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business
supervisory management

Questions and Answers of Supervisory Management

What are the purpose and format of an exit interview?
What are the pros and cons of promoting employees from within the agribusiness firm?
What are some examples of “formal in-house” training, and why is training important?
Discuss the objectives of evaluating employee performance and how such an evaluation should be conducted.
Explain the steps involved in job orientation. Think about the most recent job you have held. Were these steps followed when you were introduced to the job? Which ones were followed and which ones
What are the key elements of a good job application?
Draw up a set of job specifications and a job description for a food or agribusiness job with which you are familiar. (This could be a job you have recently held.) Contrast and compare them. What are
At what point should an agribusiness hire a full-time HR manager? What are the specific reasons a firm should invest resources in a full-time HR manager?
Discuss the functions of human resource management.
Outline the underlying thoughts behind Vroom’s expectancy theory and work through an example of how a manager might utilize it to motivate employees.
Discuss Maslow’s needs hierarchy and how an agribusiness manager can utilize this theory in managing workers.
Outline the differences in employees as postulated by McGregor’s Theory X and Theory Y, and implications for employee management.
How does the democratic style of leadership work?
Authoritarian leadership is one style of leadership. Outline the pros and cons of this style.
Discuss how status in an organization is defined and how it affects individuals in the agribusiness.
The line organization is one type of organizational structure. Discuss the advantages and disadvantages of this type of business set-up.
Some businesses have a “flat” organizational structure. What principle is at work in these firms and what advantages does it have?
Explain why delegation is important in managing a business. Give an example of a task or project that was delegated to you by a manager or supervisor and describe how you carried out the task. Give a
Discuss the span of control principle and what factors influence it.
Explain the differences between the formal and informal organizational structure of an agribusiness.
Pick a food or agribusiness of your choice. Describe its physical distribution system.Try to describe each of the components of a physical distribution system outlined in the chapter for the business
What are the advantages and disadvantages of an MRP system? And a JIT system? In your opinion, which would be better for a fast-food restaurant?
Why might inventory levels be minimized and why might some level of inventory be acceptable?
What are the principal activities of purchasing? Explain some of the factors to consider in selecting a supplier.
What are some of the objectives of an efficient supply chain management system? How have these objectives changed over time?
Why is supply chain management important in an agribusiness firm? Describe the various functions and responsibilities of supply chain management.
For either a job you have held, or a job held by someone you know, carefully explore the design of the job. Evaluate both the social environment and the physical environment of the job you have
What are some of the factors that may be considered in determining the optimal capacity for a food or agribusiness firm?
What factors are involved in the choice of plant or facility location? Name some food and agribusiness companies whose locations reflect consideration of these factors.
Differentiate between the four types of plant or facility layouts and give an example of a specific agribusiness that might employ each layout. Visit a food or agribusiness firm of your choice. Map
Why is Frederick Taylor called “the father of scientific management”?
In your view, what are the most difficult operations management problems for the following types of firms: (a) a veterinary practice that serves both the farm and companion animal markets; (b) a
List and describe some of the activities that an operations manager may be engaged in. How would you describe the agribusiness operations manager’s role? How does this role relate to the systems
Explain how trade credit can provide an interest-free loan that can be used to finance an agribusiness.
What are some of the benefits of preparing a pro forma balance sheet and income statement? Why would a lender be interested in receiving those statements?
A projected cash flow statement is usually completed for an entire year, but the time period projected can be on an annual, quarterly, or monthly basis. For an agribusiness that sells a product whose
Assume the before-tax interest rate for a borrower is 4 percent and the marginal tax rate for that borrower is 25 percent. What is the after-tax interest rate? Explain why the after-tax interest rate
Assume you borrow $100,000 to purchase a house and the stated interest rate is 5 percent. The loan will be set up as an installment loan with quarterly payments. What is the annual percentage rate?
A compensating balance is a loan term that usually results in a higher effective interest rate than a simple interest rate. Is there ever a situation when requiring a compensating balance does not
Throughout the course of a year an agribusiness may have temporary periods of excess cash. During those periods, management may be tempted to spend the excess cash to purchase a fixed asset. Explain
For some agribusiness firms, the sale of some of their products is seasonal (i.e., fertilizer, seed, etc.). Discuss how that would impact the need for outside financial resources and the type of loan
What are the three general classes of loans? Give an example of an asset or type of capital acquisition that each type of loan would be used to finance.
Discuss the two main reasons for an agribusiness increasing financial resources and differences in the sources of those additional resources.
Discuss why graphing ratios rather than reporting those ratios in a table could be advantageous when presenting the financial condition and performance of an agribusiness to an outside group, such as
Discuss why it is difficult to recommend a specific level for the leverage ratio (debt path)as it is related to the return on sales ratio (ROS) (operating path), asset turnover (asset efficiency
What is the desired relationship between return on assets (ROA) and return on equity(ROE)? How might this relationship affect the decision of a loan officer on whether or not to grant a loan request
What specific ratios are used to calculate ROE when using the profitability analysis model? What are two ways the profitability analysis model can be used as an analysis tool by agribusiness managers?
Why might one firm use one set of financial ratios and another firm use a different set of financial ratios to evaluate financial condition and performance?
List some of the limitations of ratio analysis for a lender to an agribusiness. What key issues must the lender be aware of if he or she is going to use financial ratios effectively?
Discuss two reasons why an agribusiness firm might need to evaluate liquidity ratios throughout the year rather than at the end of the year.
What are the major categories of financial ratios? Discuss why all four categories need to be evaluated for a firm.
Describe what financial ratios the Chief Operations Officer (COO), the Chief Financial Officer (CFO), the bank loan officer for the firm, and a prospective investor might track in an agribusiness.
Discuss the value of establishing benchmarks when performing financial analysis. What insights do these benchmarks provide?
Discuss the major value to a lender of evaluating the financial condition and performance of an agribusiness firm.
For the case study on Aggieland Landscaping Company, assume two new subdivisions are being planned in Ted’s trade territory. Ted now believes that instead of a net income after tax of $55,000 in
The statement of owner’s equity and the statement of cash flows are also used by managers and other users of financial information for an agribusiness firm. Why are these two statements important
Why is it important for the gross margin to exceed the operating expenses and interest expense?
Define the difference between revenue and a receipt from an accounting point of view.
Discuss the meaning of depreciation and describe how it is treated on the balance sheet and income statement. Discuss how it impacts the debt repayment capacity for a firm.
What is the difference between gross margin and gross profit? Why is it important to distinguish between these two measures?
Define the difference between current and fixed assets. Why is this distinction important?
Why do accountants usually value assets at cost and not market value?
What are current liabilities? Why is the management of current liabilities so important to food and agribusiness firms?
Why does a balance sheet have three major sections? Why does the balance sheet equation always balance?
Why are both a balance sheet and an income statement needed to report the financial position and performance of an agribusiness firm?
Why are financial data important to an agribusiness and an agribusiness manager?
Give some of the reasons why customer maps often show customers clustered in particular areas. What can be done about this situation?
What are focus group interviews? Can a small firm use this tool? Why or why not?What are some important limitations of the focus group interview?
What are the benefits of preparing a strengths and weaknesses analysis on competitors?
Your cooperative is evaluating a new package of precision agricultural services they may offer to patron-members. This package includes an extensive field-mapping program, linking soil fertility
What is meant by derived demand? Explain why the demand for animal health products is a derived demand.
Why are sales forecasts particularly difficult to make in food and agribusiness firms?
What is the purpose of a marketing audit? Why is it important to have outsiders involved in marketing audits?
Some retail food stores offer a service where they sell products via the Internet. Here, using communications software, the customer accesses the firm’s inventory and price list through their
What are the advantages of a manufacturer selling directly to a farmer rather than to a distributor? Why can a dealer sometimes do a better job marketing to farmers than a manufacturer can?
Compare and contrast the role of a salesperson for a large food or agricultural input manufacturer with that of a local salesperson for a dealer or retail organization. If possible, interview these
Based on your personal experiences and observations, how do salespeople vary from industry to industry? Why do we see these differences? Discuss some of these differences for:a. a salesperson at an
You are the marketing manager for a large animal health company. Your firm has just developed a very effective anthelmintic (wormer) for cattle. Your target market is large feedlot operations in the
You are the marketing manager for a retail food company that has a new 16-ounce fruit juice product, packaged in a reusable squirt-type bottle. Who is your target market for this new product and why?
If you were introducing a new electronic dairy feeding system that could reduce feeding costs by 15–20 percent, what pricing policy would you suggest? Why? Would you stay with this policy
Draw a product life-cycle curve for large four-wheel-drive farm tractors. Where would you estimate this product’s life cycle is currently? Why? What might manufacturers do to prolong its life?
Pick a food product or an agricultural input. Use the Total Product Concept to break the product down into the generic product, the expected product, the value-added product, and the potential
Many retail food stores also sell flowers. Why do you suppose they do this? What marketing decision does this illustrate? Besides food products and flowers, what other products or services do retail
Using the food and agricultural trade press, or an online source, identify a firm communicating tangible value in its message and one communicating intangible value.Compare and contrast these
Two types of competitive advantage are described in the chapter. Identify a food or agribusiness firm pursuing a differential advantage. Also, identify a food or agribusiness firm pursuing a cost
Focusing on one of the target markets you identified for the local farm described in question 4, what position should the firm take in the market? Based on the key needs you identified for one of the
Select three different products: one marketed online, one in a newspaper, one from a farm magazine. Describe the market segment targeted for each product.
What is meant by a market segment? Farms serving local markets for fruits and vegetables appeal more to some market segments than to others. Identify and describe two market segments that you believe
How can an agribusiness manager evaluate the strengths and weaknesses of their organization? Why is it important to understand what an agribusiness does well and to understand those areas where
A key part of the SWOT analysis is evaluating the impact of broad market factors such as government policies, international trade developments, and new technologies. For the agribusiness industry of
Explain the differences among product-driven, sales-driven, and market-driven firms.Why are these differences important to an agribusiness manager?
Discuss some of the advantages and disadvantages of using a joint venture to enter a foreign market.
Exporting is one strategy that firms can use to enter foreign markets. Discuss the differences between indirect and direct exporting.
How can exchange rates affect trade?
How can cultural differences inhibit trade? Give an example.
What is “culture,” and why is the understanding of culture important?
One of the goals of the World Trade Organization (WTO) is to reduce tariffs. How does this improve world trade and how does increased world trade benefit society?
Define food security and discuss how and why it affects agribusiness.
Developed and developing countries have differing characteristics regarding the demand for food. Discuss these differences and some of their implications for agribusiness firms.
Discuss some of the opportunities for smaller agribusinesses in the international marketplace.

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