This staff paper explains the basic process of strategic management. This involves developing a vision of what you want your farm to be in the future, describing the farm's current mission, setting objectives, understanding your chosen industry and your farm's place within that industry, identifying the major advances of building and maintaining strategic advantage for your farm, crafting and testing a strategy for your farm, implementing that strategic plan, evaluating performance, reviewing new developments, and making corrective adjustments, as needed, in the plan and its implementation.