California Future Business Leaders of America

Your Future Is Our Business

AGRIBUSINESS

  • Agribusiness

    Category: Objective Test
    Type: Individual - Section, State, and National

    ELIGIBILITY
    The participant may not have previously competed in this event at the national level.
    SECTION: Each local chapter may entr thre (3) members. (refer to Objective Test Guidelines for more information)
    STATE: A minimum of the top six (6) from section competition will represent their section at the State Leadership Conference. This event qualifies for a wild card entry. (see Objective Test Guidelines)
    NATIONAL: The top four (4) places in state competition will represent California at the National Leadership Conference.

    Overview
    60-minute test administered during the NLC.

    Objective Test Competencies: Economics; Finance and Accounting; Health, Safety, and Environmental Management; Management Analysis and Decision Making; Marketing; Terminology and Trends

    Skills: This event provides recognition for FBLA members who demonstrate an understanding of and skill in basic agribusiness concepts and procedures.

    GUIDELINES (It is highly recommended that competitors read all guidelines)
    Website Resources:
    National FFA Organization
    Examrace
    Competencies
    Tasks
    Economics
    1. Utilize economic principles to establish and manage an Agriculture, Food, and Nature Resource (AFNR) enterprise.
    2. Describe the role of global supply and demand on AFNR.
    3. State the economic output of AFNR-related industries in the United States.
    4. Evaluate the impact of AFNR activities in your local community
    5. Apply economic principles to marketing.
    6. Differentiate types of ownership and outline the structure of AFNR businesses in a capitalistic economic system.
    7. Classify the characteristics of successful entrepreneurs in AFNR businesses.
    Finance and Accounting
    1. Manage cash budgets, credit budgets, and credit for an AFNR business using generally accepted accounting principles.
    2. Budget resources (e.g., capital, human, financial, time).
    3. Manage assets for optimum utilization.
    4. Manage risk of liabilities.
    5. Prepare and interpret financial statements (e.g., balance sheet, profit/loss statement, cash flow statement).
    6. Prepare tax forms (e.g., W-4, I9, Depreciation, 1099, Workers Compensation).
    7. Determine cost of doing business
    8. Compare and examine advantages and disadvantages of banking procedures (e.g., bank reconciliation).
    9. Analyze investment options (e.g., buy, lease, finance, risk).
    10. Calculate costs of carrying inventory.
    11. Use record keeping to accomplish AFNR business objectives, manage budgets, and comply with laws and regulations.
    12. Describe how to manage inventory and determine selling price
    13. Explain the importance of return on investment for an agribusiness enterprise
    Health, Safety, and Environmental Management
    1. Use tools, equipment, machinery, and technology appropriate to work within areas related to AFNR.
    2. Define what level of possible contamination or injury is considered a risk in order to set safety priorities
    3. Identify insurance needs used in agricultural business, including: property, health, life, crop and liability, (personal and environmental).
    4. Develop response plans to handle emergencies.
    5. Identify hazards and acquire first aid skills to promote environmental safety.
    6. Examine required regulations to maintain/improve safety, health, and environmental management systems and sustainable business practices.
    7. Enact procedures that demonstrate the importance of safety, health, and environmental responsibilities in the workplace.
    8. Demonstrate methods to correct common hazards.
    9. Demonstrate application of personal and group health and safety practices.
    Management Analysis and Decision Making
    1. Identify and compare the four types of agricultural business organizations: sole proprietorship, partnership, cooperative, and corporation.
    2. Explain the environmental considerations of decision making in AFNR management.
    3. Predict the positive and negative impacts of AFNR activities.
    4. Analyze the strengths, weaknesses, opportunities, and threats to an AFNR enterprise or business unit.
    5. Develop an operation and/or production plan to provide required levels of product or service.
    6. Develop business goals and strategies that capitalize on opportunities in an AFNR market.
    7. Identify and observe ethical standards in planning and operating AFNR businesses.
    Marketing
    1. Use industry-accepted marketing principles to accomplish AFNR business objectives.
    2. Communicate the importance of AFNR to general public.
    3. Evaluate alternative marketing strategies, such as value-adding, branding, and niche marketing, and propose and implement appropriate modifications to achieve AFNR business goals.
    4. Perform a marketing analysis, including evaluation of the competitors, customers, international and domestic policy environment, regulations and rules, standards and AFNR business resources.
    5. Develop and implement marketing strategies with agricultural commodities, products, and services.
    Terminology and Trends
    1. Examine economic, social, and technological changes to spotlight their impact on AFNR organizations and the industry.
    2. Analyze the interaction among ANFR systems in the production, processing, and management of food, fiber, fuel, and sustainable use of natural resources.
    3. Explain foundational cycles and systems of AFNR (plant and animal life cycles, nutrient and water cycles, and animal production).
    4. Explain how changes in one system in AFNR can benefit and cost components of other systems (e.g., using less irrigation water and the impact on soil systems, economic systems, and watersheds).
    5. Explain how regulations and major laws impact management of AFNR activities.
    6. Describe current issues impacting AFNR activities.
    7. Explain the impact of sustainability on AFNR activities and practices.
    8. Envision emerging technology and globalization to project its influence on widespread markets.

    Alignment

    NBEA Standards:
    Accounting
    Entrepreneurship
    Management
    Marketing
    Career Clusters:
    Agriculture
    Business Management & Administration
    Marketing, Sales, & Service
     
     
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