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plans + decisions

Managing Risk: A Conversation with Maple Farms

Maple Farms is a family partnership, with three generations of the family actively involved in the farm since 1975. Maple Farms primarily grows food-grade corn and seed soybeans.

Does Your Farm Need to Expand?

There are numerous motivations for farms to expand their businesses. Even in today’s environment of tight margins, many farms are exploring expansion options.

Evaluating Strategic Options

Sound strategic planning requires assessing strategic risk, which involves the sensitivity of a farm’s strategic direction, and the ultimate vulnerability and sustainability of the farm to uncertainties in the business climate.

Using Enterprise Budgets to Compute Crop Breakeven Prices

Enterprise budgets are often one of the building blocks to creating a whole-farm plan.

Assessing and Managing Strategic Risk

Managing both operational risk and strategic risk is important in today’s production agriculture environment.

Should Sweat Equity be Used to Compensate a Returning Family Member?

Sweat equity may arise when an on-farm heir is paid less than their true opportunity cost to work for the business and/or the business has grown substantially due to the abilities and efforts of the on-farm heir.

Family Business as a Competitive Advantage

Recorded January 31, 2017 | James Mintert, Maria Marshall and Renee Wiatt talk about the competitive advantage of the family business and introduce the Purdue Institute of Family Firms.

Putting a Value on Sweat Equity in the Farm Business

Recorded August 23, 2016 | Michael Langemeier and Purdue Extension’s Denise Schroeder discuss how to divide business income between generations on a family farm and provide a simplified approach to valuing “sweat equity” in the family farming business.

Strategy & Business Planning for the Progressive Farm Business

Recorded June 8, 2016 | A discussion on strategy and business planning details for your farm business.

Identification of Unique Resources

It is pertinent to discuss resource based theory of the firm. This theory can help explain why farms are different. In general, differences among farms are the result of differences in prices paid for inputs, the availability and ability to take advantage of niche markets, differential learning or organizational structures, or differential strengths and resource endowments.

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