Purdue Agricultural Economics
Strategic Business Planning for Commercial Producers
Purdue ExtensionResourcesSearchRegistration


Strategic Management:

Module 9: Succession Planning

Preparation

Review the exercises associated with the presentation.

Readings include the following:

Weness, Erlin, Transferring the Farm Series, University of Minnesota. 1994. Available at

www.extension.umn.edu/distribution/businessmanagement/DF6317.html

Managing the Multi-Generational Family Farm, Canadian Farm Business Management Council, 1997, Ottawa, Ontario. ISBN 0-9682142-2-3. Available at www.farmcentre.com/.

Purpose of Lecture

No one likes thinking about their mortality and some business founders so closely identify with their ventures that they can't imagine their business continuing without them. A well-thought out succession plan is essential to the continuation of a business, no matter what its size and structure. This presentation presents key things to consider as a plan is built.

Structure of Presentation
The presentation reviews the seven steps associated with building a plan of succession. Three exercises are provided.

Other References

Succession Planning – Passing the Mantle. Small Business Administration, Washington DC. Available at www.sba.gov/gopher/Business-Development/Success-Series/Vol7/success.txt

The Beginning Farmer Center from Iowa Extension has many online publications available at www.extension.iastate.edu/bfc/.

Donald Jonovic has several books available at www.familyenterprise.com/

Farm Estate and Business Planning, Neil Harl, Iowa State University Press, 12th edition.




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

Purdue University School of Agriculture
  Home |Strategic Management | Financial Management | Marketing & Risk Management
Purdue Extension | Resources | Search
Agricultural Economics
School of Agriculture
Purdue University

Copyright © 2002, Purdue University. All rights reserved.