Assessment of Management Skills

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

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

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.

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

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

Risk management involves optimizing expected returns given the risks involved.

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