I. General Information

1. Course Title:
Fundamentals of Financial Mgmt/Strategic Plan Emphasis

2. Course Prefix & Number:
FBMA 2932

3. Course Credits and Contact Hours:

Credits: 3

4. Course Description:

Students will identify the elements necessary to create, evaluate, and implement a strategic plan for the business. Student will utilize financial information and records to develop the strategic plan.

5. Placement Tests Required:

Accuplacer (specify test):

No placement tests required

Score:

6. Prerequisite Courses:

There are no prerequisites for this course.

9. Co-requisite Courses:

There are no corequisites for this course.

II. Transfer and Articulation

3. Prior Learning - the following prior learning methods are acceptable for this course:
International Baccalaureate

III. Course Purpose

1. Program-Applicable Courses – This course is required for the following program(s):

Advanced Farm Business Management, Certificate

IV. Learning Outcomes

1. College-Wide Outcomes

College-Wide Outcomes/Competencies	Students will be able to:
Demonstrate written communication skills	Have a written strategic plan in place.
Analyze and follow a sequence of operations	Identify a problem, gather information and solve the problem.

2. Course Specific Outcomes - Students will be able to achieve the following measurable goals upon completion of the course:

• Evaluate the impact of the strategic plan effecting the farm financials and operation;
• Measure the importance of both internal and external environmental monitoring;
• Identify the action steps necessary to implement the plan;
• Prioritize the steps necessary to formulate action plans and contingency plans;
• Compare key financial ratios to identify the ideal business capacity;
• Identify specific business trends and evaluate business performance;
• Describe & diagram the primary elements of strategic business plan;
• Contrast the market forces impacting business capacity; and
• Recognize the components in creating a business mission statement.

V. Topical Outline

Listed below are major areas of content typically covered in this course.

1. Lecture Sessions

1. Reviewing the elements of a strategic plan for the farm business

• Describe the process of strategic planning
• Determine what part the strategic plan will have on the farm portfolio
• Recognize the importance of both internal and external environmental monitoring
• Recognize key financial ratios to use to create gap analysis to identify the ideal future and business capacity
• Identify specific business trends and evaluate a potential business performance audit

2. Preparing a strategic plan for the farm business

• Diagram the primary elements of strategic business modeling
• Contrast the driving force of a business from distinctive business competencies
• Recognize the who, what, how, and why in creating a business mission statement
• Determine elements of business values.  Scan & integrate those with family, business & financial goals

3. Implementing the strategic plan for the farm business

• Identify the action necessary to implement the plan
• Categorize the steps necessary to formulate action plans and contingency plans