Upon successful completion of this course, students will be able to:
1. Describe the composition, scope, and dynamics of the agriculture/wine business industry.
2. Evaluate the factors that are important to consider in selecting a particular form of business ownership.
3. Describe the major uses of management information records.
4. Analyze basic financial statements and describe the process and products of financial planning.
5. Evaluate ways to finance an agriculture or wine business and differentiate between equity and debt capital.
6. Make investment decisions involving capital items.
7. Evaluate strategic marketing approaches to determine effectiveness and profitability.
8. Analyze different elements of the marketing mix to determine how to market a product or service.
9. Describe the broad concept of operations management and how operating systems function in a company.
10. Discuss the primary functions of management and the importance of each function in a wine or agriculture business organization.
11. Analyze the components of a successful human resources management plan.
12. Evaluate contemporary issues in Sonoma County wine and agriculture business.
A. Development of the food, wine and agribusiness system
B. Input supply sector
C. Production sector
D. Processing and distribution section
E. Emerging trends and challenges for food, wine and agriculture business managers
II. Business Ownership
A. Forms of business ownership
1. General partnership
2. Limited partnership
3. Limited liability partnership
5. Limited liability company
B. Relationships between businesses
III. Overview of Financial Statements Common to the Agriculture Industry
A. Introduction and definitions
B. Financial statements common to the agriculture industry
C. Balance sheet
D. Distinction between expenditures and expenses
E. Income statement
F. Statement of cash flows
G. Integrated financial statements and the relationship among the three major financial statements
H. Management information records
IV. Overview of Financial Analysis and Planning Methods Commonly Used in Agriculture Businesses
A. Uses of financial analysis
B. Financial statement analysis
C. Ratio analysis
D. Applying ratio analysis
E. Break-even analysis and contribution to overload
F. Financial planning and budgeting
G. Using budgets as financial controls
V. Financing the Business
A. Defining the term financing
B. Equity versus debt capital
C. Leasing: definitions, advantages, and disadvantages
D. The concept of leveraging
E. Determining the appropriate financial structure
F. Sources of financing
G. Financing new companies
H. Financing cooperatives
VI. Strategic Marketing
A. Definition of marketing
B. Marketing management
C. Target marketing
E. Customer-level marketing
F. Product positioning
G. Marketing opportunities
I. Consumer and buying behavior
J. Business buyer behavior
K. Marketing to wholesalers and retailers
VII. The Marketing Mix
C. Product life cycle
G. Illegal marketing activities
VIII. Operations Management
A. Definitions and examples
B. Production processes
C. Plant / business location and design
D. Production planning and control
E. Procurement systems
IX. Managing Agriculture and Wine Business Organizations
A. Role and importance of planning
B. Formal organizations
C. Responsibility and authority
E. Role of informal organizations
F. Implementing the coordination function of management
X. Human Resources Management
B. Human resources planning
D. Selecting new employees
E. Orienting new employees
F. Training and development
G. Managing employees
H. Handling grievances
I. Performance appraisals
J. Determining compensation
K. Promoting employees
L. Handling terminations
M. Challenges faced by food, wine and agriculture business firms
N. Health and Safety in California
O. Employee handbooks
P. Resumes and cover letters
XI. Contemporary Issues in Food, Wine and Agriculture Business
A. U.S., California, and Sonoma County
B. Planning a field trip to a Sonoma County business
1. Working in a group, coordinate a field trip to a local agriculture or wine business operation. There will be 4-6 field trips during the semester, one organized by each group.
2. Field trip journal, 1-2 pages of reflection and observation per field trip.
3. Write a vision and mission statement for an agriculture or wine business.
4. Write a resume and cover letter and evaluate another student's resume and cover letter from a prospective employer's perspective.
5. Conduct Internet research and compile a list of Internet resources for a selected business.
6. Answer review questions related to reading assignments, including case study questions.
7. Homework problems: business operations problem sets.
8. Track investment decisions involving capital items and write a 1-2 pages summary.
9. Midterm and final exam.
10. Reading: 25 -30 pages per week.
Introduction to Food and Agribusiness Management, Baker, Burnewald and Gorman, Prentice Hall, 2001
Labor Management Laws in California Agriculture, Rosenberg, Horwitz and Egan, 2nd edition, 1995
First Things First, Stephen Covey, Simon & Schuster, 1996.
Instructor prepared materials