DAIRY NEWS – Dairy owners, consultants, lenders and other dairy stakeholders have a new opportunity to amplify their HR management and financial literacy skillsets with the new Business Management & Advanced Finance Workshop presented by Professional Dairy Producers (PDP). The high-impact, two-day program will feature a blend of conceptual discussions and case studies to show participants how to implement best practices in their dairy operations.
The workshop will be held Wed., Oct. 30, and Thu., Oct. 31, at Compeer Financial in Sun Prairie, Wis., running from 9:00 a.m. to 6:30 p.m. on Wednesday and 8:00 a.m. to 4:00 p.m. on Thursday.
“This capstone course offers an invaluable opportunity to review your dairy’s progress and chart a path for continued growth and success,” said Cassandra Strupp, PDP program manager. “Through interactive case studies and real-world applications, you’ll strengthen your ability to implement best practices that will drive your business forward with innovation and precision.”
Core topics of the program include:
- Farm management proficiency. Assess and enhance key competencies in financial and human resource management.
- Financial statements. Master the development and interpretation of balance sheets and income statements, focusing on key financial strategies.
- Financial metrics and simulation. Experiment with the DuPont financial simulation model and use partial budgeting tools to assess the impact of strategic shifts on your operation.
- Cost and managerial accounting. Understand the crucial differences between managerial accounting and enterprise analysis, and learn to build cost centers and profit centers for accurate financial management.
- Family business governance. Develop a robust governance structure with clearly defined roles, responsibilities, and operating procedures that align with your mission, vision and core values.
- Growth management. Identify sustainable growth strategies and optimize acquisition of capital assets.
The workshop will be facilitated by Dick Wittman, Wittman Consulting. Wittman is board chair, transition coach and former manager of a 20,000-acre crop, cattle and timber operation in northern Idaho. He conducts seminars, workshops and private consulting services to farmers and agribusinesses. His specialties include financial and family business management, transition planning, consultant training and conflict management.
To ensure that participants get the most out of the course, each person will complete pre-class assignments designed to assess current application of the course principles. This preparation will enable everyone to more rapidly implement the strategies and tools.
PDP Business Management & Advanced Finance Workshop is accredited for up to 12.5 Dairy AdvanCE continuing education credits.
Learn more about the workshop by visiting www.pdpw.org or calling 800-947-7379. Follow along digitally in advance of and during the event by following @dairyPDPW and using #mypdpw on Facebook, Twitter, Instagram, and LinkedIn.
Professional Dairy Producers (PDP) is the nation’s largest dairy producer-led organization of its kind, focusing on producer professionalism, stakeholder engagement and unified outreach to share ideas, solutions, resources and experiences that help dairy producers succeed.”
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