FBMT 2162 Refining Farm System Management

Description

Refining Farm System Management enables the student to develop and implement a comprehensive farm business strategic plan. The student will use the components of the Farm Business Management Program to develop and support a strategic plan.

Management Credits

4

Topics to be Covered

1. Business and non-business inventory

2. Types of data

3. Financial accounting system

4. Business projections

5. Current farm system related issues

6. Personal and managerial inventory

7. System for monitoring system

8. Historical farm data

9. Business and personal goals

10. Income statement

11. Balance sheet

12. Business ratios

13. Enterprise information

Learning Outcomes

1. Evaluate strategic opportunities for current and new enterprises

2. Evaluate business structure and ownership opportunities

3. Create accurate enterprise budgets

4. Evaluate financial ratios

5. Prioritize strategies to improve enterprise trend direction

6. Formulate strategies to improve new and existing enterprise trend directions

7. Assess a farm business risk management plan

8. Evaluate emerging technologies

9. Inventory existing technologies utilized within the farm business

10. Prioritize future technology needs

11. Evaluate benchmark trends

12. Develop a strategic farm business management plan