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A comprehensive treatment of farm business and control, with many examples drawn from farming practice.
Introducing students to the key concepts on how to effectively manage a farm business, this title provides students with the basic information needed to measure management performance, financial progress, and the financial condition of the farm business.
Although there are many motives for farming, the achievement of a worthwhile financial return, coupled with a good standard of living, ranks high among them. This implies the need for sound business organisation - the more so as holdings become larger, more specialised and more capital intensive. The present book offers a comprehensive treatment of farm business organisation and control. Although designed primarily as an intermediate text for students in universities and agricultural colleges, it is of interest and value to all those concerned with farm business, including business advisers, land agents, accountants and bank managers. The book's wide coverage is made possible by a mainly non-mathematical presentation coupled with a liberal use of examples drawn from farming practice. The book is divided into four parts: the organisation of resources, the organisation of enterprises, the combination of enterprises and the control of resources and enterprises. The overtaking theme is that, in order to make the most economic use of the resources at his disposal, the farmer has to decide what resources to use, how to organise their use within individual enterprises and how to combine the enterprises into an integrated farming system. Lastly, if these efforts are not to be largely wasted, he must initiate the keeping of suitable records to provide both planning data and a system of checks and controls when his plans are put into practice.
Designed to teach the farm managers of tomorrow, Farm Management emphasizes the strategic and operations aspects of managing a farm. Today’s farm managers will want to consult it as well to improve the effectiveness, objectivity, and success of their decisions. This innovative textbook is framed by the increasing need for farmers to develop and follow a business plan. Topics not found in traditional farm management texts include: Strategic management; How to evaluate, choose, and implement the business strategies that best fit the farm and the farmer; Production and operations planning; How to benefit from techniques and management tools used in general business; Quality management and control that will decrease costs and meet consumer demands; Production contract evaluation; Decision making beyond the traditional microeconomic analysis: decision making under risk and the development of scenarios to understand the impact of an uncertain future. Fundamental farm management topics and basics are not ignored in this all-inclusive text. Traditional material includes budgeting, marketing, enterprise selection, production planning, financial analysis, financial management, investment analysis, risk management, work force management, business organization, and control management. Student learning will be enhanced by review questions and a glossary in the book. Other ancillary material: study notes, virtual field trips, a test bank, class assignments, instructions on how to produce local examples to complement the examples in the text, and worksheets for students are available on the author’s website or on a CD-ROM.
Farm Planning with Linear Programming: Concept and Practice focuses on concepts and methods in farm planning. The book first discusses the principles of farm planning, including elements of farm planning problems, summary, and review questions. The text highlights farm planning models. The nature of models; commonly used farm planning models; multiple constraint problems and program planning; problems in applying models; and comments are considered. The book also focuses on the linear programming network; opportunity cost and the simplex method; and analysis of the linear programming solution. The text also explains tableaux construction for short-run planning. Crop and pasture rotations; feed budgeting; buy, sell, and hire activities; and livestock reconciliation are discussed. The book also describes pastoral property applications. Breed comparison; economics of off-farm grazing and spatial diversification; and optimal calving date and lactation length on dairy farms are discussed. The text is a good source of information for agricultural researchers, farmers, and students wanting to study farm management.
Farm managers will appreciate this book as they learn the principles of farm management; from the basics of management and economics; to the details of strategy and operations. It presents economic concepts, such as the discussion of markets, competitive forces, and macroeconomics, which is new to farm management texts. Material is included on strategy, marketing, budgeting, production and operations, quality, finance, investment, risk, contracts, staffing, business organisation, farm succession, and the future. Strategic management and quality management as well as new techniques and tools in production and operations management are also examined. This approach will help farm managers improve the efficiency, effectiveness, objectivity, and, ultimately, success of their decisions.