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Managerial Experience and Competitive Advantage

One of the ways a farm can gauge whether it has a long-term competitive advantage is to identify resources unique to the farm. To survive in the short-run, farms have to be able to exploit key resources.

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Should Sweat Equity be Used to Compensate a Returning Family Member?

Sweat equity may arise when an on-farm heir is paid less than their true opportunity cost to work for the business and/or the business has grown substantially due to the abilities and efforts of the on-farm heir.

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Benchmarking Machinery Investment and Cost

The continued increase in size of tractors, combines, and other machinery has enabled farms to operate more acres and reduce labor use per acre. However, this increase in machinery size also makes it increasingly important to evaluate the efficient use of machinery.

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Structural Change in Agriculture: Implications for the Farming Sector

The global food and agribusiness industry is in the midst of major changes – changes in product characteristics, in worldwide distribution and consumption, in technology, in size and structure of firms in the industry, and in geographic location of production and processing.

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