Greed Field Ventures Limited Case Study Example | Topics and Well Written Essays - 1500 words

Greed Field Ventures Limited - Case Study Example This study declares that the accumulated profit of the company grew from $35,070.00 in 2001 to $1,000,078.00 in 2009 representing 2,851% increase. Likewise shareholders interest grew from $142,570.00 in 2001 to $2,876,628.00 in 2009 representing 2017% increase. As a result of this growth the ownership structure, management structure and business strategy have been transformed. Two key partners invested in the expansion process. The management team is gradually developing a corporate identity and governance strategies. The work force has increased in quality and quantity to meet the human resource needs of the new GFVL. From on-the-farm and warehouse sales the company has developed a modern marketing strategy involving advertisement, promotions and direct supplies. Allison Madison has been in agricultural production since 1980s. He inherited a vast land at different locations. All together he inherited about 1150 acres. Only about half of the total farm land was cultivated at the init ial stage. Farming was highly seasonal. Hence there the capital base was small. The turnover was about $89,500.00. Only the farm lands close to villages were cultivated. Labour was provided by villagers and seasonal migrants. There were no built structures except small round-shaped mud warehouses scattered in the village settlements. The crops produced were crops produced in the neighbouring village settlements. They were all cereals: maize, millet and guinea corn. Although production was above subsistence level, farm produce were largely sold in the village market. Thus prices were highly variable and unpredictable. There was no proper record of the inputs and outputs in the production process. Except for the processing of maize stalks into fence, there was no value added to the production process. By late 1990s Allison has settled down. The acreage inherited was fully utilized. The types of crops produced have increased. From this paper it is clear that ground nuts, soya beans and rice were produced. Manual labour was complimented by tractors. Two tractors were hired. The size and type of crops produced were not for village market. Two warehouses were consequently built, where farm produce were stored and sold when prices are favourable. A truck with capacity of conveying 3 tonnes was bought purposely for transporting produce to distant markets and buyers. Allison was assisted in the management of the farms by his son, with a degree in business administration, and his nephew with a diploma in agricultural economics. These two young men began to transformation of Allison's business. They were initially not salaried and had no offices. They relied on informal commissions and returns from their small farms. The Launch In 2000, new windows of opportunities were opened as a result of new agricultural policies implemented by the government. The Cassava Enterprise Development Programme was more promising. To benefit from the loans, technical assistance and other in centives under this programme, Allison had to formalize his farm holdings. His son and nephew handled this task and Madison & Sons was born. A bank account was opened in the new to access the loan. Also, an office with at least a farm manager, accountant and clerical staff was needed to benefit from capacity building on farm management.