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Introduction to Farm and Agribusiness Management

Farm and Agribusiness Management Curriculum

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Lesson 1.1 �Being a Farm and Agribusiness Manager

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Learning Targets

Identify the roles and responsibilities of a farm and agribusiness manager.
Identify the knowledge and skills required to be successful in farm and ranch business management.

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Essential Question

What does the role of a farm and agribusiness manager consist of?

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Engage

What does a farm and agribusiness manager look like?

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Explore Activity Instructions

Find the definition of the term.
Create a sentence using the vocabulary term correctly.
Share and swap.

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Lesson 1.1 Vocabulary Terms

Continuous Learning: The ongoing process of acquiring new knowledge and skills throughout life to adapt to changing circumstances and stay relevant. 

Farm and Agribusiness Management: The organization and operation of a farm business to meet the goals of the owners. 

Farm and Agribusiness Manager: An individual responsible for overseeing daily operations, implementing production strategies, managing finances, and organizing/coordinating various aspects of agricultural activities to ensure the efficiency and profitability of a farm business. 

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Lesson 1.1 Vocabulary Terms

Financial Management: The activities of acquiring the necessary data for informed decision-making, employing financial tools to make effective choices, and overseeing the management of assets, liabilities, and owner’s investment. 

Firm: Economic entities established by profit-seeking individuals or groups of individuals, utilizing resources to produce and provide goods and services for sale in the marketplace. 

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Lesson 1.1 Vocabulary Terms

Human Resource Management: Overseeing the recruitment, development, and management of a firm’s workforce to maximize employee performance and contribute to the efficiency and profitability of a farm business. 

Marketing Management: Understanding customer needs by strategically positioning and promoting products and services in the market. 

Marketplace: The economic environment or space where firms engage in the production, exchange, and sale of goods and services. 

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Lesson 1.1 Vocabulary Terms

Professional Development: The continual improvement of knowledge and skills to advance in a career and enhance job performance. 

Supply Chain Management: Considers supply and demand needs by coordinating the production of goods and services while organizing their storage and transportation. 

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Responsibilities of a Farm or Agribusiness Manager

Long-range planning
Controlling
Coordinating
Supervision
Community relations
Monitoring

Explain

Long-range planning: Managers occupying executive positions are frequently involved in strategic planning and development.

Controlling: Managers evaluate and take corrective action concerning the allocation and use of human, financial, and material resources.

Coordinating: Managers often must coordinate the work of others both inside and outside the firm.

Supervision: Managers continually oversee the work of their employees.

Community relations: Contact must be maintained and nurtured with representatives from various constituencies outside the firm, including state and federal agencies, local civic groups, and suppliers.

Monitoring: Managers are involved in planning, scheduling, and monitoring the design, development, production, and delivery of the organization's products and services.

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Management Hierarchy

As managers progress in the hierarchy, they take on more responsibilities of greater difficulty

Attribution: Copyright Rice University, OpenStax, under CC-BY 4.0 license

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Types of Managerial Skills

Technical Skills
Human Relations Skills
Conceptual Skills

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Skills Required for Management Levels

Attribution: Copyright Rice University, OpenStax, under CC-BY 4.0 license

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Expand/Elaborate Activity Instructions

Call and interview a farm and agribusiness manager in the community to collect the following information:

Roles and responsibilities of the farm and agribusiness manager.
Level of management hierarchy the farm and agribusiness manager belongs to.
Skills possessed by the farm and agribusiness manager they consider essential to their success. Categorize each skill.
How continuous learning and professional development impact their role as a farm and agribusiness manager.

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Evaluate

Create a job description for a farm and agribusiness manager according to the criteria listed in the Farm and Agribusiness Manager Job Description Rubric in your Student Workbook.

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Lesson 1.2�Farm and Agribusiness Management Firms

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Learning Targets

Differentiate between common types of firms.

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Essential Question

Do farm and agribusiness firms follow identical structures?

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Engage

What do you already know about farm and agribusiness firm structures?

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Explore Activity Instructions

Record the Vocabulary Term definitions (on the next slides) in your Student Workbook.
Whiteboard Game.

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Lesson 1.2 Vocabulary Terms

Buyer Cooperative: A group of cooperative members who join to gain more purchasing power.

Cooperative: Formed by people with similar interests for the common goal of reducing prices and gaining economic power. Profits are distributed between all members/owners, limiting personal liability.

Corporation: A single, legal entity that is owned by shareholders and governed by an elected board of directors who have no personal liability.

Joint Venture: Two or more companies that join, while maintaining their individual identities, for a specific project and time.

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Lesson 1.2 Vocabulary Terms

Limited Liability Company (LLC): An organization that offers liability protection and combines the characteristics of a corporation and partnership.

Partnerships: A business that is run by two or more people who are personally liable for all debts.

Seller Cooperative: Individual producers who join to compete with larger producers.

Sole Proprietorship: A business that is run by a single person who is personally liable for all debts.

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Types of Farm and Agribusiness Firms

Sole Proprietorship
Partnership
Corporation
Limited Liability Company (LLC)
Cooperative

Explain

These are the five main types of Farm and Agribusiness Firms.

Sole Proprietorship – A business that is run by a single person who is personally liability for all of the debts.

Partnership - A business that is run by two or more people who are personally liable for all debts.

Corporation – A single, legal entity that is owned by shareholders and governed by an elected board of directors who have no personal liability for the business.

Limited Liability Company (LLC) – An organization that offers liability protection and combines the characteristics of a corporation and partnership.

Cooperative - Formed by people with similar interests for the common goal of reducing prices and gaining economic power. Profits are distributed between all shareholders based on the level of their involvement. There is limited personal liability.

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Firm Characteristics

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Expand/Elaborate Activity Instructions

Join your assigned partner.
Research the agribusiness you were assigned and determine what type of firm it is.
Write findings in your student workbook.
Share findings with class.

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Evaluate

What do you know about farm and agribusiness firm structures?

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Lesson 1.3 �Decisions, Decisions

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Learning Targets

Explain the decision-making process.

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Essential Question

How does the decision-making process impact farm and agribusiness management?

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Engage

When is the last time you had to make a decision? What helped you make your decision?

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Explore Activity Instructions

Join your assigned partner.
Research the “Decision-Making Process” in 5 minutes.
Share your findings with the class.

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Lesson 1.3 Vocabulary Terms

Decision-Making Process: The cognitive process of drawing conclusions or making decisions.

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The Decision-Making Process

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Considerations when Making Decisions

Importance: Does it align with goals?
Frequency: How often is decision made?
Imminence: How soon is decision made?
Revocability: Can decision be reversed?
Alternatives: Are there other options?

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Tips when Making Decisions

Lower the number of decisions
Compare alternatives by collecting data
Prioritize

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Example of the Decision-Making Process

A farmer's field of soybeans is hit with hail at the beginning of May. What is the best thing for the farmer to do?

Define the Problem
Gather Information
Evaluate Alternatives
Make Decisions
Take Action
Review Decisions

Explain

Identify the Problem: The soybean field was hit with hail. Soybean yield was affected.
Gather Information: The farmer has several options: replant, file a crop-hail claim, or wait it out and hope for the best. Replant: Will have undamaged soybeans but will have to be harvested later. File Crop-Insurance Claim: Might be eligible to receive a premium from the insurance company, but it may not get as much from insurance as a regular crop would be worth. Wait it out and hope for the best: The soybean crop may recover, but it may not.
Evaluate Alternatives: What are we hoping to gain? Financial stability. Which option would be the best to gain financial stability? (Answers may vary.)
Make Decisions: Choose one of the options. (Answers may vary depending on student's opinions.)
Take Action: What will you need to do? (Examples: buy seed and replant, file an insurance claim, wait and see).
Review Decisions: How did this decision affect the farm and profitability? What did we miss out on from other alternatives? (Answers may vary.)

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Expand/Elaborate Activity Instructions

Open Student Workbook.
Complete the decision-making scenario.

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Evaluate

Create a scenario based on a decision a farm or agribusiness manager may need to make. Then, apply the decision-making process to the scenario.

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Lesson 1.4 �Setting Goals

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Learning Targets

Explain the importance and purpose of setting goals and objectives.
Identify the three types of goals.
Discuss goals farm and agribusiness managers may set.

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Essential Question

What role do goals and objectives play in farm and agribusiness management?

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Engage

What are two goals that you have?

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Explore Activity Instructions

Find the definition of your assigned vocabulary term.
Write the definition in your own words.
Swap terms with someone who has the other vocabulary term.

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Lesson 1.4 Vocabulary Terms

Goal: Specific statements that describe what a person or business wants to achieve after a set period of time.

Objective: Specific steps created to achieve a set goal.�

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Why set Goals?

To achieve personal or business success.
Map out the future.
Hold yourself accountable.

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Types of Goals

Short Term

Achievable in the next year

Intermediate Term

Achievable in 1-10 years

Long Term

Achievable in 10 or more years

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SMART Goals

S- Specific
M- Measurable
A- Achievable
R- Relevant
T- Time Bound

Attribution: Photo by Waewkidja on Freepik https://www.freepik.com/free-photo/hand-writing-definition-smart-goal-setting-notebook_1147905.htm#fromView=search&page=1&position=3&uuid=55789907-5131-4dc8-b83c-e38c847ac3d2

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Smart Goals Video

Attribution: Two Minute Classroom on YouTube https://www.youtube.com/watch?v=i0QfCZjASX8

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Objectives for Goals

Objectives create steps toward accomplishing goals.
Objectives make goals manageable.

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Expand/Elaborate Activity Instructions

Complete the Expand/Elaborate section of your Student Workbook.

Rewrite your two original goals in SMART goal structure.
Create 3 objectives for each goal.

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Evaluate

Complete Farmer Dave's Goal Scenario in your Student Workbook.

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Lesson 1.5 �Technological Advancements in Farm and Agribusiness Management

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Learning Targets

Discuss how technological advancements and a dynamic marketplace in agriculture impact farm and agribusiness management.

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Essential Question

How do technological advancements impact the management of farms and agribusinesses?

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Engage

What do you picture when you hear “technology in agriculture?”

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Explore Activity Instructions

Join your assigned group.
Receive your assigned vocabulary term.
Research your vocabulary term and find its:
Definition
Example
Share your term, definition, and example with the class.

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Lesson 1.5 Vocabulary Terms

Automation : Technology that reduces the need for human involvement.

Precision agriculture: A management system in agriculture that uses information technology to make specific decisions that decrease inputs and increase productivity.

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Lesson 1.5 Vocabulary Terms

Sustainability: The ability to create balance between maintaining a healthy environment, economic viability, and healthy social systems/community development.

Technological Advancements: Changes in products and services that make them more precise and efficient, usually through scientific advancement.

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Rural to Urban Migration

1900 - 40% farming, 60% rural
2024 - 1.3% farming, 20% rural
Larger farms, less farmers
Technology increases efficiency

Attribution: USDA Census of Agriculture on Food and Agriculture Economist

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Technological Advancements

GMOs and New Crop Varieties
Biodiesel and Ethanol
Livestock Genetics
GPS and Precision Agriculture
Drones

Attribution: Photo by David Henrichs on Unsplash. https://unsplash.com/photos/shallow-focus-photography-of-quadcopter-72AYEEBJpz4

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Information Systems in Agriculture

Crop Production

Large scale and by acre (specific data)

Livestock Production

Genetic information, livestock identity trackers

Financial Data

Improve accounting

Explain

Crop Production - GPS systems store information and allow farmers to analyze data about yield and other information collected by GPS.

Livestock Production - Improved record keeping allows for better tracking of expected progeny differences and other genetic information such as pedigrees. Tracking technology examples include neck collars, ear tags, and identification implants. These allow for better tracking and collecting of information on animals. Some tracking devices will track feed rations, growth rates and other wanted information.

Financial Data - Applications and programs that track purchases and organize them into an accounting system. These online or offline databases make the lives of farm and agribusiness managers easier because data is organized and easily accessible.

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Consumer Demand

Consumers desire sustainable products
Quality Products
Specialty Products

Economic

Social

Environmental

Sustainability

Explain

Sustainability - This is a buzzword that is tossed around a lot, however not many people know what it means. The general idea is that it is the balance between economic viability, protecting the environment, and supporting social efforts. For something to be considered sustainable, it must support all three of these components.

Quality Products - Consumers want to purchase the same quality product every time they go to the store. This is why the USDA sets standards for grading products. For livestock, they want the same size of product at the same quality. For example, beef is graded as Prime, Choice, Select, Standard, Commercial, Utility, Cutter, and Canner. These grades affect where the meat will end up in the production cycle so that consumers get the same or very similar product in their cart every time. This applies to both the livestock and crop production industry.

Specialty Products - Some consumers have specific wants and needs for their products. These desires develop new revenue opportunities for many farm and agribusiness managers. Some of the more recent examples of these include organic, extra-lean meat, specialty fruits or vegetables, and markets where products are sold directly to the consumer.

Meeting consumer demand is a hefty task, however farm and agribusiness managers can take advantage of emerging markets. Additionally, meeting consumer demand is required for producers to succeed.

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Expand/Elaborate Activity Instructions

Join your assigned group.
Select one local farm or agribusiness.
Identify technological advancements currently used.
Predict future technological advancements or make recommendations for the firm.
Share with the class.

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Evaluate

Complete the Technological Advancement Essay in the Student Workbook.

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Lesson 1.6 �Economics of Farm and Agribusiness Management

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Learning Targets

Analyze the principles of supply and demand in farm and agribusiness management.
Synthesize understandings of buyer-seller relationships in farm and agribusiness.

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Essential Question

How do the principles of economics apply to farm and agribusiness management?

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Engage

How does the availability of a particular agricultural product affect its price in the market?

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Explore Activity Instructions

Receive your I Have – Who Has card.
One student will read their card.
The rest of the class will determine if their I Have (term) matches the first student’s Who Has (definition).
Repeat until all cards have been read.

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Lesson 1.6 Vocabulary Terms

Buyer: Individual or group that acquires goods and services in exchange for money. 

Commodity: Raw agricultural materials that are bought and sold. 

Consumer: Individuals or groups that buy and access goods and services. 

Demand: The quantity of goods and services that consumers are willing and able to buy at different prices at specific time periods. 

Demand Curve: Illustrates the relationship between the number of consumers willing to purchase a product and the price of the product. 

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Lesson 1.6 Vocabulary Terms

Economics: The study of how individuals make choices to allocate limited resources to satisfy their wants and demands. 

Equilibrium: State in which supply of a good or service equals the demand for that good or service in the market. 

Expense: Costs incurred while producing goods and providing services. 

Good: Tangible items that are produced to be bought and sold later. 

Producer: Individuals or groups that make goods or provide services. 

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Lesson 1.6 Vocabulary Terms

Product: Anything that can be offered to a market to satisfy demands. 

Profit: Financial gain when the generated revenue exceeds expenses. 

Revenue: Financial gain generated from the sale of goods and services. 

Seller: Individual or group that offers goods and services in exchange for money. 

Service: Intangible activities performed to meet demands. 

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Lesson 1.6 Vocabulary Terms

Shifter: Factors that impact (or shift) supply and demand for products. 

Shortage: Occurs when the quantity demanded for a good or service exceeds the quantity supplied. 

Supply: The quantity of goods and services that producers are willing and able to provide for sale at different prices at specific time periods. 

Supply Curve: Illustrates the relationship between the quantity of a product available and the price of the product. 

Surplus: Occurs when the quantity supplied for a good or service exceeds the quantity demanded. 

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Lesson 1.6 Vocabulary Terms

Yield: Measurement of the amount of agricultural products grown and produced per unit of harvested area.

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Supply and Demand Curves

Price ($)

Quantity

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Shortage, Surplus, and Equilibrium

Price ($)

Quantity

Supply

Demand

Equilibrium

Surplus

Shortage

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Shifters of Supply and Demand

Supply

Input Prices
Technology
Competition
Futures Prices
Weather
Number of Producers

Demand

Tastes and Preferences
Price Complements and Substitutes
Income
Futures Prices
Population

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Demand Curve Shifts�when the Supply Curve is Constant

Price ($)

Quantity

S

D1

D2

Price ($)

Demand Curve Shifts Right

Demand Curve

Shifts Left

P1

P2

Price

Increases

P1

P2

Price

Decreases

What happens when more consumers prefer a specific product, causing demand to increase?

What happens when a population decreases, causing demand to decrease?

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Supply Curve Shifts�when the Demand Curve is Constant

Price ($)

Quantity

S1

D

Price ($)

Supply Curve Shifts Right

Supply Curve

Shifts Left

P1

P2

Price

Decreases

P1

P2

Price

Increases

What happens when the weather improves,

causing an increase in production and supply?

What happens if input costs increase, causing a decrease in production and supply?

S2

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What happens when both supply and demand curves shift?

Attribution: Economics Mafia on Youtube https://www.youtube.com/watch?v=OmHmDpXXNVM&t=4s

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Expand/Elaborate Activity Instructions

Join your assigned group.
Receive your assigned commodity scenario.
Determine the outcome of the scenario (supply, demand, and/or price increases, decreases, or remains the same).
Illustrate graphs of the scenario.
Share with the class.

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Evaluate

Complete the Supply and Demand Curve Assessment in your Student Workbook. Then, turn it in to the instructor.

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Resources

Barnard, F., Akridge, J., Dooley, F., & Foltz, J. (2012). Agribusiness management. Routledge.

Bright, D. S., Cortes, A. H., Hartmann, E., Parboteeah, K. P., Pierce, J. L., Reece, M., Shah, A., Terjesen, S., Weiss, J., White, M. A., Gardner, D. G., Lambert, J., Leduc, L. M., Leopold, J., Muldoon, J., & O’Rourke, J. S. (2019). Principles of management. OpenStax, Rice University.

Economics Mafia. (2015, January 28). Shifting of demand and supply curves (Part II) [Video]. YouTube. https://www.youtube.com/watch?v=OmHmDpXXNVM

Jobes, R. A., Steward, J., Casey, J. E., & Bangert, L. (2017). Farm and ranch business management: An introduction to sound management practices. Deere & Company, Litho in U.S.A.

Kay, R. D., Edwards, W. M., & Duffy, P. (2012). Farm management (7th ed.). McGraw-Hill.

McEachern, W. A. (2017). Econ micro (5th Ed.). Cengage Learning.

National Agriculture in the Classroom. (2024, February). Supply and demand: What if? https://agclassroom.org/matrix/lesson/615/

Shapiro, D., MacDonald, D., Greenlaw, S. A., Dodge, E., Gamez, C., Jauregui, A., Keenan, D., Moledina, A., Richardson, C., & Sonenshine, R. (2022). Principles of microeconomics (3rd ed.). OpenStax, Rice University.

2 minute classroom. (2020, December 31). How to set SMART goals [Video]. Youtube. https://www.youtube.com/watch?v=i0QfCZjASX8

Henrichs, D. (2017, October 2). [Drone]. Unspalsh. https://unsplash.com/photos/shallow-focus-photography-of-quadcopter-72AYEEBJpz4

Lusk, J. (n.d.). Number of farms and farm size over time [Chart]. http://jaysonlusk.com/blog/2016/6/26/the-evolution-ofamericanagriculture#:~:text=In%201900%2C%20just%20under%2040,to%201940%20(figure%201).

�Waswkidja. (n.d.). Smart goal illustration [Image]. Free Pik. https://www.freepik.com/free-photo/hand-writing-definition-smart-goal-setting-notebook_1147905.htm#fromView=search&page=1&position=3&uuid=55789907-5131-4dc8-b83c-e38c847ac3d2

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This material is based upon work supported by USDA/NIFA under Award Number 2021-70027-34694.

Donavan Phoenix, Jenna Knake, Emily Samuelson, Elliott Dennis, & Jay Parsons

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The University of Nebraska does not discriminate based upon any protected status. Please see go.unl.edu/nondiscrimination. �©2023. The Board of Regents of the University of Nebraska. All rights reserved.