HomeMy WebLinkAboutThe Wingham Advance-Times, 1985-03-20, Page 9414ie - Tke haw Weak et Mock
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Thompson .1/444t6,04SHIMIN
Feed & Supply
Complete line-up of
*Animal Feeds
*Health Products
*Seed Grain
Seed Grain
Come see us for all
your spring planting
needs
Order yourseed
grains NOW! !
Hog Day Specials
April 1 to 12
FREE!!! Shur -Gain
Jackets
*Minimum purchase required.
See us for details.
Day Old Chicks:
We're taking orders nom
-for May Delivery.
395-5955 ThOIflp s o n 395-5959
Feed & Supply
Ripley Elevators /mini
Box 400. Ripley P Y
Since
1892
Miller -Slade Insurance Brokers Inc.
967 - 3RD AVENUE EAST,
BOX 401,
OWEN SOUND, ONTARIO N4K 5P7
(519)376-0590
DURHAM MARKET SQUARE,
P.O. BOX 940,
KINCARDINE, ONTARIO NOG 2G0
(519) 396-3456
OF
COURSE
WE'RE
LOCAL.
C
o0•
!IE
0
CLIENT
HEADQUARTERS
1. Harrislon
2. Hepworth ..
3. Tobennory
4. Lions Head'
5. Shallow Lake
6. Owen Sound
T. Thornbury
8. Walkerton
9. Palmerston
Mount Forest
Markdale
Fleaherton
Chatsworth
Sauble Beach
Southampton
Port Elgin
Kincardine
Tiverton
Hanover
Lucknow
Wingham,
Durham
Mealord
Wiarton
Paisley
Chesley
Mildmay
Ripley
Tara
10.
11.
12.
13.
14.
15.
16.
I7.
18.
19.
20.
21.
22.
23..
24.
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29.
•
WE'VE BEEN
LOCAL FOR
93 YEARS!!
m o ,
Sure we're local, justiike you, we live and have our roots in the Grey -Bruce region. We strive gi provide a total service to our
farm clientele,, with the best possible insurance protection, al the lowest possible cost, underwritten by the most financially
stable farm insurance companies. If you 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 f' Formosa Mutual
Insurance Company
Managing farm for profit
too complex for intuition
Canadian farm 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 decision making
process.
Successful farm managere know that
managing for pmfits is a matter of managing
uncertainty and rids, said Barry J. Coates,
Manager, Agriculture, Bank of Montreal.
Coates was speaking to the FirstBank Farm
Profit Outlook Conference in London. As the
Furst step in managing darns 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-
cence (due to rapid development of new
tecmology 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 of the farm manager to bepresen t at
all times to direct the operation.
"Studies have shown," said Coates, "That
many business managers, farmers included,
tend to, suppress 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
ttu'n to page 15a
Bank seesnew realities
in farm -bank relationship ...
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 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. This was reflected in the Bank's recent
reorganization of its services to provide more
farm banking expertise for its farm custom-
ers.. And
ustomers..And just as, specialization is benefitting
banks, Kouwenhoven said, for farm, enter.
prises "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. •
-- Production: 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 contracts 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 to
manage the increasingly sophisticated pur-
chase
unchase of technologically advanced products
and services from your suppliers."
SCOTT
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395-2992Ripley, Ontario 395-3563
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