Agribusiness 30
AGBU10
Module 10: Agricultural Diversification (Optional)
Outcome
Assess opportunities for diversification in agriculture.
Indicators
(a) | Examine types of risks (e.g., operational and financial) agribusiness owners may face. |
(b) | Define the terms diversification and risk management. |
(c) | Discuss the relationship between risk management and diversification within the context of agriculture. |
(d) |
Examine ways in which agricultural diversification can be accomplished, such as:
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(e) | Assess the benefits (e.g., better livelihood for producers/farmers, increased variety of products in the marketplace and increased employment opportunities) and challenges (e.g., capital costs, financing and skillset required) associated with various agricultural diversification strategies. |
(f) | Describe ways to analyze the success of a diversification strategy following its implementation. |
(g) | Identify the purpose of Business Risk Management (BRM) programs (e.g., AgriStability, AgriRecovery and AgriInvest). |
(h) | Investigate features of, and eligibility and application requirements for, BRM programs. |
(i) | Analyze a variety of given agribusiness scenarios, propose potential solutions for diversification and defend the best solution for each scenario. |
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