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They encompass Political changes, Economic changes, Social changes, Technological changes, Globe business plan promotion changes as well as Legislative changes. The assessment of the external environment is conducted with the view of identifying key issues pertaining to opportunities or threats that are within the context of Sheep Farming and applicable to AfriAgric Sheep Farm.
The business will essentially capitalise on the opportunities identified and avoid the threats. Improved skills, competencies and knowledge will be an asset to the operations and general management of AfriAgric Sheep farm The performance and welfare of the Agricultural sector in the Republic of South Africa was affected by the fact that it was deregulated.
The sector is now moving towards being more competitive as the government is no longer strictly regulating the industry. AgriBEE strives to create linkages, partnerships and networks for balanced, mutually benefiting results for all concerned.
It enhances competitiveness and sustainable development for agricultural business concerns The promotion of SMME development in South Africa has been intensified. Small business development programmes seek to help small businesses improve the quality of their products as well as their well being.
Key areas have been marked for businesses, residential occupancy, farming and other uses. This is an opportunity for the business as dedicated land for Agriculture is made available for entities engaged in farming activities Women and Youth Empowerment is one of the key agendas for the South African Government at present.
The availability of support programmes such as The National Youth Development Agency NYDA will be an opportunity for the business in terms of access to both financial and non financial support.
This is likely to open up opportunities for the business to have a presence in neighboring countries to South Africa, other parts of Africa and the overseas market The current food security concerns have led to intensified support for Agricultural based projects by the Government.
This is certainly an opportunity for AfriAgric Sheep Farm The movement against anti-competitive behavior by the Competition Commission is an opportunity for the business. In the most recent intervention by the Reserve Bank, interest rates remained unchanged — the repo rate is currently 6.
This is an opportunity for the business as the cost of borrowing interest is less The current high electricity prices and the proposed increments over the forth coming years will be a threat to the business entity as high electricity prices shall result in high operating costs and this shall negatively affect the profitability of AfriAgric Sheep Farm Fluctuations in exchange rates may cause imported inputs such as petrol, capital equipment and other items to be costly particularly in scenarios where the Rand is weaker.
Petrol will be a key resource for transporting Sheep to the market. Where the price of petrol is high, high operating expenses could be incurred The inflation rate or general rising of prices in the economy might be affected by the rise in electricity and petrol prices. This is likely to be a threat to the business as the money in possession by consumers will be less valuable or only be able to purchase fewer commodities.
High inflation usually leads to high unemployment rates. There is a trade off between inflation and unemployment. High unemployment rates result in undesirable markets for businesses and the same applies to AfriAgric Sheep Farm 1.
This means that families have a greater disposable income as compared to previous social set ups where only one person was an income generator in families.
An increased disposable income of families implies a greater market with a better buying potential for AfriAgric Sheep Farm The growing number of middle income families will be an opportunity to the business entity.
Similar to the growing number of double income families, this scenario shall result in increased numbers of potential customers with buying power The movement towards healthy eating by consumers is an opportunity for the business.
This shall be an opportunity for the business as Sheep meat is a great source of Protein The general increase of the population in the location of the business and surrounding regions will be an opportunity to the entity as this has resulted in greater markets for businesses in general The high level of crime in society will be a threat to the business.
Generally crime levels remain high in South Africa and as a result, the entity will have to invest in additional security measures such as the installation of an electric fence or the hiring of a security guard. Notable opportunities are as discussed below: The possibility to benefit from automated front office and back office support technologies.
This essentially allows the firm to not only have a local presence in its lphysical ocation but also South Africa and the rest of the globe.Protect your PC from virus, spam, spyware, and malware.
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