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Preparation
Read "Strategic
Business Planning for the Farm Business: Options and Analysis
Tools."
Review the presentations on external and internal environments
and the EFAS and IFAS exercises found in the Business
Environment and Business
Strengths modules.
Purpose of Lecture
The capabilities of the business can help guide the business to
the type of strategy that would be beneficial for the business
to pursue. This lecture shows show some strategies fit the
core competencies and market the business is in.
Structure of Presentation
The lecture begins with an exercise that integrates the results
of the EFAS and IFAS exercises of previous lectures to create
a TOWS matrix, which simply maps strengths, weaknesses,
opportunities and threats. It then describes what a business
level strategy is and three general types of business level
strategies.
Preparation
Read “Doing
the Right Thing.”
Review other material in the Identifying Strategies module,
the Business Environment
modules and Business Strengths
module.
Purpose of Lecture
Designing a strategy means choosing a strategy and how to implement it.
This is where setting the details of a vision is done. This
presentation defines key decisions that must be made.
Structure of Presentation
The lecture first presents seven key decisions managers
must make when deciding on a strategy. It then integrates
the results of the EFAS and IFAS exercises into a tool that
helps managers decide what business units to grow, the Business
Unit Growth Matrix. Then another tool (the Growth Options
Matrix) is used to help identify the type of strategy to
pursue. Finally the Outsourcing Matrix is introduced, since
it is likely that focusing on one area of the business must
be accompanied by a reduction of focus in another area.
This tools helps guide that decision.
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