Friday, September 20, 2019
Solving the Problem
The opportunity that I previously discussed was the fact that farmers in the United States who grow genetically modified crops are losing business due to negative advertising and a shift in consumer preference. Many people believe that GMO crops are bad for their health. This leaves farmers with a few solutions to this problem. One solution would be switching over some of their production to non-genetically modified crops in order to target those consumers in the market, but as I discussed in the last post, this may be difficult because even if there is a crop (lets say oranges, for example) that is not genetically modified at all in the United States, but manufacturers can still label this product in the store as non-GMO, giving consumers the impression that any oranges not labeled non-GMO have been genetically modified. Another solution to this for farmers would be to invest in positive marketing for GMO crops. These crops actually have a number of benefits to them, including increased yield, minimal environmental impact (even though many believe that they are bad for the environment), decreased costs, and other things. They could host farm tours where people could come out and learn the whole process of growing those crops and what goes in to genetically modifying a crop. I have seen this process of outreach to the public and it has worked rather well. I believe that if consumers were to actually see how the whole process of growing a crop works, they would be more willing to buy these products.
Thursday, September 19, 2019
Testing the Hypothesis, Part 1
The opportunity: Farmers in the United States who grow genetically modified crops are losing business due to the recent consumer preference of non-GMO products and news articles all over the internet claiming that GMO crops are harmful to humans and the environment.
- The who: Farmers in the United States who grow genetically modified crops
- The what: are losing business
- The why: recent consumer preference of non-GMO products and news articles all over the internet claiming that GMO crops are harmful to humans and the environment.
Forming the hypothesis:
- The who: With this opportunity, more farmers are affected by this than just those who grow GMO crops because of misleading labels that say "non-GMO" even if there are not GMO options for that product. (i.e. if a company labels oranges non-GMO, they may get more people to buy that product vs. a company that doesn't label their oranges non-GMO when in reality, there are no oranges in the United States that are genetically modified, so this can affect other farmers as well)
- The what: Farmers are losing business from this shift in consumer preference and negative advertising of GMO crops, but it is not significant yet. Many customers in the grocery store do not have a preference, but those who do are growing.
- The why: The why's differ for those who are in the why for this opportunity. For some, they do not buy GMO products because they disagree with genetic modification. For others, it may be because they believe these products are harmful for humans, or harmful for the environment.
Based on the five people that I interviewed, I gained mostly the thoughts on one side of the issue, which would be anti-GMO. Many of the people believed that because these products are being genetically modified, it can have adverse effects on humans. These effects, though, would not be seen immediately, but develop over time as more products are being consumed. Some believed that this process involves chemical injection, some believed that it was simple changes in genetic coding of the crop. Some of those that I interviewed also discussed how these products can be bad for the environment because they produce bigger crops, and bigger crops equals more nutrient uptake from the ground, more need for irrigation and other things. On the other side, one of the people that I interviewed had positive things to say about genetic modification, stating that this process is needed because this technology allows farmers to gain a bigger yield, which is crucial in order to feed such a large population. He also said that they can be better for the environment because some modifications can make a crop drought tolerant, which allows the farmer to water less, ultimately saving this usage.
Through these interviews, I learned that many people did not agree with this technology, but I also learned that this could be good for consumers due to high demand. This encouraged me to research the topic more to really get a good perspective on the issue.
- The who: Farmers in the United States who grow genetically modified crops
- The what: are losing business
- The why: recent consumer preference of non-GMO products and news articles all over the internet claiming that GMO crops are harmful to humans and the environment.
Forming the hypothesis:
- The who: With this opportunity, more farmers are affected by this than just those who grow GMO crops because of misleading labels that say "non-GMO" even if there are not GMO options for that product. (i.e. if a company labels oranges non-GMO, they may get more people to buy that product vs. a company that doesn't label their oranges non-GMO when in reality, there are no oranges in the United States that are genetically modified, so this can affect other farmers as well)
- The what: Farmers are losing business from this shift in consumer preference and negative advertising of GMO crops, but it is not significant yet. Many customers in the grocery store do not have a preference, but those who do are growing.
- The why: The why's differ for those who are in the why for this opportunity. For some, they do not buy GMO products because they disagree with genetic modification. For others, it may be because they believe these products are harmful for humans, or harmful for the environment.
Based on the five people that I interviewed, I gained mostly the thoughts on one side of the issue, which would be anti-GMO. Many of the people believed that because these products are being genetically modified, it can have adverse effects on humans. These effects, though, would not be seen immediately, but develop over time as more products are being consumed. Some believed that this process involves chemical injection, some believed that it was simple changes in genetic coding of the crop. Some of those that I interviewed also discussed how these products can be bad for the environment because they produce bigger crops, and bigger crops equals more nutrient uptake from the ground, more need for irrigation and other things. On the other side, one of the people that I interviewed had positive things to say about genetic modification, stating that this process is needed because this technology allows farmers to gain a bigger yield, which is crucial in order to feed such a large population. He also said that they can be better for the environment because some modifications can make a crop drought tolerant, which allows the farmer to water less, ultimately saving this usage.
Through these interviews, I learned that many people did not agree with this technology, but I also learned that this could be good for consumers due to high demand. This encouraged me to research the topic more to really get a good perspective on the issue.
Identifying Opportunities in Economic and Regulatory Trends
Opportunity 1: Sweet corn farmers in the United States are seeing success in recent years after the price per bushel of corn has risen over the last two years.
- I found this opportunity through research on the internet. This was found on the Farm Policy News website where it discusses recent changes of pricing and other things in the agricultural industry. Seeing the increasing price of sweet corn over the last few years led me to believe that this opportunity to possibly grow more and focus on sweet corn over other commodities existed. The prototypical customer in this situation would be grocery shoppers, restaurants, and others. This opportunity, however, can be difficult to exploit for multiple reasons. One reason being that agriculture is a risky business and if you play all of your cards in sweet corn and something happens (natural disaster, sharp drop in prices) then you will end up losing a lot of money. Also, if too many farmers end up growing sweet corn, this can drive prices down. I saw this opportunity because I have worked in the agricultural industry and when a commodity has price increases, this can help get a farmer back on his feet and make his farm profitable.
Opportunity 2: China has elected not to tack on additional tariffs on U.S. soybeans in order to ease trade tensions between the two countries.
- This opportunity has been a topic of discussion in some of my classes at UF. This news leads me to believe an opportunity exists because when a country, like China, decides to implement tariffs on a U.S. good, this hurts the grower of that commodity. This decision allows U.S. soybean producers to export more while not being punished as much for their production. The customer of this product would be China, who is taking in these soybeans from U.S. producers on the world market. This opportunity is difficult to exploit, this trade war has been going on the last few years and China could very likely implement tariffs at any given moment. I saw this as an opportunity because the more I have heard about it in class, the more I have been able to understand the situation and see the opportunities presented for U.S. soybean farmers.
Opportunity 3: The government's recent regulations on e-cigarettes has banned all flavored e-cigarettes.
- I found this opportunity through the internet and from hearing about it around campus. I was led to believe this was an opportunity because it causes e-cigarette companies to have to make a decision about their flavored products and what they can do in order to increase their profits while some of their products can no longer be sold. The customer in this situation would be consumers of flavored e-cigarette products (mostly the younger generation). This opportunity is relatively difficult to exploit because these products have became so popular and people have started to become addicted that it creates a black market for these products. I saw this as an opportunity because I have so many friends that use these products so I was able to get a more in depth perception of these regulations.
Opportunity 4: California's equal pay act has been proposed to start allowing athletes to be compensate for their likeness.
- I found this opportunity through internet research and because I am a fan of college sports. I was led to believe this was an opportunity because it allows businesses to now use the names of famous college athletes to make money as well as the athlete. The customer in this situation would be fans of collegiate sports. This opportunity would be easier to exploit because it would bring in more revenue for business who use the names of athletes on products, and this would be an easy thing to sell, especially if the athlete is very famous (i.e. Tim Tebow who had the highest collegiate jersey sales when he was in college). I saw this as an opportunity because I pay close attention to college football and this has been an ongoing discussion for years now so I have heard many different perspectives on the issue.
- I found this opportunity through research on the internet. This was found on the Farm Policy News website where it discusses recent changes of pricing and other things in the agricultural industry. Seeing the increasing price of sweet corn over the last few years led me to believe that this opportunity to possibly grow more and focus on sweet corn over other commodities existed. The prototypical customer in this situation would be grocery shoppers, restaurants, and others. This opportunity, however, can be difficult to exploit for multiple reasons. One reason being that agriculture is a risky business and if you play all of your cards in sweet corn and something happens (natural disaster, sharp drop in prices) then you will end up losing a lot of money. Also, if too many farmers end up growing sweet corn, this can drive prices down. I saw this opportunity because I have worked in the agricultural industry and when a commodity has price increases, this can help get a farmer back on his feet and make his farm profitable.
Opportunity 2: China has elected not to tack on additional tariffs on U.S. soybeans in order to ease trade tensions between the two countries.
- This opportunity has been a topic of discussion in some of my classes at UF. This news leads me to believe an opportunity exists because when a country, like China, decides to implement tariffs on a U.S. good, this hurts the grower of that commodity. This decision allows U.S. soybean producers to export more while not being punished as much for their production. The customer of this product would be China, who is taking in these soybeans from U.S. producers on the world market. This opportunity is difficult to exploit, this trade war has been going on the last few years and China could very likely implement tariffs at any given moment. I saw this as an opportunity because the more I have heard about it in class, the more I have been able to understand the situation and see the opportunities presented for U.S. soybean farmers.
Opportunity 3: The government's recent regulations on e-cigarettes has banned all flavored e-cigarettes.
- I found this opportunity through the internet and from hearing about it around campus. I was led to believe this was an opportunity because it causes e-cigarette companies to have to make a decision about their flavored products and what they can do in order to increase their profits while some of their products can no longer be sold. The customer in this situation would be consumers of flavored e-cigarette products (mostly the younger generation). This opportunity is relatively difficult to exploit because these products have became so popular and people have started to become addicted that it creates a black market for these products. I saw this as an opportunity because I have so many friends that use these products so I was able to get a more in depth perception of these regulations.
Opportunity 4: California's equal pay act has been proposed to start allowing athletes to be compensate for their likeness.
- I found this opportunity through internet research and because I am a fan of college sports. I was led to believe this was an opportunity because it allows businesses to now use the names of famous college athletes to make money as well as the athlete. The customer in this situation would be fans of collegiate sports. This opportunity would be easier to exploit because it would bring in more revenue for business who use the names of athletes on products, and this would be an easy thing to sell, especially if the athlete is very famous (i.e. Tim Tebow who had the highest collegiate jersey sales when he was in college). I saw this as an opportunity because I pay close attention to college football and this has been an ongoing discussion for years now so I have heard many different perspectives on the issue.
Friday, September 13, 2019
Identifying Local Opportunities
1. "City Commission repeals plastic ban, raises GRU rates"
https://www.alligator.org/news/city-commission-repeals-plastic-ban-raises-gru-rates/article_cbb76770-d5e3-11e9-9a5e-2fe54a48b3cd.html
- This article talks about how the city of Gainesville has thought about repealing their ban on single-use plastic, like grocery store plastic bags, and how the commission voted to raise Gainesville Regional Utility rates by 2.3%. This has caused some uproar by the community due to high utility rates.
- The problem in this story that I am using is the repeal on the ban of single-use plastics. This presents an opportunity to stores like Publix, who has had some criticism recently due to their stance on the issue, which is to keep single-use plastics. This can cause customers to not want to shop their and take their business elsewhere, maybe to a local market that practices environmental sustainability.
- Grocery stores in the area, particularly Publix due to their stance on the issue, are presented this problem. In a city like Gainesville where the majority tends to promote environmentally safe practices, this can cause people to boycott Publix and they would lose business, giving Publix the opportunity to do something, such as use more canvas grocery bags, to promote better practices.
2. "A tasty warmup at Gainesville's new Cheesecake Factory"
https://www.gainesville.com/news/20190912/tasty-warmup-at-gainesvilles-new-cheesecake-factory
- This article discusses the opening of the new Cheesecake Factory here in Gainesville and highlights the extraordinary menu offered by the restaurant. The menu includes over 250 options, which is a lot for employees to remember, but the city is excited for the opening and believe it will be one of the best restaurant experiences in Gainesville.
- The problem I found in this story is all of the options in the menu, which can present the problem of employees not remembering stuff on the menu, whether it be waiters/waitresses or cooks, which can effect the quality of service.
- Both the restaurant and the customers have the problem in this case. With over 250 options, customers can take too much time and effect the restaurants business while the employees may not be able to figure out the whole menu which effects their quality of service. This presents the opportunity for the restaurant to train employees at a high level in order to run the business smoothly.
3. "Contributions pour in for assault weapons ban"
https://www.gainesville.com/news/20190913/contributions-pour-in-for-assault-weapons-ban
- This article discusses the ongoing support from the people of Florida for a ban on assault weapons in the state. A Florida political committee raised nearly $600,000 in the month of August, making the total amount of contributions over $1.67 million. Their goal is to get this legislation on the November 2020 ballot. Donations came from all kinds of people throughout the state in response to the Texas and Ohio mass shootings.
- The problem presented in this story is the ban on assault weapons, which, in a state like Florida where views are very divided, can cause an uproar by those on the opposition.
- Those affected by this would be businesses like Bass Pro Shops who sell guns on a day-to-day basis. These tragedies severely effect their business, which presents them the opportunity to either stop selling these weapons and adapt to those wanting change, or do something like promote gun safety and offer gun safety classes, or have more detailed background checks.
4. "Florida seniors leading the state in medical marijuana use"
https://www.gainesville.com/news/20190913/florida-seniors-leading-state-in-medical-marijuana-use
- This article discusses the recent passing of legislation that made medical marijuana use legal in Florida and how most of those who are taking advantage of this are seniors. This medical use provides health benefits and senior communities are having people come speak about the benefits of medical marijuana use.
- The problem presented in this story is the passing of this legislation due to it being a heated political topic in the state. While there are great benefits to medical marijuana, many people still do not think that it should be legal.
- The people affected by this problem would be cannabis dispensaries and surrounding businesses. As for cannabis dispensaries, it may take a while for business to really get going once people start to get their medical cards (or when it finally becomes legal recreationally). For surrounding businesses, it is not so much of a problem here in Gainesville because most support it, but if there is a dispensary in a place that the majority does not agree with, surrounding business may be affected due to things like protests.
5. "Vaping-linked lung problems surface in Florida"
https://www.gainesville.com/news/20190910/vaping-linked-lung-problems-surface-in-florida
- This article discusses the ongoing problem of vaping, mostly by youth, and the health problems that it is causing. More than 400 people have been hospitalized and five have died due to health reasons caused from vaping. While e-cigarette companies claim to aim their products at adults, it is mostly youth who are giving these companies most of their business. These products contain nicotine and a number of other chemicals. Doctors have said that this is a new epidemic, not something that they have seen in the past.
- The problem presented in this story is the adverse health effects that are caused from vaping. Many of those who use these products are part of the younger generation and their bodies can be effected at an earlier stage.
- Those affected by this problem are those who vape and e-cigarette companies. These companies are now under fire and losing a lot of business after these recent cases have surfaced. As more and more people are being hospitalized, these companies will most likely see the ban of these products.
https://www.alligator.org/news/city-commission-repeals-plastic-ban-raises-gru-rates/article_cbb76770-d5e3-11e9-9a5e-2fe54a48b3cd.html
- This article talks about how the city of Gainesville has thought about repealing their ban on single-use plastic, like grocery store plastic bags, and how the commission voted to raise Gainesville Regional Utility rates by 2.3%. This has caused some uproar by the community due to high utility rates.
- The problem in this story that I am using is the repeal on the ban of single-use plastics. This presents an opportunity to stores like Publix, who has had some criticism recently due to their stance on the issue, which is to keep single-use plastics. This can cause customers to not want to shop their and take their business elsewhere, maybe to a local market that practices environmental sustainability.
- Grocery stores in the area, particularly Publix due to their stance on the issue, are presented this problem. In a city like Gainesville where the majority tends to promote environmentally safe practices, this can cause people to boycott Publix and they would lose business, giving Publix the opportunity to do something, such as use more canvas grocery bags, to promote better practices.
2. "A tasty warmup at Gainesville's new Cheesecake Factory"
https://www.gainesville.com/news/20190912/tasty-warmup-at-gainesvilles-new-cheesecake-factory
- This article discusses the opening of the new Cheesecake Factory here in Gainesville and highlights the extraordinary menu offered by the restaurant. The menu includes over 250 options, which is a lot for employees to remember, but the city is excited for the opening and believe it will be one of the best restaurant experiences in Gainesville.
- The problem I found in this story is all of the options in the menu, which can present the problem of employees not remembering stuff on the menu, whether it be waiters/waitresses or cooks, which can effect the quality of service.
- Both the restaurant and the customers have the problem in this case. With over 250 options, customers can take too much time and effect the restaurants business while the employees may not be able to figure out the whole menu which effects their quality of service. This presents the opportunity for the restaurant to train employees at a high level in order to run the business smoothly.
3. "Contributions pour in for assault weapons ban"
https://www.gainesville.com/news/20190913/contributions-pour-in-for-assault-weapons-ban
- This article discusses the ongoing support from the people of Florida for a ban on assault weapons in the state. A Florida political committee raised nearly $600,000 in the month of August, making the total amount of contributions over $1.67 million. Their goal is to get this legislation on the November 2020 ballot. Donations came from all kinds of people throughout the state in response to the Texas and Ohio mass shootings.
- The problem presented in this story is the ban on assault weapons, which, in a state like Florida where views are very divided, can cause an uproar by those on the opposition.
- Those affected by this would be businesses like Bass Pro Shops who sell guns on a day-to-day basis. These tragedies severely effect their business, which presents them the opportunity to either stop selling these weapons and adapt to those wanting change, or do something like promote gun safety and offer gun safety classes, or have more detailed background checks.
4. "Florida seniors leading the state in medical marijuana use"
https://www.gainesville.com/news/20190913/florida-seniors-leading-state-in-medical-marijuana-use
- This article discusses the recent passing of legislation that made medical marijuana use legal in Florida and how most of those who are taking advantage of this are seniors. This medical use provides health benefits and senior communities are having people come speak about the benefits of medical marijuana use.
- The problem presented in this story is the passing of this legislation due to it being a heated political topic in the state. While there are great benefits to medical marijuana, many people still do not think that it should be legal.
- The people affected by this problem would be cannabis dispensaries and surrounding businesses. As for cannabis dispensaries, it may take a while for business to really get going once people start to get their medical cards (or when it finally becomes legal recreationally). For surrounding businesses, it is not so much of a problem here in Gainesville because most support it, but if there is a dispensary in a place that the majority does not agree with, surrounding business may be affected due to things like protests.
5. "Vaping-linked lung problems surface in Florida"
https://www.gainesville.com/news/20190910/vaping-linked-lung-problems-surface-in-florida
- This article discusses the ongoing problem of vaping, mostly by youth, and the health problems that it is causing. More than 400 people have been hospitalized and five have died due to health reasons caused from vaping. While e-cigarette companies claim to aim their products at adults, it is mostly youth who are giving these companies most of their business. These products contain nicotine and a number of other chemicals. Doctors have said that this is a new epidemic, not something that they have seen in the past.
- The problem presented in this story is the adverse health effects that are caused from vaping. Many of those who use these products are part of the younger generation and their bodies can be effected at an earlier stage.
- Those affected by this problem are those who vape and e-cigarette companies. These companies are now under fire and losing a lot of business after these recent cases have surfaced. As more and more people are being hospitalized, these companies will most likely see the ban of these products.
Forming an Opportunity Belief
As I sit and wonder about the significant amount of opportunity that is presented to farmers on a day-to-day basis, I can not help but to keep thinking of one opportunity that has been a large topic of discussion lately in the agricultural industry: the consumer demand shift towards organic farming that will require quite a few farmers to make this change on their own farms.
This consumer preference has really thrown a wrench in the agricultural industry in recent years as more and more people are not supporting conventional agricultural methods. Chemical use on crops has raised some red flags for consumers as the newer generations have started to take over the market, which the majority of these newer generations have this preference of organic crops. However, this has not been a problem that has only existed recently. Many have steered clear of conventional agriculture for years now, but have not made a huge impact on the market until recently because of multiple things like stories on the internet about the negative impacts of conventional farming and chemical use and advertising for the quality of organic crops. Because of this shift of demand, more and more farmers have started to switch over to this method of farming. The opportunity for farmers to switch over to organic agriculture, however, does not exist for everyone (at least for an immediate switch). This is because there are strict regulations to this type of farming which do not allow organic crops to be grown on the same ground that there has been chemical use until a certain time period, which makes it hard for a lot of farmers who need as much yield as possible in order to make a profit. This would require them to use new land or wait until this period is up to switch over into the organic market. I would say the opportunity presents itself to about less than half of farmers who use conventional methods.
To get more of an insight on this issue, I decided to interview three people who regularly grocery shop. The first person was a parent of a young child. They went into detail about the issue, stating that conventional agricultural methods were bad for the environment due to the overuse of chemicals on crops which can also be harmful to our bodies. This person in particular was not very aware of this need to switch to organic products until they realized that they were having a baby and wanted only the best for their kid. This is when they started to research on the internet and look into buying organic products and now they have started to only buy organic products and really pay attention to what they are putting in their bodies on a day-to-day basis. So far, this customer has been nothing but satisfied with the products that they are buying and said that their bodies have started to be more energized since they have switched.
The second person I interviewed, funny enough, actually turned out to be an agricultural chemical salesman in South Florida. He told me that although he is a chemical salesman and most people would think that he is just trying to sell as many chemicals as possible and not care about the environment, he thoroughly promotes the sustainable use of chemicals and supports the organic industry (to which he told me that organic farming still uses chemicals but only chemicals that are approved in order to label a product "organic"). It was not something that he thinks about 24/7 but tries to support both sections of the industry when grocery shopping. Being a chemical salesman, he became aware of the need when he started his job in the industry and it was a big adjustment for him when consumers really started to switch over. He stated that he is satisfied with the organic market and that it will most likely take over conventional methods in the future.
The third person I interviewed happened to be a huge supporter of organic methods. They were very passionate about the issue and went into detail that it was key that farmers started to switch over to organic methods. The environmental impact of conventional methods is almost becoming too much to solve and if we continue to not use sustainable practices, it will be very detrimental to our health, the environment, wildlife, and more. This is something that they wake up every day and do their best to only buy and support products that promote sustainability. They have been satisfied with their decision their whole life and will continue to promote these products and do their best to leave their mark and make a difference.
These interviews were very unique and educational. I learned that organic farming actually does use chemicals but only a select few that are approved for this method. This was very surprising to me because I have always thought that there was no chemical use at all. I also learned that more people support it than I thought and will continue to try and get others to switch over.
After these interviews, I believe that the opportunity for farmers to switch is still there. The only problem is, will they be able to handle profit loss now in order to make a profit in the future? Some small farms might not be able to, but larger corporations may be able to afford it, which may allow this opportunity to grow larger. I think that adaptation to the market is key. Without adapting to customer needs, you are losing business, but there is also a line to draw of how much adaptation is necessary. Will you be losing other customers to gain back those you adapted to? If so, it may be smarter to hold firm depending on how much you have lost.
This consumer preference has really thrown a wrench in the agricultural industry in recent years as more and more people are not supporting conventional agricultural methods. Chemical use on crops has raised some red flags for consumers as the newer generations have started to take over the market, which the majority of these newer generations have this preference of organic crops. However, this has not been a problem that has only existed recently. Many have steered clear of conventional agriculture for years now, but have not made a huge impact on the market until recently because of multiple things like stories on the internet about the negative impacts of conventional farming and chemical use and advertising for the quality of organic crops. Because of this shift of demand, more and more farmers have started to switch over to this method of farming. The opportunity for farmers to switch over to organic agriculture, however, does not exist for everyone (at least for an immediate switch). This is because there are strict regulations to this type of farming which do not allow organic crops to be grown on the same ground that there has been chemical use until a certain time period, which makes it hard for a lot of farmers who need as much yield as possible in order to make a profit. This would require them to use new land or wait until this period is up to switch over into the organic market. I would say the opportunity presents itself to about less than half of farmers who use conventional methods.
To get more of an insight on this issue, I decided to interview three people who regularly grocery shop. The first person was a parent of a young child. They went into detail about the issue, stating that conventional agricultural methods were bad for the environment due to the overuse of chemicals on crops which can also be harmful to our bodies. This person in particular was not very aware of this need to switch to organic products until they realized that they were having a baby and wanted only the best for their kid. This is when they started to research on the internet and look into buying organic products and now they have started to only buy organic products and really pay attention to what they are putting in their bodies on a day-to-day basis. So far, this customer has been nothing but satisfied with the products that they are buying and said that their bodies have started to be more energized since they have switched.
The second person I interviewed, funny enough, actually turned out to be an agricultural chemical salesman in South Florida. He told me that although he is a chemical salesman and most people would think that he is just trying to sell as many chemicals as possible and not care about the environment, he thoroughly promotes the sustainable use of chemicals and supports the organic industry (to which he told me that organic farming still uses chemicals but only chemicals that are approved in order to label a product "organic"). It was not something that he thinks about 24/7 but tries to support both sections of the industry when grocery shopping. Being a chemical salesman, he became aware of the need when he started his job in the industry and it was a big adjustment for him when consumers really started to switch over. He stated that he is satisfied with the organic market and that it will most likely take over conventional methods in the future.
The third person I interviewed happened to be a huge supporter of organic methods. They were very passionate about the issue and went into detail that it was key that farmers started to switch over to organic methods. The environmental impact of conventional methods is almost becoming too much to solve and if we continue to not use sustainable practices, it will be very detrimental to our health, the environment, wildlife, and more. This is something that they wake up every day and do their best to only buy and support products that promote sustainability. They have been satisfied with their decision their whole life and will continue to promote these products and do their best to leave their mark and make a difference.
These interviews were very unique and educational. I learned that organic farming actually does use chemicals but only a select few that are approved for this method. This was very surprising to me because I have always thought that there was no chemical use at all. I also learned that more people support it than I thought and will continue to try and get others to switch over.
After these interviews, I believe that the opportunity for farmers to switch is still there. The only problem is, will they be able to handle profit loss now in order to make a profit in the future? Some small farms might not be able to, but larger corporations may be able to afford it, which may allow this opportunity to grow larger. I think that adaptation to the market is key. Without adapting to customer needs, you are losing business, but there is also a line to draw of how much adaptation is necessary. Will you be losing other customers to gain back those you adapted to? If so, it may be smarter to hold firm depending on how much you have lost.
My Entrepreneurship Story
For my entrepreneurship story I would like to talk about my time working at R.C. Hatton farms in Clewiston, Florida. I spent some time with the owner, Roger Hatton, and got some knowledge about what he did to start his company and why it is so successful today. He told me that the hardest part about a company that you started on your own is not the initial start up but keeping it successful in the future. In order to be successful, you have to sustain a good relationship with employees, customers, and everyone involved in the process of farming. He is also one of the of the most humble people I have met, so naturally he didn't want to talk about himself much but I could tell that this quality and his character were another thing that made him so successful. He was very passionate about agriculture and loved every aspect of it, from the production side, to manufacturing, to retail. Roger always said that when you are that passionate about something it is only right to show it through your individual work and you will have no problem staying successful in the industry if you keep that same passion throughout your life. This has inspired me to possibly try and start my own agribusiness one day and I will always keep in mind the things that I learned from him.
The reason that I enrolled in ENT 3003 was initially because it was an elective for my major, Food and Resource Economics, but as I started to think about it, I realized that this would be a great opportunity to learn quality skills about being an entrepreneur and keys to be successful in the future. This is what I anticipate to get out of this class this semester and hopefully gain some insight as to how to start a business and keep it successful. I look forward to the rest of the semester!
Below are some pictures of me during the summer that I worked at R.C. Hatton Farms with some of the sweet corn that they grow there.
The reason that I enrolled in ENT 3003 was initially because it was an elective for my major, Food and Resource Economics, but as I started to think about it, I realized that this would be a great opportunity to learn quality skills about being an entrepreneur and keys to be successful in the future. This is what I anticipate to get out of this class this semester and hopefully gain some insight as to how to start a business and keep it successful. I look forward to the rest of the semester!
Below are some pictures of me during the summer that I worked at R.C. Hatton Farms with some of the sweet corn that they grow there.
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