1. Farm Management: What Is It All About?
Kay and Edwards Chapter 1

2. Present and Future Issues Facing Farm Managers
The age of information and technology
Financial management
Human resources
Producing to meet consumer demands
Environmental and health concerns

3. The Age of Precision Farming
Technology has allowed better data collection, analysis, and interpretation
GPS
Personal computers
More accurate tests and instantaneous results
Animal specific data collection
Greater access to off-farm data and consultation through the use of the Internet

4. The Age of Precision Farming Cont.
Agricultural technology is one of the most difficult issues for a farm manager
Agricultural technology is growing at an incredible rate
Cost-benefit analysis has become an important tool to the farm manager for analyzing technology adoption
Technology can have many effects, e.g., increased yields, lower input costs, create a more uniform product or a new product, reduced impact on the environment, etc.

5. Financial Management Issues
Finding capital to finance operations 
Keeping detailed records of financial performance and credit needs
Conforming to generally accepted accounting principles (GAAP) 
Deciding whether to deal with financial matters in-house or to hire it out

6. Financial Management Issues Cont.
Obtaining the knowledge to read, interpret, and use the accounting information from the farm
Maintaining control over the assets
Ability to develop cash-flow documents that extend over many periods

7. Human Resources Issues
Decide whether to hire an employee versus hiring the job out, e.g., having a full time vet, or part time versus full time employee
Decide the level of specialization each employee will have 
Paying favorable wages, providing competitive benefits, and maintaining suitable working conditions for employees
Managing labor contractors

8. Human Resources Issues Cont.
Managing labor is a necessary skill a farm manager must have
Some of the skills include:
Motivational
Evaluation
Communication
Training of personnel

9. Consumer Demand Issues
Producing differentiated products to recapture some of the marketing margin
Understanding the economics of consumer demand and free trade
Understanding production economics

10. Consumer Demand Issues Cont.
Focusing on a global market
Deciding whether to focus on commodities or characteristics
Understand the marketing chain

11. Environmental and Health Issues
Must know and understand the regulations pertaining to health and environmental issues
Must be able to capitalize on being environmental or producing safer products
Must realize that there is a segment of consumers who care about the environment, food safety, animal welfare, and worker issues including safety and a living wage

12. Environmental and Health Issues Cont.
Must be able to handle agricultural waste in an environmental fashion
Must realize that environmental and health issues are the new trade barriers