Business Management For The Equine Industry

by Eastwood, Sharon; Jensen, Anne-Lise Riis; Jordon, Anna

• ISBN13: 9781405126069
• ISBN10: 140512606X
• Edition: 1st
• Format: Paperback
• Copyright: 2005-12-23
• Publisher: Wiley-Blackwell

Summary

Written by a team of consultants who combine modern business knowledge with decades of direct experience of working in the equine industry, this book bridges the gap between modern business theory and equine business practice. After providing overviews of the equestrian industry and the livery sector as a detailed example, Part I (Assessing a Business) sets out how to access the business environment, externally, competitively and with regard to its internal resources.Part 2 (Management) goes on to deal with resource management and how to go about strategic planning and marketing, concluding with an overall Business Plan. Part 3 sets out a series of case histories to illustrate the principles as discussed in Part 1 and 2.No other book applies a truly modern business approach to equine enterprise.The AuthorsSharon Eastwood, Anne-Lise Riis Jensen and Anna Jordon work together at Dark Horse Consultancy, a team of equine business consultants offering a wide range of advice and services to the industry.Also available :Horse and Stable ManagementFourth EditionJeremy Houghton Brown, Sarah Pilliner and Zoe Davies1 4051 0007 9978 14051 0007 6Teaching JumpingJane Houghton Brown0 632 04127 7978 0632 04127 5Horse Nutrition and FeedingSecond EditionSarah Pilliner0 632 05016 0978 0632 05016 1Equine ScienceSecond EditionSarah Pilliner and Zoe Davies1 4051 1944 6978 14051 1944 3Introduction to Horse BiologyZoe Davies1 4051 2162 9978 14051 2162 0Horse Business ManagementThird EditionJeremy Houghton Brown0 632 05826 9978 0632 05826 6

Author Biography

Sharon Eastwood, Anne-Lise Riis Jensen and Anna Jordon are directors in Dark Horse Business Consultancy, providing complete equine business solutions . All have an MBA in equine business management (Royal Agricultural College) and all have been involved in equestrian activities and businesses for decades.

Table of Contents

Preface	p. vii
Acknowledgements	p. viii
Abbreviations	p. ix
Overview	p. 1
Assessing a Business
The British equine industry	p. 7
Manufacturing and breeding	p. 9
Owners and riders	p. 13
The service sector	p. 25
The livery industry	p. 27
Range of services available	p. 28
Variation of charges	p. 30
Facilities offered	p. 33
The external environment	p. 35
How do we get the information?	p. 36
Framework for the analysis	p. 37
Political factors	p. 39
Economic factors	p. 41
Social factors	p. 43
Technological factors	p. 45
Legal factors	p. 46
Environmental factors	p. 50
The competitive environment	p. 53
Framework for the analysis	p. 54
Rivalry from existing competitors	p. 55
Threat of new entrants	p. 56
Bargaining power of suppliers	p. 57
Bargaining power of customers	p. 57
Threat of substitute products	p. 58
The resource appraisal	p. 59
SWOT analysis	p. 60
Resource appraisal	p. 61
Managing a Business
Resource management	p. 75
Equine resources	p. 75
Physical resources	p. 76
Human resources	p. 78
Financial resources	p. 80
Risk assessment	p. 83
Strategic planning	p. 85
Assessing the situation	p. 86
Setting targets	p. 87
Devising the strategy	p. 89
Military theories	p. 90
Porter's generic strategies	p. 91
Assessing the options	p. 95
Implementation	p. 97
Marketing	p. 101
Market analysis	p. 102
Market research	p. 103
The marketing mix	p. 104
Marketing strategies	p. 107
The marketing plan	p. 110
The business plan	p. 113
Covering letter	p. 113
Title page	p. 114
Contents page	p. 114
Executive summary	p. 114
Current market situation	p. 114
Existing business	p. 115
Proposed development	p. 115
Project schedule	p. 115
Marketing plan	p. 116
Finance plan	p. 116
Critical risk assessment	p. 116
Sensitivity analysis	p. 116
Appendices	p. 117
Case Studies
The small DIY yard	p. 121
The small competition yard	p. 128
The commercial livery yard	p. 136
The equestrian centre	p. 144
References and further reading	p. 153
Index	p. 157
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