This article throws light upon the three key aspects of a farm. The aspects are: 1. Human Aspects 2. Physical Aspects 3. Financial Aspects. 1. Human Aspects: (i) Goals of Farm Family: Scope for a change, i.e., family satisfaction and an additional business approach to achieve both family satisfaction and profit maximization. The farmer's family may not be able to [...]
This article throws light upon the five main management exercises before taking final decision on farm. The management exercises are: 1. Appraisal of Farm Resources 2. Appraisal of Land Resources 3. Appraisal of Capital Resources 4. Entrepreneurial Appraisal. Management Exercise # 1. Appraisal of Farm Resources: The basic aim on commercial farms are the minimization of cost and maximization of [...]
This article throws light upon the three important capital assets required in a farm. The capital assets are: 1. Farm Buildings 2. Irrigation 3. Farm Machinery. Capital Asset # 1. Farm Buildings: Livestock need to be protected from the in-clemencies of weather. If the livestock is kept in the open it shall require extra energy to fight against rains, heat [...]