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Current Category » Economics of Natural Resources & Farm Management

Nature and characteristics of Farm Management Science

The farm management science has many distinguishing characteristics from other fields of science. Some importance characteristics are as follow.

1) Practical Science:
The acceptability of the facts of other physical and biological sciences are tested on the farm and determine whether those are economical and practicable on a given farm situation. Thus farm management is a practical science.

2) Profitability Oriented:
The main objective of farm management is to earn maximum profit and hence this science aims to have maximum economic efficiency rather than physical efficiency. Thus, farm management science is profit oriented.

3) Integrating Science:
While operating the farm, number of findings of other sciences is actually used. Thus, farm manager has to co-ordinate all the findings of other sciences.

4) Broader Field:
The farm management specialist required to have detail information from other Sciences. Hence for successful farming information of one or two sciences is not sufficient as this science is too much broader field.

5) Micro. approach:
Since this science is related to individual farm, it treats every farm unit unique in available resources. Each farm unit therefore has to be studied and planned individually.

Current Category » Economics of Natural Resources & Farm Management