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Trying to measure levels of management

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By Bryce Roberts

 

The four factors of production for agricultural businesses are often described as land, labor, capital and management.  You can quantity the first three of these in specific units (acres, hours, dollars), and you can acquire additional quantities if you need them.

However, you can’t quantify management; it does not have units.  While you can hire managers, you can’t buy management.  In many surveys of farm and agribusiness owners, when asked what they need help with, they will often reply, management.


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The Spencer Magnet | circulation@spencermagnet.com | 502-477-2239
P.O. Box 219, 100 W Main Street, Taylorsville, KY 40071
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