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Strategy Development In A Turbulent Business Climate: Concepts And Methods

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  • Boehlje, Michael

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. Not only is the future more uncertain, the drivers of that uncertainty are also changing - strategic risk which generally has a low probability of occurrence, but large consequences, is becoming an increasingly important component of the decision environment Managing these risks requires not only new assessment tools such as scorecarding and mapping, but also more systematic decision frameworks that can be best structured as decision trees. And managing time to redefine a strategic choice in an uncertain environment into a growth, divest, exit, pause or follow-on option that truncates the loss exposure and allows capture of the profit potential transforms strategy under uncertainty from a defensive posture of minimizing losses and protecting positions to an offensive posture of creating and capturing value

Suggested Citation

  • Boehlje, Michael, 2003. "Strategy Development In A Turbulent Business Climate: Concepts And Methods," Staff Papers 28632, Purdue University, Department of Agricultural Economics.
  • Handle: RePEc:ags:puaesp:28632
    DOI: 10.22004/ag.econ.28632
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    File URL: http://ageconsearch.umn.edu/record/28632/files/sp03-06.pdf
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    References listed on IDEAS

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    1. Avinash K. Dixit & Robert S. Pindyck, 1994. "Investment under Uncertainty," Economics Books, Princeton University Press, edition 1, number 5474, March.
    2. Sunding, David & Zilberman, David, 2001. "The agricultural innovation process: Research and technology adoption in a changing agricultural sector," Handbook of Agricultural Economics,in: B. L. Gardner & G. C. Rausser (ed.), Handbook of Agricultural Economics, edition 1, volume 1, chapter 4, pages 207-261 Elsevier.
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    Cited by:

    1. Lissitsa, Alexej, 2005. "The Balanced Scorecard Implementation in Farm Enterprise - A Case Study from Ukraine," 15th Congress, Campinas SP, Brazil, August 14-19, 2005 24272, International Farm Management Association.
    2. Hutchings, Timothy R. & Nordblom, Thomas L. & Hayes, Richard C. & Li, Guangdi & Finlayson, John D., 2016. "A framework for modelling financial risk in Southern Australia: the intensive farming (IF) model," 2016 Conference (60th), February 2-5, 2016, Canberra, Australia 235333, Australian Agricultural and Resource Economics Society.

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    Keywords

    Agribusiness; Risk and Uncertainty;

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