Stage 5: Long-term goals
During the previous stage of the journey to farming success a strategic analysis of the SSWFOT was done and the choice concerning the positioning of the farming business in the agricultural industry was made. Management has analysed the farming business and the entire external environment with great caution and in fine detail. The factors that assist in creating and sustaining a competitive advantage have been identified and factors were considered that have a negative impact on the farming business.
The management team is now ready to commence with the rest of the journey to the place called long-term goals. Long-term goals must be developed with close consideration of the farming business’s mission and strategic vision, which will support the long-term goals. The long-term goals must assist the farming business in achieving the strategic vision
During the previous stage priorities were assessed and improvements identified that the farming business should undergo to improve the current situation. These priorities will form the core in formulating the long-term goals. The long-term goals will focus further on the key performance areas or exceptional characteristics of the farming business. The most important limitations identified to achieve success will also play an important role in formulating long-term goals.