Study Operational Business Management
Successful businesses are not always the most productive, innovative, or skilled; but they are usually the ones with the best operational management.
There are 10 lessons in this course:
- The Economic Environment
- External Influences on Horticultural Enterprise
- Information Management for Horticulture
- Strategic Planning in Horticulture
- Implementing Strategies
- PBL Project:Developing a Business Plan
- Business Control Systems for Horticulture
- 8.Evaluating Horticultural Marketing
- 9.Marketing Strategies for Horticulture
- Each lesson should require around 10 hours of work, except for Lesson 6, which will require around 20 hours.
Each lesson culminates in an assignment which is submitted to the school, marked by the school's tutors and returned to you with any relevant suggestions, comments, and if necessary, extra reading.
How Well Do You Manage Innovation?
- Explain the economic environment in which horticultural business operates.
- Appraise the impact of external influences.
- Establish the type of information required for operations in both commercial businesses and service organisations.
- Examine the process and analyse approaches to strategic planning.
- Examine the process and analyse approaches to strategy formation and implementation.
- Prepare a business plan.
- Assess the importance of business control systems utilising IT integration into financial management; prepare, read and interpret annual statements, appreciate the importance of budgetary control.
- Identify the benefits involved when preparing marketing plans; analyse organisational strengths, weaknesses, opportunities and threats.
- Formulate customer-orientated and realisable strategies for selected markets
Innovation management corresponds to the development of new products, processes and services. In cases where the organization does not make or offer products (goods or services), innovation lies in improving the way jobs are done to meet the organization’s mission (ie. process innovation). This first started with Edison in the late 1800’s and also incorporates research and development (R and D).
In many major sectors of the economy, a key to long-term competitive success depends upon innovation; in other words, bringing new product or service ideas to the marketplace.
There are two key elements to innovation: get it right and get in first. Which is the more important? This is not possible to answer, as past cases have given contradictory results.
eg. The originator of the filled ice-cream cone was Lyons Maid (now Nestlé) with a product called King Cone. Walls came into the market second with Cornetto. In this case, getting it right proved more important than getting in first.
It is imperative than any future innovations are well detailed in the business plan, especially if funding is being sought to finance the project. You must also note whether you predict that the innovation will affect sales of your other products/services ie. will they replace existing products?