The global food and agribusiness industry is in the midst of major changes, and the pace of change seems to be increasing. These changes suggest three fundamental critical future issues for the sector: 1) decisions must be made in an environment of increasing risk and uncertainty, 2) developing and adopting technology and new innovations is critical to long-term financial suc-cess, and 3) responding to changes in industry structure and the competitor landscape and indus-try boundaries is essential to maintain market position. The focus of this paper is the synopsis and application of conceptual/theoretical frameworks that can be used in managerial decision making and analyzing the implications and consequences of strategic uncertainty, innovation and changing industry structure.