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Farm Business Management Final Exam Questions with Correct Answers 2025
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Farm Business Management Final Exam Questions with Correct Answers 2025
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Farm Business Management Final Exam Questionswith Correct Answers 2025
list the 4 functions of management - CORRECT ANSWER -planning, implementation, control, adjustment
list the 2 types of decisions - CORRECT ANSWER -strategic, tactical
describe planning - CORRECT ANSWER -choosing a course of action, policy, or procedure to: establish
goals, inventory resources; allocate resources, identify, analyze, and select alternatives
describe implementation - CORRECT ANSWER -acquire the resources needed to put a plan into action
describe control - CORRECT ANSWER -monitor the results, record information, compose results to a
standard
describe adjustment - CORRECT ANSWER -tweaking of the plan if results are not what was expected,
diagnosing why certain results were achieved and determine what changes need to be made
strategic decisions are (long term/short term) - CORRECT ANSWER -long term
tactical decisions are (long term/short term) - CORRECT ANSWER -short term
strategic decisions are deciding (what/how) to do something - CORRECT ANSWER -what
tactical decisions are deciding (what/how) to do something - CORRECT ANSWER -how
list the steps of strategic farm management - CORRECT ANSWER -define the business mission
formulate and prioritize goals
assess the resources of the business
survey the business environment
identify and select strategies
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