Assignment Task: Please take a look at the video link above and then pursue the narrative below:-
YouTube Video: Agriculture Is Big Business In Jamaica - Part 1 | Beyond the Crisis - #11 | CVMTV
The interview with Varrun Baker, CEO of Farm Credibly, provides insights about some of the challenges that Jamaican farmers face in mobilizing and exploiting opportunities in the agriculture sector in a developing economy.
You are the owner of farming business in Jamaica and can attest to everything that Mr. Baker alluded to in his interview. Moreover, running a business has become even more challenging with the advent of Covid-19 and the global turmoil being experienced today across sectors.
Nevertheless, operations must continue. However, your investments are at stake and you must act now. You must respond to an ever-changing business environment, a world that is being overtaken by technological advancement more rapidly than before, the nuances fueled by cultural dynamism, lack resources experienced by developing countries, the general economic conditions, and political interferences.
Your reality is, that your farming company has seen nothing but reductions in every aspect of the business within the last 18 months. However, you are determined to keep the business afloat, and to become a force to reckon with during this time and after the passing of Covid-19.
Questions:
Q1. Use any analysis tool you may deem effective to do an internal analysis of the firm/company, including but not limited to a SWOT analysis, a Value Chain Analysis.
Q2. Evaluate the strategic choices for the business