Outline the meaning and definition of farm management

Meaning:

Farm Management comprises of two words i.e. Farm and Management.

Farm means a piece of land where crops and livestock enterprises are taken up under common management and has specific boundaries.

Farm is a socio economic unit which not only provides income to a farmer but also a source of happiness to him and his family. It is also a decision making unit where the farmer has many alternatives for his resources in the production of crops and livestock enterprises and their disposal. Hence, the farms are the micro units of vital importance which represents centre of dynamic decision making in regard to guiding the farm resources in the production process.

The welfare of a nation depends upon happenings in the organisation in each farm unit. It is clear that agricultural production of a country is the sum of the contributions of the individual farm units and the development of agriculture means the development of millions of individual farms.

Management is the art of getting work done out of others working in a group. Management is the process of designing and maintaining an environment in which individuals working together in groups accomplish selected aims.

Management is the key ingredient. The manager makes or breaks a business. Management takes on a new dimension and importance in agriculture which is mechanised, uses many technological innovations, and operates with large amounts of borrowed capital.

The prosperity of any country depends upon the prosperity of farmers, which in turn depends upon the rational allocation of resources among various uses and adoption improved technology. Human race depends more on farm products for their existence than anything else since food, clothing – the prime necessaries are products of farming industry. Even for industrial prosperity, farming industry forms the basic infrastructure. Thus the study farm management has got prime importance in any economy particularly on agrarian economy.

Definitions of Farm Management:
1. The art of managing a Farm successfully, as measured by the test of profitableness is called farm management. (L.C. Gray)
2. Farm management is defined as the science of organisation and management of farm enterprises for the purpose of securing the maximum continuous profits. (G.F. Warren)
3. Farm management may be defined as the science that deals with the organisation and operation of the farm in the context of efficiency and continuous profits. (Efferson)
4. Farm management is defined as the study of business phase of farming.
5. Farm management is a branch of agricultural economics which deals with wealth earning and wealth spending activities of a farmer, in relation to the organisation and operation of the individual farm unit for securing the maximum possible net income. (Bradford and Johnson).

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raphael answered the question on August 12, 2021 at 05:25