Question: You must answer ALL the questions in this section.Or . Minnie Himalayan ( Ph . D . in Agricultural & Resource Economics, University of Alberta
You must answer ALL the questions in this section.Or Minnie Himalayan PhD in Agricultural & Resource Economics, University of Alberta is the owner and manager of Alberta Catnip in St Albert, AB Dr Himalayan developed her patented strain of Organic Super Catnip as part of her university research. Currently, Alberta Catnip is the only catnip processer licensed to grow and process Super Catnip. currently, Alberta Catnip produces Super Catnipscented toys, seeds, and fresh catnip for consumption. There are twentyfive staff: the owner, four administrative staff, five managers, and ten other catnip technicians. Dr Himalayan hopes to follow a growth strategy for her business, as she would like to expand her business. Dr Himalayan's company s mission is to delight her customers by delivering effective, tasty, and pleasantly scented organic catnip products for her customers in Alberta and beyond.Several customers have requested Alberta Catnip expand their organic catnip selection to include teas, snacks, and even catnipinfused oilssprays Dr Himalayan and her research have investigated this and determined that creating these products will cost more as tea bags, snacks, and oil ingredients will have to be sourced from entirely different suppliers than their "regular" suppliers, and some of these additives may have to be sourced from outside North America. She would also have to purchase new equipment to create these new catnipinfused products, requiring more production lines. Dr Himalayan is also unsure if there will be enough customer demand to make the additional staffing, shipping costs, and supply issues worthwhile.Dr Himalayan has also considered expanding her company by creating a Relaxation Centre Spa to highlight these new catnipinfused products and promote relaxed living. Dr Himalayan thinks collaborating with a local resort would facilitate this option. This decision would also allow Alberta Catnip to expand its products to new but related markets.On the other hand, Alberta Catnip doesn't want to spread its efforts too thinly or expand too quickly. Dr Himalayan would also have to design and possibly build a whole new sparesort area within the local resort and hire at least five more people to help produce the new products thus increasing costs. Dr Himalayan may also have to contend with possible collaboration issues with the local spa and the seasonal demand nature of the resort industry. Dr Himalayan is also considering creating a "teaching and research area" in her catnip production facility to help increase research and development in the agricultural catnip sector.Whatever the decision, Dr Himalayan only has a short window of opportunity to determine if she will make enough profit to justify any of these new business directions.What should Dr Himalayan do next?
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