FARMING: A Guide on Journey to Better Decision Making

Western Mail (Cardiff, Wales), May 21, 2003 | Go to article overview

FARMING: A Guide on Journey to Better Decision Making


Byline: Nigel Davies

HSBC

WHAT impact will the CAP review have on my business? How much milk quota should I buy? What crops will I sow this autumn?

I suspect that no matter how heavy the daily workload, the future is never far away from the thoughts of any producer in Wales.

These questions are only three of many that will test most farmers.

With ever-increasing paperwork and the vagaries of the weather to contend with, turning that thinking time into constructive decision making and clear business direction can be easier said than done. Many farmers have never before experienced so much uncertainty over external factors, further hampering the prospect of clear thinking.

However, any business that fails to invest or make active decisions as to its future, for whatever reason will have a limited future and is inevitably handing the control and responsibility of that business to someone or something else.

Most producers have always been energetic and innovative, but those who wish to take care of their own future, and who do not wish to abdicate the responsibility to someone else, must also become bold and decisive de-cision makers. Like setting out on any treacherous journey, there are fundamentals in decision-making, as in travel, that must be observed: 1. Producers must know their starting point.

An intimate knowledge of the present competitiveness of the business is essential at the start of any decision-making. What are the strengths and weaknesses that will need to be addressed on the journey? Not all travellers will complete the journey and not all farms will survive the future, therefore a full appreciation of the current position is critical.

2. …

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