How does culture play into the success of the family farm? Family farms can measure success and value in a number of ways, whether objective (for example, income) or subjective (for example, the perceived success of business owners; working with family members). We believe that when family businesses practice a culture of collaboration, they will…Read more about Farm Success and Creating a Culture of Collaboration[Read More]
Farm Management
Financial stress is the psychological strain that results from concerns about one’s financial situation. For farm households, this strain is not incidental; it is a measurable and prominent feature of agricultural life. Most agricultural economists use financial ratios and/or profitability to measure farm financial stress. The financial stress measure used for this article, the APR…Read more about Farming and Financial Stress[Read More]
Introduction Competitive advantage can result from product differentiation or from being a low-cost producer. A low-cost producer, as the term implies, strives to have below average per unit costs while receiving at least average product prices. A farm pursuing product differentiation, on the other hand, strives to obtain above average unit product prices while maintaining…Read more about Evaluating a Farm’s Competitive Position[Read More]