Fri, 2012/08/24 - 6:09pm
Why Taking Stock?

A farm manager’s objective is to identify and employ available resources efficiently and effectively in the production of a horticultural and/or animal crop. The goal is to do it profitably. Agricultural production factors are land, labour and capital. While ‘labour’ might embody the managerial decision-making input as well as physical labour, it needs to be viewed as a fourth factor of production otherwise the decision making and the production activities may become blurred.
The BC Agri-Food Business Development unit’s (BDU) goal is to build farm management capacity in BC’s agriculture sector. How the unit hopes to do that is through producer awareness of best methodology practices as they juggle the variables of customers, employees, competitors, capabilities, cost structures, industry evolution, and regulatory environment.
Business Strategy, Marketing Strategy, Production Economics, Human Resources, Financial Management, Social Responsibility, Succession Planning, Business Structure and Risk Management are all areas of importance to the farm business manager. To assist the manager in taking his business temperature, the BDU has developed a self-assessment tool called Taking Stock, A Farm Business Planning Workbook.
The Taking Stock workbook guides producers through a self-assessment of their current farm business management practices. The journey works through identifying the farm’s strengths and weaknesses and establishing priority actions required to address both personal and business goals and establishes a farm action plan to guide farm business management decisions. This plan is a requirement for accessing Farm Business Advisory Services program funding. This should help give producers a better sense of their overall situation, goals and priority actions to enable the farm management team to develop successful business plans and strategies.
Take time to explore www.smartfarmbc.ca