Further information on the book

CONTENTS

ECONOMICS AND MILKING: The basics

• Decision-making tools
• From production factors to profit
• The art of decision-making
• Strategic, tactical and operational
• The management cycle
• The management cycle: strategic
• The management cycle: tactical
• The management cycle: operational

SECTION ONE: What do I get from my financial statements?

• The financial statements
• The income and expense statement
• Return over feed cost and gross margin
• What do balance sheets tell you?
• Managing balance sheet ratios
• Core numbers in financial statements

SECTION TWO: What can I do and what do I want?

• Strength and weakness analysis
• The economic foundation: production factors
• The lower limit - critical break-even price (CBP)
• Business phases
• Life phases
• Personality typing: who am I?
• Effectively dealing with your personal characteristics
• Local area analysis
• Canvas

SECTION THREE: How do you make strategic choices?

• Strategic management
• Achievable and affordable
• Dreaming - THINKING - daring - doing
• Business plan contents
• CBP and MBP determine the limits
• Calculating CBP, MBP and buffer
• Critical points and pitfalls in investment
• Financial reserve and production level
• Example: a new barn

SECTION FOUR: What is tactical management?

• Plan, plan and plan again!
• Example: feeding plan
• Cash flow planning and financial buffer management
• Cash flow projection
• Structure for tactical management
• Thresholds for tactical management

SECTION FIVE: Operational management - daily tasks

• A high return over feed gives a high annual income
• High feed efficiency
• Plenty of forage per hectare
• Good feed and good feeding
• Minimize storage losses, heating and moulds
• Getting cows in calf quickly
• Healthy cows

SECTION SIX: Assurance of profit

• Risk
• Risk and risk management
• Milk quota versus no milk quota
• Growing without land - is it possible?
• Sidelines

APPENDIX: Peterson's Equations

INDEX

GLOSSARY

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