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Farm Management 7th Edition by Ronald Kay , William Edwards,Patricia Duffy
Edition 7ISBN: 978-0073545875Farm Management 7th Edition by Ronald Kay , William Edwards,Patricia Duffy
Edition 7ISBN: 978-0073545875 Exercise 2
How will quick access to more information help farm managers in the 21st century make better decisions
Explanation
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Farm Management:
The term farm management refers to organizing the work of a large commercial farm in a manner that profit can be earned. Better farm management can be achieved by considering the economical, technological and climatic changes in mind.
Help of quick access information in decision making:
The decisions of the manager are based on the following factors:
• Manager should have accurate information about the organization so that manager is able to make correct decisions.
• Manager should get timely information so that manager is able to take corrective actions for the errors done in an organization.
• Manager should make decisions which can be based on the realistic situations of current costs, production and prices.
The term farm management refers to organizing the work of a large commercial farm in a manner that profit can be earned. Better farm management can be achieved by considering the economical, technological and climatic changes in mind.
Help of quick access information in decision making:
The decisions of the manager are based on the following factors:
• Manager should have accurate information about the organization so that manager is able to make correct decisions.
• Manager should get timely information so that manager is able to take corrective actions for the errors done in an organization.
• Manager should make decisions which can be based on the realistic situations of current costs, production and prices.
Farm Management 7th Edition by Ronald Kay , William Edwards,Patricia Duffy
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