VCM 564: Introduction to Livestock Business Strategy
3 Credit Hours
Course Description
This 8‑week course introduces core business strategy concepts commonly taught in business schools, adapted for decision‑making in the livestock production industry. Students evaluate their current business by analyzing internal and external factors, performance measures, and competitive positioning. Building on this assessment, learners develop a practical strategic plan aimed at improving future business outcomes.
On‑demand lectures from Professor Peter Foreman provide foundational business frameworks, while weekly applied sessions with Dr. Jim Lowe connect these concepts directly to real‑world livestock production systems.
Course Goals
This course equips students with foundational business strategy concepts and demonstrates how to apply them within the livestock production industry to build a stronger, more effective business strategy.
Learning Objectives
Upon successful completion of this course, students will be able to:
- Understand the basic business strategy concepts.
- Ability to conduct an external and internal analysis of an industry.
- Develop a business strategy and implementation plan.
Course Topics
Module 1: The Concept of Strategy
- What is Strategic Management About?
- Strategic Coherence
- Why Are Some Livestock Producers More Successful Than Others?
Module 2: Strategic Management Process
- The Strategic Management Process: Beginning with Strategic Intent
- The Strategic Management Process: Incorporating Stakeholders
- Strategic Intent and Stakeholders in Livestock Production Firms
Module 3: Industry Analysis
- The General External Environment and an Introduction to Industry Analysis
- Porter’s Five Forces Framework
- Porter’s Five Forces Framework Part 2
- Then and Now: External Forces on the Livestock Production Industry
Module 4: Resources and Capabilities
- Introduction to the Resource-Based View
- Conducting a Value Chain Analysis
- Core Competencies: Going Deeper
- Applying the Resource-Based View
- The Role of Outsourcing and How Livestock Production Firms Create Value
Module 5: Competitive Advantage
- Competitive Advantage: An Introduction
- Creating Competitive Advantage
- Sustaining a Competitive Advantage
- The Drivers of Superior Returns in Livestock Production Firms
Module 6: Business-level Strategy
- Business Level Strategies: Cost vs. Differentiation
- Business Level Strategies: Variations
- Competitive Advantage and Business-Level Strategies in Livestock Production Firms
Trying to decide if this program is right for you?
We’d be happy to answer any questions that you have.