A farm business management survey was conducted by mail across all major rural industries in Queensland. Responses revealed a general consensus that farming is becoming less rewarding as an occupation, and more complex and risky. Rising costs were perceived as the major threat to business viability, followed by climatic variability, marketing and policy issues. Production problems and political pressure groups were seen as only moderate threats, while environmental problems rated as least important. Ranking of threats varied considerably between industries. Key decisions affecting business viability rangedfrom cropping program determination in the grain, tobacco and fruit and vegetable industries, to choice of time and place for marketing sheep, beef and pigs, to capital improvement and maintenance in chicken and dairy industries, and optimising input levels in the sugar cane industry. These findings are discussed in the context of a dynamic external environment, particularly in respect of changing policy settings.