The Lucknow Sentinel, 1985-03-20, Page 62Thompson op,
Feed 8z Supply
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 DaySpecials
April I. to 12
FREE!!! Shur -Gain
Jackets
*Minimum purchase required.
Sets us for details.
Day Old Chicks:
We're taking orders now
' for May Delivery.
395-5955 Thompson 395-5959
Feed & Supply..'
Ripley Elevators
Box 400 Ripley
( SHUR•GAIN
14a - .The Fenn Mit1a e, Week of Mired 20, 1885
Miller -Slade Insurance Brokers Inc.
967 - 3RD AVENUE EAST,
BOX 401, -
OWEN SOUND, ONTARIO N4K 5P7
Since (519) 376.0590
1892
DURHAM MARKET SQUARE,
P.O. BOX 940,
KINCARDINE, ONTARIO NOG 2G0
(519) 396.3456
OF
COURSE
WE'RE.
LOCAL...
FP
civ
e o
Sure we're local. lust like you, we liye andhave 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 you don't see a number representing your area be patient, we're on our way. But, if you
can't wait, call us now at 1.800.265-3000.
Representing ft Formosa Mutual
IntsllFaoce Company
0
CLIENT
HEADQUARTERS
1. Harriaion
2. Hepworth
3. 'robermory
4. Lions Head
5. Shallow take
6. Owen Sound
r Thornbury
8. Walkerton
9, Palmerston
10. Mount Forest
11, Markdale
12. Ftesherton
13, Chatsworth
14, Sauble Beach
15. Southampton
16, Port Elgin
17. Kincardine
18. Tiverton
19. . Hanover
20, Lncknow
21, Wingham
22. Durham
23. Meatord
24, Wharton
25. Paisley
26. Chesley
27, Mildmay
28. Ripley
29, Tara
WE'VE BEEN
LOCAL FOR
93 YEARS!!
1
M
Managing farm for profit
too complex for intuition
Canadian fanciers 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 malting
process.
Successful farm managers know that
managing for profits is a matter of managing
uncertainty and risks, said Barry `J. Coates,
Manager, Agriculture, Bank of Montreal.
Coates was speaking to the FlrstBank 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-
cence (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 of the farm manager to be present at
all times to direct the operation. -
"Studies have shown," said Coates, "That
many business managers, fanners included,
tend to suppress or discount consideration of
the risks as they make decisions. They fail to
deal with them expliciitjyy. .
Coates said that over the past few years the
turn to, page 15a
Bank sees new 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 w.as
specialization of business management fund-
tions.
undtions. This was reflected in the Bank's recent'
reorganization of its services to provide more
farm banking expertise for its fann custom-
ers. And just as specialization is benefitting
banks, Kouwenhoven said, for farm enter-
prises "I believe a.niore 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 modern
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 of technologically advanced products
and services from- your suppliers."
SCOTT
DRAINAGE
-Drain Tile Systems
•Ero.sion Control Structures
°Free .Estimates
395-2992 Ripley, Ontario 395-3563
Tile Drainage