Timothy McClelland - Opportunities in family farm business
Study: Oppertunities in family farm business - How does a family farm business recognise and seize business development oppertunities?
Evidence suggests that "owner managers" of family farm business units dominate every aspect of both the "day to day" management and the strategic development of these business units.
Resistance to change coupled with being "risk adverse" are two traits exibited by family business owners. Farmers tend to "farm on till the money is done" rather than critically evaluating production systems, cost structures and profit margins.
Given the oppertunities and threats (both known and unknown) that confront global agriculture, family farm business units have to change. Change should better position these units to become profitable, sustainable and more market focused holdings.
The aim of the study is twofold -
1. To compare and contrast business practice within the farming sector in the British Isles with that pertaining in the rest of the world. The focus being on farming for profit or for sentiment.
2. Based on the findings of part one, to bring recommendations as to how change within agriculture in the British Isles can be brought about.