Farm management is the branch of agricultural business study concerned with running farms, ranches and similar enterprises as viable operations. It covers the specific agricultural techniques a farm uses alongside business management, accounting, taxation, capitalization and purchasing decisions, and extends to government programs and regulations, operational planning and budgeting, contract negotiation and estate planning. The field treats a farm as an economic enterprise that must be planned and administered rather than only worked, applying business discipline to production decisions that farmers once made by custom alone.
Facts
Central QuestionHow can a farm, ranch or similar enterprise be run to maximize profit while satisfying its customers, given the specific agricultural techniques, accounting, taxation and business choices open to its manager? 1 Sources
1. Agribusiness (Wikipedia)
Wikimedia FoundationLead section (Agribusiness article)Quote, Lead section (Agribusiness article)
The primary goal of agribusiness is to maximize profit while satisfying the needs of consumers for products related to natural resources.
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