Agribusiness is the business of agricultural production considered as an integrated commercial system, spanning the input suppliers, farm operations, processing, distribution and marketing that together bring a farm product to market, and, more narrowly, the term for a large-scale commercial farming or agricultural-trading corporation itself. Its growth through the twentieth century, alongside contract farming and vertical integration, concentrated much of the food system's economic decision-making in large firms rather than in the individual farm.
Facts
Origin YearThe earliest recorded use of the word itself was in the Canadian Almanac & Directory in 1847, but the term as an economic concept is credited to Davis and Goldberg's 1957 coinage. Classification
Concept ClassAgricultural Production Systems and Economics 1 Connections
Associated With
In Discipline
Sources
1. Agribusiness (Wikipedia)
Wikimedia FoundationEvolution of the agribusiness concept section
Although most practitioners recognize that it was coined in 1957 by two Harvard Business School professors, John Davis and Ray Goldberg after they published the book "A Concept of Agribusiness."
lead description (concept-class)
Agribusiness is the business of agricultural production considered as an integrated commercial system, spanning the input suppliers, farm operations, processing, distribution and marketing that together bring a farm product to market, and, more narrowly, the term for a large-scale commercial farming or agricultural-trading corporation itself.
View the Source Reader Challenges (0)
No disputes yet. Spotted an error or a better source? Open the first one.
Sign in to dispute this or suggest a correction.