Case #1 (Continued):  Canadian Western Agribition - Beefing Up the Growth Strategy Continue the Case #1 discussion by preparing responses to the following questions: 1) What should be the goals of CWA

Canadian Western Agribition

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CAW Business

Canadian Western Agribition is a company which holds annual events which provides a forum to share ideas in the agriculture industry and conducting business. In the year 2013, it was seen that there was a high expectation of better international programs which improves western Canada's reputation, which is the leader in cattle production on the international stage. This program is designed to create a venue for sellers and buyers to do business. CWA can coordinate with genetic companies and Canadian breeders to support the international buyers during the travel and attendance at the show. The program thus offers support to specialized itineraries which include industry tour day.

The benefit of this program is that it brings people from all over the world and thus allows one to have more time creating connections with breeders from different countries. The Canadian Western Agribition also provides access to some of the best which the agriculture company offers in the country

These events have helped Western Canada to gain international recognition as an industry leader in agriculture. Having collaborated with the company, it has enabled the firm to build a large contingent on foreign buyers, which makes it more attractive for most exhibitors to attend business events.

SWOT ANALYSIS

This analysis is used to identify the strengths, weakness, opportunities, and threats of a business. Agribition event internal factors affect the strengths and weakness of a company; opportunities and threats are affected by the development of agribition external factors. SWOT analysis thus helps in getting a better insight into Agribition present competitive advantage and also helps in the evolving of things to maintain and consolidate the competitive advantage.

The strength of the company includes higher customer loyalty and the repeat of purchase among the existing customers. Its old customers are still loyal to the firm even though it has limited success with millennial. This event can make a transition by keeping people on board. There is also efficient operations and streamlined process in the management. Agribition event is active in its segment. The performance credit goes directly to successful execution and efficient operation management. (Homeyer, F,2012)

Weakness: Its competitor can easily replicate the event of the business. These thus reduce the competitive advantage in the market, thus making it weaker. According to the research by Michael Taylor, he explains how the players in the industry can easily replicate the Agribition Event. Canada western Agribiton has little experience in the international market even though it has experience in the local market. Having little experience in the global market, it makes it difficult to penetrate. The company thus needs international talents for it to penetrate the developing market.

Opportunities: Some of the prospects' that the company has includes an increase in consumer disposable income. To build a new business model, Agribition event should use increase disposable income where customers may start paying progressively using the products. According to the research by Tatiana Levit, the event should use this 0trend to expand in its adjacent area. Provision of Social media oriented and E-Commerce Models. The e-commerce model will help its event to tie up with the logistics provider and local suppliers in the international market. On the other hand, the use of social media will help the event to reduce the cost of entering a new market and even reaching to customers at a significantly lower marketing budget.

Threats. These are issues that affect internally or even externally it includes

• Home marketing: This technique may not work efficiently in new markets such as China and India, where scale is prized over profitability. This is because those areas are not used to home marketing techniques.
  

• The segmentation of Agribition Event also shows that the company is unable to penetrate the millennial market. (Hashimoto, A., & Telfer, D. J, 2006).

Once these factors are mentioned in the SWOT analysis, this will help in building a summary that reflects the real important factors rather than tabulating the mentioned factors.

PEST ANALYSIS

It involves analyzation of political, economic social and technological factors which affects the macro environment in which Agribition Events operates in In the previous case study, Michael Taylor was able to provide extensive information about PEST factors Canadian Western Agribition.

Political factors: Political consensus is among parties which regard the investment policies and taxation rates. In the past years, the country has continuously worked to lower the entry of barrier and also streamline the tax structure. It is thus seen that the political system is stable, and there is consistency in both foreign policies and economic policies.

Economic factors: Before entering a new market, the Agribition Event should consider the inflation rate. This is because most business is being affected by the fluctuation of prizes in the market. Agribition Event should also find the stability of the economy by analyzing foreign exchange movement. This involves analyzing the forex outflow and inflow. This is because most of the competitors in Agribition Event have lost money in countries such as Argentina and Brazil due to the volatile forex market.

Social factors: It includes the demographic shifts in the economy, which is used to predict the overall trend in the market and also demand Agribition vent product among its core customer segments. Social attitudes, power structures, and leisure activities in the society are needed to analyze the Agribition Event before launching any new products because they will affect the demand of the products in the market.

Technological factors: Here, the use of machine learning and Artificial intelligence will increase the importance of speed over planning. Agribition thus needs to build strategies to operate in such an environment. It also is seen that 5G can transform the business environment in terms of promotion and marketing for Agribition Event.

Sources of revenue

CAW is a small business company, every coin counts, and it is the responsibility of the leadership to be excellent in stewarding their taxes. The following are the sources of income in Canadian Western Agribition.

• Riding on Vendors: Vendors can increase the price or decrease quantity and see if one notices. If they notice that the company does not observe this thing, they will feel free to let the number to creep in their favor slowly. The company best way to keep its prices competitive is to do vendors view twice a year. This is through inviting other vendors to bid for the companies account that keeps the company leverage and keep its vendors honest. (Cole, J,2010).

• Conduct Inventory: The company has been able to do the inventory; this helps to keep the staffs honest, thus not allowing things to walk out the backdoor. This is because it gives the teams the perception not to waste the company's product that may be of more use. The company has also able to gain revenues from fans who tour the country to see one of the most high-energy rodeos in Canada. This is through the selling of tickets to this fan, thus bringing more revenue to the company.
  

References

Hashimoto, A., & Telfer, D. J. (2006). Selling Canadian culinary tourism: Branding the global and the local product. Tourism Geographies, 8(1), 31-55.

Cole, J. (2010). The producer stated a preference for hypothetical new winter wheat varieties on the Canadian prairies.

Homeyer, F. (2012). Boer Goats and Western Canada'Agribition'. Ranch and Rural Living, 93(5), 21.