1. Measuring Success

2. ©2004 Actimax Learning Inc.2 Key Concepts Business management using a food systems approach Production efficiency Economic vitality Environmental sustainability Social responsibility

3. ©2004 Actimax Learning Inc.3 Think about… Where your food comes from? How was it produced? Was it produced in a way that damaged the environment or hurt small, local businesses? Should businesses measure success based on how much money they make? What other non-financial factors should businesses use to measure their success?

4. ©2004 Actimax Learning Inc.4 A Food Systems Approach Many agricultural businesses measure success based on Production efficiency Economic vitality “Soft side” of doing business is based on Environmental sustainability Social responsibility

5. ©2004 Actimax Learning Inc.5 Soft Side of Doing Business Human and social dimensions of consumers Beliefs Values Perceptions Ecology Study of human interactions in the environment “Ecological paradigm”

6. ©2004 Actimax Learning Inc.6 Revisit Business Mgt Cycle Think about how you would manage your business differently using a food systems approach Would your investments be different? Would your financial decisions be different? Would your operations (production, services, marketing) be different?

7. ©2004 Actimax Learning Inc.7 The Future of Agriculture Agricultural businesses have been driven by Production efficiency Economic vitality Examples in mass media raise questions about Environmental sustainability Social responsibility

8. ©2004 Actimax Learning Inc.8 Agree or Disagree? “Agriculture has a moral obligation to produce a safe and abundant food supply for the United States and the world. But in so doing, we must take into account our impact on communities and the environment.” Dr. Bobby Moser

9. ©2004 Actimax Learning Inc.9 Future of the Food System Depends on Consumer preferences and values Environment Society and communities Successful entrepreneurs who adapt

10. ©2004 Actimax Learning Inc.10 Successful Entrepreneurs Manage their businesses based on functions Planning, deciding, accounting, and analyzing Use cornerstone activities Investing, financing, and operating (Producing, servicing, marketing) Measure success Production efficiency and economic vitality Environmental sustainability and social responsibility

11. ©2004 Actimax Learning Inc.11 Review Questions Review the business management cycle from Part 1 using a food systems approach. How can you define success for a business? For you personally? What are some ways that entrepreneurs can be successful?

12. ©2004 Actimax Learning Inc.12 Review Questions How can a business be productively efficient? How can a business be economically viable? How can a business be environmentally sustainable? How can a business be socially responsible?

13. ©2004 Actimax Learning Inc.13 Are you ready for success? From Planting to Harvest From Profit to Equity From Green to Gold From Uncertainty to Autonomy