HomeMy WebLinkAboutClinton News-Record, 1985-3-20, Page 731.40 - ?FIS u W t0, X9 89
Thompson
st�u6,
Feed & Suppiy
Complete line-up of _..... -y,
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*Health Products
*Seed Grain
SHUR'GAIN.
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Hog Day Specials
April 1 to 12
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Day Old Chicks: for May Delivery.
395-595.5 Th O mp SO irl 395-5959
SHOR GAIN
Feed & Supply
Ripley Elevators N)
Box 400 Ripley
Miller -Slade Insurance Brokers Inc.
DURHAM MARKET SQUARE,
P.O. BOX 940,
KINCARDINE, ONTARIO NOG.2G0
(519) 396-3456
967 - 3RD AVENUE EAST,
BOX 401,
OWEN SOUND, ONTARIO N4K 5P7
Since (519) 376-0590
1892 —
OF
COURSE
WE'RE
LOCAL..
o
Sure were local, just like you, we live and have our roots in the Grey -Bruce region. We strive to provide a total service 10 our
farm clientele, with the best possible insurance protection, at the lowest possibld cost, underwritten by the most financially
stable farm insurance companies. If you don't see a number representing your area be patient, we're on'.our way. But, if you
can't waft, call us now at 1-800-265-3000.
•
Representing
5
CLIENT
HEADQUARTERS
1. Hnrriston
2'. Hepworth
3. 'robermory
9. Lions Head
5. Shallow Lake
6. Owen Sound
7. Thornbury
S. Walkerton
9,• Palmerston
10, Mount Forest
Il. Markdale
12. Fleaberton
13. Chatsworth
14. Sauble Beach
5. Southampton
16. Port Elgin
17. Kincardine
15, Tiverton
19, Hanover
26, Lucknow
21. Wingham
22. Durham
23, Mearord
24. Wiarton
25, . Paisley
26. Chesley
27. Mildmay
29, Ripley
29, Tara
WE'VE BEEN
LOCAL FOR
93 YEARS!!
Formosa Mutual
Insurance Company
Manaiig farm for }profit
too complex for intuition
Canadian famoers were told recently that
many decision with regard to their enterpris-
es are two complex and important to be
handled by intuition. The risks involved in
fanning haw to be identified and specifically
considered as part of the decision melding
process.
Successful farm managers know that
managing for profits is a matter of n7anagin0
uncertainty and risks, said Barry J. 'Coates,
Manager, Agriculture, Bank of Montreal..
Coates was speaking to the FTrstBank Farm •
Profit Outlook Conference in London. As the
first step in managing fares for profit, he
advised fanners to identify all the risks
associated with fanning.
'the various kinds of risks were identified
as pmducion, market, finannal, and obsoles-
once (due to rapid development of new
technology which make current methods
obsolete).
Another category, casualty risk, refers to
the loss of assets due to fire, wind, hal, flood
and theft. Human risk revolves around the
ability of the fann manager to be present at
all times to direct the operation.
"Studies have shown," said Coates; "That
many business managers, faunas included,
tend tosuppress or discount consideration of
the risks as they make decisions. They fail to
deal with them explicitly."
Coates said that over the past few years the
tursi to page 15a
Bank sees new realities
in farm -bank relationship ...
from page 13a
anyone -- fanners, dealers, governments,
friends or banks. Credit worthiness must be
docwneented.... We require that requests for
credit are supported by complete financial
statements -- including cash flows -- with
comparison budgets. The quality of farm
records makes a dramatic statement about
farm management capabilities."
A fourth impact of the new realities was
specialization of business management func-
tions.
undtions. This was reflected in the Bank's recent
reorganization of its services to provide more
farm banking expertise for its farm custom-
ers. And just as specialization is benefitting
banks, Kouwenhoven said, for farm enter-
prises
nterprises "I believe a more specific splitting off
business functions could prove useful as
well-"
He suggested these functions as essential:
-- Control: set specific goals such as return on
equity and profitability.
Pmdudinn: the goal has to be productivity
and efficiency, more saleable product at
lower per-unit cost.
--Marketing: organize specifically to market,
not just sell, for maximum revenue.
-- Legal: insist on contrails in writing for all
your involvements.
-- Research and development: no modem
farm business can survive without research.
A fifth impact' is intensification of the
professional supplier - client relationship.
"Suppliers, Bank of Montreal included, are
.segmenting their markets -and 'targeting
clients," Kouwenhoven said. "Obviously, the
clients within the agriculture sectors that
receive most marketing effort are those that
purchase the majority of the product -- the top
25 per cent of farmers.
You, as a general farm manager, have ti
manage the increasingly sophisticated pur-
chase of tedmologically advanced products
and services from your suppliers."
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1