AGRIBUSINESS MANAGEMENT FINAL || 100%
CORRECT.
who are the 5 players in the global agri-food and fiber system correct answers farmers
manufacturers
traders and retailers
consumers
what are the 4 functions of management correct answers planning
controlling
organizing
directing
what are the 6 steps in the decision making process correct answers 1. problem identification
2. determine alternatives
3. analyze alternatives
4. select best alternatives
5. implement decision
6. follow up
what is the 1st step in creating a successful business plan correct answers define firm's
purpose
(i found this under marketing plan i hope this is right)
what is a business plan designed to do correct answers
what questions should a business plan answer correct answers what is our business?
who are our customers?
what is value to our customers?
what will our business be?
what should our business be?
what should be included in the firm's purpose and objective? correct answers what the firm is
going to do
specific consumer needs the firm intends to meet
how to accomplish its purpose
how to gain competitive edge
what are the 4 utilities of marketing? correct answers form
place
time
possession
what are the 4 P's of marketing? correct answers place
price
product
promotion
, what is the goal of marketing? correct answers to match a company's products and services to
the people who need and want them
what is diminishing marginal utility? correct answers the satisfaction obtained from
consuming each additional unit of a good or service will diminish as more of it is consumed
what is utility maximization? correct answers when given a choice, consumers will always
select the item that gives them the highest level of satisfaction
how do you identify a target market? correct answers 1. gather info on consumer needs
2. compare to see if patterns emerge
3. match product preferences with demographic info of potential consumers
how does a successful firm create a competitive advantage? correct answers strategic
management plan:
1. analyze competitive situation
2. develops a plan to take advantage of external market opportunities
3. counts any threats to its existence
OR low cost and differentiation
what does forecasting help an agribusiness manager understand? correct answers reduces
uncertainty surrounding business decisions and increases profits
what are the 5 factors of forecasting? correct answers 1. accuracy desired
2. time permitted to develop forecast
3. complexity of situation
4. time period projected
5. amount of resources available
what types of forecasts are the best? correct answers
what are they 3 types of budgets? correct answers operating
cash flow
cash flow expenditure
why is the budgeting process valuable? correct answers keeps management's attention on the
achievement of the financial objectives
keeps people focused
what is elasticity? correct answers measures the percentage change in sales for a 1% change
in income
what does organizational structure impact? correct answers business performance
flow of work
differences in corporate goals
where decisions are made
which is a more ideal organizational structure-simple and concise or complex and expansive?
correct answers
CORRECT.
who are the 5 players in the global agri-food and fiber system correct answers farmers
manufacturers
traders and retailers
consumers
what are the 4 functions of management correct answers planning
controlling
organizing
directing
what are the 6 steps in the decision making process correct answers 1. problem identification
2. determine alternatives
3. analyze alternatives
4. select best alternatives
5. implement decision
6. follow up
what is the 1st step in creating a successful business plan correct answers define firm's
purpose
(i found this under marketing plan i hope this is right)
what is a business plan designed to do correct answers
what questions should a business plan answer correct answers what is our business?
who are our customers?
what is value to our customers?
what will our business be?
what should our business be?
what should be included in the firm's purpose and objective? correct answers what the firm is
going to do
specific consumer needs the firm intends to meet
how to accomplish its purpose
how to gain competitive edge
what are the 4 utilities of marketing? correct answers form
place
time
possession
what are the 4 P's of marketing? correct answers place
price
product
promotion
, what is the goal of marketing? correct answers to match a company's products and services to
the people who need and want them
what is diminishing marginal utility? correct answers the satisfaction obtained from
consuming each additional unit of a good or service will diminish as more of it is consumed
what is utility maximization? correct answers when given a choice, consumers will always
select the item that gives them the highest level of satisfaction
how do you identify a target market? correct answers 1. gather info on consumer needs
2. compare to see if patterns emerge
3. match product preferences with demographic info of potential consumers
how does a successful firm create a competitive advantage? correct answers strategic
management plan:
1. analyze competitive situation
2. develops a plan to take advantage of external market opportunities
3. counts any threats to its existence
OR low cost and differentiation
what does forecasting help an agribusiness manager understand? correct answers reduces
uncertainty surrounding business decisions and increases profits
what are the 5 factors of forecasting? correct answers 1. accuracy desired
2. time permitted to develop forecast
3. complexity of situation
4. time period projected
5. amount of resources available
what types of forecasts are the best? correct answers
what are they 3 types of budgets? correct answers operating
cash flow
cash flow expenditure
why is the budgeting process valuable? correct answers keeps management's attention on the
achievement of the financial objectives
keeps people focused
what is elasticity? correct answers measures the percentage change in sales for a 1% change
in income
what does organizational structure impact? correct answers business performance
flow of work
differences in corporate goals
where decisions are made
which is a more ideal organizational structure-simple and concise or complex and expansive?
correct answers
