Leadership in Agribusiness Strategy:
A manager is a leader also. Leadership in Agribusiness Strategy is essential to keep pace with the modern world.
General Manager:
The company’s overall performance/ One of the major subunits or divisions that are self-contained
Functional managers:
managing a specific function/task/activity/operation, such as accounting, advertisement, research, and development ( R&D), IT, or logistics.
Business unit:
Self-contained division (with its own roles, such as divisions of finance, buying, manufacturing, and marketing) delivering a product or service for a specific market.
The phase of Plan Making:
Corporate Mission > External > Internal > Select Methods > Execute
The method of organized strategic planning:
- Choose the organizational mission and major corporate priorities.
- Analyze the external competitive climate of the organization to recognize opportunities and risks.
- Analyze the internal operating environment of the company to determine the strengths and limitations of the company.
- To take advantage of external opportunities and address external challenges, pick strategies that draw on the strengths of the company, and correct its weaknesses. These methods should be aligned with the organization’s mission and main objectives. They should be coherent and a viable business model should be developed.
- Implement the tactics
Mission:
The company’s intent or a statement of what the company intends to do.
Google > Organize the data of the planet and make it freely available and useful
Vision:
Articulation of the desired accomplishments or future condition of a firm. Managed with Microsoft On every desk and in every house, a very strong vision of a machine
Values:
A declaration about how workers can treat themselves and their business to help accomplish the task of the business.
Targets:
- They are reliable and measurable.
- They solve critical problems. Managers can choose a small number of major objectives to measure the company’s success in order to retain concentration. The targets that are chosen should be critical or important.
- They’re demanding but rational. They offer all workers an opportunity to search for ways to enhance an organization’s operations. In the difficulties it faces, if a target is ambitious, employees may give up; a target that is too simple may fail to inspire managers and other employees.
- They define a time span in which, where necessary, the objectives should be accomplished.
External Review:
When conducting an external review, three interrelated environments should be examined:
- The market setting in which the business operates,
- The climate of the nation or region, and the environment
- A broader socio-economic or macroclimate.
External Evaluation:
- Resources,
- Capabilities, and
- Competencies of a firm.
SWOT Analysis and (Functional / Company / Global / Corporate) Business Model
Implementing Strategy:
- Putting in place quality management initiatives,
- Changing the method of designing a product,
- Positioning the commodity on the market in a particular way,
- Marketing segmentation and selling to various customer segments of various versions of the product,
- Implementing increases or decreases in price,
- Expanding by mergers and combinations
- Acquisitions, or by shutting down or selling off parts of the business, downsizing the business.
In reality, occasionally strategy fails to resolve that:
- We should consider the preparation of future uncertainty scenarios (formulating plans based on future “what-if” scenarios)
- (Demographic considerations) Decentralized planning
When making decisions, why does the best-designed strategic planning method fail?
Cognitive biases (Systematic mistakes resulting from the way people interpret knowledge in human decision-making)
- Prior hypothesis bias (A cognitive bias that arises when decision-makers that have strong prior convictions appear to make decisions on the basis of these convictions, even when faced with proof that their beliefs are wrong.)
- Escalating commitment (A cognitive bias that arises when decision-makers commit even more resources after receiving feedback that the project is failing, having already committed substantial resources to a project)
- Analogy Reasoning (Use of simple analogies to make sense of complex issues)
- Representativeness (A prejudice rooted in the propensity of a small sample or even a single vivid anecdote to generalize)
- Control distortion (A cognitive bias rooted in the propensity to overestimate one’s ability to control events.)
- Availability error (A bias that results from our tendency to estimate the likelihood of an outcome based on how convenient it is to imagine the outcome.)
Improvement Strategies for Decision Making
- Devil’s advocacy A process in which all the considerations that might make a plan undesirable are defined by one member of a decision-making team.
- The development of a plan (a thesis) and a counterplan (an antithesis) that represent possible but opposing courses of action. Dialectic inquiry
- Identification of prior successful or ineffective strategic strategies to assess if such strategies would work for the project at hand.
Leadership in Policy
Main features of successful strategic leaders that contribute to high performance:
- Vision, eloquence, and uniformity
- Delivery / Transfer of a business model (Vocal)
- Commitment Involvement
- To be well educated
- Willingness for delegation and empowerment
- Use of control wisely and deliberately
- Emotional Smartness
- The capacity to consider one’s own moods, feelings, and drives, as well as their effect on others, is self-awareness.
- The ability to regulate or redirect destructive impulses or moods, that is, to think before acting, is self-regulation.
- Motivation-a passion for work that goes beyond money or prestige and a tendency to seek energy and persistence objectives.
- Empathy-the ability to consider subordinates’ thoughts and opinions and to take them into consideration when making decisions.
Industry A group of firms
- Offering goods or products
- Close-based programs
- Replacements for one another.
Sector:
Category of sectors that are closely related.
Market segments:
Market segments are independent consumer classes within a market that can be distinguished from each other on the basis of their individual characteristics and unique specifications. Changing computer and telecommunications industry boundaries
