MG502 Agribusiness Strategic Management
DESCRIPTION
This unit addresses issues that agribusiness managers face today and likely will face in future. It covers key components of agribusiness strategic management, with a focus on the management tools used to analyse business performance. This includes financial, marketing, production, and human resource management tools, decision making techniques, technology adoption, and management of risk. Students will gain skills in financial management, analysing the current state of a business using key financial statements and to evaluate alternative investment decisions. Analysing and interpreting financial information, budgeting, investment and finance decisions, valuation, and cost analysis under conditions of incomplete knowledge, risk, and uncertainty are central e mphases of this unit.
RELEVANT COURSES
Master of Agricultural Information Management
Master of Business Administration (Agribusiness)*
*Core unit
Elective unit
CREDIT POINTS
10
DELIVERY MODE
On campus
Intensive
Extensive
PREREQUISITE OR CO-REQUISITE
MG401 Leadership in Agribusiness
UNIT LEARNING OUTCOMES
LO1 Investigate and describe the management of food and agribusiness enterprises with respect to planning,
organising, directing, and controlling the functions of marketing, finance, supply/value chain and human resources
LO2 Demonstrate advanced critical knowledge of farm financial analysis, including the influence of physical, financial, and human resources
LO3 Critically evaluate managerial decision-making in an environment of increasing risk and uncertainty
LO4 Critique the key concepts of risk management with an understanding of physical and financial agriculture markets
LO5 Reflect on the impact of planning, decision making and risk taking on agribusiness
CONTENT
Agribusiness management – scope, functions, and tasks: the business of agribusiness; managing the agribusiness; economics for agribusiness managers
Strategic analysis – concepts and techniques: towards a holistic view of strategic management; strategic formulation, governance, and strategic decision-making; leadership and strategy; strategic choice and implementation
Strategic management of agribusiness – determinants and trends: managerial decision-making in an environment of increasing risk and uncertainty; developing and adopting technology and new innovations critical to long -term financial success; responding to industry structure changes, the competition landscape, and industry boundaries
Operations management for agribusiness: production planning and management; supply chain management for agribusiness; value chain management; risk management
Marketing management for agribusiness: strategic market planning; marketing mix; marketing decision tools for agribusiness; marketing risk
Cashflow management: monitoring cash flow performance; budget analysis; cash flow budget; financial risk
Human resource management for agribusiness: managing organisational structure; managing human resource in agribusiness; human resource management risk
Physical and financial agricultural markets: outlook of agricultural commodities markets; physical markets; actors in financial markets
Price risk management for agribusiness: market-based instruments for agricultural price risk management; assessing risk in rural value chains: agricultural risk mitigation
Financial management for agribusiness: understanding financial statements; analysing financial statements; assessment of profitability; financing the agribusiness
Role of technology in strategic management: case studies
Case study presentation
ASSESSMENT METHODS
1. Reading Reflections - 30%
2. Article Reviews - 30%
3. Group Case Study and Oral Presentation - 40% (20% is allocated for individual reflection + presentation)
PRESCRIBED READINGS
Nil
Check with the lecturer each semester before purchasing any textbooks.