Internal and External Environment of Botanical Bounty Farm

Internal and External Environment of Botanical Bounty Farm
Name:
Institution:
Date:
Internal and External Environment of Botanical Bounty Farm
History of Botanical Bounty Farm
Botanical Bounty is a 10-acre L.L.C. Farm located in Oregon State near the Willamette River Valley. The farm was originally started as a hobby by David and Susan Nealon. The company is an entrant enterprise that has existed in the market for the past four years being operated as a hobby rather than a profit making entity. The couples used their skills in plant biology and financial economics to effectively manage financial costs. The botanical idea as a hobby was initiated by the couple's lifestyle based on the windfall that David got in the stock exercise options. After two years in business, the family opted to covert the business into profit making entity irrespective of their income which they would otherwise live on for a long time. Therefore, the couple started growing perennials operating in both the 10-acre field and the green house, especially during the winter months. In most of the time, the Botanical Bounty farm uses drip irrigation for all the plants.
The aim of the farm was to shield the Nealon family from personal liability. However, the enterprise designed to become the leading supplier of the botanical perennials for the vitamins and the health industry. Also, the coupled were determined to ensure sustainable profits as well as making a good living amidst enjoyable work conditions. Achieving the objectives was to be a fulfillment of the couple's mission that was to become the leading producer of the botanical plants to the health and vitamin industry through provision of quality pants and their extracts at affordable prices while surpassing the expectations of the consumers.
Strengths and Weaknesses
Botanical Bounty produces healthy plants for their concentrates for medicinal purposes. Therefore, the enterprise produces Echinacea that boosts the immune system, Ginseng that provides energy, the St. John’s Wort that manages depression, Skullcap that treats inflammations and Ginger for smoothening stomach (Botanical Bounty, 2003). The plants and their extracts fetch profits due to their quality that attracts consumers mainly the processors who purchase and later sell the botanical concentrates as well as reprocess the products to develop new final products for other enterprises. The company also produces the extracts separately that it sells directly to consumers (Botanical Bounty, 2003).
Secondly, Botanical Bounty is rich in experienced staffs at any level. At the management position, the enterprise is headed by David and Sue Nealon who are highly skilled. David was the manager of Yahoo Company who excelled in the market launch and capture of the Yahoo enterprise. Furthermore, he was able to the chief organizer of all the marketing activities of the company (Muratha, 2016). On a separate note, Sue Nealon has skills in plant biology hence can interbreed the plants to give the highest concentrations and active ingredients besides her sales experience for the enterprise. Therefore, Sue is poised to enhance the success of Botanical Bounty initiative. Also, both the managers have experience in financial management hence they can transform the farm into a well-selling business that generates over $ 216,000 a year (Treviño, et al., 1999).
The expectancy theory by Victor Vroom in 1964 informs the project. The theory hypothesizes that people adjust their behaviors by the predetermined contentment of the goals. Initially, the enterprise was started as a hobby by experienced owners in plant biology and financial accounting. The owners were determined to be the leading producers of the plant extracts with health benefits. Therefore, the enterprise continues to achieve the mission besides ensuring improvement in profitability irrespective of the weaknesses it experiences.
Opportunities and Threats
Botanical Bounty has loyal customers. Th...