FARM MANAGEMENT AREC 306 Spring Semester, 2007, Mondays, 3:00-5:45 PM Room 0200 Symons Hall Mission of AREC 306
Operating a farm or other small business is difficult. The mission of AREC 306 is to improve participant’s understanding of principles, practices, and skills useful for leading and managing a farm or other small business and to increase their appreciation for the business and lifestyle of farming. 
Course Facilitator: Dale M. Johnson, dmj@umd.edu Facilitator background: http://www.arec.umd.edu/djohnson/ Office: 2112A Symons Hall Office Hours: Mondays 10:00 AM - noon, or by appointment Telephone: 301-405-1275 Symons Hall office or 301-432-2767 ext.325 WMREC office Teaching Assistant: Katelin Kemp Office: 2112A Symons Hall Office Hours: ?, or by appointment Text: Notebook and handouts provided by facilitator, suggested readings Grading: Exam 1. 25% October 9 Exam 2. 25% November 13 Exam 3. 25% To be announced (Comprehensive) Business plan oral presentation 5% Business plan semester project 10% due December 11 Homework & participation 10% Academic Integrity
The University has approved a Code of Academic Integrity available on the web at: http://www.studentconduct.umd.edu/aca/honorpledge.html, which will be adhered to in this course. Accommodations for Students with Disabilities
The University will provide appropriate accommodations for students with documented disabilities. In order to ascertain what accommodations may need to be provided, students should inform the instructor of their needs at the beginning of the semester. Religious Observances
The University System of Maryland policy on religious observances provides that students should not be penalized because of observances of their religious beliefs; students shall be given an opportunity, whenever feasible, to make up within a reasonable time, any academic assignment that is missed due to individual participation in religious observances.
Business Plan Project
Each student will participate in developing a business plan for a small business. Students will form teams of 4 to develop the plans. Students can form their own teams or the instructor will assist in forming the teams. Teams will be formed by the end of class on September 13. Teams will determine the type of business they will to plan. An agricultural business is preferable but other types of businesses can also be considered. Teams will need to meet outside of class to do some of the work. Team members can do some of the work individually as agreed upon by the team. Teams will present a their business plans to the entire class - 20 minutes to present the plans and 10 minutes for questions. Teams should use Microsoft PowerPoint and/or Excel to make these presentations. A computer and projector will be available to make the presentation. Business plans should follow the outline presented in class. They should be 8 pages long and should look very professional. Microsoft Word, Excel, and PowerPoint should be used to publish the business plan. They are due on December 6.
Video Observations
Exam questions will also cover videos on reserve at nonprint media services, Hornbake library. Study these videos and take notes as though they were textbooks. Exam questions will be detailed.
Exam 1 will cover “Leadershift: five lessons for leaders in the 21st century”, call number HN 57.7.L424 and “Discovering the future, the power of vision”, call number HD 30.23.D57 Exam 2 will cover “New Business of Paradigms”, HN17.5.N474 (watch both Classic and 21st century editions on the video tape) Exam 3 will cover “Paradigm pioneers”, call number HD 30.27.P37 Tentative Course Schedule
Date and topics
Reference
January 29
Success pyramid
Handout
Leadership and management of the farm business
Fact sheet 667
Focusing dreams: creating a mission
Fact sheet 668
Being proactive
Handout
February 5 Homework due
Strategic planning: drafting a blueprint for your business
Fact sheet 670
SMART goal setting
Fact sheet 670
Time management: making the most of a limited resource
Fact sheet 671
Effective decision making
Handout
Get a coach
Handout
February 12 Homework due
Guest speaker
Resource inventory
Handout
Production plan
Handout
Economic principles for production planning: production levels, input & output combinations
Fact sheet 548
Febraury 19 Homework due
Guest speaker
Enterprise budgeting
Fact sheet 545
Production plan summary
Handout
Febraury 26 Exam 1.
March 5
Financial plan
Handout
Diagnosing financial health: solvency, profitability, & liquidity
Fact sheet 538
Assessing and improving solvency: the balance sheet
Fact sheet 540
March 12 Homework due
Guest speaker
Handout
Assessing and improving profitability: the income statement
Fact sheet 539
Assessing and improving cash flow
Fact sheet 541
March 26 Homework due
Choosing an accounting system
Handout
Depreciating and valuing assets
Handout
Choosing the right business organization & business structure agreement
Handout
April 2 Homework due
Guest speaker
Marketing plan
Hand out
April 9 Exam 2.
April 16
Time value of money
Fact sheet 543 and handout
Valuing land
Handout
April 23 Homework due
Team presentations
Partial budgeting
Machinery economics
Fact sheet 457 Handout
April 30 Homework due
Team presentations
Human resource management
Handout
May 7 Business plan project due
Semester review
May (to be announced) Exam 3
| 
ShareThis