concept

Question 1

No industry could be more important to human survival than

Answer 1

Agribusiness.

Question 2

Media has
extensively used agribusiness in its report, probably as a result efforts of
government to develop the agricultural sector. This, in turn generated a
stronger public interest in agribusiness. However, certain reports and public perceptions tend to equate agribusiness with farming (i.e., Agri-
Business)

Answer 2

Agribusiness is agricultural production through farming

Question 3

Having originated from the West, where
agribusiness is primarily composed of large off-farm corporations,
Agribusiness has always been associated with the big businesses. Some
sectors have thus accused agribusiness of being anti-farmers, concluding
that it is in appropriate in developing countries where small farmers
predominate

Answer 3

Agribusiness is a Big-Business

Question 4

While agribusiness
is primarily a private sector undertaking, there is a misconception that it
is limited to profit-seeking organizations. Hence, some people could not
seem to appreciate the utility of the agribusiness concept in rural
development projects implemented by the public sector for the welfare
of rural communities.

Answer 4

Agribusiness is purely a private sector undertaking

Question 5

Agribusiness is founded on
management and is NOT limited to conducting feasibility studies.
Management is an integrative field of study that draws concepts from
different disciplines like economics, psychology, sociology, statistics,
mathematics, political science, and engineering, among others. In
addition, Agribusiness management also integrates the relevant aspects
of agricultural disciplines such as horticulture, agronomy, animal science,
plant protection, aquaculture, and forest science.

Answer 5

Agribusiness Management as a field of study is basically known as how
to conduct project feasibility studies

Question 6

4 common myths or misperceptions about Agribusiness.

Answer 6

Agribusiness is agricultural production through farming
Agribusiness is a Big-Business
Agribusiness is purely a private sector undertaking
Agribusiness Management as a field of study is basically known as how
to conduct project feasibility studies

Question 7

The term Agribusiness was first used in

Answer 7

1957 by John Davis and Ray Goldberg of
Harvard University

Question 8

The term Agribusiness was first used in 1957 by John Davis and Ray Goldberg of
Harvard University in their book,

Answer 8

“A Conception of Agribusiness.”

Question 9

The term Agribusiness was first used in 1957 by John Davis and Ray Goldberg of
Harvard University in their book, “A Conception of Agribusiness.” Process-wise,
they defined Agribusiness as:

Answer 9

“The sum total of all operations involved in the manufacture and distribution of
farm supplies; production activities on the farm; and the storage, processing,
and distribution of farm commodities and items made from them”

Question 10

Other definitions of Agribusiness are:

Answer 10

“Agribusiness includes the total input-farm-product sectors that supply farm
inputs; are involved in production; and finally, handle the processing,
distributing, wholesaling, and retailing of the product to the final customers”
(Downey and Trockle, 1987)

Agribusiness is the coordinating science of supplying agricultural production
inputs and subsequently producing, processing, and distributing food and fiber
(Roy 1977)

Question 11

“Agribusiness includes the total input-farm-product sectors that supply farm
inputs; are involved in production; and finally, handle the processing,
distributing, wholesaling, and retailing of the product to the final customers”

Answer 11

(Downey and Trockle, 1987)

Question 12

Agribusiness is the coordinating science of supplying agricultural production
inputs and subsequently producing, processing, and distributing food and fiber

Answer 12

(Roy 1977)

Question 13

In order to better understand Agribusiness, we need to consider what
differentiates it from other business sectors. In their book,

Answer 13

titled Agribusiness
Management, W. David Downey and John K. Trockle

Question 14

DISTINCTIVE FEATURE OF AGRIBUSINESS MANAGEMENT

Answer 14

1. Tremendous variety on the kinds of business in the Agribusiness
   sector;
2. Sheer number of agribusiness
3. The way in which basic agribusiness is built around several million
   farm producers
4. Infinite variety in size of agribusiness,
5. Agribusiness are small and compete in a relatively free market in
   which there are many sellers and fewer buyers.
6. Many agribusiness worker exhibit a traditional philosophy of life,
7. Agribusiness firms tend to be family-oriented.
8. Agribusiness tend to be community-oriented.
9. Agribusinesses, even those that are industrial giants, are likely to be
   highly seasonal in nature.
10. Agribusiness deal with the vagaries of nature.
11. Government programs and policies have direct impact on
    agribusiness.
12. Agribusiness as a structure, sector, system, and field of study.
    Agribusiness structure

Question 15

The scope of the blank is composed of the whole of the
agriculture sector (including forestry and fishery);

Answer 15

Agribusiness sector

Question 16

As an

Answer 16

open system,

Question 17

is composed of the input,
farm/production, processing, marketing, and support subsystems.

Answer 17

Agribusiness

Question 18

Agribusiness is composed of the

Answer 18

input,
farm/production, processing, marketing, and support subsystems.

Question 19

The
Oxford English dictionary defines a system as a

Answer 19

“set or assemblage of
things connected, or interdependent, so as to form a complex unit;

Question 20

The agribusiness system is composed of the following interdependent
subsystems:

Answer 20

Input subsystem.
Farm Production subsystem.
Processing subsystem.
Marketing subsystem.
Support subsystem.

Question 21

This encompasses all government and non-government agencies, education/research institutions, industry
associations, financing institutions, international organizations, and
other entities that directly or indirectly affect the agribusiness system
through the provision of the necessary logistics, coordination,
financing, human resources, technology, information, policies,
programs, incentives, and other services to the system.

Answer 21

Support subsystem.

Question 22

This is composed of all individuals and firms(e.g. assemblers, wholesalers, retailers, exporters, importers),
involved in the distribution of agro-based products. Marketers usually
have direct links with the end consumers.

Answer 22

Marketing subsystem.

Question 23

This covers all firms engaged in the primary
and final transformation of the raw materials output. Considering the
perishable nature of agricultural products, the role of storage and
processing in agribusiness could not be overemphasized.

Answer 23

Processing subsystem.

Question 24

This consists of all individuals and
enterprises engaged in the production and propagation of animals and
animal products, plant products, forest and forest products, and even
aquatic products for direct consumption and/or as intermediate
products for processing.

Answer 24

Farm Production subsystem.

Question 25

This is composed of firms that provide the farm
production sector with feeds, seeds, fertilizers, machinery,
chemicals, and other inputs needed for operation. It also includes
human and animal resources.

Answer 25

Input subsystem.

Question 26

Note:

Answer 26

The viability of the whole agribusiness system depends on the
vitality of each subsystem, the synchronized operation of the subsystems,
and its ability to adapt to the changes in the environment.

Question 27

As a field, Agribusiness is founded on

Answer 27

management.

Question 28

Given the unique characteristics of Agribusiness relative to other
businesses, the performance of the

Answer 28

Agribusiness Manager

Question 29

From the previous discussions, we have learned that the agribusiness
system covers all those working in the

Answer 29

input, farming, processing, and
distribution sectors.

Answer 30

Anybody who manages, the production, marketing,
financial, and human resource aspects of the agribusiness system can be
considered as an agribusiness manager.

Question 31

Agribusiness covers a relatively a

Answer 31

large scope.

Question 32

It can be viewed as

Answer 32

It can be viewed as

Question 33

As a field of study, it is
anchored on

Answer 33

management.

Question 34

which is one of
simplest definition of management, also encapsulates the essence of being an
agribusiness manager.

Answer 34

“Doing things through other people,”

Question 35

A general picture
of a manager’s job has been describe as

Answer 35

“creating an environment wherein
groups of people can work effectively for the attainment of organizational
goals.”

Question 36

Some authors have described it in terms of the hats
worn by a

Answer 36

manager–leader, administrator, figurehead, decision-maker,
entrepreneur, and information disseminator, among others.