HomeMy WebLinkAboutThe Wingham Advance-Times, 1985-03-20, Page 7414n - The Flynn Piitiest, Week of March 2S, 1215
sHuliuN Thompson LA,)
Feed & Supply
30.1111141019,
Complete line-up of
*Animal Feeds
*Health Products
*Seed Grain
Seed Grain
Come see us for all
your spring planting
needs.
Order your seed
grains NOW!!!
Hog Day Specials
April 1 to 12
FREE!!! Shur -Gain
Jackets •
*Minitrnun1 purchase required.
See us for details.
Day Old Chicks:
We're taking orders now
for May Delivery.
395-5955 Thompson 395-5959
Feed & Supply
L)NSHUMURipley Elevators
Box 400 Ripley
LSHLIFf GAIN
Since
1892
Miller -Slade Insurance Brokers Inc.
967 - 3RD AVENUE EAST, DURHAM MARKET SQUARE,
BOX 40I, P.O. BOX 940,
OWEN SOUND, ONTARIO N4K 5P7 KINCARDINE, ONTARIO NOG 260
(519)376.0590 (519)396-3456
OF
COURSE
WE'RE
LOCAL...
® 0
Sure we're local, just like you, we live and have our roots in the Grey -Bruce region. We strive to provide a total service to our
farm clientele, with the best possible insurance protection, at the lowest possible cost, underwritten by the most financially
stable farm insurance companies. If ynu don't see a number representing your area be patient, were on our way. But, if you
can't wait, call us now at 1-800-265-3000.
Representing ft
0
CLIENT
HEADQUARTERS
1. Harristou
2. Hepworth
3. 'Fobermory
4. Lions Head
5. Shallow Lake
6. Owen Sound
7. Thonibury
8. Walkerton
9. Palmerston
10. Mount Forest
11, Markdale
12. Flesherton
13. Chatsworth
14. Sauble Beach
15. Southampton
16. Port Elgin
17. Kincardine
18. Tiverton
'1'9. Hanover
20. Lncknow
21. Wingham
22. Durham
23. Mealord
24. Wiarton
25. Paisley
26. Chealey
27. Mildmay
28. Ripley
29. Tara
WE'VE BEEN
LOCAL FOR
93 . YEARS!!
Formosa Mutual
Insurance Company
Managing farm for profit
too complex for intuition
Canadian farmers 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
farming have to be identified and specifically
considered as part of the derision making
process.
Successful farm managers know that
managing for profits is a matter of managing
uncertainty and risks, said Bany J. Coates,
Manager, Agriculture, Bank of Montreal.
• Coates wasspeaking to the FirstBank Farm
Profit Outlook Conference in London. As the
first step in managing farms for profit, he
advised farmers to identify all the risks
associated with fanning.
The various kinds of risks were identified
as production, market, financial, and obsoleS-
oanoe (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, hail, flood
and theft. Human risk revolves around the.
ability off the farm manager to be present at
all times to direct the operation.
"Studies have shown," said Coates, "That
many business niers, fanners included;
tend to suppress or discount consideration of
the risk, as they make decisions: They fail to
deal with them explicitly." -
Coates said that over the past few years .the
tum to page 15a
Bank sees new realities
in farm -bank
from page 13a
anyone -- farmers, dealers, governments,
friends or banks. Credit worthiness must be
documented.... We require that requests for
credit are supported by complete fmancial
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. This was reflected in the Bank's recent
reorganization of its services to provide more
farm banking expertise for its farm custom-
ers.
ustomers. And just as specialization is. benefitting
banks, Kouwenhoven said, for farm enter-
prises
nterprises "I believe a more specific splitting of
business functions could prove useful as
well."
He suggested these functions as essential:
-- Control: set specific goals such as return on
equity and profitability.
relationship ®..
- - Production: the goal has to be productivity
and efficiency, more saleable prodpuct at
lower per-unit cost.
--Marketing: organize specifically to market,
not just sell, for maximum revenue.
-- Legal: insist on contracts in writing for all
your involvements.
- - Research and development: no modem
farm business can survive without research.
A fifth irnpaat is intensification of the
professional supplier - client , relationship.
"Suppliers, Bank of Montreal included, are
segmenting their markets and targeting
clients," Kouwenhoven a d. ''.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 fanners.
"You, as a general farm manager, have to
manage the increasingly sophisticated pur-
chase of technologically advanced products
and services from your suppliers."
SCOTT
DRAINAGE
-Drain Tile Systems
•Erosion Control Structures
.Free Estimates
395-2992 ' . RipI ' y,. Ontario ..395-3563
y
Tile Drainage