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Agribusiness Management 640
Due: Tuesday 30, 2012
Please answer the following questions using all resources at your disposal. No group participation is allowed. Any indications of participation with another individual will result in automatic “F”. This exam covers chapter 1-12.
1. Do you see any “structural” problems in the Input Sector of agribusiness? What is being done to ensure that these problems will not worsen?
2. Provide a brief outline on what you feel should be the results of successful management. How should the manager be judged? What are some objective measures that could be used?
3. Describe some major changes in the socioeconomic system during the last decade or so, and explain the resulting modifications in management philosophy or attitudes.
4. It is no longer enough to satisfy the need of customers and to achieve the profit motives of the agribusiness and its stockholders. Companies must also consider and satisfy the needs of individuals whose lives are affected by the firm’s activities. This area is known as “Social Responsibility”. What are some different forms of social responsibility?
5. The Japanese has been very successful in the United State Market place. What was their four-step long-range strategy?
6. Market potential can be defined in various ways. Let’s define market potential as the estimate of the amount of money a business can expect to make from the product or service they plan to market. That is, it is the product the total number of potential consumers, market share, average selling price and average annual consumption. What is the market potential for Region X, with a customer base of 150,000 and a market share of 10%, and the product selling for $12 with an average annual consumption of 2 items?
7. Assume there are 1000 identical individuals in the market of cereal, each with a demand function given by Qd = 48 – 8P, and 100 identical producers of cereal grain, each with a supply…