Farm Business Management Final Exam Questions with Correct Answers 2025

Farm Business Management Final Exam Questions
with Correct Answers 2025
list the 4 functions of management - CORRECT ANSWER -planning, implementation, control, adjustment



list the 2 types of decisions - CORRECT ANSWER -strategic, tactical



describe planning - CORRECT ANSWER -choosing a course of action, policy, or procedure to: establish
goals, inventory resources; allocate resources, identify, analyze, and select alternatives



describe implementation - CORRECT ANSWER -acquire the resources needed to put a plan into action



describe control - CORRECT ANSWER -monitor the results, record information, compose results to a
standard



describe adjustment - CORRECT ANSWER -tweaking of the plan if results are not what was expected,
diagnosing why certain results were achieved and determine what changes need to be made



strategic decisions are (long term/short term) - CORRECT ANSWER -long term



tactical decisions are (long term/short term) - CORRECT ANSWER -short term



strategic decisions are deciding (what/how) to do something - CORRECT ANSWER -what



tactical decisions are deciding (what/how) to do something - CORRECT ANSWER -how



list the steps of strategic farm management - CORRECT ANSWER -define the business mission

formulate and prioritize goals

assess the resources of the business

survey the business environment

identify and select strategies