SWOT Analysis
SWOT Analysis is used to help a farming business become more efficient. The Strengths, Weakness, Opportunities and Threats to a farming business are examined and better management decisions can be made once each of these is identified.
For example:
Strengths
• Good animal husbandry practised leading to good quality cattle
• Sufficiently mechanised to reduce labour requirements
• Tasks and undertakings are planned and consultants input is requested
• Good general interest in improving the farm situation
Weaknesses
• No written plan for the farm
• No written goals for the farm
• No discussion group in the area
• Some jobs are a little rushed at times
• Not many Teagasc events are attended
Opportunities
• More software available to analyse farm accounts
• Information from SCWS and ICBF data can be used to its potential
• Put knowledge obtained from level 6 certificate in agriculture studies to use
Threats
• Pressure from staggered payments from FWMS requires stricter cash flow monitoring
• Difficult to anticipate the national financial situation
When drafting a Farm Plan SWOT analysis can help identify areas for improvement and possible opportunities.
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