CRAFTING A STRATEGY
Crafting a strategy can help keep a farmer, as manager, focused on what is truly important when making decisions that will affect the success and survival of the business. Short-term opportunities (a good deal on machinery, for example) or threats (“sign now or lose this chance,” for example) may create distractions and possibly decisions that do not fit the chosen strategy or contribute to long-run goals. When a long-run strategy has been developed, it can be used to evaluate potential opportunities and threats for their impact on the strategic goals of the farm.
A disciplined strategic management process has many advantages over the potential results of following decisions made on the basis of freewheeling improvisation, gut feeling, good deals, and drifting along. A good strategic management process will: