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

Module 7: Monitoring and Control


Read “Assessing and Repositioning.”

Purpose of Lecture

A strategic plan is useless if there is no way to see if it is taking the business where the farm business manager wants it to go. Evaluating performance is a necessary step to keeping on track. This presentation identifies factors critical to success, defines and compares standards of expected performance, and assesses the need and type of adjustment.

Structure of Presentation

This presentation begins by introducing the principles of monitoring and control, then shows how benchmarking can be used to set comparisons. It ends with an illustration of how monitoring and control can be applied to a business using the DuPont Model of profitability analysis to link strategies and actions. Three exercises are provided.

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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