Agec-340 Exam 1 (Chapter 2) Correct 100%

AGEC-340 EXAM 1 (CHAPTER 2)
CORRECT 100%
· Management is both an ______ and a ______________ of successfully pursuing
desire results with the resources available to the organization. - ANSWERart and a
science

Levels of Planning - ANSWERstrategic, tactical, operational

Strategic Level - ANSWERExecutive management
Very flexible
Long term
Written analysis Complex, detailed
Broad

Tactical Level - ANSWERMiddle management Somewhat flexible Intermediate term
Written reports
Less detailed, outlines
General

Management requires: Technical - ANSWERTechnical knowledge about the
organization's product and/or function

Management requires: Good - ANSWERGood and effective communicators

Management requires: The - ANSWERThe ability to motivate people

Management Requires: Proficient - ANSWERProficient in technical skills, like
accounting, finance, and forecasting

Management requires: Strong - ANSWERStrong understanding of biological and
institutional factors surrounding the production of food and fiber

Four key Task of Agribusiness Managers - ANSWERPlanning, Organizing, Directing,
Controlling

Types of Planning - ANSWERstrategic, tactical, contingency

Strategic Planning - ANSWERfocused on developing courses of action for the longer
term; two to twenty-year (or longer) horizon

Tactical Planning - ANSWERfocuses on short-term plans consistent with the
strategic plan; tomorrow or next month or next year timeline

contingency planning - ANSWERthe development of alternative plans for various
possible business conditions; prepare for the unexpected