic Management:

Module 3: Business Enviroment: Two Lectures


Lecture 1 : New Realities

Preparation

Read “Globalization and Agriculture: New Realities.”

Purpose of Lecture

Five key forces, or drivers, are permanently altering the way production agriculture operates. Understanding these forces will enable producers to prepare to take advantage of the changes that are part of the new agriculture.

Structure of Presentation

The presentation begins by listing five drivers of change, then goes on to illustrate how the effects are being manifested in the agricultural industry.

Exercises are provided to stimulate thoughts on what changes may affect participants’ businesses.



Lecture 2: External Enviromental Scanning

Preparation

Read “Strategic Planning: External Environmental Scanning.”

Purpose of Lecture

Strategic planning begins with assessing the industry and societal environment for trends outside of the business that may affect how the business operates. Scanning the environment for opportunities and threats is a key initial step in the strategic planning process because it identifies areas the business can take advantage of or try to counter. This lecture provides a tool to help assess trends in the industry.

Structure of Presentation

The lecture begins by differentiating the societal and industrial environments that businesses operate in. It then introduces the Five Forces model as a method of examining the industry environment.

Two exercises are available to help participants rate their business’s ability to respond to opportunities and threats, and External Factor Analysis Summary (EFAS) and Scanning the Industry Environment.


Strategic Management

The Setting (Intro)

Strategic Direction

Business Environment

Business Strengths

Identifying Strategies

Implementing Strategy

Monitoring & Control

Human Resources

Succession Planning


Financial Management
Marketing & Risk Management



Agricultural Economics

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