A Case Study on the Center for Bamboo Development Inc. (CBDI): Focus on its Conversion to an Agritourism Enterprise
Date
12-2024
Degree
Bachelor of Science in Agribusiness Management
College
College of Economics and Management (CEM)
Adviser/Committee Chair
Dinah Pura T. Depositario
Committee Member
Rei Chino C. Pua, Jennica Amielle M. Mora, Dia Noelle F. Velasco
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Abstract
Center for Bamboo Development Inc. (CBDI) is the subject of this research, which was founded to promote the use of bamboo in the province of La Union. The center is located in the municipality of Pugo, La Union. There are currently 9 employees in the center, 5 of which are the board of directors. As part of the center’s purpose to promote the use of bamboo and bamboo production in the Philippines, the employees offer training to the people in the community of Pugo, La Union.
The study entitled “A Case Study on the Center for Bamboo Development, Inc. (CBDI): Focus on its Agritourism Enterprise” was conducted to assess the performance of CBDI as a center and as one of the key promoters of bamboo production in Pugo, La Union. Specifically, the study intended to: (a) describe the historical background and business model of the Center for Bamboo Development Inc. (CBDI); (b) evaluate the external and internal environment of the business; (c) assess strengths, weaknesses, opportunities, and threats of the business; (d) analyze the critical business issues; (e) present strategic solutions to identified problems and design an implementation plan for the recommended strategy.
The farm is still in the process of turning the farm into an agritourism site. There are a lot of factors to consider before turning it into an agritourism enterprise. The biggest factor would be the lack of capitalization that is hindering the business from expanding and upgrading the farm.
Since its founding in 2018, the center has demonstrated how important it is to encourage the production of bamboo in Pugo, La Union. As of late, the center only provides two options for its products and services: BambuBlack, an engineered bamboo product, and the facilitation of training in bamboo production in Pugo, La Union.
The board of directors was interviewed in-person and over the phone to acquire primary data. The researcher also used a questionnaire to help collect the data and information needed. Meanwhile, financial statements and other secondary data were taken from the center's documentation. To bolster the study, information was also acquired from publications, research papers, books, and journals on agriculture.
To investigate the case subject's internal and external environments, management techniques like PESTLE Analysis and SWOT Analysis were applied. Using financial ratios and horizontal analysis, the financial statements of CBDI from 2020 were compared, and the company's financial standing was evaluated. Studying the four business functions— marketing, operations, finance, and human resources—helped to pinpoint the main difficulties CBDI is facing.
The most urgent and significant issue that CBDI is currently dealing with is its lack of capitalization and inadequate strategic planning, according to an analysis of the issues raised in each of the organization's business functions. This study offered short-, medium- , and long-term solutions to CBDI's identified primary problem in order to direct the center toward future growth and address its present problems. These metrics were extracted from the SWOT Analysis that the researcher conducted. The following short- term solutions are (1) train more employees to become TESDA certified bamboo trainers, (2) develop partnerships with local businesses or establish a membership program for regular visitors, and (3) establish a strong online presence. Medium-term goals on the other hand, include activities like (1) find investors to fund the shift from farm to an agri-tourism enterprise and (2) seek grants, local sponsorships, or collaborate with community organizations to host small events on the farm to generate additional income. Lastly, transforming the farm into an agri-tourism enterprise would be the center’s long-term goal.
Some highlights of the strategic plan are the proposed change of the vision and mission statements and objectives. To track the progress towards the proposed objectives, key performance indicators will be used. Business models for the agritourism site and BambuBlack are also provided to outline the way the business operates and make money. Functional areas such as Marketing, HR, Operations and Finance were also discussed in the strategic plan.
The new strategic plan will include offerings like farm-to-table dining experience, educational experiences like workshops and farm tours, wellness programs, and cultural immersion. Some examples of revenue streams of the agritourism site would be the accommodation fees, entrance fees, and farm tour experiences. There will also be a store or shop inside wherein visitors can purchase the bamboo-made products like bamboo charcoal and bamboo-weaved products like lamps, bags, and baskets.
There are a number of challenges the company is facing. One of these challenges is the lack of funding for the establishment of the agritourism site in the farm. This is the biggest and most crucial part in the plan of turning the farm into an agritourism site. Another challenge is the motivation of the board to continue running the company. The board of directors are currently also involved in other business ventures so their main focus is not on this business. There are a lot of factors to consider as to what to do with the business and how to further develop the land given.
It is believed that each of these strategic options will be essential to the company's survival over the next five years. To strengthen CBDI's strategic management, the center must rework its vision, mission, and goals in which the researcher has suggested. Afterwards, in order to assist and direct the board of directors in redefining CBDI's mission, a suggested strategic direction was put forth.
Language
English
LC Subject
Bamboo, Agritourism, Business enterprises
Location
UPLB College of Economics and Management (CEM)
Call Number
LG 993 2024 M17 C75
Recommended Citation
Cristobal, Alexandra Naomi G., "A Case Study on the Center for Bamboo Development Inc. (CBDI): Focus on its Conversion to an Agritourism Enterprise" (2024). Undergraduate Theses. 12284.
https://www.ukdr.uplb.edu.ph/etd-undergrad/12284
Document Type
Thesis
Notes
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