principles of agribusiness management

ABIZ1000, Winter 2018, International College of Manitoba

International College of Manitoba Introduction to Agribusiness Management ABIZ1000 Winter 2018 Course Information Lecture hours: Monday 8:30 am – 12:30 pm Classroom: 211 Fitzgerald building Instructor: Jing Han Office hours: Monday from 12:30 pm to 1:30 pm or by appointment Office: Room 138, Fletcher Argue Building Email: [email protected] Telephone: 204-2905905 Important Dates Midterm Exam: February 25th, 2018 (Duration: 120 minutes. Time: 8:30 am – 10:30 am) No class on February 19th, 2018. (Makeup class: February 25th, 2018, 8:30 am - 12:30 pm) Final Exam: TBA (Duration: 2 hours) Deadline of Business Plan Report: April 02nd, 2018 at the beginning of class. Voluntary Withdrawal Date (without academic penalty): March 16th, 2018 Withdrawal Date (without financial penalty): January 26th, 2018 Course Description Welcome on board! As the first university course in agribusiness and agricultural economics, the Introduction to Agribusiness Management is aimed at studying the basic business concepts and tools used for analyzing and managing an agribusiness. Concepts covered include introductions to agricultural products and services, marketing management, consumer demand, risk management, production management, finance, accounting and human resource management. Course Objectives By the end of this course students should be able to: - Describe the scope and function of the agri-food system and the important role of marketing. - Apply microeconomic concepts to understand consumer demand and related pricing strategies. - Employ forecasting and budgeting procedures for business planning. - Demonstrate knowledge of a good organizational scheme and firm’s legal structure. - Learn how to calculate optimal output level by conducting break-even, cost analysis, etc. - Analyze financial statements and use of accounting information in decision making. - Use spreadsheet skills to process information, analyze data, and generate reports. 1|Page

ABIZ1000, Winter 2018, International College of Manitoba

- Design a business plan for a potential business opportunity in a real-world setting. Required Textbook Beierlein, J., K. Schneeberger, and D. Osburn 2014, Principles of Agribusiness Management, 5th Edition. Long Grove: Waveland Press, Inc. ISBN: 978-1-4786-0566-9. The print version is available at the University of Manitoba Bookstore (140 University Center). Course Portal (Moodle) All the course materials will be posted on Course Portal (https://learning.icmanitoba.ca), which includes course outline, lecture slides, assignments, practice questions, important announcements, the business plan guidelines and examples, grades, and other pertinent information. It is your responsibility to check the updated information on Course Portal timely and frequently during the term.

Course Evaluation and Schedule There will be One Midterm (28 percent), One Written Project Report & Group Presentation – Business Plan (16 percent), Two Individual Assignments (12 percent), Course Participation (6 percent) and One Comprehensive Final Exam (38 percent). Business Plan - Written Report & Group Presentation Assignment 1 Assignment 2 Mid-term Exam Comprehensive Final Exam

Due April 02nd, 2018 in the class Due March 12th, 2018 in the class Due March 26th, 2018 in the class February 25th, 2018 in the class TBA

Grade Evaluation Task Written Report (11%) and Group Presentation (5%) – Business Plan Individual Assignments (2 Assignments × 6% each) Mid-term Exam Comprehensive Final Exam Class participation and attendance Total Grade Assignment Grading will be based on the following conversion of marks to letter grades. A+: 90%-100% A: 80%-89.9% B+: 75%-79.9% B: 70%-74.9%

Weight 16% 12% 28% 38% 6% 100%

ABIZ1000, Winter 2018, International College of Manitoba

C+: 65%-69.9% C: 55%-64.9% D: 50%-54.9% F: 0%-49.9% All final grades are subject to the approval by course advisor of Department of Agribusiness and Agricultural economics and ICM office.

Performance Assessment 1. Business Plan - Written Report (11%) and Group Presentation (5%) The business plan will give the student an opportunity to apply concepts and skills learned in class to a real-world business situation. Students will be assigned to work in a group of FIVE to SIX students. The topic of the business plan will be discussed during the second week of classes. All business plan ideas must be submitted and approved by the instructor no later than the third week of classes. The format of business plan written report is minimum 15 pages in length (double-spaced; 12font) (Excluding SWOT table and other graphs). The business plan must include all the required elements, but it will be graded based on the efforts, creativity, and thoughtfulness. Address your written critiques to the promoter(s) of the business and cover what are the internal strengths, weaknesses and how to cope with external challenges and threats to maintain the comparative advantages. Please see the followings for detailed rules. •

Students are required to participate actively in group discussion/meeting and discuss and share the information with their group members. Each group must submit only ONE report (hard copy) at the beginning of class on April 02nd, 2018.

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Each group needs to prepare a powerpoint for the presentation and submit printout copy of similar presentation slides on April 02nd, 2018.

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Students are required to meet with professor individually and sign off individual peer contribution form in the class on April 02nd, 2018, and must not share the information with their group members)

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Business Plan will be assessed on both group and individual level. The grades reflected on individual peer contribution form will be included into final evaluation of the business plan.

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ABIZ1000, Winter 2018, International College of Manitoba

Notes: NO LATE REPORT will be accepted. A business plan that is not submitted at the beginning of class on April 02nd, 2017 will receive a mark of zero. Business plan guidelines will be available on the course portal and will be discussed in the second week of classes. The group presentation will be arranged on the last day of the class to demonstrate the structures, main points and relevant information of your business plan. The details of group presentation will be explained during class time and each student in the group will be assigned the equal responsibility to present certain part of the project. The followings are the relevant requirements of a group presentation. • • •

Each group will write a business plan and give a 20-minute presentation to the class. Group presentations will be held on the last day of classes (April 02nd, 2018). No make-up presentations will be permitted. Students who are unable to make their presentation on the prescribed date(s) will receive a grade of zero.

Note: To avoid interruptions and distractions during presentations, the classroom door will be locked during the presentation session with the exception of scheduled break time. Students who arrive late will not be admitted into the classroom under any circumstance until the session concludes.

2. Mid-term Exam (28%) The exam questions will examine your ability to define agribusiness terms and your understanding of the concepts covered throughout the course. The questions will be based on the lecture notes, textbook, and all other readings assigned in class. The term exams may contain multiple choice questions, case analysis, short answer questions, and quantitative analysis questions. The exams are designated as “closed book and closed notes” tests. Note: Exceptional circumstances beyond the student's control: NO make-up exam(s) will be scheduled for the midterm examination for those who have a legitimate absence (i.e. illness supported by a medical certificate), the value of the midterm examination (or component thereof) will be added to the value of the final examination. Students who miss the mid-term without a valid medical excuse and or compassionate reason will receive a mark of zero.

3. Individual Assignments (2 Assignments × 6% each) The assignments consist of two individual assignments comprised of a number of computer business applications. It will help you generalize the agribusiness concepts and apply them to concrete situations. Guidelines will be available on the course portal and will be discussed at least one week before the due date.

ABIZ1000, Winter 2018, International College of Manitoba

Note: Assignments must be typed, double-spaced, on 8.5” by 11” paper, using 12-point Times New Roman font. Every student must submit a hardcopy (no email submissions).

4. Attendance and Participation (6%) Attendance is mandatory as requested by ICM. Attendance will be taken for ICM records for follow-up of student welfare and instructor assessment of participation. No points will be awarded only for the attendance. The frequency, quality, and scope of participation that can be assessed based on following policies. Attend lectures to maximize success in this course. Exam questions are based mainly on lecture notes and some materials I will present in the class. I strongly suggest completing the assigned reading and reviewing the previous lecture notes before coming to the class. If you need any help, talk to me either after class or during my office hour. Participation, Attendance & Professionalism Criteria Outstanding (5.01 – 6 %): Demonstrates consistent on-time attendance, preparation, and constructively contributes to all class activities and discussions; consistently demonstrates insight by asking questions, making statements that add to and facilitate the class discussion or building upon others' comments. Consistently demonstrates respect for the professor and other classmates. Very Good (5.01 – 4 %): Demonstrates consistent on-time attendance, preparation, and constructively contributes in all class activities and discussions; demonstrates insight by asking questions or making statements that are relevant, add to, and facilitate the class discussion. Fair (4.01 – 2 %): Demonstrates consistent attendance and preparation; occasionally contributes to class discussions, regularly participates in other class activities; may occasionally arrive late to class. Generally, demonstrates respect for the professor and other classmates. Poor (2.01 – 1%): Demonstrates inconsistent attendance/timeliness/contribution in class activities; may occasionally be unengaged in class activities and/or is disruptive/distracting or disrespectful in class; is frequently not prepared, regularly arrives late to class; occasionally reads the newspaper, falls asleep or uses laptop/cell phone, etc. during class. Fail (1.01 – 0 %): Demonstrates consistently poor attendance and consistently poor preparation; is unengaged or fails to contribute in class activities; may be disruptive/distracting or disrespectful in class to others; occasionally reads the newspaper, falls asleep or uses laptop/cell phone, etc. during class.

5. Comprehensive Final Exam (38%) The Final Exam may contain multiple choice questions, quantitative problems, and analysis, short answer explanations, completion questions or short case analysis. They will include questions, which require you to analyze, understand and explain situations. The final exam will cover all the materials introduced in this course, but different weight may be applied to different chapters. The schedule of the final exam will be TBA. Please see the following policies of the final exam. 5|Page

ABIZ1000, Winter 2018, International College of Manitoba

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Attention! Students must take the final exam in order to pass the course.

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Students need to be prepared to show photo ID at the exam and will be required to do so at the final exam

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Basic calculators or financial calculators may be used for the exams. Cell Phones with calculators, PDA’s, other Organizers, or programmable calculators (e.g. Graphical Calculators) will NOT be permitted to be used as calculators. Cell phones must be turned off during all classes and exams.

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The use of electronic translators by students with English as a second language is permitted.

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Students must be punctual. Those who enter the test room ten minutes later than the starting time scheduled will NOT be allowed to write the exam.

Academic Integrity ICM expects that students will approach their academic activities with honesty and integrity. Students are responsible for being aware of ethical behavior in their academic work and are expected to ask for information and clarification to ensure they adhere to the principles of academic integrity. 1. All students must review the information from the Faculty of Arts regarding Academic Integrity, Penalties for Academic Dishonesty, Avoiding Academic Dishonesty, and Resources to Help You Maintain Academic Integrity. 2. The full excerpt of the ICM Academic Integrity Policy (below) ACADEMIC INTEGRITY ICM expects that students will approach their academic activities with honesty and integrity. Students are responsible for being aware of ethical behavior in their academic work and are expected to ask for information and clarification to ensure they adhere to the principles of academic integrity. 3.3.1 Cheating and Plagiarism ● Collusion occurs when two or more individuals combine their efforts in order to deceive the instructor as to who is responsible for a particular piece of work. ● Cooperation may be permitted by an instructor in certain circumstances, where a joint study effort, class presentation or group project forms an appropriate part of the overall assessment. ●Plagiarism occurs when a student copies the ideas, word, sentences, diagrams and other forms of work, without acknowledging the source of the work used. This includes work done by other students on previous occasions. Copying someone else’s work without acknowledgment and all other forms of cheating, collusion or plagiarism is viewed harshly at ICM, regardless if the student is ‘aware’ of the offense. The ICM policy on cheating and plagiarism applies to all UTP courses. All incidents of cheating, plagiarism, collusion or interference with other students’ academic work and performance will be referred to the Academic Manager. Students found in breach of the regulations related to cheating and plagiarism will be subject to the following measures:

ABIZ1000, Winter 2018, International College of Manitoba

• First Offence: Student will be awarded ‘0’ marks for the assessment and given a permanent record on their file • Second Offence: Student will be awarded ‘F’ for the course, regardless whether the second offense was committed in the same course or another course • Third Offence: Student risks expulsion from ICM and the cancellation of their studies with ICM. Instructors will initially meet with the student to discuss the incident, and to determine whether the student requires additional training with respect to the behavior. All incidents of academic misconduct will be recorded in a ‘Letter of Allegation’, with one copy given to the student and another kept in the student’s file. The Academic Manager will meet with all students who receive a Letter of Allegation to discuss the incident and provide an opportunity for the student to address the allegation. The Academic Manager will also determine the need for additional education regarding academic integrity and to review the consequences of subsequent violations. Please note that some evaluative feedback will be provided before the voluntary withdrawal (no financial penalty) deadline. Also note that NO ACADEMIC penalty withdrawal date is March 16th, 2018. NO FINANCIAL penalty withdrawal date is January 26th, 2018. For details please see 2018 ICM Student Handbook.

Student Accessibility Services ICM and the University of Manitoba are committed to providing all students equal access to learning opportunities. “This means that our classroom, our virtual spaces, our practices, and our interactions should be as inclusive as possible. Mutual respect, civility, and the ability to listen and observe others carefully are crucial to universal learning.” Student Accessibility Services (SAS) is the office that works with students who have permanent, chronic, or temporary disabilities to provide and/or arrange reasonable accommodations. •

Students who have, or think they may have, a disability (e.g. mental health, attentional, learning, vision, hearing, physical, medical or temporary), are invited to contact Student Accessibility Services to arrange a confidential discussion at (204) 474-7423 (V), (204) 474- 9790 (TTY) or [email protected].

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Students registered with Student Accessibility Services and who have a letter requesting accommodations are encouraged to contact the instructor early in the semester to discuss the accommodations outlined in their letter. Additional information is available at the Student Accessibility Services website: www.umanitoba.ca/student/saa/accessibility/

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ABIZ1000, Winter 2018, International College of Manitoba

Other Course Policies ●If you have questions regarding the lectures, assignments, or exams, speak with the instructor at the end of any class period. If the questions cannot be answered immediately, an appointment will be booked during the office hours of the instructor. ● No talking or chatting when the instructor is delivering the lecture ● Late Attendance 30 minutes after the start of class will be assigned “Half Attendance” except for documented medical excuse and or compassionate reason. ● All students are required to be in class for all scheduled quizzes, assignments, and exams. Therefore, no one will be permitted to write make-up tests or hand in an assignment late, except for documented medical or compassionate reasons. ●The basic rule for the class is open and respectful communication. We have many things to learn from one another. All questions are appreciated, and you are encouraged to ask when things are not clear. ●Cell phones and electronic devices are a major source of disturbance in the class. So please be prudent with their use. If you have to leave the class when it is in progress, sit near the door and leave silently. Use your iPad or laptop only for the purpose of the study. NO TEXTING/USE OF PHONE IN CLASS ● Students should acquaint themselves with the ICM’s policy on plagiarism, cheating, and examination impersonation. Copying from somebody else’s assignment or written work and cheating during quizzes and exams are considered as serious academic dishonesty, which will have penalties ranging from a final grade of “F” in the course to a suspension from registration for further course work. ●Students appealing any term work whether it is informal or formal must appeal their term work within 10 working days of receiving their mark.

ABIZ1000, Winter 2018, International College of Manitoba

Tentative Lecture Schedule

Week/Lecture Lecture 1 Lecture 2 Lecture 3 Lecture 4 Lecture 5 Lecture 6 Lecture 7 Lecture 8 Lecture 9

Lecture 10

Lecture 11 *Lecture 12 *Lecture 13

Chapter from textbook 1: Global Ag System 2: Agribusiness Manager 3: Role of Marketing 4: Marketing Management 5: Consumer Demand 6: Staying Competitive 7: Forecasting, Futures, & Options Markets 8: Budgeting 9: Organizing for Success Review Midterm(chapters 1-9) 10: Legal Issues 11: Economics of Production 12: Production Management (pgs. 167175) 12: Break Even Analysis (pgs. 175-182) 12: Inventory Management (pgs. 182191) 13: Basic Accounting 14: Financial Analysis (pgs. 205-219) 14: Cash Flow (pgs. 219-227) 15: Capital Budgeting I 17: HR Leadership 18: HR Management 19: Selling

*Please note that this is a tentative schedule and the instructor reserves the right to change the schedule. Not all material in each chapter will be covered in the class. I preserve the right to choose the teaching materials from the textbook. Some chapters from the textbook will not be introduced in the class, but they could be great supplementary reading materials for this course.

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ABIZ1000, Winter 2018, International College of Manitoba

TIPS FOR STUDYING You should seek to understand and apply the knowledge in Introduction to Agribusiness Management not merely to memorize it. In order to master the subject, you need to put some effort into it and to have a plan for the study. Although, each of you may develop your own technique for studying, the following suggestions may prove helpful. For each chapter of the text:

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Before Class: ▪ read it quickly (exclude all boxes and tables) ▪ read the Chapter Summary sections at the end of each chapter After Class: ▪ re-read the chapter more carefully (include all boxes and tables) ▪ try some of the end-of-chapter questions ▪ re-read the chapter and make sure that you understand all the concepts and know all the techniques ▪ to do more practice, read the study guide and do the questions (particularly, ▪ multiple choice ones). In Class: ▪ ask questions, no matter how easy or silly they may sound, whenever you feel uncomfortable with a concept or a problem. I am here to help you!