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Strategy Development in a Turbulent Business Climate: Concepts and Methods

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  • Boehlje, Michael
  • Gray, Allan W.
  • Detre, Joshua D.

Abstract

The accelerating speed of change in the food and agribusiness industries is resulting in more risk and uncertainty - the future is becoming much less predictable. The drivers of these uncertainties are also changing - strategic risk which generally has a low probability of occurrence, but large consequences has begun to replace tactical risk. Managing these risks requires not only new assessment tools such as scorecarding and mapping, but also more systematic decision frameworks. In essence, strategic risk management involves using the proper assessment and management tools so as to truncate the loss exposure and capture the profit potential of these risks.

Suggested Citation

  • Boehlje, Michael & Gray, Allan W. & Detre, Joshua D., 2005. "Strategy Development in a Turbulent Business Climate: Concepts and Methods," International Food and Agribusiness Management Review, International Food and Agribusiness Management Association, vol. 8(2), pages 1-20.
    • Handle: RePEc:ags:ifaamr:8158
    DOI: 10.22004/ag.econ.8158
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    References listed on IDEAS

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    1. Robert A. Collins, 1985. "Expected Utility, Debt-Equity Structure, and Risk Balancing," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 67(3), pages 627-629.
    2. Avinash K. Dixit & Robert S. Pindyck, 1994. "Investment under Uncertainty," Economics Books, Princeton University Press, edition 1, number 5474.
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    Cited by:

    1. Elizabeth A. Yeager & Sarah A. Stutzman, 2014. "Deer Creek Farms: Tradition into the Future," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 96(2), pages 598-605.
    2. Brenes, Esteban R. & Montoya, Daniel & Ciravegna, Luciano, 2014. "Differentiation strategies in emerging markets: The case of Latin American agribusinesses," Journal of Business Research, Elsevier, vol. 67(5), pages 847-855.
    3. Brenes, Esteban R. & Ciravegna, Luciano & Pichardo, Caleb A., 2016. "Examining the strategy-performance link of Latin American businesses – a configurational approach," International Food and Agribusiness Management Review, International Food and Agribusiness Management Association, vol. 20(3), December.
    4. Detre, Joshua D. & Briggeman, Brian C. & Boehlje, Michael & Gray, Allan W., 2006. "Scorecarding and Heat Mapping: Tools and Concepts for Assessing Strategic Uncertainty," International Food and Agribusiness Management Review, International Food and Agribusiness Management Association, vol. 9(1), pages 1-22.
    5. Brenes, Esteban R. & Ciravegna, Luciano & Acuña, Joseph, 2020. "Differentiation strategies in agribusiness – A configurational approach," Journal of Business Research, Elsevier, vol. 119(C), pages 522-539.
    6. Boehlje, Michael & Roucan-Kane, Maud & Broring, Stefanie, 2011. "Future Agribusiness Challenges: Strategic Uncertainty, Innovation and Structural Change," International Food and Agribusiness Management Review, International Food and Agribusiness Management Association, vol. 14(5), pages 1-29, December.
    7. Shadbolt, Nicola M. & Olubode-Awosola, Femi & Gray, David I. & Dooley, Elizabeth, 2010. "Risk - An Opportunity or Threat for Entrepreneurial Farmers in the Global Food Market?," International Food and Agribusiness Management Review, International Food and Agribusiness Management Association, vol. 13(4), pages 1-21.
    8. Roucan-Kane, Maud & Boehlje, Michael & Gray, Allan W. & Akridge, Jay T., 2010. "Making Decisions In Turbulent Times: An Analytical Framework And Decision Tools," Working papers 98052, Purdue University, Department of Agricultural Economics.
    9. Roucan-Kane, Maud & Boehlje, Michael & Gray, Allan W. & Akridge, Jay T., 2009. "Tools And Analytical Framework To Make Decisions In Turbulent Times," Working papers 55465, Purdue University, Department of Agricultural Economics.

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    Keywords

    Agribusiness; Risk and Uncertainty;

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