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business planning

​Identification of Unique Resources

It is pertinent to discuss resource based theory of the firm. This theory can help explain why farms are different. In general, differences among farms are the result of differences in prices paid for inputs, the availability and ability to take advantage of niche markets, differential learning or organizational structures, or differential strengths and resource endowments.

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Capturing the Upside & Buffering the Downside

Recorded November 30, 2015 | Key management strategies farmers can use to successfully manage their farms during the economic downturn in agriculture.

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Strategic Positioning: Focus vs. Flexibility

The mantra of almost all strategic planning discussions and recommendations is that a company cannot be all things to all people – – it must be focused in its choice of customers and how it will create value for those customers.

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Strategic Decisions: You Can’t Always Be Right

No matter how well informed you are, how careful you have been in specifying the problem, how much data and information you have collected, how systematic you have been in the decision process, it is possible you will make a mistake – a wrong choice.

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Managing in Turbulent Times: Positioning to Capture the Upside, Buffer the Downside

Risk dominates the farming sector, and most farmers try to reduce or manage/mitigate the risks they take. Risk is perceived by most to be “bad” – – something to be avoided.

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It’s Not Just About Costs per Acre, Even in Tight Times

The current climate of low crop commodity prices is squeezing margins. Some margins might even be negative if crop producers continue with current costs. As a result, crop producers might focus more intensely than usual on managing costs of production.

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Managing Your Farm Business in Tougher Times

The business climate for the farming sector is transitioning from a period of unprecedented prosperity, particularly for the grain sector, to a much less robust period. To help you navigate this new business environment, we’ve identified ten strategies for long-term success.

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Risk and Uncertainty

This series of articles will provide an introduction to risk and uncertainty, and discuss tools and strategies that can be used to mitigate risk and uncertainty.

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3 Ways to Manage Risk in Your Farm Business

Most people working in agriculture are in the business of commodity. And in the long run, in a commodity business, there is one absolute key to success. It’s pretty straightforward: be a low-cost producer. It can be difficult to make it happen, but necessary, especially in today’s volatile financial climate.

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The Great Margin Squeeze: Strategies for Managing Through the Cycle

After many years of high commodity prices and strong profitability, the landscape in the row-crop sector has shifted dramatically. Today, farmers are facing a substantial margin squeeze. Purdue’s early estimates of the 2015 budget for operations on average-quality Indiana farmland projected a loss ranging from $156 to $317 per acre.

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