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Strategic Management:

Module 6: Implementing Strategy: Two Lectures


Lecture 1: Goals and Objectives

Preparation

Printable Version
Goals and Objectives (pdf)

Presentation
How Do Goals and Objectives Implement My Strategy? (ppt)

Exercise
Goals and Objectives (pdf)

Read “Goals & Objectives.”

Purpose of Lecture

Once strategies have been selected, then it is time to define the activities required to ensure that the strategy is followed. These take the form of goals and objectives that implement the strategies that achieve the vision and mission of the business. In this lecture goals and objectives are defined and ways to develop goals and objectives for the business are presented.

Structure of Presentation

Exercises are provided to help build goals and objectives.

Other references include Defining Your Business Through Goals and Objectives: First Steps for New Entrepreneurs, EC-727 and How to Use Goals to Achieve Business Success: First Steps for New Entrepreneurs, EC-726.


Lecture 2: Organizational Structure

Read Principles for Structuring Small Businesses and Farms, EC-729.

Read Developing Effective Job Descriptions for Farms and Small Businesses, EC-728.

Purpose of Lecture

The business needs to be organized in a way that will facilitate the implementation of strategy. Because of the small work force associated with the farm business, it is common to have everyone involved in everything. This can lead to a situation where people are so busy that important items get over looked or important issues never get addressed. In this section we will look at different ways to divide management responsibilities and organize the business.

Structure of Presentation

Review common methods of organizing a business and how they can be applied to a farm. Begin the process of formalizing the business organization to be used on your farm using job descriptions.



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



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