@article{Holland:246902,
      recid = {246902},
      author = {Holland, Jacqueline and Widmar, Nicole and Widmar, David  and Gunderson, Michael},
      title = {PRIORITIZING MANAGEMENT FOCUS AREAS FOR COMMERCIAL FARMS},
      address = {2016-10},
      number = {1240-2016-101681},
      series = {2016-1},
      pages = {17},
      year = {2016},
      abstract = {Farm management is a series of complex processes  incorporating a variety of dynamic factors, including  biological production systems, resource allocation and  management, and the management of increasingly complex  financial and economic systems.  Farm managers are  constantly required to prioritize and allocate management  effort and attention amongst these factors and evaluate  tradeoffs.  This analysis elicited from commercial  producers the relative ranking of five critical farm  management focus areas, namely, managing production;  managing land, equipment, and facilities; controlling  costs; managing output prices; and managing people.  Out of  a total of 2,247 commercial farms in this study, the  largest mean shares of importance were placed on  controlling costs (28.6%) and managing production (27.3%).   Producers, on average, emphasized the management areas of  controlling costs and managing production, relative to  managing land, equipment, and facilities; managing people;  and managing output prices, for farm success.  Correlations  between the farm management focus areas studied were  estimated from producer-specific share of importance  estimates resulting from a random parameters logit model;  the strongest correlation observed was the negative  relationship between managing production and controlling  costs.  Implications for self-identified success factors,  or critical areas of management focus, of commercial farms  are far reaching, potentially influencing sales, marketing,  and decision support for these operations, as well as  driving research and programmatic focus to provide relevant  information to these producers moving forward.},
      url = {http://ageconsearch.umn.edu/record/246902},
      doi = {https://doi.org/10.22004/ag.econ.246902},
}