Introduction to Risk Management for Floriculture PRESENTED BY : SUPRIYA PURABI HIMANSHU VISHAL
RiskManagement is the identification, assessment and prioritization of risks followed by coordinated and economic application of resources to minimize , monitor , and control the probability of unfortunate events. Riskscan come from uncertainty in financial markets , project failures , legal liabilities , credit risk , accidents etc.
Risk management should be :o An integral part of organizational process.o A part of decision making.o Transparent and responsive to change.o Continually or periodically re-assessed.
Horticulture is the branch of agriculture, which deals with the fruits, flowers , and vegetables. Mainly there are 3 branches of horticulture: POMOLOGY : study of fruits OLERI CULTURE : study of vegetables FLORICULTURE : study of flowers
The word FLORI MEANS FLOWER CULTURE MEANS CULTIVATION or in other words we can define floriculture as“ CULTIVATION OF FLOWER AND ORNAMENTAL PLANTS IS KNOWN AS FLORICULTURE.”FLORICULTURE is a segment of horticulture concerned with commercial production, marketing and retail sale of cut flowers and potted plants, as well as home gardening and flower arrangement.
PRIMARY DATA SECONDARY DATA DATA THAT HAVE BEEN DATA OBSERVED OR ALREADY COLLECTED ANDCOLLECTED DIRECTLY FROM READILY AVAILABLE FROM FIRST – HAND EXPERIENCE. OTHER SOURCES.
Ranjeetav mohanty , an Entrepreneur in floriculture belongs to Cuttack. Heis from non-agricultural background and he is from commerce background and had done his PG degree from Bhubaneswar . Hestarted his business by taking a loan from bank of Rs 30,000.
EMPLOYEES : 300 TURNOVER : RS. 2 CRORE P.A HE HAS DONE HIS WORK IN CROWN MAY FAIR SWOSTI PLAZA BARABARTI STADIUM
STRENGTHS : Floriculture needs small land to cultivate flowers. Flowers can be grown throughout the year.WEAKNESS : Lack of technical labour .OPPORTUNITIES : Continuous increase in demand for flowers .THREATS : Climatic factors : such as floods , droughts etc . Insects and disease
FINANCIAL RISK : The risk that a company will not have adequate cash to meet financial obligations. INSTITUTIONAL RISK : There are two types of institutional risk - bank and owner’s firm. CLIMATE RISK : flood , drought disturbs the growth of the plant and flower.
PERSONAL RISK : surrounding people disturbs the farm by plugging the flowers. PEST RISK TRANSPORTATION RISK MARKET RISK
CROP INSURANCE : crop insurance is a form of insurance which is designed to protect farmers from climatic and environmental factors such as drought, floods etc. INSECT MANAGEMENT WEED MANAGEMENT WATER MANAGEMENT FOR IRRIGATION AND DRAINAGE KNOWLEDGE OF WEATHER FORECASTING KNOWLEDGE OF MARKET
• Adequate separation distances be maintained between floriculture and waterways to minimize the risk of degradation of water quality.• Recognize the Increasing Management and Technology Complexity.• Identify the Key Risks.• Estimate Costs of Risk Responses: Time and Monetary.• Seek Assistance & Take Charge.