AGEC 340 EXAM 1 WITH FULL PACK
SOLUTIONS
Four vkey vfunctions vof vmanagment v- vcorrect vanswers v-Marketing, vFinancial,
vSupply vChain, vand vHuman vResource vmgmt
Marketing vmanagement vdefinition v- vcorrect vanswers v-the vprocess vby vwhich
vproducts vflow vthrough vthe vUS vfood vsystem vfrom vproducer vto vfinal vconsumer
Key vaspects vof vMarketing vmanagment v- vcorrect vanswers v--understanding
vcustomer vneeds vand veffectively vpositioning vand vselling vproducts vand vservices vin
vthe vmarketplace.
-requires vselling, vadvertising, vweb vpage vdesign, vand vpricing. v
-everything vis vfocused von vcostumer vneeds vand vwants, vquest vfor vcustomer
vsatisfaction.
Financial vmanagement vkey vaspects v- vcorrect vanswers v--Profit vis vthe vdriver vfor
vagribusiness vas vthey vwork vto vgenerate vthe vgreatest vpossible vreturns vfrom vtheir
vresources.
,-generating vthe vdata vneeded vto vmake vgood vdecisions, vusing vthe vtools vof vfinance
vto vmake veffective vdecisions, vand vmanaging vthe vassets, vliabilities, vand vowners'
vinvestments vin vthe vfirm.
what vallows vmanagers vto vunderstand vthe vcurrent v"health" vof vthe vfirm, vand vto
vdetermine vwhat vactions vto vtake vto vimprove? v- vcorrect vanswers v-Financial
vinformation
What vis vanother vway vin vwhich vthe vfinancial vagribusiness vscene vchanges? v-
vcorrect vanswers v-in vthe vsourcing vof vfunds
three vtypes vof vsupply vchain vmanagment v- vcorrect vanswers v-supply vchain vmgmt
operations vmgmt
logistics vmgmt
which vmanagement vfocuses von vquality, vlower vcosts, vchanges vin vthe vsupply
vchain, vand vgeneral vpressures vto vbe vmore vefficient vwhile vproviding vthe vtools
vmanagers vneed vto vmeet vthese voperation vand vlogistical vchallenges? v- vcorrect
vanswers v-supply vchain vmgmt
which vmanagement vfocuses von vthe vdirection vand vthe vcontrol vof vthe vprocesses
vused vto vproduce vthe vgoods vand vservices vthat vwe vbuy vand vuse veach vday
vthrough vstrategic vuse vand vmovement vof vresources? vand vwhat vare vsome vof vits
vissues? v- vcorrect vanswers v-operations vmanagement, vsome vissues vinclude
vscheduling, vcontrolling, vstoring, vand vshipping.
which vmanagement vinvolves vthe vset vof vactivities varound vstoring vand vtransporting
vgoods vand vservices? vWhat vare vthey vtrying von vways vto vlower vcosts? v- vcorrect
vanswers v-Logistics vmanagement, vshipping vand vinventory vcosts vare vhuge, vlogistics
vmgmt vis vfocusing von vlowering vthem
management vis vabout v- vcorrect vanswers v-people
human vresource vmgmt vencompasses vmanaging vwhat vtwo vareas: v- vcorrect
vanswers v--the vmechanics vof vthe vpersonnel vadministration, vand
-the vfiner vpoints vof vmotivating vpeople vto voffer vand vcontribute vtheir vmaximum
vpotential.
How vto vorganize va vfirm, vwhere vto vfind vpeople, vhow vto vhire vthem, vand vhow vto
vcompensate vthem vand vhow vto vevaluate vthem vare vissues vto vwhat vmgmt? v-
vcorrect vanswers v-human vresource vmgmt
what v8 vthings vmake vagriculture vunique? v- vcorrect vanswers v-following v8 vcards
food vis vvital vto vthe v--------and----- vof vevery------- v. v- vcorrect vanswers v-health,
vsurvival, vindividual
, ------nature vof vagriuclture vproduct vbrings----- vto v------- vchallenges v- vcorrect vanswers
v-Biological, vrise, vunique
-------affects vboth vsupply vand v---- v- vcorrect vanswers v-Seasonality, vdemand
-----uncertainty vis va vconstant v----- vfor vmost v------- v- vcorrect vanswers v-wheater,
vthreat, vagribusiness
there vis va v------- vvariety vacross vthe vtypes vof v------ vin vthe v------ vand vagribusiness
vsectors. v- vcorrect vanswers v-tremendous, vbusiness, vfood
there vis va v----- vrange vof vmarket----- vand v------- v- vcorrect vanswers v-wide,
vconditions, vstructures
ties vto v----- vtowns vand v---- vareas v- vcorrect vanswers v-small, vrural
the v------- vhas va vfundamental v----- vin vfood vand vagribusiness v- vcorrect vanswers v-
government, vrole
The vUS vfood vproduction vand vmarketing vsystem vis vdivided vinto vthree vsectors
vwhich vare? vAKA vas? v- vcorrect vanswers v-input vsupply vsector
production vsector
food vsector
AKA vas van vagricultural vsupply vchain
which vsector vis vmade vup vof vfirms vthat vmanufacture vand vdistribute vthe vthousand
vof vdifferent vinputs- vproducts vand vservices- vto vproduction vagriculture? v- vcorrect
vanswers v-input vsupply vsecotr
what vis vamong vthe venterprises vwhich vfall vunder vthe vgeneral vcategory vof vinput
vsuppliers? v- vcorrect vanswers v-animal vnutrition
seed
machinery vand vequipment
fertilizer
crop vprotection
and vcredit vand vbanking vfirms
due vto vthe vproducts vand vservices vprovided vby vthe vinput vsupply vsector, vthe
vproductivity vof vthe vagricultural......... v- vcorrect vanswers v-.....production vsector
vcontinues vto vincrease
the vfarm vinput vsupply vsector vis vdivided vinto vwhat vthree vareas? v- vcorrect vanswers
v-manufacturing
distribution
services
SOLUTIONS
Four vkey vfunctions vof vmanagment v- vcorrect vanswers v-Marketing, vFinancial,
vSupply vChain, vand vHuman vResource vmgmt
Marketing vmanagement vdefinition v- vcorrect vanswers v-the vprocess vby vwhich
vproducts vflow vthrough vthe vUS vfood vsystem vfrom vproducer vto vfinal vconsumer
Key vaspects vof vMarketing vmanagment v- vcorrect vanswers v--understanding
vcustomer vneeds vand veffectively vpositioning vand vselling vproducts vand vservices vin
vthe vmarketplace.
-requires vselling, vadvertising, vweb vpage vdesign, vand vpricing. v
-everything vis vfocused von vcostumer vneeds vand vwants, vquest vfor vcustomer
vsatisfaction.
Financial vmanagement vkey vaspects v- vcorrect vanswers v--Profit vis vthe vdriver vfor
vagribusiness vas vthey vwork vto vgenerate vthe vgreatest vpossible vreturns vfrom vtheir
vresources.
,-generating vthe vdata vneeded vto vmake vgood vdecisions, vusing vthe vtools vof vfinance
vto vmake veffective vdecisions, vand vmanaging vthe vassets, vliabilities, vand vowners'
vinvestments vin vthe vfirm.
what vallows vmanagers vto vunderstand vthe vcurrent v"health" vof vthe vfirm, vand vto
vdetermine vwhat vactions vto vtake vto vimprove? v- vcorrect vanswers v-Financial
vinformation
What vis vanother vway vin vwhich vthe vfinancial vagribusiness vscene vchanges? v-
vcorrect vanswers v-in vthe vsourcing vof vfunds
three vtypes vof vsupply vchain vmanagment v- vcorrect vanswers v-supply vchain vmgmt
operations vmgmt
logistics vmgmt
which vmanagement vfocuses von vquality, vlower vcosts, vchanges vin vthe vsupply
vchain, vand vgeneral vpressures vto vbe vmore vefficient vwhile vproviding vthe vtools
vmanagers vneed vto vmeet vthese voperation vand vlogistical vchallenges? v- vcorrect
vanswers v-supply vchain vmgmt
which vmanagement vfocuses von vthe vdirection vand vthe vcontrol vof vthe vprocesses
vused vto vproduce vthe vgoods vand vservices vthat vwe vbuy vand vuse veach vday
vthrough vstrategic vuse vand vmovement vof vresources? vand vwhat vare vsome vof vits
vissues? v- vcorrect vanswers v-operations vmanagement, vsome vissues vinclude
vscheduling, vcontrolling, vstoring, vand vshipping.
which vmanagement vinvolves vthe vset vof vactivities varound vstoring vand vtransporting
vgoods vand vservices? vWhat vare vthey vtrying von vways vto vlower vcosts? v- vcorrect
vanswers v-Logistics vmanagement, vshipping vand vinventory vcosts vare vhuge, vlogistics
vmgmt vis vfocusing von vlowering vthem
management vis vabout v- vcorrect vanswers v-people
human vresource vmgmt vencompasses vmanaging vwhat vtwo vareas: v- vcorrect
vanswers v--the vmechanics vof vthe vpersonnel vadministration, vand
-the vfiner vpoints vof vmotivating vpeople vto voffer vand vcontribute vtheir vmaximum
vpotential.
How vto vorganize va vfirm, vwhere vto vfind vpeople, vhow vto vhire vthem, vand vhow vto
vcompensate vthem vand vhow vto vevaluate vthem vare vissues vto vwhat vmgmt? v-
vcorrect vanswers v-human vresource vmgmt
what v8 vthings vmake vagriculture vunique? v- vcorrect vanswers v-following v8 vcards
food vis vvital vto vthe v--------and----- vof vevery------- v. v- vcorrect vanswers v-health,
vsurvival, vindividual
, ------nature vof vagriuclture vproduct vbrings----- vto v------- vchallenges v- vcorrect vanswers
v-Biological, vrise, vunique
-------affects vboth vsupply vand v---- v- vcorrect vanswers v-Seasonality, vdemand
-----uncertainty vis va vconstant v----- vfor vmost v------- v- vcorrect vanswers v-wheater,
vthreat, vagribusiness
there vis va v------- vvariety vacross vthe vtypes vof v------ vin vthe v------ vand vagribusiness
vsectors. v- vcorrect vanswers v-tremendous, vbusiness, vfood
there vis va v----- vrange vof vmarket----- vand v------- v- vcorrect vanswers v-wide,
vconditions, vstructures
ties vto v----- vtowns vand v---- vareas v- vcorrect vanswers v-small, vrural
the v------- vhas va vfundamental v----- vin vfood vand vagribusiness v- vcorrect vanswers v-
government, vrole
The vUS vfood vproduction vand vmarketing vsystem vis vdivided vinto vthree vsectors
vwhich vare? vAKA vas? v- vcorrect vanswers v-input vsupply vsector
production vsector
food vsector
AKA vas van vagricultural vsupply vchain
which vsector vis vmade vup vof vfirms vthat vmanufacture vand vdistribute vthe vthousand
vof vdifferent vinputs- vproducts vand vservices- vto vproduction vagriculture? v- vcorrect
vanswers v-input vsupply vsecotr
what vis vamong vthe venterprises vwhich vfall vunder vthe vgeneral vcategory vof vinput
vsuppliers? v- vcorrect vanswers v-animal vnutrition
seed
machinery vand vequipment
fertilizer
crop vprotection
and vcredit vand vbanking vfirms
due vto vthe vproducts vand vservices vprovided vby vthe vinput vsupply vsector, vthe
vproductivity vof vthe vagricultural......... v- vcorrect vanswers v-.....production vsector
vcontinues vto vincrease
the vfarm vinput vsupply vsector vis vdivided vinto vwhat vthree vareas? v- vcorrect vanswers
v-manufacturing
distribution
services
