N D S U Home Page  North Dakota State University
INFORMATION find our service links to the right  Home  Ag Ec Home  Course Description  Calendar  AGEC Home

QUICK LINKS For Student related links, look below
 Course Topics
 Reference Topics
 Related Links
 Contact Instructor

Best if printed in landscape.

Strategic Planning

Introduce Agricultural Management

Overview of Economic Resources

Management is Decision Making

Role of Goals

Decision Making Process

Agriculture and Selected Economic Concepts

Trends in Agriculture -- Causes and Implications

Demand and Supply

Characteristics of Competition

Financial Goals in Decision Making

Financial Goals and Financial Statements

Accounting Profit, Depreciation and Opportunity Cost

Production Theory and Diminishing Marginal Productivity

Enterprise Analysis

Partial Budget Analysis

Related topics of Present Value, Cash Flow, and Risk

Management Skills

Strategic Planning

Business Planning Process

Strategic Alliances: Contracts, Business Co-ownership, and Supply Chain Management

Additional Thoughts about Economic Resources






Review and Summary

Introduction to strategic planning (long-term or business planning)

The discussion in the previous section emphasizes the importance of devising a decision making process. The discussion assumed that the decisions involve a relatively short time period; that is, the length of time between the need to make a decision and when the decision is made, implemented and reviewed is relatively short.

Managers also need to think about the long-run. This section introduces long-term decision making, or what is often called "business planning" or "strategic planning."

Does a strategic plan enhance one's "willingness to assume risk?"

A strategic vision provides a framework for making and implementing short-run decisions. It allows short-run decisions to be made within the context of working towards the manager's or the business' long-term goals.

Without a long-term vision, a series of short-term decisions may not achieve the decision maker's long-term goals. Instead, there is a risk that each short-term decision will be analyzed independent of other decisions, rather than being analyzed within the context of an overall vision. Independent analysis could lead to short-term decisions that conflict with one another. A long-term vision is needed as part of making short-term decisions.

Steps in strategic business planning

Other strategic planning processes

Are you ready to begin developing your long-term planning process?



Last Updated August 18, 2010


Email: David.Saxowsky@ndsu.edu

This material is intended for educational purposes only. It is not a substitute for competent professional advice. Seek appropriate advice for answers to your specific questions.

  NDSU Home  Phone Book  Campus Map  NDSU Search  College of Agriculture

Published by Agricusiness and Applied Economics
Morrill Room 217
North Dakota State University, Fargo, ND 58105-5636
Phone: (701) 231-7441