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AGBU 3361 EXAM WITH COMPLETE SOLUTIONS 100% CORRECT

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AGBU 3361 EXAM WITH COMPLETE SOLUTIONS 100% CORRECT...

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  • January 8, 2025
  • 24
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers
  • AGBU 3361
  • AGBU 3361
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AGBU 3361 EXAM WITH COMPLETE SOLUTIONS 100% CORRECT



Agribusiness management: - ANSWER Management of any firm involved in the food
and fiber production and marketing system.



Functions of agribusiness management - ANSWER Marketing Management

Functional Management

Supply chain management

Human resource management



Marketing management: - ANSWER involves understanding customer needs and
effectively positioning and selling products and services in the marketplace.
(Understanding customer needs and effectively positioning and selling products and
services in the marketplace)



Decisions for marketing management - ANSWER What product/service/information to
provide? What price to charge?

How to distribute the product?

How to promote the product?



Financial management: - ANSWER involves managing the financial resources of the
firm in order to achieve a profit. This includes generating data for making good
decisions, analyzing alternatives and managing assets, liabilities and owners'
investment in the firm. (Managing the assets, liabilities, and owner's investment in the
firm; generating the financial data required to make decisions, and using the tools of
finance to make effective decisions.)



Tools of financial management - ANSWER Budgeting

Ratio analysis

Forecasting

,Breakeven analysis



Supply chain management: - ANSWER involves the production and distribution of
products in the firm. (Managing the complete input acquisition and output distribution
channels for a firm)



Operations management: - ANSWER focuses on the direction and control of the
processes used to produce goods and services



Logistics management: - ANSWER focuses on the activities involved in storing and
transporting goods and services from manufacturer to buyer



Human resource management: - ANSWER involves managing the human side of the
business, both the mechanics of personnel administration as well as the finer points of
motivating people to offer and contribute their maximum potential. (Acquiring,
organizing, motivating, leading, and managing the firm's people resources to
accomplish its business objectives as effectively as possible)



Decisions of Human resource management: - ANSWER How to organize the firm?

Where to find people?

How to hire them?

How to compensate them?

How to evaluate them?



Food sector - ANSWER Food processing and manufacturing

Food wholesaling

Food retailing

Transportation and storage firms:



Food processing and manufacturing: - ANSWER Meat processing is the largest
component

, Examples include meatpackers, bakers, millers, wet corn processors, cereal
companies, brewers, snack firms, tanneries



Food wholesaling: - ANSWER Merchant wholesalers

General line distributors

Specialty distributors

Miscellaneous distributors

Manufacturers' sales branches and offices

Wholesale agents and brokers



Food retailing: - ANSWER Supermarket

Superstore

Convenience store

Warehouse club stores

Supercenter



Food service: - ANSWER Traditional restaurants

Fast food/quick service

Institutional food service



Transportation and storage firms: - ANSWER Acquire or assemble commodities from
agricultural producers, and store/transport these products for food manufacturing and
processing firms

From local grain cooperatives to grain handling giant Cargill



Input supply sector - ANSWER Input manufacturing

Input distribution

Services and financing

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