Transparency can be a powerful weapon for any agribusiness, especially in the current market where e-commerce is transforming agriculture. Farmers in the U.S. are increasingly turning to e-commerce to procure essential items, moving away from physical stores and regional farming cooperatives.
Much of the innovation in agriculture over the last 50 years has been science based, meaning that manufacturers have developed new solutions for farmers through equipment, chemicals and technology.
Depending on whether a relationship is at its beginning or at a progressed stage, different factors drive various forms of trust. Suppliers must develop a variety of strategic tools to meet the needs of customers at different stages.
Surprisingly few executives use data from their own organizations to test their assumptions about what factors drive financial performance. By gaining new insights into performance relationships within their own companies, managers can develop smarter strategies.
Data has become an integral part of any business. However, you must exercise caution when employing data – especially survey data – to extract insights used in business decisions.
Mergers and acquisitions have undoubtedly resulted in more diversified companies. However, the larger the company, the bigger the challenge it is to plan and execute join strategic initiatives among business units.
The proliferation of products in the agribusiness input supply sector places increasing pressure on suppliers to find ways to influence their retailers to represent their products in the best ways to farmer customers.
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?