Case study: Valley View Farm Aurelie lives with her parents in Valley View Farm, in a beautiful part of the country. Most of the farm produce is sold to a local co-operative. This is the family's only source of income. In recent years, Aurelie's parents have become concerned about the fall in prices that they receive for their produce. Their mission of the business is to bring the high quality farm produce to all their vision is to make the best farm produce that is produced in an ethical way" Aurelie's parents always meet their legal responsibilities and they also have strong ethical principles. Her parents always pay their workers a good wage and only buy resources from other ethical suppliers. With falling prices, they are receiving less profit from their produce each year. The family needs to find a way to increase the income that they earn as their business objective is to increase their profit. Valley View Farm is not meeting their business objective. Do you think they should change their objective to increase their profit? 1. Explain if you think they should keep their objective or change it. 2. Describe the importance of mission statement, vision statements, goals (long-term) and objectives (short-term) for Valley View Farm. (Include definitions) 3. Explain why Valley View Farm should keep their objective or change their objective. Include at least 2 advantages for the options. 4. Evaluate the importance of changing actions for Valley View Farm as their goals are not being met. a. Should they change their goals? (include 2 advantages/2 disadvantages for this action) b. Should they change their strategies? (include 2 advantages/2 disadvantages for this action) 5. Create a potential new SMART business objective for the business based on the text. 6. Summaries your point and justify why the business should change or keep their business objective