July 27, 2019

Assessment of Management Skills

by Michael Langemeier

Assessing management skills is an important part of benchmarking farm performance and figuring out where improvements may be needed. If the operators on the farm identify management areas which are not currently being addressed, they will need to determine whether someone is going to get up to speed with regard to these areas or outside help is going to be sought to address weaknesses.

ARTICLES WITHIN PUBLICATION:

Assessing Production Management Skills

September 15, 2018

Productivity growth is a function of changes in input use, technical change, and technical efficiency change.

Assessing Financial Management Skills

December 15, 2018

Utilizing key performance indicators is an important ingredient in creating an environment that stresses continuous improvement.

Assessing Management Practice Skills

February 15, 2019

Management practice skills help ensure that the business is running smoothly and are helpful in the development of a business plan.

Assessing Personnel Management Skills

April 15, 2019

Personnel management skills help ensure that all individuals in the organization understand their roles, be trained to perform them, and work effectively as a team.

Assessing Procurement and Marketing Skills

May 15, 2019

Failing to develop a marketing plan may lead to a situation in which the farm only sells their products when they need liquidity.

Assessing Relationship Management and Leadership Skills

June 5, 2019

As farms continue to grow, relationship management and leadership skills will become increasingly important.

Assessing Risk Management Skills

June 30, 2019

Risk management involves optimizing expected returns given the risks involved.

Assessing Strategic Positioning Skills

July 27, 2019

Strategic direction involves thinking about whether the farm is going to focus on a commodity based strategy or a differentiated product strategy.

TAGS:

business planning, labor, risk

TEAM LINKS:

Michael Langemeier

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