Articles - Business

In 1980, Michael Porter, distinguished professor at Harvard Business School, wrote that competitive strategy is “how a firm can actually create and sustain a competitive advantage in its industry.” In his book Competitive Strategy, he outlines that the two basic types of competitive advantage are cost leadership and differentiation.

While this is not an exhaustive list for employers, it is a sampling of the most common mis-steps well-intentioned employers make as they work through their day-to-day responsibilities of running a business and employing a team. 1.

Through good times and bad in agriculture, farmers generally cherish the idea of passing their family farm on to the next generation. The farm community’s practice is to celebrate and even commemorate the moment the family farm reaches the century mark.

During periods of high commodity prices and profitability, farm business owners should be diligent to financially prepare for the next period of low prices. The following are strategies that could help you build working capital to be ready for the next cycle of low prices.

In commodity production, high prices are the result of more demand than supply. In the past 20 years, the pork industry has been fortunate to increase demand through exports. More demand than supply results in high prices and creates profitability that attracts financial capital.

It’s time to start a new group of pigs. If you want your best closeout, get your weaned pigs off to a good start. This begins long before the pigs arrive.