David Kohl
Virginia Polytechnic Institute & State University
From the Train the Trainer Handbook: Integrated Approach to Risk Management:
Business, family, and personal
Thinking outside the boxes
Old Era Risk: Technology applied to production
Price
Financial (inflation, interest rates)
Financial leverage
Marketing
Government
Global and political
New Era Risk: Age wave, transition planning
Government price supports
Technology applied to management, marketing and finance
Globally driven markets
Environmental
Traditional marketing
Value - added marketing
Labor
Financial
General economy
Enterprise trends
Prioritization of Risk - Mega and Large Family Units: 5 % of farm numbers
Labor (family and hired)
Marketing (value - added & traditional)
Finance (interest rate, size & scope)
Family transition and retirement planning
Environmental
Legal, insurance and estate planning
Public, political (international, national, state and local)
Technology and information
Family consumption
Time management
Energy, water, and land quality
Prioritization of Risk - Tweener Farm Units: 25 % of farm numbers
Size and scope
Finance
Living and consumption
Outside income
Retirement planning
Other
Prioritization of Risk - Lifestyle Farm Units: 70% of farm numbers
Time management
Compatibility with farm goals
Outside income
Production
Operational issues
Public and political (local, state)
Living and consumption
Strategic Alliances Priority - Mega and Large Family Units:
Lender
Livestock, crop, or labor consultant
Agribusiness
Private consultant, facilitator
Accountant, lawyer, financial planner
Information manager
Nation and international level
Strategic Alliances Priority - Tweener Farm Units: Lender
Agribusiness
Specialty consultant (crop, marketing, finance)
Extension
State and local level
Strategic Alliances Priority - Lifestyle Farm Units: Extension
Production / operations consultant
Legal
Local level
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