The Economics Of Farm Management

Future farm managers need a range of tools and knowledge to run successful businesses, and this accessible textbook provides the required foundations from economics and management, applied to the farm context. In today’s world where farms are subject to ever-changing industrial, labor, demographic, and technological factors, this textbook provides a clear focus and methodology for business stability and growth. It covers core microeconomic and macroeconomic principles, plus the full range of management topics, from accounting and marketing to operations management and human resource management. It also covers family succession planning and farming mega-trends. This second edition has been updated with the latest data and literature, and gives deeper attention to sustainability and conservation. It also offers a broader range of examples, showcasing the diversity of farm types and farm sizes across the US and globally. Instructor materials are available as digital supplements. This textbook will be a valuable resource for courses in farm management, ranch management, agribusiness, and agricultural economics.

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.

In the tropics farmers have to work from a limited resource base which does not lend itself to highly productive crop and animal yields. The principles of farm management economics and the application of farm management analysis and planning can help small farmers in the tropics to produce 'a bit more' from their lots.

Whether you are working for government, an NGO or the private sector, if you are an agricultural extension worker who is trying to assist farmers in increasing the profitability of their farms, the material in this booklet should be of help to you.

"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"--Provided by publisher.

Designed for the one-semester introductory course in farm management, this text introduces students to basic business management concepts and shows how these can be applied to the management of farms and ranches. This new edition up-dates information on agriculture and farm management.