Login Create Account

Back to Course Catalog

AEM509Agricultural Sciences3 Unitsintermediate

Agricultural Business Management

This course introduces the principles of agricultural business management, covering a wide range of topics essential for success in the agribusiness sector. It explores the meaning and scope of agribusiness, agribusiness management concepts, and various types of agribusiness organizations. Students will learn about enterprise selection, management information systems, decision-making processes, and strategies for growth and expansion. The course also examines public policies, legal considerations, tax strategies, economic principles, and marketing management relevant to agribusinesses in Nigeria.

Generate AI Study Notes

Transform this course into personalized study materials with AI

200h

Study Time

13

Weeks

15h

Per Week

intermediate

Math Level

Course Keywords

Agribusiness ManagementAgricultural EconomicsFarm ManagementMarketingAgribusiness Organizations

Course Overview

Everything you need to know about this course

Course Difficulty

Intermediate Level

Builds on foundational knowledge

65%

intermediate

📊

Math Level

Moderate Math

🔬

Learning Type

Hands-on Practice

Course Topics

Key areas covered in this course

1

Agribusiness Management

2

Agricultural Economics

3

Farm Management

4

Marketing

5

Agribusiness Organizations

6

Public Policies

Total Topics6 topics

Requirements

Knowledge and skills recommended for success

Basic Economics

Principles of Agriculture

💡 Don't have all requirements? Don't worry! Many students successfully complete this course with basic preparation and dedication.

Assessment Methods

How your progress will be evaluated (3 methods)

assignments

Comprehensive evaluation of course material understanding

Written Assessment

tutor-marked assessments

Comprehensive evaluation of course material understanding

Written Assessment

final examination

Comprehensive evaluation of course material understanding

Written Assessment

Career Opportunities

Explore the career paths this course opens up for you

Farm Manager

Apply your skills in this growing field

Agribusiness Consultant

Apply your skills in this growing field

Agricultural Economist

Apply your skills in this growing field

Marketing Manager

Apply your skills in this growing field

Agricultural Policy Analyst

Apply your skills in this growing field

Industry Applications

Real-world sectors where you can apply your knowledge

AgricultureFood ProcessingAgricultural FinanceAgricultural MarketingGovernment Agencies

Study Schedule Beta

A structured 13-week journey through the course content

Week

1

Module 1: Meaning and Scope of Agribusiness

6h

Unit 1: Definition of Agribusiness

3 study hours

•Define agribusiness and identify its various types.
•Discuss the shortcomings of some definitions of agribusiness.
•Explain the encompassing definition of agribusiness involving all aspects of agricultural enterprises.
•Understand that an agribusiness may be formal or informal.

Unit 2: Scope of Agribusiness

3 study hours

•Identify the components of agribusiness: input sector, farm production sector, and output sector.
•Identify diverse opportunities under each component.
•Note strategic roles played by each segment.
•Discuss the influence of input costs on the financial health of the input sector and the production sector.

Week

2

Module 1: Meaning and Scope of Agribusiness

6h

Unit 3: The Essence of Managing Agriculture as Business

3 study hours

•Understand the need for agribusiness management.
•Compare traditional agriculture with modern agribusiness.
•Explain how managing agriculture as a business leads to increased efficiency and prosperity.
•Discuss the transition of traditional agriculture to business-oriented agriculture.

Unit 4: Agribusiness Management and Societal Progress

3 study hours

•Understand the strategic position of Nigerian agriculture.
•Understand the linkage between agriculture and other sectors of the economy.
•Understand the numerous opportunities that can be created through good agribusiness management.
•Understand the transformational potentials of agribusiness.

Week

3

Module 2: The Concept of Agribusiness Management

6h

Unit 1: The Meaning of Agribusiness Management

3 study hours

•Explain the need for agribusiness management.
•Explore the meaning of agribusiness management.
•Discuss the importance of decision-making in agribusiness resources.
•Understand the concept of management as an art and science.

Unit 2: Functions of Agribusiness Management

3 study hours

•Identify the functions of agribusiness management: planning, organizing, directing, coordinating, and controlling.
•Explain the strategic importance of each function.
•Discuss the steps involved in the planning function.
•Understand the role of each function in achieving organizational goals.

Week

4

Module 2: The Concept of Agribusiness Management

6h

Unit 3: The Agribusiness Manager and the Management Environment

3 study hours

•Identify the qualities of a good agribusiness manager.
•Understand the environment in which the manager operates.
•Discuss the likely influence of the environment on the performance of managerial duties.
•Explain the importance of formal education, socio-cultural factors, and economic variables.

Unit 4: Principles of Management

3 study hours

•Identify the principles proposed by Frederick W. Taylor and Henri Fayol.
•Discuss the shortcomings of Taylor's principles of management.
•Explain the reason for the adoption of Fayol's principles of management.
•Understand the 14 principles of management identified by Fayol.

Week

5

Module 3: Agribusiness Organizations

6h

Unit 1: Peculiarities of Agricultural Business Organizations

3 study hours

•Identify the features that make agricultural business in Nigeria peculiar.
•Explain how these peculiarities may influence management activities.
•Discuss the challenges and opportunities presented by these features.
•Understand the interconnectedness among various players in the agribusiness sector.

Unit 2: Economic Environments and Nature of Agribusiness Ownership

3 study hours

•Understand the laissez-faire economic environment.
•Explain the ownership nature of agribusinesses in Nigeria.
•Discuss the roles of private and public ownership.
•Understand the implications of the economic environment on agribusiness operations.

Week

6

Module 3: Agribusiness Organizations

6h

Unit 3: Factors that inform the choice Agricultural Business Organization

3 study hours

•Identify factors to consider in selecting the form of agribusiness organization to establish and operate.
•Discuss the importance of owner objectives, size of the agribusiness, and initial capital outlay.
•Understand the tax liabilities and options available.
•Explain the desired method of distributing earnings and risk.

Unit 4: Types of Agricultural Business Organization

3 study hours

•Identify the different forms of agribusiness organizations: sole proprietorship, partnership, limited company, and agribusiness cooperative.
•Discuss the characteristics, strengths, and weaknesses of each organization.
•Understand the legal and operational aspects of each type.
•Explain the advantages and disadvantages of each form of organization.

Week

7

Module 4: Enterprise Selection

6h

Unit 1: The Meaning of an Agribusiness Enterprise

3 study hours

•Understand the meaning of an agribusiness enterprise.
•Identify the domains of agribusiness enterprises.
•Discuss the role of agribusiness in the Nigerian economy.
•Explain the importance of enterprise selection in achieving business goals.

Unit 2: Agribusiness Enterprises in Nigeria

3 study hours

•Identify the categories of agribusiness enterprises in Nigeria.
•Provide examples of agribusiness enterprises in Nigeria.
•Discuss the opportunities and challenges in each category.
•Understand the importance of the input sector, production sector, and post-production sector.

Week

8

Module 4: Enterprise Selection

6h

Unit 3: Agribusiness Enterprise Selection Steps

3 study hours

•Identify the steps to follow to select an agribusiness enterprise.
•Discuss the importance of setting goals, establishing an inventory of resources, and considering market access.
•Understand the cash flow and resource issues.
•Explain the process of developing a list of possible enterprises and determining compatibility with resources.

Unit 4: Factors to Consider in the Selection of an Agribusiness Enterprise

3 study hours

•State environmental factors affecting a crop enterprise: land, climate, and irrigation water.
•List the technical factors affecting a crop enterprise: farm structures, machinery, and labor.
•Identify the organizational factors affecting a crop enterprise: management and information access.
•Classify the economic factors affecting a crop enterprise: finance and marketing factors.

Week

9

Module 5: Agribusiness Management Information and Decision Making

6h

Unit 1: Agribusiness Management Information

3 study hours

•Understand the relationship between information and agribusiness decision.
•Explain the importance of information in agribusiness management.
•Identify the qualities of useful agribusiness information: accuracy, clarity, completeness, timeliness, and reliability.
•List the sources of agribusiness information: journals, private agencies, research departments, etc.

Unit 2: Farm Management Decision

3 study hours

•Understand the goal of farm management decisions: profit maximization.
•Identify the factors that influence agribusiness management decisions: importance, frequency, imminence, availability of alternatives, and revocability.
•Discuss the decisions on what to produce, how to produce it, and for whom to produce.
•Explain the importance of considering these factors in decision-making.

Week

10

Module 5: Agribusiness Management Information and Decision Making

6h

Unit 3: The Agribusiness Management Decision Making Procedure

3 study hours

•Understand the need to be systematic in taking decisions.
•Identify the steps to follow in making an agribusiness decision: identify the problem, collect data, analyze alternatives, implement the decision, and monitor results.
•Discuss the importance of each step in the decision-making process.
•Explain the role of the manager in accepting responsibility for the outcome.

Unit 4: Tools for Agribusiness Decision Making

3 study hours

•Understand gross margin analysis and its application in decision-making.
•Understand net farm income analysis and its application in decision-making.
•Understand partial farm budgeting analysis and its application in decision-making.
•Understand simple forecasting techniques and their application in decision-making.

Week

11

Module 6: Agribusiness Growth and Expansion

6h

Unit 1: Strategies for Increased Production and Sales

3 study hours

•Identify strategies for increased production and sales: sales promotion, branding, display, presentation, and online presence.
•Discuss the importance of producing efficient and healthier commodities.
•Understand the role of online presence in increasing sales.
•Explain the benefits of handing out samples and partnering with related firms.

Unit 2: Vertical Integration

3 study hours

•Understand the meaning of vertical integration.
•Identify the types of vertical integration: backward and forward.
•Discuss the reasons for vertical integration: control of raw materials, sustainability of production, efficiency, and economies of scale.
•Explain the benefits of taking over the supply chain of a product.

Week

12

Module 6: Agribusiness Growth and Expansion

6h

Unit 3: Horizontal Integration

3 study hours

•Understand the meaning of horizontal integration.
•Discuss the benefits of horizontal integration: increased sales, revenue, size, new markets, and economies of scale.
•Explain the downside of horizontal integration: monopoly.
•Understand the implications of merging with or acquiring firms at the same level.

Unit 4: Diversification

3 study hours

•Understand the meaning of diversification.
•Identify the types of diversification: developing new products and entering new markets.
•Discuss the benefits of diversification: stability of income, efficiency, and new markets.
•Explain the challenges of diversification: attention, funds, expertise, and legal processes.

Week

13

Module 7: Public Policies Affecting Agricultural Business Development

6h

Unit 1: Agricultural Policies and Agribusiness growth

3 study hours

•Understand the meaning of agricultural policies.
•Discuss the policy thrusts of the Nigerian agricultural policy as they concern agribusiness development.
•Explain how the Nigerian government has been using policies to transform the agricultural sector.
•Understand how government policies affect agricultural growth.

Unit 2: Agricultural Research Policy

3 study hours

•Understand the general conceptualization of the Nigerian agricultural research policy.
•Identify the objectives of the Nigerian research policy.
•List the research institutes and their respective mandates.
•Discuss the prospects of some of these institutes and the factors militating against the actualization of their full potentials.

This study schedule is in beta and may not be accurate. Please use it as a guide and consult the course outline for the most accurate information.

Course PDF Material

Read the complete course material as provided by NOUN.

Access PDF Material

Study Tips & Exam Preparation

Expert tips to help you succeed in this course

1

Create detailed summaries of each module, focusing on key concepts and definitions.

2

Practice applying decision-making tools like gross margin analysis and partial budgeting to sample scenarios.

3

Review case studies to understand real-world applications of agribusiness management principles.

4

Focus on understanding the legal and regulatory environment for agribusinesses in Nigeria.

5

Practice numerical problems related to cost analysis, depreciation, and marketing margin analysis.

6

Create concept maps linking Units 3-5 decision-making concepts.

7

Review all TMAs and assignments, focusing on areas where you struggled.

8

Allocate specific study time for each module, prioritizing those with higher weightage in the final exam.

Related Courses

Other courses in Agricultural Sciences that complement your learning

ADVANCED CROP PROTECTION

Organic Crop Production Systems

Soil Ecosystem

View All Agricultural Sciences Courses