S.W.O.T. For each weakness or threat, there should be an off-setting strength or opportunity to compensate.
Strengths Internal element Low-cost producer –Financial Plan Competent and reliable employees –Resource inventory Marketing niche –Marketing plan Expertise in production (A.I.) –Production plan & resource inventory (skills)
Weaknesses Internal element Highly leveraged –Financial plan Poor brush control, underutilized grassland –Resource inventory Not utilizing futures market –Marketing plan Inadequate facilities or machinery –Resource inventory
Opportunities External element Are there new technologies that would lower costs? Will diversification of enterprises increase profit? Can my operation command a competitive edge?
Threats External element Ethanol explosion to a cattle feeder Drought causing water shortage What’s happening in the market that might effect your enterprises? Are there siblings fighting over family land?
The Curriculum Publication Worksheets Case Study
TTAP Enterprises S.W.O.T. See handout for SWOT Analysis on TTAP Enterprises.
Implementation of Curriculum TTAP I –Four week-long sessions, November and January –Time spent on each section –Each session includes a study hall, panel discussion, social event, & homework –Extension personnel and experts in each field head the discussions
TTAP Agenda Session I Lesson 2- Business Organization –Organizational Structure (Stan Bevers) –Business Structure (Bill Thompson) Lesson 3- Business History –Stan Bevers Lesson 4- Mission Statement –Greg Clary Lesson 5- Resource Inventory –Jason Johnson
TTAP Agenda Session I Lesson 6- SWOT –Blake Bennett Lesson 8- Setting Goals –Goals & Objectives (Jason Johnson) Lesson 10- Financial Plan –Introduction to Financial Statements (Brenda Duckworth) –Management Accounting (Brenda Duckworth) Lesson 11- Marketing Plan – Sources of Risk (Wade Polk)
TTAP Agenda Session II Lesson 5- Resource Inventory –Personality Tests (Don Tyler) –Family Issues (Don Tyler) –Personnel Management (Don Tyler) Lesson 9- Production Plan –Wade Polk
TTAP Agenda Session II Lesson 10- Financial Plan –Advanced Management Accounting (Brenda Duckworth) –Financial Plan (Stan Bevers) –FARM Assistance (Wade Polk) –Family Financial Plan (Jason Johnson)
TTAP Agenda Session III Lesson 11- Marketing Plan –Requirements for an Effective Market (Stan Bevers) –Strategic vs. Tactical Plans (Stan Bevers) –Agricultural Policy (Joe Outlaw) –Concurrent Marketing Sessions Livestock- David Anderson Grains- Mark Waller –Introduction to Futures & Options (Mark Waller)
Implementation of Curriculum Each section relies on information from other sections –Resource inventory includes fixed (depreciable) assets Sections should reconcile –Resource inventory & depreciation schedule
Implementation of Curriculum When completed, producer has a Management Plan of Continuation Process is as important as end product!
Implementation of Curriculum Goals are determined according to information gathered in process Goals must be revisited each year –Were they attained? If not, why? If so, set them higher.