Economics of Farm Management

2018 ◽  
pp. 56-72
Keyword(s):  
Production Management ◽  
Farm Management ◽  
Management Decision ◽  
Entrepreneurial Spirit ◽  
Investment Opportunities ◽  
Management Decision Making ◽  
Working Together ◽  
Factors Of Production ◽  
Profit Maximisation

The concept of farm management can be defined as the organization of land, labour, capital, and management (decision-making and risk-taking) in operating a farm enterprise to meet the stated objectives including profit maximisation. Of the four fundamental factors of production, management stands out in its onerous role in organizing all the others in meeting the defined objectives of the enterprise. Onerous as the role of management as a factor of production is, it cannot work in isolation of the others. There is therefore a need to discuss farm management as a concept with due focus on the notion of entrepreneurial spirit and at the same time bring out the peculiar features of the factors of production in working together to maintain a going concern. It is against this background that this chapter discusses the concept of farm management. The specific objectives of the chapter include defining the meaning and scope of farm management, highlighting the resources available to the farm enterprise, highlighting the relevance of entrepreneurship behaviour and entrepreneurship spirit in growing an enterprise, and highlighting the importance of farm management. The methodology adopted is descriptive. It is argued in this chapter that present and prospective farm managers should essentially have entrepreneurial spirit with which to start, grow, and expand their enterprise in line with the objective of the enterprise in question. Searching out investment opportunities and effectively ploughing back profits on existing or new investments for expansion enterprise is one of the decisions of management.

scholarly journals Role of Drones in Modern Agricultural Applications

2020 ◽  
pp. 216-224
Author(s):  
Abdulgaffar Doddamani ◽  
Sabia Kouser ◽  
V. Ramya
Keyword(s):  
Regulatory System ◽  
Farm Management ◽  
Management Decision ◽  
Agricultural Field ◽  
Future Directions ◽  
Agricultural Applications ◽  
Management Decision Making ◽  
Paper Review ◽  
Crop Health

Unmanned aerial vehicles (UAVs) represent the technological advance used for precision farming. It provides high-resolution crop images and precise indices are implemented, valuable outputs are generated for farm management decision-making. The current paper review and addresses the different applications of UAVs in agricultural field. This paper provides the brief overview of the current drone technologies for agricultural applications, including crop health monitoring and farm operations. The new regulatory system is also deliberated, and its implications for use in agricultural. Also outlined the potential future directions for technology in agriculture and several instances are provided which are made possible through the use of UAVs in agriculture.

scholarly journals Economics of Digital Ecosystems

2020 ◽  
Vol 6 (4) ◽  
pp. 124 ◽  
Author(s):  
Sergey Yevgenievich Barykin ◽  
Irina Vasilievna Kapustina ◽  
Tatiana Viktorovna Kirillova ◽  
Vladimir Konstantinovich Yadykin ◽  
Yevgenii Aleksandrovich Konnikov
Keyword(s):  
Dominant Role ◽  
Management Decision ◽  
Digital Ecosystems ◽  
Distinctive Features ◽  
Economic Agents ◽  
Digital Ecosystem ◽  
Management Decision Making ◽  
Hierarchical Communication ◽  
Definition Of

This paper examines a new approach to defining digital ecosystems. Within the digital economy of ecosystems, competition is eliminated, and organizations form unions and alliances in order to work together and cooperate to reach a set goal. This means a digital ecosystem can be viewed as a complex environment in which organizations without any hard ties operate. Digital ecosystems differ from traditional ecosystems in many ways. The business organization of the latter is based on management decision making by people. This paper presents theoretical foundations for developing digital ecosystems based on a literary review. Based on the logic of scientific search using the keywords “ecosystem” and “biological ecosystem”, the commonality of the properties of the digital ecosystem and the biological ecosystem is shown. The aim of the study is to identify common characteristics in biological, economic and digital ecosystems in order to substantiate the possibility of using the same approaches for research and modeling of such systems. A definition of a digital ecosystem is proposed by the authors which points out the main features of this kind of system and highlights the dominant role of modern digital technologies in the formation of the digital ecosystem. The paper looks at the distinctive features of digital ecosystems and characteristics similar to the characteristics of biological ecosystems, such as ecosystem participants, presence of limiting impacts, lack of vertical hierarchical communication. The developed model can be used to model digital ecosystems. The authors believe that the emergence of a trend in the transformation of ecosystems in the direction of expanding the collaboration of economic agents is reasonable. At the same time, digitalization helps to replace competition with collaboration. The paper finishes with a discussion of the obtained results and a plan for further research.

scholarly journals Spatial analysis of yield monitor data: case studies of on-farm trials and farm management decision making

2008 ◽  
Vol 9 (5) ◽  
pp. 269-283 ◽  
Author(s):  
Terry W. Griffin ◽  
Craig L. Dobbins ◽  
Tony J. Vyn ◽  
Raymond J. G. M. Florax ◽  
James M. Lowenberg-DeBoer
Keyword(s):  
Decision Making ◽  
Spatial Analysis ◽  
Case Studies ◽  
Farm Management ◽  
Management Decision ◽  
Yield Monitor ◽  
Management Decision Making ◽  
On Farm ◽  
Monitor Data

scholarly journals The Role of Traditional Knowledge in Coastal Adaptation Priorities: The Pamunkey Indian Reservation

Water ◽  
2020 ◽  
Vol 12 (12) ◽  
pp. 3548
Author(s):  
Nicole S. Hutton ◽  
Thomas R. Allen
Keyword(s):  
Management Decision ◽  
Ecological Knowledge ◽  
Indian Reservation ◽  
Screening Process ◽  
Heritage Sites ◽  
Indigenous Groups ◽  
Management Decision Making ◽  
Federal Assistance ◽  
Tribal Council

Coastal reservations are increasingly vulnerable to hazards exacerbated by climate change. Resources for restoration projects are limited. Storm surge, storms, tidal flooding, and erosion endanger artifacts and limit livelihoods of tribes in coastal Virginia. GIS offers a platform to increase communication between scientists, planners, and indigenous groups. The Pamunkey Indian Tribe engaged in a participatory mapping exercise to assess the role of traditional ecological knowledge (TEK) in coastal management decision-making and its capacity to address flooding. Priorities and strategies were spatially referenced using maps of potential sea level rise for 2040, 2060, and 2080, input into a resilience matrix to identify benchmarks for each phase of disaster resilience building, and contextualized with oral histories. Results highlight increased immediacy to protect housing and heritage sites along the shoreline as well as maintain access to the Reservation. Preferences toward structural solutions guided by and facilitating TEK options were expressed. Additional community capacities, tribal council support, federal assistance, impact assessments, and coordination would facilitate risk reduction project implementation. The screening process integrates TEK with planning and is transferable to neighboring tribes.

scholarly journals Application of Type I and II Errors in Dairy Farm Management Decision Making

1991 ◽  
Vol 74 (3) ◽  
pp. 902-910 ◽  
Author(s):  
David T. Galligan ◽  
William Chalupa ◽  
Charles F. Ramberg
Keyword(s):  
Decision Making ◽  
Dairy Farm ◽  
Farm Management ◽  
Management Decision ◽  
Type I ◽  
Management Decision Making

scholarly journals Audit Internal dan Efektivitas Pengendalian Intern Penjualan

2018 ◽  
Vol 3 (3) ◽  
pp. 1-11
Author(s):  
Radhi Abdul Halim Rachmat ◽  
Ivan Gumilar Sambas Putra ◽  
Ii Halilah
Keyword(s):  
Decision Making ◽  
Statistical Analysis ◽  
Internal Control ◽  
Descriptive Analysis ◽  
Internal Audit ◽  
Management Decision ◽  
Internal Auditors ◽  
Management Decision Making ◽  
Operational Activities

Sales activity plays an important role and needs to be controlled because it affects to the revenue. Sales control requires sales analysis that reveal undesirable developments need to be corrected. Internal Auditors who are not directly involved in operational activities can, therefore, assess all activities. Internal Auditors also provides objective information regarding sales data that will be the basis for management decision making. The purpose of this study is to: determine whether the internal audit on sales activities conducted by the company has been done adequately; determine whether the internal control over sales has been implemented effectively; and determine the role of internal audit in supporting the effectiveness of internal control sales. The authors perform hypothesis testing by doing descriptive analysis and statistical analysis. Based on the results, the effectiveness of internal control can be explained by the Internal Audit role of 63.2%.

scholarly journals Optimization of the Process of Selection of Software in the Organization

2020 ◽  
pp. 12-22
Author(s):  
A. Yu. Lukyanenko
Keyword(s):  
Digital Economy ◽  
Management Decision ◽  
Scientific Article ◽  
Economic Activities ◽  
Negative Effects ◽  
External Agents ◽  
Management Decision Making ◽  
The Republic ◽  
Selection Of

The scientific article explores the role of software as a tool used by organizations to carry out economic activities in a digital economy without which it is impossible to have adequate competitiveness in a digital economy. The concept of “digital economy” has been clarified. A methodology has been developed to evaluate the effectiveness of the software used or selected on the basis of its qualitative and quantitative characteristics and the requirements of the workplace for the software functionality. Based on the theoretical and methodological base and the developed methodology, a scalable model of an effective management decision-making process for selecting and updating software in an organization is built, a comparison with existing practice is carried out. The significance of the research results is due to the lack of widely available methods in open access for the optimal selection of software as a tool, not related to involving external agents in the process and having the necessary scalability to use them, including collective, in organizations. This creates negative effects for organizations and the economy of the Republic of Belarus as a whole.

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