Business Strategy Midterm Exam Guide: Focus on Organic Hemp

T1-2024 BADM 490 - Business Strategy Midterm Saturday Feb 17, 2024, 12:00 PM – 2:00 PM Your name (please print): Mandeep Kaur (20000793) INSTRUCTIONS: This is an open book exam.  During the exam you must neither give nor receive any aid (in person or electronically), video cameras must be turned on and mic should be on mute.  Read the questions very carefully and understand the difference between describe, explain, discuss, identify, contrast, construct, solve before writing your answer  Your answers must include the use of management theory, critical thinking, and application and must be relevant to the case study  Management narrative must be 150-200 words and should be explained as a “summary” of information presented in the analysis table.  You should attempt ALL questions from Part A, B and C  Save this document immediately in a .doc format on your personal device with the following name “490S3-Midterm-Your Name-Student ID”. Make sure to remember the saved location on your device. For grader use only: Section Total Points Marks Part A 10 Part B 20 Part C 20 Total 50

Part A – Case Study – Pre-Analysis 1. Identify Key pieces of information from the case study which could be used in Part B (external analysis) and Part C (Internal analysis). Kroeker is the largest potato grower in Manitoca and Canada’s leading potato grower. This information helps us understand their current position in the market and their trajectory In 2016, Kroeker Farms had 500 acres of organic hemp, planning to expand to 1,100 acres in 2017. This information helps to understand about they want to grow more in hemp market by doubling the production hemp and indicates a strategic focus on diversification. the existing 11,000 acres of land, with 4,000 acres certified organic This information presents an opportunity to delve into production processes and efficiency improvements, especially in the context of the planned hemp expansion.

Part B – External Analysis 2. Perform External analysis to “Identify market opportunities for Organic Hemp Production” . Hint: Please remember that we are trying to use the theoretical information and apply it to the practical situation as presented in the case study. The green text below is only shown as a hint/guide and it must be replaced with case specific information. Strategic Goals (min 2) Analysis Type (specific area related to the goals) Practical Analytical Framework Practical Analytical Response (including impact on related areas) Analytical Results 1. Identifying Market Opportunities for Organic Hemp Production Theoretical Reference: Strategically, the farm aims to expand organic crop production, making it crucial to assess market dynamics 1 . Analyzing growth trends in the organic market. Theoretical Reference: understanding competition, and evaluating the regulatory environment are essential. Relationships: 1A. organic products 1B. sustainable and natural alternatives Factors: 1A. growing demand 1B. consumer preferences Analytical Questions 1. What competition analysis highlights? 1. the presence of both established and emerging players, emphasizing the need for differentiation. 1. Regulatory consideration s underscore the importance of compliance and sustainable practices, shaping the farm's market positioning.

Your preview ends here

Eager to read complete document? Join bartleby learn and gain access to the full version

Access to all documents
Unlimited textbook solutions
24/7 expert homework help

2. Diversify Product Portfolio Theoretical Reference: 2. Product Portfolio Analysis Theoretical Reference: Relationships: 2A. Market Demand 2B. Innovation Factors: 2A. Product Differentiation 2B. Growing market Analytical Questions 2. What is the impact of new technology adoption? 2. The potential products for diversification within the organic segment and the market demand and potential profitability of new organic products. 2. Understand market demand and profitability potential for diversified organic offerings. Management Narrative: Kroeker Farms has a long-standing history of producing high-quality crops and is now well-positioned for growth by expanding its organic hemp production. Through an external analysis, the farm has identified market opportunities driven by consumer preferences and regulatory trends.

Part C – Internal Analysis 3. Perform Internal analysis to “Improve Production Processes” . Hint: Please remember that we are trying to use the theoretical information and apply it to the practical situation as presented in the case study. The green text below is only shown as a hint/guide and it must be replaced with case specific information. Specific Strategic Goals (min 2) Analysis Type (specific area related to the goals) Practical Analytical Framework Practical Analytical Response (including impact on related areas) Analytical Results 1. Improving Production Processes Theoretical Reference: Internally, Kroeker Farms aims to improve production processes 1. focusing on efficiency and technology adoption. Theoretical Reference: The assessment of current production methods reveals areas for enhancement, particularly in weed management and resource utilization. Relationships: 1A. enhancement 1B. resource utilization Factors: 1A. production methods 1B. new technology use Analytical Questions The adoption of innovative technologies is a viable solution? 1. The adoption of innovative technologies, such as camera cultivators and air seeders, emerges as a viable solution to optimize precision farming. 1. It emphasizes the farm's commitment to sustainable practices and staying competitive through the adoption of cutting-edge technology.

2. Optimize Human Resource Management 3. Human Resource Optimization Relationships: 2A. Employee Training 2B. Technology Adoption Factors: 2A. Human Resource Management 2B. Skilled workers Analytical Questions 2. What are the impact of new technology adoption? 2. Assess the impact of new technology adoption on employee training and potential frustrations and opportunities to enhance workforce skills and engagement. 2. comprehensive training programs to employees for effective use of new technology. Moreover, a positive work environment and address any potential frustrations related to technology adoption. Management Narrative: Internally, the focus is on improving production processes to achieve efficiency and sustainability. The farm's story revolves around its strategic approach to staying ahead of the competition by embracing innovation, ensuring compliance, and meeting the ever-changing demands of the market. By integrating market insights and internal improvements, Kroeker Farms is in a prime position to continue succeeding in the dynamic agricultural sector.

Your preview ends here

Eager to read complete document? Join bartleby learn and gain access to the full version

Access to all documents
Unlimited textbook solutions
24/7 expert homework help

490S3-Midterm-MandeepKaur-20000793

Related Documents