Cover image for Applied risk management in agriculture
Title:
Applied risk management in agriculture
Personal Author:
Publication Information:
Boca Raton, F.L. : CRC Press, c2010
Physical Description:
xv, 403 p. : ill. ; 24 cm.
ISBN:
9781439809730

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30000010292938 HD1761 H63 2010 Open Access Book Book
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Summary

Summary

Defining the fundamentals of building a risk management plan, Applied Risk Management in Agriculture uses strategic management to organize the process of risk management. A time-tested procedure inside and outside the business community, this technique provides an ideal platform for organizing risk.

Making complex principles easily accessible to students without compromising the rigor needed to manage risks capably, this textbook presents 10 easy-to-follow steps and a strategic framework to organize and develop a relevant and practical risk management plan. These steps fall neatly into three traditional stages of strategic risk management, and the practical, formulaic framework accommodates a breadth of information. The text covers strategic, operational, and tactical needs; decision-making processes; and the prediction and probability of outcomes. It is supported by a website that is designed to help students learn and apply the 10 risk management steps. The site provides pedagogical tools for instructors and keeps the text up to date.

The editor and contributors also discuss a more traditional view of risk management, making this a complete system for managing risks that can be used to create realistic applications in an educational setting. With this information, students can build complex risk management plans using the innovative Risk Navigator SRM program, supplement this framework with traditional tools, and then move on to customizing complicated problems with advanced tools when ready.


Author Notes

Dana L. Hoag is a professor in the Department of Agriculture and Resource Economics at Colorado State University, Ft. Collins.


Table of Contents

Dana HoagDana HoagAaron Sprague and Catherine KeskeDana Hoag and John P. HewlettDuane GriffithDana Hoag and Catherine KeskeJohn P. HewlettDana HoagJay Parsons and Dana HoagCatherine Keske and Dana Hoag and Eihab FathelrahmanDana Hoag and Eihab Fathelrahman and Jim AscoughJohn P. HewlettJames PrichettJay ParsonsDuane GriffithJohn P. Hewlett and Dana HoagDana Hoag and Jay ParsonsDana Hoag and Duane Griffith
Prefacep. ix
Acknowledgmentsp. xi
Editorp. xiii
Contributorsp. xv
Section I Introduction
Chapter 1 Introductionp. 3
Chapter 2 Managing Risks and Risky Decisionsp. 9
Chapter 3 A Case Study of EWS Farmsp. 19
Chapter 4 The Strategic Risk Management Process©p. 39
Section II The Strategic Risk Management Process
Chapter 5 Step 1: Get a Financial Health Checkupp. 51
Chapter 6 Step 2: Determine Risk Preferencesp. 91
Chapter 7 Step 3: Establish Risk Goalsp. 109
Chapter 8 Step 4: Prioritize Risksp. 149
Chapter 9 Step 5: Identify Risk Management Alternativesp. 169
Chapter 10 Step 6: Determining the Likelihood of Outcomesp. 191
Chapter 11 Step 7: Choose the "Best" Risk Management Alternativep. 219
Chapter 12 Steps 8 through 10: Manage Operational Risksp. 243
Section III Advanced and Customized Risk Management Programming
Chapter 13 Marketing and Price Riskp. 271
Chapter 14 Production Riskp. 299
Chapter 15 Understanding Your Financial Statements and Ratios for Risk Managementp. 323
Chapter 16 Human and Institutional Riskp. 343
Chapter 17 Ag Survivorp. 357
Chapter 18 Building Customized Risk Management Plansp. 369
Indexp. 385