The resource base of an 'Economic Whole'Your second task when defining an economic whole is to describe the existing resource base. This page is working through that step for the economic whole called Greenslopes Pastoral Co.
Every economic whole has access to an existing ‘resource base’. Just like the decision-makers that were identified here, each economic whole has an existing resource base, but no two wholes enjoy precisely the same resource base. To make it easy to define the existing resource base you should break it into two parts: the people first, and then the physical resources.
Dealing first with the people, you'll notice in the example below that a good many people are shown by their name. I like to call them the ‘A’ team! Some others, perhaps because there are just so many of them, aren’t mentioned by name. However they are noted because their presence influences decisions, or because they are influenced by the decisions that decision-makers such as Garth, Shirley, Paul & Sally make.
In this example Garth’s parents Tom & Jean, have been included at the 'People' section of the resource base, rather than noted further up as 'Decision-makers'. This is because even though Tom & Jean own and receive lease payments for some of the land on which the business operates (the property Greenslopes itself), after implementing their well constructed succession plan, Tom & Jean no longer own equity in the operating company. They are not decision-makers! Neither is Shirley’s mum, Libby. Nor are Rick & Helen, who own the neighbouring property, The Springs, which Greenslopes Pastoral Co. Pty Limited also leases and operates.
The economic whole we are describing here is the operating company, Greenslopes Pastoral Co., which leases two properties, ‘Greenslopes’ and ‘The Springs’. There are a number of other physical resources and these have been generically identified as ‘plant and equipment’ and ‘our livestock’. NOTE: There is no need to get hung up on naming the machines by make, model or serial number—in the end they are just machines, just as cows and sheep are just cows and sheep.
OTHER INFORMATION: It is important to identify special things, like specific genetics. If you are a seed-stock producer, there are two important aspects that you might want to highlight: your genetics and your ‘brand’ or stud name. In particular, note also that the decision-makers in this example have identified their expertise in minimum till and no-kill cropping techniques. The point is: It never hurts to specifically identify your skills, and blowing your own trumpet between yourselves rarely does any harm.
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