Agribusiness Management
Agribusiness Management Definition
Agribusiness Management Definition The making of business decisions that tend to maximize net income consistent with the operators objectives.
What decisions need to be made? • What do produce? • How much to produce? • What kinds and amounts of resources to use? • What technology to use? • When to buy and sell? • How to finance?
Who makes the decisions? • • Farm Operator Spouse Landlords Farm managers Farm Advisors Government Financers
Major Areas of Business Management • • • Planning Organizing Directing (leading) Staffing Controlling
Decision Making Steps • • • 1. Define the problem 2. List Alternatives 3. Analyze alternatives 4. Select best alternatives 5. Act on decision 6. Evaluate
Good Managers vs. Bad Managers • • • Takes Pride Neat Plans ahead good record keeping has the expertise • • • Careless Unorganized shoots from the hip no records outdated methods
Four Basic Business Structures • • Sole Proprietorship Partnership Corporation Cooperative
Sole Proprietorship • One owner makes all decisions • owner responsible for all liabilities • can have multiple employees
Partnership • Owned by two or more people • Owners are responsible for their share of liabilities • Written agreements usually specify percent of ownership, responsibilities, and decision making process.
Corporation • Owned by stockholders • Business is treated as a single entity • Stockholders not personally responsible for liabilities of the business • Returns profits in form of “dividends” to stockholders
Cooperative • Owned by the users of the business • Elected board of directors • Profits are returned in the form of “patronage refunds” to users of the coop
Business Mission Statement • Mission - a concise statement (25 words or less) of the goals and objectives of the business. • Acceptable - “ To produce high quality tilapia filets at a profit for retail food stores within a 60 -mile radius of our production facility. ”
Mission Statements • Unacceptable = – “ To make a profit growing fish” – “ To sell fish to area food stores” – “ To sell everything we grow”
What is your mission statement?
SHS Ag Department Mission Statement • 1) To provide the cognitive, psychomotor, and effective skills necessary for a student of agriculture to succedd in an agriculture occupation, and • 2) To provide the agriculture student with a basis of agriculture skills and knowledge on which that student can build during his/her further education.
SHS Agriculture Program Goals • 1) To improve the quality of life for the Seneca community, the state and the nation, and • 2) To contribute to the goals and objectives of SHS by being an integral component of the school system, and: • 3) to develop agricultural competencies needed by individuals engaged in or preparing to be engaged in agricultural occupations and:
Program goals, cont. • 4) To develop leadership, communication and interpersonal skills to enable an individual to obtain employment and to be successful in that employment and • 5) to develop an awareness and literacy of the agriculture industry in all members of the community
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