AGB 133 - Intro to Agricultural Business
Last Date of Approval: 2020
Total Lecture Hours: 45
Total Lab Hours: 0
Total Clinical Hours: 0
Total Work-Based Experience Hours: 0
This course is an introduction to agribusiness management. It will emphasize the application of basic, practical business management skills in marketing, demand analysis, forecasting, production, finance, and leadership with a global perspective. This course will help students develop critical thinking skills necessary for making management decisions regarding the business and its employees. These skills and experiences gained through this course will allow them to be successful in all types of careers.
Mode(s) of Instruction: traditional/face-to-face
Credit for Prior Learning: There are no Credit for Prior Learning opportunities for this course
Course Fees: None
Student Learning Outcomes and Objectives:
Student Learning Outcomes
1. Demonstrate the principles of agribusiness management through classroom management activities.
2. Explain the four functions of management in agribusiness and how they may integrated into a business model.
3. Examine how to be an effective agribusiness manager while operating a a student-run class business.
Introduction to Agriculture Business Objectives:
1. Describe how agribusiness firms operate in a global food system. Explain why agribusiness managers must integrate rapidly changing technology with management skills
2. Explain how firms earn their right to make a profit when they give customers value. Explain why a firm’s success requires they be the first choice of customers, employees and investors. Identify management and leadership skills necessary for success. Identify the Four Functions of Management. Summarize the six step process used in business decision making.
3. Explain the Mission of Marketing. Summarize the Nine Marketing Functions and consumer satisfaction.
4. Summarize the changing role of marketing. Explain the relationship between marketing and the Four Functions of Management. Summarize the Four P’s of marketing. Explain the role of a business plan in the success of an agribusiness.
5. Explain the value of economics in explaining how customers make decisions.
6. Explain the factors that influence consumer demand and the factors that shift consumer demand.
7. Explain Strategic Management and why it is important to long run success of the business. Identify elements in a firm’s competitive advantage.
8. Explain the value of forecasting. Demonstrate the following forecasting procedures: extrapolation, graphical analysis, adjustment for inflation and population, and seasonal pricing. Describe how to successfully use forecasts in business planning.
9. Recognize the role of budgets in a successful agribusiness. Identify three types of budgets - benefits and limitations. Describe the relationship between operating, cash flow, and capital expenditure budgets.
10. Explain the role that an effective and efficient organizational structure plays in the success of an agribusiness. Discuss major ways to organize a business. Discuss the advantages and disadvantages of centralized versus centralized Decision-making.
11. Explain the three primary types of legal structure - advantages and disadvantages. Recognize the legal, income and tax implications of selecting legal structure.
12. Explain the role that production management plays in profitability of a successful agribusiness.
13. Explain the importance of Production and Inventory Management to a successful agribusiness.
14. Identify basic accounting documents and evaluation of the financial performance of an agribusiness.
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