Medicine Hat Meat Traders Case Study

Medicine Hat Meat Traders Case Study

Medicine Hat Meat Traders are a family business with six members. The business deals with the meat shop and the family members play different roles in its operations. This document will analyze the internal and external environment and the key resources of the business through the VRIN model.

Internal Environment

The internal environment of the business includes all the factors that the enterprise can control within its operations and management. Medicine Hat Meat Traders is managed by the family, with each member has separate roles. The business focuses on different flavors of beef jerky with a plan to experiment with other products through product mix. The business has other products such as Caesar sticks, which is a major strength to the company through its TED Talks endorsement. The company has established a supply chain which has enabled it to produce and supply its products successfully. The business is affected by the need to adjust to automation instead of labor. The future of the business is at stake through the retirement of Pahl. Concerns on how to grow the business or maintain the current status quo are worrying to the management.

External Environment

The external environment includes all the factors that affect MHMT. The business is affected by market trends and the demand for appropriate, nourishing, flavorful, and fresh foods. Government agencies, health advocates, and animal diseases affect the demand and cost of beef products. MHMT is indirectly affected by tariffs imposed on its products. The business is influenced by consumers’ need to support the local farms. MHMT is influenced by Canadian government regulations on licensing, preventive control, traceability, and inspection. These regulations lower the sales of the business. MHMT faces competition from major brands that develop new products affecting its supply to the retail stores.

VBIN Model

This model helps the company analyze and determine whether the resources in the business are effective in developing the business.

Valuable- MHMT valuable resources include the strategies that the business uses to outdo the competitors. The company uses the product mix to create value for its beef jerky. Its products are also endorsed through TED Talks as a way of marketing.

Rare- The business focuses on dried-meat soft beef jerky and uses different flavors which are rare and scarce to create the product value.

Imperfectly Imitable- Caesar sticks are connected to MHMT and cannot be duplicated by competitors since they have been featured in TED Talks. The business struggled to find the perfect combination for the product.

Non-substitutable- Cows are the major resources for MHMT and cannot be substituted since the business focuses on beef products. Other resources would not create the same products and would affect its operations.