The start-up and early stages of growth and expansion of any new business is an exciting time to say the least: new opportunities, new challenges, and new risks. Successful businesses capture the opportunities, meet the challenges, manage the risks and, over time, grow to be a significant competitor in their market and industry.
Developing strategy is tough stuff. Because it is so difficult to do, many strategy documents turn out to be a “check the box – we got one” set of slogans that don’t really inform decisions and are difficult to implement. Consequently, the pithy strategy statement is not translated into real work, which is essential to improve the performance of the business. So how do we solve this dilemma?
Poor decisions are often a result of the way decisions are made. In this article, Hammond, Keeney and Raiffa talk discuss the ways that the human brain can sabotage decisions through a series of psychological traps. They describe the ways that decision makers can ensure their major decisions are sound.
The food and agribusiness industries are permeated by risk and uncertainty. Capturing the potential opportunities from strategic uncertainty isn’t easy, but is possible.
The author of this article makes the case that growth is as important to the bottom line as margin and that the two aren’t mutually exclusive. He also offers metrics and a framework for analysis.
Business leaders often struggle with both the time and effectiveness of strategic planning. Michael Boehlje applies the strategy concepts of this book to the agribusiness sector.
Risk dominates the agricultural sector. While it's often perceived as bad, business people know risk can also mean reward. In this review, Dr. Michael Boehlje takes the book's concepts and applies them to the food and agribusiness industry.
Dr. Michael Boehlje reviews "Discovery Driven Growth" by Rita McGrath and Ian MacMillan and explains how the concepts in the book apply to food and agribusinesses.