ABME 11 1ST LONG EXAM

Agribusiness

involves the production protection, sales, and marketing of the product to satisfy the customer needs

production-oriented agribusiness

manufacture and distribution of farm supplies; production activities on the farm; and thestorage, process, and distribution of farm commodities

market-oriented agribusiness

dynamic and systemic endeavor that serves consumers globally and locally through innovation and management of multiple value chains

sequential business activities

industry has many linked businesses

support business activities

provides vital support to the value chain

agro-industry

dominant view of agribusiness involved in food supply chain

agribusinessman

a person who works in or manages an agribusiness

25 years

life expectancy of humans before farming and agriculture

nile river

river used by Egyptians to irrigate crops in bronze age

bronze and iron

materials used for farm implements in bronze & iron age

Industrial revolution

large-scale movement from farms to the cities (factories) left many farms vacant as the men worked in factories

gross domestic product

standard measure of the value added created through the production of goods and services in a country during a certain period of time

farm-centric

all revolves in supporting farmers in maximizing economic returns

processing-centric

computerization and automation has been rising

market-centric

empahsize the role of customers; put them at the center of marketing strategy

crop diversification

slow rate of crops due to inadequate capital, hence, non-staples were exported as an alternative source of income

integrated farming

individual owner-operated farming → production and market integration

processing operations

addition of more processed, value-added products in the market

reframed agribusiness

• dynamic

• serving consumers globally and locally

• multiple value chains

• sustainable orchestration

global value chains

• all activities involving in transforming raw materials into final consumer product

• natioanl and global lead firms dictate how products are cultivated, harvested, transported, processed, and stored through a series of public and private standards

ASEAN Economic Integration

aims to eliminate trade barriers and facilitate trade of both goods and services within the region

traceability

• ability to track a product batch and its history through the whole, or part of a production chain

• promotes transparency

global standards and certification

• established by consensus and approved by a recognized body

• provides for commona nd repeated use, rules, and guidelines, or characteristics for activities or their results, aimed at the achievement of the optimum degree of order in a given context

philippine national standards

standards/codes of practice which were developed for fruits, vegetables, cutflowers, plantation crops, cereals, livestock/animal by-products, non-food products, codes of practice or codes of hygienic practices

good agricultural practices

activities don on the field and during transport to the consumers that prevent contamination

good manufacturing practices

a system for ensuring that products are consistently produced and controlled according to quality standards

hazard analysis critical control point

management system in which food safety is addressed through the analysis and contorl of hazards form procurement to consumption of the finished products

industry analysis

a type of study that attempts to analyze information pertinent to a single industry

industry

• group of firms that are producting products that are close substitutes of each other

• group fo firms undertaking similar functions and activities and occupying a step in the supply process

strategic business units

distinct, independent divison within a larger company that has its own strategy, goals, and competitors, and is responsible for its profitability

business functions

activities that an organization performs to operate (marketing, sales, operations, etc.)

management functions

planning, organizing, leading, controlling

vertical integration

occurs when a company purchases entities engaged in different stages of the value chains

key success factors

strategy related actions that every firm must be competent at doing to be competitively and financially successful

strategic group

consist of rival firms with similar competitive strategies and position in the market