For instance, what is Purdue doing that enables their chicken breasts to be larger and more succulent than Tyson’s? In such competitive industries, these companies want to stand out from their competitors. Is one raising their chickens differently? Has a new technique or food-source been developed? All of this will ultimately impact the consumer who makes the purchase in the local grocery which enables the product to be financially viable. A good example is the recent consumer desire to purchase organic products. Producers must now make a determination on whether to enter into this market space, to alter their assembly lines of this production to meet the strict requirements of these consumers. This is perilous. What if the assembly lines change and the consumer decides overnight that this is no longer important to them? Businesses fail each day because they failed to determine if somethingwas a fad or a trend. A good strategy seeks to resolve this question.
Michael Porter addresses many interesting points in his piece, “What is Strategy?” His five primary points have much relevance in the highly competitive food and agricultural industrywhere markets are constantly changing and evolving. Ultimately, your business strategy will make or break you company. Considering Porter’s five steps and continually assessing them against your business strategy can be integral in running a successful business in the food and agricultural industry.
Works Cited Ernst, Stan. PSU Instructure. 29 Jan. 2017"What Is Strategy?" Harvard Business Review. N.p., 03 Sept. 2015. Web. 29 Jan. 2017.
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