Thriving in Uncertain Times: Markets, Food, and Governing Michael L. Cook University of Missouri Graduate Institute of Cooperative Leadership (GICL)

In a cooperative Marketing, Strategy and Governing are interrelated.

Cooperatives are primarily user owned, controlled and benefiting There are cooperatives where the 1.Member is a Supplier 2.Member is a Consumer 3.Member is Both

What role can a director play in governing her/his cooperative through uncertain times?

Director Development Programs suggest that directors should ask more and better questions.

Our objective today is to assist in achieving this objective as it relates to strategy and marketing.

Let’s start with strategy formulation.

What is Strategy? The Central, Integrated, Externally Oriented Concept of How We Will Achieve Our Objectives

An Overview Objectives Organizational Architecture Values & Beliefs Mission & Vision Strategy Strategic Analysis

Five Elements of Strategy 1.Arenas 2.Vehicles 3.Differentiation 4.Staging 5.Economic Logic

The Five Elements 1.Arenas: Where will we be active? 2.Vehicles: How will we get there? 3.Differentiators: How do we set ourselves apart? 4.Staging: Speed and sequencing 5.Economic Logic: Impact measurement

Arenas Where will we be active? Output Categories Market Segments Geographic Arena Core Technologies Value Creation Stages

Vehicles How will we get there? Internal Development Joint Venture Licensing / Venturing Acquisition

Differentiators 1.Image 2.Customization 3.Cost 4.Quality 5.Ability to Continue Learning 6.From Plow to Plate

Staging 1.Speed 2.Sequencing

Economic Logic 1.Low Cost — Scale 2.Low Cost — Scope 3.Premium Price — Proprietary Service 4.Premium Price — Proprietary Output Features 5.A Continuum

Economic Logic How does this increase my per unit return? or

Economic Logic How does this help us achieve our vision — which is !

An Overview Objectives Organizational Architecture Values & Beliefs Mission & Vision Strategy Strategic Analysis

Professional Networks - Relationships - Trust Ideas Student Opportunities Customized Programs Exchanges Informs Leads to Generates Fosters Finance Organizational Economics Management Sociology Law Agricultural Economics Model Development - Inductive - Deductive Summer Institute Board Chair / CEO Undergraduate Courses Graduate Seminars Graduate Institute of Cooperative Leadership (GICL) A Collaborative Research / Teaching / Outreach Experience Model Testing Academic Outputs - Publications - Conferences Cases Outreach Presentations Training GICL Process Results in Translates to Embedded in

Questions?