Applied Risk Management in Agriculture (Hardback) book cover

Applied Risk Management in Agriculture

Edited by Dana L. Hoag

© 2009 – CRC Press

419 pages | 145 B/W Illus.

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pub: 2009-10-20
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Description

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.

Reviews

"…the text presents ten easy steps and a strategic framework to organize and develop relevant and practical risk management plans. These steps fall neatly into three traditional stages of strategic risk management, and the practical formulaic framework accommodates a breath of information. The book covers, strategic, operational, and tactical needs, decision-making processes, and the prediction and probability of results. It is supported by a Risk Navigator website that supplies tips and a user guide for the software and keeps information up to date."

--Abstracts of Public Administration, Development, and Environment, 2010

Table of Contents

Introduction

Introduction, D. Hoag

Managing Risks and Risky Decisions, D. Hoag

A Case Study of EWS Farms, A. Sprague and C. Keske

The Strategic Risk Management Process, D. Hoag and J. Hewlett

The Strategic Risk Management Process

Step 1: Get a Financial Health Checkup, D. Griffith

Step 2: Determine Risk Preferences, D. Hoag and C. Keske

Step 3: Establish Risk Goals, J.P. Hewlett

Step 4: Prioritize Risks, D. Hoag

Step 5: Identify Risk Management Alternatives, J. Parsons and D. Hoag

Step 6: Determining the Likelihood of Outcomes, C. Keske, D. Hoag, and E. Fathelrahman

Step 7: Choose the "Best" Risk Management Alternative, D. Hoag, E. Fathelrahman, and J. Ascough

Steps 8 through 10: Manage Operational Risks, J.P. Hewlett

Advanced and Customized Risk Management Programming

Marketing and Price Risk, J. Prichett

Production Risk, J. Parsons

Understanding Your Financial Statements and Ratios for Risk Management, D. Griffith

Human and Institutional Risk, J. Hewlett and D. Hoag

Ag Survivor, D. Hoag and J. Parsons

Building Customized Risk Management Plans, D. Hoag and D. Griffith

Index

About the Editor

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

Subject Categories

BISAC Subject Codes/Headings:
SCI020000
SCIENCE / Life Sciences / Ecology
TEC003000
TECHNOLOGY & ENGINEERING / Agriculture / General
TEC010000
TECHNOLOGY & ENGINEERING / Environmental / General