Strategic Planning in Agricultural Business By Dayne Yeager
A strategic plan is an important tool for any business, but especially for agricultural businesses and strategic planning helps to identify your business goals and create a path to achieve them.
This plan can help you increase profits and grow your market share by making the most of opportunities while minimizing threats and risks.
What Is Strategic Planning
Strategic planning according to Dayne Yeager is a process for setting long-term goals for your business and it’s about identifying the problems that your business faces, and then figuring out how you can overcome them.
Strategic planning helps you focus on what is important to your business by allowing you to take a step back from day-to-day operations, so that you can look at the bigger picture.
It’s also important because it helps ensure that everyone in the company understands their role in achieving those goals and knows how their actions affect other departments or employees’ workflows as well as the overall success of an initiative or project.
Why Do You Need A Strategic Plan
If you’re like Dayne Yeager most business owners, your company is constantly moving forward and changing and you need a strategic plan that helps guide its growth and direction so as not to get lost in the shuffle.
A strategic plan is like an umbrella; it provides guidance over time by identifying opportunities, threats, and challenges; helping decide which ones are important enough for action; helping evaluate performance against goals; setting new goals for next year; measuring success or failure against those benchmarks.
How To Create A Successful Strategic Plan
● What do you want to accomplish?
● What problems need to be solved in order for those goals to be achieved? Once you have answered these questions, define the solution and steps necessary for achieving it.
How To Implement Your Plan
The implementation of your strategic plan should be an ongoing process that occurs throughout the year and involves all aspects of your business.
While this may seem obvious, many businesses fail to implement their strategy because they fail to review their plans frequently enough or involve key stakeholders in the process early enough.
Keep Your Plan Up-to-Date: this helps ensure everyone stays focused on achieving goals while avoiding duplicated efforts and wasted resources on activities that don’t offer value for money spent or time invested into them.