Sep 19, 2021  
2020-2021 Course Catalog 
    
2020-2021 Course Catalog [ARCHIVED CATALOG]

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AGB 331 - Entrepreneurship in Agricult

Credits: 3
Lecture Hours: 3
Lab Hours: 0
Practicum Hours: 0
Work Experience: 0
Course Type: Open
A study of the role and organization of several aspects of agribusiness including financial management and control, marketing, operation and resource management.
Competencies
  1. Summarize the current industry issues
    1. Identify industry production trends
    2. Define issues that impact the future of the industry
    3. List career opportunities
  2. Investigate agricultural economics conceptual components
    1. Describe competitive, supplementary, and complementary enterprise relationships and their use to find the profit-maximizing combination of two enterprises
    2. Explain the importance of opportunity cost relating to managerial decision making
  3. Contrast commodity marketing and risk management
    1. Identify the types of financial risk inherent in agriculture
    2. Describe how individuals vary in their willingness to accept exposure to price risk
    3. Calculate the break even price for producing a commodity
    4. Describe risk management strategies available for producers based on the financial strength of their business
    5. Formulate a marketing plan for a producer based on the financial strength of the business and the management approach to price risk
  4. Analyze agricultural finance
    1. Compare risk and return relating to short/long term goals and financial strength of business
    2. Explain the relationship between leverage, financial risk and growth of the business
    3. Calculate opportunity cost of varying investments
    4. Calculate the time value of money and illustrate with an application example
    5. Calculate simple and compound interest
    6. Identify sources of agricultural credit and the cost of borrowing capital
    7. Identify factors affecting the cost of credit
    8. Identify terminology used in simple and compound credit
    9. Calculate actual percentage rates on installment loans
    10. Set up a bank note with repayment terms for a short, intermediate and long term asset
    11. Calculate financial ratios
    12. Explain repayment activity for loans
    13. Identify current, intermediate and long term debt examples
    14. Illustrate, with examples, secured and unsecured debt
    15. Use an example to demonstrate a line of credit vs. loan
    16. Compare the differences between a security agreement and a financing statement and their usage
  5. Develop accounting procedures and practices
    1. Examine a net worth statement
    2. Calculate efficiency factors for business enterprises using profitability solvency ratios
    3. Calculate net return per $100 invested in enterprises
    4. Calculate current, working and net capital ratios from financial statement or balance sheet
    5. Calculate liquidity ratios
  6. Assess entrepreneurial skills through interaction
    1. Identify elements necessary in creating a new business
    2. Justify the importance of assistance from professionals
    3. Analyze a business plan
    4. Identify factors in obtaining financing for a new business
    5. Investigate sources and methods of financing a business
    6. Identify career opportunities
    7. Appraise career goals and entrepreneurial characteristics
    8. Plan positively for change
    9. Review ethics in business
  7. Compare microcomputers and information systems, hardware and software
  8. Select software and hardware delivery systems for appropriate business applications
    1. Analyze proper business management procedures and practices
    2. Identify alternatives to ownership through leasing
    3. Review the various types of contracts used in business
    4. Identify the life cycle of a business operation
    5. Outline a chain of command for a business
    6. Develop a filing system
  9. Develop a business marketing strategy
    1. Examine marketing programs in agribusiness
    2. Review the marketing mix concept of product, place, price and promotion in designing strategies
    3. Compare marketing concepts and strategies
    4. Design a marketing plan



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