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Strategic Report

In: Business and Management

Submitted By hiransajith
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Develop and Implement Strategic Plans

Hiran Fernando

Contents About Graincorp 4 Graincrop’s mission 4 Key objectives of Graincorp 4 Manage earnings through the cycle and pay consistent dividends 4 Improve shareholders returns 4 Growth as an international agriculture business 5 Key goals 5 Key Performance Indicators 5 How Graincorp monitor KPI’s 6 Industry environment 6 Competition 6 Bargaining power of customers 6 Bargaining power of suppliers 7 New entrants 7 Threats of substitution 7 Internal Environment 7 Strategic resources of Graincorp 7 Tangible resources 9 Physical resources 9 Financial resources 9 Human resources 9 SWOT analysis of Graincrop 10 Threats 10 Competition 10 Climate Change 10 Land Degradation 11 Opportunities 11 Cash Available 11 Global Demand for Agricultural Products 11 External Environment 12 Political Factors 12 Social/Cultural Factors 12 Technological factors 12 Economical factors 13 Indicators of the overall macroeconomic condition and economic functioning include Gross domestic product, unemployment rates, and price indices. 13 Bibliography 13

About Graincorp

Graincorp was formerly part of the New South Wales government’s Department of Agriculture. In 1916 Graincorp was established as a grain elevators board.
In the mid-1980’s grain elevator’s board had changed to a grain handing authority and when the passing of the NSW Grain Corporation Act, the company became the first Government organization named to be privatized in Australia .It had sales of $100million in 1992 and was named Graincorp. In 2009 after purchased of United Molt Holdings, Graincorp became known as Graincorp Malt.
Now Graincorp is an international company with 280 country elevators in Australia and they have a holding a capacity of 20 million tonnes. It is also operates seven export elevators and is serviced by 20 contracted trains.
Apart from the buying and selling of wheat, barley, canola and sorghum are one of the other major activities of Graincorp by serving local and international customers (our-history).
Graincorp’s mission

Increasing the value of international businesses by achieving all the grain buyer’s and grain grower’s (sellers) businesses. (strategy-and-vision)
Key objectives of Graincorp

Graincorp’s main strategy will be driven by following three corporate objectives.
Manage earnings through the cycle and pay consistent dividends
For the last financial year company directors have approved to pay total of 20 million dollars of fully franked final dividend and 39.7 million dollars of fully franked special dividend to the share holders. For the record date of 7th December 2011 the company paid final dividend of 15 cents plus special dividend of 20 cents per share on 21 of December 2011.

Improve shareholders returns
Since the last five years shareholder returns gradually increasing for the year of 2011 basic earnings for the share of 86 cents.

Growth as an international agriculture business
Graincorp is an international agriculture business since the purchase of United Malt Holdings in 2009 and then the European company of German Shillmalz in 2011.
The company trades grain internationally in its own rights, with business operation in Australia, Europe, United Kingdom and the America.

Key goals

* Maintains strong market presence - a leading grain supply chain service (storage and logistics) * Operate along the grain chain – be an “end to end” supplier grain chain(marketing) * Increase activity in grain processing - broader and competitive malt offering and opportunities in flour (Allied Mills) * Growth as an international business

Key Performance Indicators
Graincorp as a group, utilize key performance indicators to establish and monitor their progress towards achieving goals. Following typical key performance indicators assigned across the group to measure the performance against the achievements.
Table 1 (Annual Report 2011, 2011) Area of focus | Typical achievements required | FinancialSafetyCustomerPeople & OrganizationalCapabilityStrategic | * Achieve net profit after tax (“NPAT”) budget. * Completion of capital projects plan in accordance with budget * Improve All Injury Frequency Rate on previous year. * Targeted international sales of Australian wheat, while continuing a conservative approach to risk. * Increase market share for export, domestic and grower receivables. * Improve customer account management capability and delivered customer quality, with no significant losses. * Increased growth and performance in Ports and container growth. * Employee engagement result improved on previous results. * Enhance talent management and succession planning. * Improve competitive position. * Develop and begin execution of three year vision and strategy. * Strengthen international position and diversification. |

How Graincorp monitor KPI’s
All members of the executive team are assigning or write key performance indicators to assess performance each year.
The managing director and CEO review the performance of the executive team individually and collectively against their agreed KPI’s and values. Graincorp’s board and it’s committees also monitor them through regular reporting and face to face presentations.
Furthermore, the Human resources committee and board formally review the performance of the managing director and CEO each year against key performance indicators.
Industry environment
Most grains are accumulated and traded by competitive multinational grain companies who trade with each other domestic and overseas customers. Moreover, these multinational grain companies have established relationships with grain customers all around the world, and therefore have extensive global grain handling and trading capabilities. Graincorp have less market power of buying grain due to massive competition from well established multinational grain buyers and handlers such as Cargril, Viterra, Glencore and Toepfer. The grain market is now served by new multinational entrants such as Noble, Graviton and Willmar.
Bargaining power of customers
Customer’s power of the local and international grain industry is relatively strong due to competitive grain companies cooperate locally and internationally.
Graincorp has significant grain processing, marketing and handling plants in North America, Europe. Marketing offices in Singapore and Beijing, processing plants around the Australia. 50% of its total sales are made to customers outside of Australia. Graincorp’s local and international customer base subject same risks including credit and government legislative requirements of agreements.
Bargaining power of suppliers
Graincorp’s main suppliers are grain machinery suppliers and grain growers.
Graincorp trades wheat, barley, malt, canola and sorghum. The bargaining power of supplies can be influenced by local and international grain trading companies. Therefore, considering the leading position of Graincorp in negotiation grain prices from growers and suppliers. Also, engaging on signing grain contracts and agreements will reduce bargaining power of suppliers.
New entrants
There are several barriers to entry in the grain industry. One of the main barriers to entry is license requirements of new grain companies. Other barriers are higher initial investment costs and low margin rates at the present time. Moreover, the uncertain nature of agricultural policies gets introduced by current government and future governments.
Relationships provide valuable information about grain industry; and it helps new companies to promote their services and attract customers.
Threats of substitution
Threat of substitution in grain industry can be categorized in to two; they are threat of substituting for the product and threat of substituting for a service.
Since the grain industry is designed to supply grain which meets certain standards, it is relatively easy to find most suppliers trying to compete on price with same products. When it comes to services and storage available, each of them will be compete on price.
Internal Environment

Strategic resources of Graincorp

Intangible resources
The main intangible resources of the Graincorp is the trade name, customer contracts and relationships, grain research and developments.
Trade name
Graincorp’s trade name changed in some stages of the company’s trade history according to the requirements. Graincorp’s Current trade name had changed when purchasing of United Malt Holding-north America in year 2009 and is still using the same name as a reputed international grain business.

Customer contracts and relationships
Graincorp is dealing with wide variety of customers in locally and internationally. Local customers can be divided in to an Australian growers and Australian buyers. International customers include global buyers and global sellers.
Grain contracts for growers * Spot cash contracts * Forward price contracts * Multi grade forward contract
With all the above customer contracts Graincorp has a good reputation among the local and international customers.

Grain processing and marketing
It has the reputation of the world’s fourth largest grain producer with operations in three regions in the world, Graincorp has 19 malt houses around the world with annual capacity of 1.4 million tons of range of malt qualities.

Grain research and development agreements
Graincorp is also involved in seed breeding, grain analysis and food safety testing in five laboratories around the Australia. Furthermore, all the port laboratories are focus on the quality of the products for export customers.

Tangible resources
Physical resources
Physical resources include grain storage, grain processing plants and marketing offices locally and internationally. Branches located around the world include:
North America * Canada molting company * Great western molting * Country molt * Brew craft
* Marketing * Bairds malt * Chill malz * Scot grain * Saxon agricultures

With Head office, marketing, country logistic branch and 208 processing plants around the Australia.
Marketing offices in Beijing and Singapore
Financial resources
Graincorp’s main financial capability is their good cash balance. If there is any grain supply or demand fluctuation they will be able to handle the pressure.

Human resources
Graincorp’s human resources are including board of directors, CEO, executive management and employees. Executive management include A G Bell Group Chief Financial Officer (appointed 8 November 2010), N P Hart Group General Manager Storage & Logistics (appointed 8 November 2010)
S A Haydon President & CEO, Graincorp Malt (appointed 15 March 2011), A N Johns Chief Development Officer, H L Miles General Manager Corporate Services (appointed 8 November 2010)
S J Tainsh General Manager Marketing (previously called Trading). Graincorp is 1001-5000 employees (graincorp).

SWOT analysis of Graincorp
This section will identify the most prevalent threats Graincorp faces and most realistic opportunities available for the company to apply. The table below summarizes the threats and opportunities will be discussed in this section. Threats | Opportunities | Competitive global marketClimate changesLand degradation | Global demands of agricultural productsCash Available |

According to the Australian Bureau of Statistics between 1998-99 and 2008-09, real national disposable income per capita grows by 2.6% a year (Measures of Australia's Progress, 2010). Moreover, Australia’s annual export volume of coarse grain 2010-11 was 5337000 tones with export volume of $ 1493 billion (commodities-grains).
This is a threat because Australian grain industry develops further and further. Due to this grain industry growth it will make competition among grain companies and it will no longer good advantage to compete on price only. As a leading grain company in Australia Graincorp need to find more possible ways to face the competitors. To achieve this goal Graincorp need to innovate, increase research & development and try to remain challengeable to competitors.

Climate Change
Global supply of grain is highly unstable due to the significant impact of climatic variations on grain production. For instance, the drought of year 2002-3-03 reduced Australia’s wheat production from 24.3 mega tone in 2001-02 to 10.1 mega tones (58% decrease).variations as such, make it difficult to develop and maintain long-term customer relationships in grain trade.
However, expansion of grain business around the world is one of the main solutions to face climatic variations and it will lead the company to sustain on global market.
Land Degradation
Land degradation is an ongoing concern for Australian farming industry and it is directly or indirectly makes an impact on Graincorp’s business performance. In a survey conducted by Australian Bureau of Agricultural and Resource Economics (ABARE), 53% of cropping specialists stated that land degradation “had significant impact on farming business”. The major sources influenced on land degradation which mention that report are weeds and pest animals (31% of farmers surveyed), poor soil quality (22%), water and wind erosion (19%) and dry land salinity (10%).

Cash Available
For the financial year of 2010-11 Graincorp has just over $300 million in cash as stated on the balance sheet in the annual report published 2011.this presents an opportunity for the Graincorp to pursue further research and developments as well as more mergers and acquisitions as Graincorp has done in the past.

Global Demand for Agricultural Products
Global demands of agricultural products are gradually increasing since the last decade. It has been increased due to several factor, two of the main factors driving demand are; * Increasing value food products and animal proteins due to increase of per capita incomes in developed countries. * Increased demand on renewable fuels to reduce the carbon emission and Increase of energy security.
Developing countries such as India, China, Russia, and Brazil are main reason to strong global economic growth. It is one of the main factors to increase the demand of higher value food products. Also, some governments around the world have made it compulsory to use bio fuel blends in transport fuels and have set long term targets.
Above factors will increase the demand of grain industry in future, and will make good opportunities in grain industry

External Environment

Political Factors

Political responses to grain industry included new policies, legislature and taxation at local, state and federal levels.
Government’s tax incentives and grants strengthen the abilities of grain companies. It will enable to deal with more growers, and open more opportunities to buy larger quantities of grain form them.
However, some government legislations and policies have affected the grain industries profitability. For instance, introduction of government’s carbon tax policy and occupational health and safety act a result, had increased the industries expenditure.

Social/Cultural Factors
Social factors of the external environment include lack of interest for agriculture of new generation and environment concerns.
Firstly, farming communities are reducing due to several reasons. Aging farmers and lack of interest about farming in new generation are main reasons for it. Therefore, it reduces the buying proportion of grains and it leads to reduction of annual income of grain companies.
Secondly, environmental concerns such as lack of rain, quality of the surface and ground water, green house gas emissions and land degradations are mostly effective on grain industries.

Technological factors
Technological factors of the external environment are the application of inventions and ideas, research and development and rate of technological change.
To maintain the standards of grain research and development is essential in this industry. It enables buyers to have clarity and confidence of the products they purchase. Furthermore, growers to have clarity around requirements and pricing of the product they supply.
Moreover, technological developments and investments improve the production or operational capacity. Therefore, it will increases the sales of products and attracts more customers.

Economical factors
Macro economic factors that impact the grain industry are the overall state of the economy, economic growth, and stability. The world economic recession of 2008 was affected to the growth of the world grain industry.
Indicators of the overall macroeconomic condition and economic functioning include Gross domestic product, unemployment rates, and price indices.

(2011). Annual Report 2011. Graincorp LImited. commodities-grains. (n.d.). Retrieved 06 21, 2012, from graincorp. (n.d.). Retrieved 06 27, 2012, from linkedin:
Measures of Australia's Progress, 2010. (n.d.). Retrieved 06 15, 2012, from our-history. (n.d.). Retrieved 06 05, 2012, from strategy-and-vision. (n.d.). Retrieved 06 05, 2012, from

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