BM303 Contemporary Issues in Agribusiness Production and Management Case Study Sample
Assignment Details
Case study analysis: As part of this assessment, students will be required to analyze a case study andsubmit a report, which must include: Key factors involved in the sustainable management of Agribusiness. Current sustainable management practices employed to achieve objectives in an agribusiness industry of your choice.
Word limit: 1500 words
The total word limit for the analysis of the case study is around 1500 words excluding the table of content, the bibliography and annexures. Maximum variation of 10 % is allowed. Font should be Times New Roman, size 12 and space 1.5.
Some examples that can be used as an example for are as follows:
1. Lessons From the Aftermaths of Green Revolution on Food System and Health by Daisy A. John and Giridhara R. Babu retrieved from (2021) https://www.frontiersin.org/articles/10.3389/fsufs.2021.644559/full
2. Reducing India’s agricultural carbon footprint with the least costs by Neha Jain on 21 February 2019 retrieved from https://india.mongabay.com/2019/02/reducing-indias-agricultural-carbon- footprint-with-the-least-costs/
The students are also requested to look for other case studies on the similar patterns for analysis.
Solution
Introduction
The agricultural sector is often referred to as agribusiness. It stands as a backbone or fundamental pillar in the contemporary global economic landscape. This entire report will shed light on the aspects unveiled in a selected case study, i.e. Cost and competitiveness of agricultural produce in Nigeria: impact on exportation. In accordance with the information stated in Cost and competitiveness of agricultural produce in Nigeria: impact on exportation, it is now confirmed that agribusiness plays a significant role in the global economy, specifically in the context of the countries such as Nigeria (Moguluwa et al. 2021). In addition, agriculture is a key contributor to Nigeria’s GDP and its employment. Still, Nigeria's agricultural sector has encountered certain challenges including infrastructure deficits, resource constraints, policy uncertainties along with market inadequacies.
Relating to this context, this selected case study has revealed the estimated cost and competitiveness of the agricultural produce in Nigeria and its overall impact on exportation (Moguluwa et al. 2021). In this paper, overall analysis will delve into the major factors evident in sustainable management practices in agri-business along with contemporary sustainable strategies employed to attain the objectives in this industry.
Key Factors in Sustainable Management of Agribusiness
In accordance with the information stated in the particular case study, the key factors involved in the sustainable management of Agri-business are as follows;
• Competitiveness
Competitiveness determines long-term sustainability of agribusinesses. This is to be included in this context that investments in “research and development” initiatives are highly essential for driving innovation and enhancing the product quality (Shabanov et al. 2021). The same enables the agribusinesses to differentiate themselves in the competitive marketplace. Quality control measures ensure reliability and consistency by enhancing customer loyalty and customer trust. Apart from that, it is essential to conduct extensive market research. The same enables agri-businesses to stay informed about the shifting preferences of the consumer and evolving market trends. Precisely, this approach enables the agri-businesses to remain competitive and introduce their product offerings accordingly.
Referring to this information, agribusinesses can maintain competitiveness in both international and domestic markets by continuously refining their products and processes. As indicated in the particular article, this strategic practice is highly significant in the face of evolving industry dynamics (Moguluwa et al. 2021). This is how competitiveness can shape profitability and eventually contribute to sustainable growth in the agribusiness industry domain for university assignment help.
• Cost Management
Efficient cost management is highly significant for sustainable agribusiness operations. It enables to maintain profitability and competitiveness. The information depicted in the particular case study has conveyed that minimization in agriculture waste can reduce unnecessary expenses to some extent (Moguluwa et al. 2021). On the other hand, effective resource management can optimize the overall production process significantly. Even, sustainable cost management plays a strategic role in maximizing profitability. It has been identified that sustainable cost management can ensure adequacy of agricultural produce as per the market demand. Precisely, the cost management strategies of agribusinesses must be developed referring to the economic fluctuations and competitive market dynamics.
• Technology Adoption
Adoption of advanced technologies can significantly enhance the supply chain efficiency of agribusiness operations. It has been identified that the agribusinesses can track and trace products throughout the supply chain by implementing blockchain-based systems and advanced IT-driven digital platforms (Lezoche et al. 2020). Even, technologies such as satellite imagery can optimize remote monitoring and surveillance of agricultural operations. The same can enable the managers to identify potential opportunities and risks. In a nutshell, technology adoption plays a significant role in modernizing agribusiness operations. Adoption of A.I. featured Bigdata analytics enables to initiate data-driven decisions for improved resource efficiency.
In other words, embracing technology empowers agribusinesses to operate more efficiently by minimizing environmental impact, reducing costs, and attaining the shifting demands of the competitive marketplace. Precisely, the same collectively contribute to the sustainable long-term growth of the sector.
• Market Access and Export
Based on the information provided in the selected article, market access and export play significant roles in driving the business growth and competitive sustainability of agribusinesses (Moguluwa et al. 2021). In particular, exportation presents significant potential for maximizing revenue growth and market expansion beyond geographical limitations. As initially informed, Agribusinesses must prioritize the implementation of advanced quality control measures throughout the supply chain and production process so that the products meet the required standards for exportation. It is essential to build strategic partnerships with the distributors and the logistics providers. As stated in the article, strong distribution networks are essential for strategic market penetration and prompt product delivery.
In addition, effective market intelligence plays a significant role in identifying export opportunities and understanding customer demand. Precisely, comprehensive analysis is required to shed light on regulatory compliance, quality assurance and distribution network development. Relating to this information, agribusinesses can enhance overall competitiveness and capitalize on the opportunities both at the domestic and international landscape by investing in these key areas. Along with this, investing in certifications including Hazard Analysis and Critical Control Points and Good Agricultural Practices can enhance product safety and product quality (Nguyen & Jolly, 2020). This approach eventually contributes to increasing competitiveness and market acceptance.
• Sustainable Practices
Sustainable practices need to be introduced in order to ensure longevity of agribusinesses at the global scale. In other words, adoption of effective sustainable practices can shape modernization of agribusinesses to a great extent. Nowadays, the increasing requirement of organic farming has been identified as also indicated in the selected article (Moguluwa et al. 2021). Organic farming methods prioritize pest control measures and the use of natural fertilizers. In addition, Organic farming encourages soil fertility and prevents soil erosion to some extent. Water conservation strategies such as rainwater harvesting and drip irrigation optimize water usage and potentially mitigate the impact of water scarcity on agricultural production (Donner et al. 2021). In addition, proper waste management plays a significant role in sustainable agribusiness management. The same is also highlighted in the case study. It has been identified that agribusinesses can promote circularity in agricultural systems by implementing recycling and composting programs. It is relevant to state in this context that multi-layered recycling encourages effective waste management in agricultural systems.
Current Sustainable Management Practices in Nigerian Agribusiness
According to the information stated in the particular article, it is essential to shed light on these following aspects when it comes to discuss Sustainable Management Practices in Nigerian Agribusiness in recent times (Moguluwa et al. 2021).
• Investment in Infrastructure
Infrastructure development is highly significant for the sustainable growth of agribusiness in Nigeria. It has been identified that investments in transportation networks, cold storage facilities etc. eventually improve supply chain efficiency. The same contributes to minimize post-harvest losses, and strategically enhance product quality. Apart from that, investments in renewable energy infrastructure and irrigation systems contribute to resource conservation to a great extent.
• Value Chain Integration
It has been identified that Agribusinesses in Nigeria are increasingly integrating their value chains in order to enhance sustainability and efficiency. The same includes closer collaboration between processors, farmers, retailers and distributors in order to optimize operations, improve product quality and reduce agricultural waste (Manyise & Dentoni, 2021). In addition, the value chain integration enables better price negotiation and market access.
• Capacity Building and Training
It is essential to arrange capacity building initiatives and well-designed training programs for enhancing the knowledge and skills of the agribusiness professionals and farmers in Nigeria. The information obtained from the selected article has claimed that training on sustainable practices, modern farming techniques, and market-oriented approaches can empower the stakeholders to improve quality, productivity, and overall competitiveness (Moguluwa et al. 2021).
• Promotion of Value-Added Products
The article has unveiled the way how diversification into value-added products can maximize further opportunities for enhancing competitiveness and profitability in Nigerian agribusiness (Moguluwa et al. 2021). Even, agribusinesses can access niche markets by adding value through packaging, processing, and branding. It is significant to state that value addition can create employment opportunities and boost economic development in rural areas. Eventually, the same contribute to food security and poverty alleviation.
Conclusion
The selected case study has emphasized on the key factors driving sustainable management in agribusiness with a particular focus on competitiveness, cost management, technology adoption, market access, and sustainable practices. A wide range of efforts has been observed in Nigerian agribusiness in recent times. In addition, infrastructure development, value chain integration, capacity building, quality assurance etc. has indicated the Nigerian agricultural sector's commitment to strategically dealing with the contemporary challenges. In other words, these initiatives reflect a strategic approach towards reducing waste, and improving efficiency. Even, strategic interventions are indeed required to overcome the contemporary challenges in agribusiness. Apart from that, the selected article has unveiled why it is essential to capitalize on the emerging opportunities in order to shape sustainable business growth of Nigerian agribusiness over the period.
Reference list
Donner, M., Verniquet, A., Broeze, J., Kayser, K., & De Vries, H. (2021). Critical success and risk factors for circular business models valorising agricultural waste and by-products. Resources, Conservation and Recycling, 165, 105236. Retrieved from: https://doi.org/10.1016/j.resconrec.2020.105236 [Retrieved on 17 March 2024]
Lezoche, M., Hernandez, J. E., Díaz, M. D. M. E. A., Panetto, H., & Kacprzyk, J. (2020). Agri-food 4.0: A survey of the supply chains and technologies for the future agriculture. Computers in industry, 117, 103187.Retrieved from: https://www.sciencedirect.com/science/article/am/pii/S0166361519307584 [Retrieved on 18 March 2024]
Manyise, T., & Dentoni, D. (2021). Value chain partnerships and farmer entrepreneurship as balancing ecosystem services: Implications for agri-food systems resilience. Ecosystem Services, 49, 101279. Retrieved from: https://doi.org/10.1016/j.ecoser.2021.101279 [Retrieved on 17 March 2024]
Moguluwa, S. C., Odugbesan, J. A., Rjoub, H., & Iloka, C. B. (2021). Cost and competitiveness of agricultural produce in Nigeria: impact on exportation. Custos E
Agronegocio On Line, 17(2), 64-86. Retrieved from: https://www.researchgate.net/profile/Chiemelie-Iloka-2/publication/354528759_Cost_and_competitiveness_of_agricultural_produce_in_Nigeria_impact_on_exportation/links/613cf8a9e4419c5e6ec6b986/Cost-and-competitiveness-of-agricultural-produce-in-Nigeria-impact-on-exportation.pdf [Retrieved on 18 March 2024]
Nguyen, T. A. T., & Jolly, C. M. (2020). Global value chain and food safety and quality standards of Vietnam pangasius exports. Aquaculture reports, 16, 100256. Retrieved from: https://doi.org/10.1016/j.aqrep.2019.100256 [Retrieved on 18 March 2024]
Shabanov, V. L., Vasilchenko, M. Y., Derunova, E. A., & Potapov, A. P. (2021). Formation of an export-oriented agricultural economy and regional open innovations. Journal of Open Innovation: Technology, Market, and Complexity, 7(1), 32. Retrieved from: https://doi.org/10.3390/joitmc7010032 [Retrieved on 17 March 2024]
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