AGEC 340: EXAM 1 OVER THE BOOKS
CONCEPTS 100% SOLVED
Key nFunctions nof nthe nAgribusiness nManager n- ncorrect nanswers n-1. nmarketing
nmanagement
2. nfinancial nmanagement
3. nsupply-chain nmanagement
4. nhuman nresource nmanagement
Marketing nmanagement n- ncorrect nanswers n-- ninvolves nunderstanding ncustomers
nneeds nand nefficiently npositioning nand nselling nproducts nin nthe nmarketplace
- nflow nof nproducts nfrom nproducer nto nconsumer
- nhow,where,why,when, nand nwho
- nfocuses non nthe nend nuser
Profit n- ncorrect nanswers n-- nthe ndriver nfor nagribusiness nas nthey nwork nto ngenerate
nthe ngreatest npossible nreturn nfrom ntheir nresources
, Financial nmanagement n- ncorrect nanswers n-- nincludes ngenerating nthe ndata nneeded
nto nmake ngood ndecisions, nusing nthe ntools nof nfinance nto nmake ndecisions nand
nmanaging nthe nfirms nassets, nliabilities, nand nowners ninvestments
- nuse nbusinesses nbalance nsheet nand nincome nstatement
- nunderstanding nthe ncurrent n"health" nof nthe nbusiness
- nfunding
Supply-Chain nManagement n- ncorrect nanswers n-- nfocuses non nproduction nand
ndistribution nactivities nand nprovides nthe ntools nnecessary nto nunderstand noperation
nand nlogistics nchallenges
Operations n- ncorrect nanswers n-deals nwith nthe ndirection nand ncontrol nof nthe
nprocess nof nproduction
Logistics n- ncorrect nanswers n-deals nwith nthe nactivities nof nstoring nand ntransporting
ngoods
Successful nagribusiness nmanagers nare nthose nwho
nproduce____________,_________________, nand n______________________ n-
ncorrect nanswers n-faster,better, nand ncheaper
Human nResource nManagement n- ncorrect nanswers n-- nmanagement nof nthe
nmechanics nof npersonnel nadministration nand nthe nfiner npoints nof nmotivating npeople
nto noffer nand ncontribute ntheir nmaximum npotential
8 nUnique nDimensions nof nthe nFood nand nAgribusiness nMarkets n- ncorrect nanswers
n-1. nFood nas na nProduct
2. nBiological nNature nof nProduction nAgriculture
3. nSeasonality nNature nof nBusiness
4. nUncertainty nof nWeather nConditions
5. nTypes nof nFirms
6. nVariety nof nMarket nConditions
7. nRural nTies
8. nGovernment nInvolvement
3 nPrimary nSectors nof nthe nAgricultural nSupply nChain n- ncorrect nanswers n-1. nFood
nSector
2. nProduction nSector
3. nInput nSupply nSector
Food nSector n- ncorrect nanswers n-- nresponsible nfor nfood nprocessing, nmarketing,
nand ndistribution
Production nSector n- ncorrect nanswers n-- npurchased ninputs, nnatural nresources, nand
nmanagerial ntalent nare ncombined nto nproduce ncrop nand nlivestock nproducts.
- nalso nknown nas nfarm nsector
CONCEPTS 100% SOLVED
Key nFunctions nof nthe nAgribusiness nManager n- ncorrect nanswers n-1. nmarketing
nmanagement
2. nfinancial nmanagement
3. nsupply-chain nmanagement
4. nhuman nresource nmanagement
Marketing nmanagement n- ncorrect nanswers n-- ninvolves nunderstanding ncustomers
nneeds nand nefficiently npositioning nand nselling nproducts nin nthe nmarketplace
- nflow nof nproducts nfrom nproducer nto nconsumer
- nhow,where,why,when, nand nwho
- nfocuses non nthe nend nuser
Profit n- ncorrect nanswers n-- nthe ndriver nfor nagribusiness nas nthey nwork nto ngenerate
nthe ngreatest npossible nreturn nfrom ntheir nresources
, Financial nmanagement n- ncorrect nanswers n-- nincludes ngenerating nthe ndata nneeded
nto nmake ngood ndecisions, nusing nthe ntools nof nfinance nto nmake ndecisions nand
nmanaging nthe nfirms nassets, nliabilities, nand nowners ninvestments
- nuse nbusinesses nbalance nsheet nand nincome nstatement
- nunderstanding nthe ncurrent n"health" nof nthe nbusiness
- nfunding
Supply-Chain nManagement n- ncorrect nanswers n-- nfocuses non nproduction nand
ndistribution nactivities nand nprovides nthe ntools nnecessary nto nunderstand noperation
nand nlogistics nchallenges
Operations n- ncorrect nanswers n-deals nwith nthe ndirection nand ncontrol nof nthe
nprocess nof nproduction
Logistics n- ncorrect nanswers n-deals nwith nthe nactivities nof nstoring nand ntransporting
ngoods
Successful nagribusiness nmanagers nare nthose nwho
nproduce____________,_________________, nand n______________________ n-
ncorrect nanswers n-faster,better, nand ncheaper
Human nResource nManagement n- ncorrect nanswers n-- nmanagement nof nthe
nmechanics nof npersonnel nadministration nand nthe nfiner npoints nof nmotivating npeople
nto noffer nand ncontribute ntheir nmaximum npotential
8 nUnique nDimensions nof nthe nFood nand nAgribusiness nMarkets n- ncorrect nanswers
n-1. nFood nas na nProduct
2. nBiological nNature nof nProduction nAgriculture
3. nSeasonality nNature nof nBusiness
4. nUncertainty nof nWeather nConditions
5. nTypes nof nFirms
6. nVariety nof nMarket nConditions
7. nRural nTies
8. nGovernment nInvolvement
3 nPrimary nSectors nof nthe nAgricultural nSupply nChain n- ncorrect nanswers n-1. nFood
nSector
2. nProduction nSector
3. nInput nSupply nSector
Food nSector n- ncorrect nanswers n-- nresponsible nfor nfood nprocessing, nmarketing,
nand ndistribution
Production nSector n- ncorrect nanswers n-- npurchased ninputs, nnatural nresources, nand
nmanagerial ntalent nare ncombined nto nproduce ncrop nand nlivestock nproducts.
- nalso nknown nas nfarm nsector
