Components

Farmers Quest Case

A Farmer’s Quest for a New Passion: To Grow “All Natural” Food by Aquaponics

Oi Lin Cheung, Indiana University East
January 12, 2021
SKU:
BUS-007293
Region: 
North America
Topic: 
Entrepreneurship, Strategy & General Management, Accounting & Finance
Length: 
9 pages
Keywords: 
business risk, forms of business organization, operating profit, funding sources, business problem solving
Student Price: 
$4.00 (€3.39)
Average rating: 
0

Danny Howard had been a soil-grown farmer who learned the concepts and techniques of aquaponics from a lecture in an agricultural class in his late fifties.  He felt fascinated about this new type of farming to him.  Good results from his own experiments encouraged him to switch his traditional farming operation to aquaponics.  However, he had no luck in applying for a bank loan for the makeover and operation.  Although Danny was very passionate in growing vegetables by aquaponics, unless his granddaughters wanted to grow the aquaponics operation in the future, it looked like there was no way he could do that himself.  Being a passionate farmer who had acquired the necessary skills in his late fifties, Danny was lacking good health condition as well as sufficient labor and financial assistance at the same time. Would he be able to carry on his dream mission as to provide enough income for his own family on the one hand and be a source of healthy food in the area on the other hand?

Learning Outcomes: 
  1. Discuss the different forms of business organization
  2. Apply SWOT and break-even analyses
  3. Examine the risks of a business and its management methods
  4. Estimate the profit of a business operation
  5. Identify the different funding sources for a business
  6. Demonstrate the ability to solve business problems