Wednesday, June 26, 2019
    

Economic

Financial profitability is the primary purpose of all businesses and the lever by which the farm will be able to fulfill its roles and responsibilities as a responsible corporate citizen. Profitability may be achieved through sound financial planning, and a strong risk management strategy.

Financial profitability is the primary purpose of all businesses and the lever by which the farm will be able to fulfill its roles and responsibilities as a responsible corporate citizen. Profitability may be achieved through sound financial planning, and a strong risk management strategy.

Score Legend

The practice is adopted by more than 80% of producers
The practice is adopted by more than 80% of producers
The practice is adopted by between 50% and 79% of producers
The practice is adopted by between 50% and 79% of producers
The practice is adopted by less than 50% of producers
The practice is adopted by less than 50% of producers
The practice is to be tracked
The practice is to be tracked and reported on during the next reporting period

Dimension 2 | Economic Performance

OBJECTIVES
KEY PERFORMANCE INDICATORS
SCORE
COMMENTS
Sound financial planning
Number of pork producers who monitor their cost of production for crops or livestock.
The practice is adopted by less than 50% of producers
Maintaining sound financial planning and principles is a notable accomplishment, but ongoing diligence is key.
Strong risk management strategy
Number of pork producers who have a plan to manage risk on their operation.
The practice is adopted by between 50% and 79% of producers
Equipping producers with education and tools to manage risk is integral to the industry’s ongoing prosperity.