Strategic planning and management for your beef entity

Feb 25, 2008 5:11 PM

A recently developed publication outlines strategy and planning for livestock producers in a time of accelerating change.

South Dakota State University publication EC924, “Strategic and Scenario Planning in Ranching: Managing Risk in Dynamic Times,” is available at this link: http://agbiopubs.sdstate.edu/articles/EC924.pdf.

The publication is the second in a series and includes a Balanced Scorecard workbook that producers can use to develop their own strategic plans. The workbook is arranged over 10 steps:

Step 1: Assess current situation and inventory of ranch resources.
Step 2: Conduct a strengths, weaknesses, opportunities, and threats (SWOT) analysis.
Step 3: Establish a vision for the ranch business.
Step 4: Do an analysis of where the operation is and where the operators “dream of being” in the future.
Step 5: Develop alternative strategies to close the gap.
Step 6: Describe multiple scenarios.
Step 7: Select and evaluate the most-probable scenarios.
Step 8: Determine strategies with the highest likelihood of success.
Step 9: Implement the strategic plan.
Step 10: Monitor performance with the Balanced Scorecard.

SDSU Extension Range Specialist Roger Gates, Extension Area Management Specialists Jack Davis and Agustin Arzeno, Extension Ranch Economist Martin Beutler, and Texas A&M University at Kingsville associate professor Barry Dunn wrote the publication.

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