Reference no: EM132297085
The Industry and the external environment of this firm.
Look at the external environment of this business firm. Describe the Industry of this firm including the NAICS code.
1. Discuss the trends that operate and affect a firm within this industry. To simplify your analysis use P.E.S.T. to discuss the industry trends.
Technological -Any technological changes that may influence this industry?
Sprout Creek Farm is a 200-acre nonprofit working farm and education center in Dutchess Country. The farm contains three entities which all symbiotically work together to form the farm known as Sprout Creek Farm.
The first entity of the farm is the animal breeding portion of Sprout Creek farm. This portion specializes breeding animals such as free-ranging cows, sheep goats, turkeys, chickens and pigs. A major economic value proposition in favor of Sprout Creek’s Farm socially conscious business model is that a pound of free-range beef on average costs $7.83 per pound in comparison to conventional beef which costs $4.95 per pound
Hence, with the adequate and effective marketing mechanisms set in place to let the beef consuming demographic be aware of the long-term health benefits of the consumption of grass-fed beef, Sprout Creek’s revenue and potentially grow.
Another segment of the operations of Sprout Creek Farm is that the farm acts as a farmer’s market. At the market, the farm sells its internationally award-winning cheeses, milk, eggs and other agricultural produce. Finally, Sprout Creek Farm serves as an education center in which its function is to educate and inspire the principle of environmental stewardship within the local community.
Another entity and revenue generator for the farm is its Day Camps and educational center. The camps and educational center that the farm offers serve entertaining and athletic facilities for individuals during vacation periods
According to their website, Sprout charges $395.00 per child per week to participate in its summer camps.
Additional notes:
One of the main issues of the farm is that is not generating enough profits to sustain itself for expansion in the long-term. Hence, one of the major solutions to this problem could harnessing its summer camps. Maybe having contracts with schools to supply x number of students at a discounted price? We need further information.