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30 Cards in this Set
- Front
- Back
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AGRI-BUSINESS CRITERIA |
Capable farmers Favorable Environment Willing buyers |
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with skills, capacity and organization. |
capable farmers |
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with favorable public policy and donors |
Favorable Environment |
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with adapted private sector policies |
Willing buyers |
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process responsible for identifying, anticipating and satisfying customer |
marketing |
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beliefs or opinions that customers |
reputation |
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financial document that gives the estimated future income, costs, expenses |
budget |
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financial report that gives information on the cash generated |
cash flow statement |
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financial statement that shows the profitability of a business |
income statement |
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meet or exceeds customers' expectations |
customer satisfaction |
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employees are happy and content in their jobs |
employee satisfaction |
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factors that allow a business to differentiate its products) or service(s) |
competitive advantage |
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ELEMENTS TO CONSIDER WHEN STARTING A BUSINESS |
•location of business •costs of getting into business •type of business to be established •money involved in starting a business •time of first income and to break even |
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TYPES OF BUSINESS |
•Single Ownership • Organized Farmer Organizations |
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simplest business form controlled by one person |
single ownership |
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CHARACTERISTICS OF A SINGLE OWNERSHIP |
•managed by a single individual •not a legal entity •employ workers to assist owner •owner receives all profit |
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One of the most important reasons for farmers working together in groups |
ORGANIZED FARMER ORGANIZATIONS |
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cost advantage resulting from an increased output of a product |
economies of scale |
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MAJOR TYPES OF RISKS |
Financial risks Operational risks Reputational risks Employee-related risks |
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possibility of a financiali loss occurring |
financial risk |
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EXAMPLES OF FINANCIAL RISKS |
•external economic pressure •loss of key supplier •increase in lending rates |
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refers to an unexpected failure in production |
operational risk |
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CAUSES OF OPERATIONAL RISKS |
•climatic effect •storage infestations •external events |
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reputation of a business is linked to the beliefs or opinions |
reputational risk |
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OCCURRENCES OF REPUTATION RISKS |
•not honoring contract agreements •selling to alternative customers last minute •not paying loans |
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REASONS FOR EMPLOYEE-RELATED RISKS |
•theft •high staff turnover •lack of knowledge •seasonal labor |
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process of ensuring customer satisfaction |
customer service |
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number of permanent employees who leave a business |
staff turnover |
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ELEMENTS OF A GOOD BUSINESS OPPORTUNITY |
•product meeting a need •access to resources •timing •opportunity working in a location |
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METHODS FOR IDENTIFYING BUSINESS OPPORTUNITIES |
Identify market opportunity Explore new markets Matching risk with resources Identifying customer problems |
