Strategic Management in Agribusiness (152075)
Course coordinator
Course description
Module introduces students with the concept of strategic management. Through the process of strategy design students get acquainted with mission, vision and strategic goal setting approach. Methods for evaluation of external factors and competitiveness as well as internal strengths and weakness are included (EFE and IFE matrix, Competitiveness matrix and PEST analysis). Different business strategies (expansion, mergers and acquisitions, diversification vertical integration) are taught together with their management aspects. Selection and strategy analysis encompasses application of SWOT, SPACE; BCG and QSPM matrices.
Module put emphasis on the modern agribusiness, EU and World food market. Case method is extensively used.
Type of course
- Graduate studies / MS Courses taught in English (Elective course, 1 semester, 1 year)
ECTS: 6.00
English language: L3
E-learning: L1
Teaching hours: 60
Lectures: 30
Practicum: 10
Seminar: 20
Lecturer
Associate teacher for exercises
Grading
Sufficient (2): 61-70 %
Good (3): 71-80 %
Very good (4): 81-90 %
Excellent (5): 91-100%
General competencies
Acquaint students with theory and strategic management skills and know-how.. Module qualifies students to understand the way strategy is developed and implemented and to assess business strategies within companies in agribusiness.
Types of instruction
- Lectures
formal and informal lectures - Auditory Exercises
SWOT, BCG, SPCE and QSPM matrix - Seminars
Oral and written case studies analysis. Creation of strategic plan for the selected agribusiness companies in Croatia, EU or globally
Learning outcomes
| Learning outcome | Evaluation methods |
|---|---|
| Critically evaluate and apply strategical management within the field of agriculture and agribusiness. | Written and oral exam. |
| Structurally and independently analyze external and internal factors of the agribusiness companies (chose and apply strategic management methods in creation, analysis and strategy implementation). | Written and oral exam. Case study analysis. |
| Solve analytical strategical decision problems within the field of agriculture and agribusiness. | Written and oral exam. Case study analysis. |
| Decide, create and suggest adequate strategies | Written and oral exam |
| Independently and in cooperation evaluate the implementation of strategies within authorities, agribusiness companies, cooperatives and farmers organizations | Written and oral exam. Case study analysis |
Working methods
Teachers' obligations
The teacher should lecture in the scheduled time. Prepare and supply students with the teaching materials (readings, assignments, web pages, statistical databases and other relevant material).
Communicate with the students via e-mail and e-learning platform Merlin.
Students' obligations
Attend class. Solve practical problems by submitting reports in accordance with the deadline or by providing answers through e-learning system
Methods of grading
| Evaluation elements | Maximum points or Share in evaluation | Grade rating scale | Grade | Direct teaching hours | Total number of average student workload | ECTS |
|---|---|---|---|---|---|---|
| Attend class | 40 | 40 | 1 | |||
| Seminar | 20% |
0-60% 61-70% 71-80% 81-90% 91-100% |
Insufficient (1) Sufficient (2) Good (3) Very good (4) Excellent (5) |
10 | 40 | 1 |
| Exam | 80% |
0-60% 61-70% 71-80% 81-90% 91-100% |
Insufficient (1) Sufficient (2) Good (3) Very good (4) Excellent (5) |
10 | 100 | 4 |
| Total | 100% | 0-60% insufficient (1) 61-70% sufficient (2) 71-80% good (3) 81-90 very good (4) | (Exam*0.80)+(Seminar*0.20) | 60 | 180 | 6 |
| Evaluation elements | Description | Deadline | Recoupment |
|---|---|---|---|
| Seminar | Case study analysis | ||
| Exam | Written and oral exam. Written exam could take a form of assignment in which student is should apply strategic management framework in the actual and relevant agribusiness problem. |
Weekly class schedule
- Strategic management- Introduction. Agriculture and agribusiness- key trends. L - Definition and key terms in strategic management (strategy, competitiveness, business goals, strategic planning). Agribusiness in Croatia and Central Europe. Agri-food value chain analysis (key input suppliers, producers, processing, logistics, wholesale, retail...) of the main sectors (grain, dairy, sugar, wine, poultry, meat processing, fresh fruit and vegetables)
- Agriculture and agribusiness- key trends. Strategy design- business environment. L - Agribusiness in EU, USA, Asia, Australia and Oceania. Agri-food value chain analysis of the main sectors. Vision and mission, Environment assessment (social, cultural, demographic, technological and institutional forces).
- Strategy design- business environment. Strategy design- internal factors. L - External evaluation matrix (EFE) and Competitiveness matrix (CPM). Internal factors: management, finance, marketing, company culture.
- Strategy design- internal factors. Business strategies. L - Internal evaluation matrix (IFE). Expansion, vertical integration, diversification, defence strategies.
- Business strategies. Strategy analysis and evaluation. L - Expansion, vertical integration, diversification, defence strategies. Analysis and evaluation: SWOT and SPACE matrix.
- Strategy analysis and evaluation. Strategy implementation. L - Analysis and evaluation: QSPM matrix. Strategy implementation-management issues.
- Strategy implementation. Strategy control. L - Strategy implementation-financial, accounting and decision management systems. System for strategy control: Balanced scorecard.
- Strategy control. Software application in strategic planning. L - System for strategy control: Balanced scorecard. Application of Interactive Strategic management software (Wageningen Business School) in strategy design.
- Software application in strategic planning A - Application of Interactive Strategic management software (Wageningen Business School) in strategy design.
- Software application in strategic planning A - Application of Interactive Strategic management software in strategy design.
- Case study S - Analysis of business environment
- Case study S - Analysis of internal factors
- Case study S - vertical integration strategy
- Case study S - merging strategy
- Case study S - strategically risk management
Obligatory literature
- David, R..F: (2006.). Strategic Management, Concepts and Cases. Pearson, SAD.
- Ricketts, C. i Ricketts, K. (2008.). Agribusiness, Fundaments & Applications, Delmar, SAD
Recommended literature
- Nigel, S. (2003.): Agribusiness and Commodity Risks- Strategies and Management, Risk Books, London, Velika Britanija
- Douglas W. Allen, Dean Lueck (2004): The Nature of the Farm (Contracts, Risk, and Organization in Agriculture) The MIT Press, New Ed edition
- Case study sources: Journals: Review of Agricultural Economics, Agribusiness, International Food and Agribusiness Management Review
- Case study sources: ECCH (European Case Clearing House), www.ecch.com
Similar course at related universities
- Advanced Management and Marketing, Wageningen University, The Nethelands
- Strategic Management; International Agribusiness and Rural Development Economics, Gottingen University, Germany