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Meakin Enterprises Case Study
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This case study focuses on the key challenges facing Meakin Industrial, for example, financial constraints, inaccessibility to skilled work teams and ineffective time management practices. It is essential since using both internal and external analysis will identify and recommend the most feasible alternative solutions that will ensure the company improves its productivity levels. The case study focuses on the following key issues; (a) The corporation faces time management limitations that forces its top executive to deal with too many responsibilities; (b) The firm posted poor financial results due to hail damage, making it lack the capacity to increase its land base, grow farming operations and acquire more equipment; and, (c) The company faces significant challenges in accessing a sustainable workforce to manage the increase in activities. The case study fulfills its objective through the application of various assessment tools, notably PESTEL, VRIO model, financial ratios analysis and SWOT analysis to determine the effects of both external and internal macro-economic elements on company operations. In fulfilling its objectives, the case study identified the following possible recommendation for Meakin Farms; (a) identify financial priorities; (b) partner with other industrial players, and (c) augment time management practices.
1.1 Key Issues to be Addressed by Meakin
2.0 External Analysis - PESTEL Analysis
7.0 Decision Criteria for Meakin Farms
Meakin Enterprises Case Study
Daved Meakin often visited his grandparent's farm in Langham, Saskatchewan, who advised him to pursue a career away from agricultural practices. Following this encouragement, Meakin graduated as an engineer in 1998 and got employed in Regina, Saskatchewan in farm implement manufacturing company. Despite being successful at his workplace, farming remained his desire, leading to his resignation in 2001. After moving back to Langham he began farming operations from scratch, considering the grandparents had already sold the family land. In 2005, Meakin purchased 160 acres from his grandmother and supplemented it with leased property. By 2015 he had increased his land base through buying and renting to a total acreage of...
