Chapter 2

Chapter 2 - Agribusiness Manager Successful Manager The...

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Unformatted text preview: Agribusiness Manager Successful Manager The History of Management In In early days, there was little need for management. -Societies were largely agrarian, businesses were primarily owner operated with relatively few employees. However, technological development in However, transportation and communication along with development in agriculture provided the basis for companies to grow. Management Management became a separate discipline in the 1930's. Although management is a separate discipline, it uses skills from a variety of disciplines including statistics, psychology, engineering, economics and accounting. Successful Managers Technically knowledgeable Products Services Effective leader Good communicator Everyone Especially firm workers firm workers Technical skills Business management Inventory management Accounting Forecasting Mix the right proportions --- Why management is an art supported by science 1 Agribusiness Management Management Management of Agribusinesses are particularly unique. Managers here not only have to deal with financial and personnel matters (including competition) but also worry about uncertain weather, disease, changes in technology, changes in government policies, plus the perishability of products. – Managers must have a strong understanding of the biological and institutional factors surrounding the production of food and fiber. – Managers must have an ability to adapt quickly to changes in market conditions that result from changes in government policies, weather, technology and international markets. Six Steps in Decision Making Problem Identification Following up Determining alternative Courses of action Implementing decision Analyzing alternatives Selecting best alternatives Four Functions of Management Planning Directing Dynamic Continuous Process Organizing Controlling 2 Planning Functions Objective Objective of planning: – Put firm in best possible position Relative Relative to future business conditions Customer Customer demands Planning Planning begins – – Developing organization Marketing plan Planning Functions Marketing Plan First First item: – Define firm’s purpose Second Second item: – Statement of firm’s objective Organizing Organizing Function Development Development of organizational scheme – Accomplish firm’s purpose & objective efficiently and effectively Selection Selection of legal structure – Sole proprietorship – Partnership – Cooperative or corporation 3 Controlling Function Concerned Concerned with giving management feedback – Firm’s progress towards Goals Goals set in planning Include Include measure – Individual’s progress – Progress entire departments and business Directing Function Implementation Implementation three management functions – Planning – Organizing – Controlling Successful Successful directing relies strongly – Good leadership skills to accomplish mission Success Success of directing function – Dependent on managers’ ability to motivate employees – Can not be a good manager before being a great leader Summary So So in our discussions that follow, management will be viewed as a process of four interrelated functions, planning, organizing, controlling and directing. Managers Managers must make plans for the future, develop organizations to carry them out, direct putting plan into action, and monitor or control the progress toward the objective. A major part of the manager's job is decision making. A sound major approach to decision making involves identifying the problem, determining alternatives, weighing the alternatives, selecting the best alternative, implementing the decision, and evaluating the decision. 4 Discussion Questions 1. Why is business management referred to as a profession rather than a discipline? What is the difference between a discipline and a profession? Business managers practice management just as a physician practices medicine or a lawyer practices law. Do you agree or disagree with this statement? Explain your answer. What is the difference between business management and leadership? Describe the decision-making process. decision- 2. 3. 4. Discussion Questions 5. 6. List the four functions of management and describe how they interact to permit a firm to succeed. Agribusiness management is described as a dynamic, continuous process. Do you agree or disagree? Explain your continuous process. Do you agree or disagree? Explain your answer. answer. What is the difference between efficiency and effectiveness? 7. 5 ...
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