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Agribusiness Planning: Setting and Achieving Goals

Learn to establish business goals, ways to accomplish them, and the major components of a business plan in the agribusiness sector. Understand the importance of setting goals, reviewing them, and time management techniques.

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Agribusiness Planning: Setting and Achieving Goals

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  1. Problem Area 1 Planning and Organizing the Agribusiness

  2. Next Generation Science/Common Core Standards Addressed. • CCSS.ELA Literacy.RST.9‐10.8 Assess the extent to which the reasoning and evidence in a text support the author’s claim or a recommendation for solving a scientific or technical problem. • CCSS.ELA Literacy. RST.11‐12.9 Synthesize information from a range of sources (e.g., texts, experiments, simulations) into a coherent understanding of a process, phenomenon, or concept, resolving conflicting information when possible

  3. Agriculture, Food and Natural Resource Standards Addressed! • CRP.01.02 Evaluate and consider the near-term and long-term impacts of personal and professional decisions on employers and community before taking action. • CRP.01.02.02.a. Classify professional decisions by their near- and long-term impact on employers and community (e.g., decisions involving: financials, business goals, processes, customer satisfaction, corporate image, etc.).

  4. Bell Work / Objectives • Describe the reasons for establishing business goals. • Identify the three types of agribusiness goals. • Identify ways to accomplish goals. • Describe the major parts of a business plan.

  5. Appendix Business plan Business regulations Company description Financial plan Goal Immediate goals Introduction Legal plan Location analysis Long-term goals Management plan Marketing plan Vocabulary

  6. Interest Approach • Ask students to take out a piece of paper and define the word goal. • Next, have them write down a short-term goal, and a long-term goal. • Discuss the importance of setting goals.

  7. Why should business goals be established? • A goalis an end one strives to attain. • Goals, and how to go about accomplishing them, can be found in a business’s mission statement

  8. Mission Statement • A mission statementis a brief summary of the goals and objectives of a business

  9. Purpose • Goals can be used to help set policy and provide decision-making guidelines

  10. Policies • Consistency is important in setting policies in businesses of all sizes • Policies regarding • Hiring • Training • Retention • Promotion

  11. Reviewing Goals • As with personal goals, business goals should be periodically reviewed. • Business goals may be affected by economic, political, and social changes within the business’s sector. • In order for goals to be effective objectives should be set to help meet these goals.

  12. Objectives • Objectives should be stated in terms that are identifiable by periods of time. • At that time, the performance of the business should be compared to the stated objectives. • Based on the given performance, management has to determine if the goals have been met. • If not, decide what changes will need to be made to meet the goals.

  13. What are the three types of agribusiness goals? • Immediate • Short-term • Long-term

  14. Immediate Goals • Immediate goalsare goals set to help get a business started. • Goals to accomplish in the immediate future, such as within the day, week, or month.

  15. Short-Term Goals • Short-term goalsare goals set to help a business work towards its long-term goal. • Goals to be accomplished within one to two years.

  16. Long-Term Goals • Long-term goalsare goals set to determine a business’s performance after a number of years. • Long-term goals take a number of years to accomplish.

  17. How can goals be accomplished? Reaching Goals • Prioritize goals • Review goals • Time Management

  18. Prioritize Goals • In order for a business to accomplish its goals, the goals must first be prioritized. • Time and money should be considered.

  19. Review Goals • Goals should be reviewed on a timely basis depending on the goal. • Monthly • Quarterly • Annually

  20. Time Management • Use time and effort wisely • Wasted time is wasted money • Suggestion – “To Do List”

  21. What are the major parts of a business plan? • A business planis the written description of all aspects of an agribusiness. • It is essential in starting a successful business. • It is unique for each business.

  22. Introduction Business description Products or services offered Management plan Marketing plan Legal plan Location analysis Business regulations Capital required Financial plan Financing arrangements Competition Operating plan An appendix Components of a Business Plan

  23. Introduction • The introduction of a business plan is an overview of the agribusiness • The introduction should describe the agribusiness and list the goals and objectives of the agribusiness

  24. Company Description • A company descriptiondescribes the company as it currently exists • The history of the company • The type of services or products the company offers

  25. Management Plan • Identifies those people that will manage the proposed agribusiness. • Should also include an organizational chart of employees and job descriptions for each.

  26. Marketing Plan • Describes the type of competition a business will face. • Types of customers the business hopes to attract. • Identifies competition.

  27. Legal Plan • Identifies the legal organization of the agribusiness • These organizations include: sole proprietorship, partnership, corporation, cooperative, or franchise

  28. Financial Plan • A financial planprojects the income, expenses, and profits of a business over a multi-year period

  29. Operating Plan • Describes how an agribusiness will run on a daily basis. • Facilities, personnel, materials, and processing requirements should be included within the operating plan.

  30. Location Analysis • The study of an area including possible • Consumers • Traffic patterns • Accessibility • Visibility

  31. Business Regulations • Business regulationsare local, state, and federal restrictions and insurance requirements. • They should also be included in the business plan.

  32. Required Capitol • The capitol required to begin an agribusiness should be well detailed within the business plan.

  33. Financial Arrangements • Financial arrangements such as loans, personal investments, and venture capital should also be detailed • Venture capitalis the money invested in an agribusiness by an investor

  34. Appendix • The appendixshould include all marketing research and a reference of the materials used in compiling the business plan.

  35. Review/Summary • Reasons for establishing business goals. • Three types of agribusiness goals. • Identify ways to accomplish goals. • Describe the major parts of a business plan.

  36. The End!

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