India used to be an agrarian economy, but in the past few decades, the industry has gone ignored. But the scenario is changing and agribusiness management could be the answer all are looking for in this mostly unorganized sector of India. There is a dire need for good managers to get this whole sector organized and profitable. Therefore, there is a lot of scope for MBA in agribusiness management, so farming operations can be streamlined. From seed to final product, MBA graduates can change and improve the industry that was once the backbone of the nation. There are less educated people in this industry and farmers are left to fend for themselves. Therefore, MBAs entering this field will change things for the better.
Agriculture constitutes 18% of our economy and needs to be given its due importance. This industry could create millions of jobs and most importantly, healthy food and related products for the health of the nation. It all starts with education. India is moving from individual and low-level farming to fully commercialized farming. Therefore, we have to keep up with global trends, especially when it comes to education. Most farmers know agriculture, but do not know the business portion of it. Owing to this, they have been taken advantage of as they barely make profits on their yield. With education, students can learn farm planning, research, weather forecasting, soil management, machinery, seed production, crop nutrient management, plant protection, harvesting, storage, food processing, supply chain operations, financing, marketing and retailing of produce.
Read Further, All You Need To Know About MBA in Agribusiness
Expert managers with qualifications can help agribusiness management. If you look closely, it is not very different from any other product-based industry. It only needs organization and management.
Marketing is one of the most important disciplines in an MBA, and agribusiness management lacks marketing. This aspect can be looked into. Agriculture products can be better packaged and marketed directly to consumers without the need for middlemen. Better quality seeds and less harmful pesticides also need to be marketed, as most farmers are not aware that they can ensure their yield is better. Farming equipment is another industry with the need for marketing.
MBAs can find jobs in the Agribusiness Management Banks who lend money to agriculture companies and individual agriculture businessmen. They can analyse loan procedures better. They can create financing opportunities, and even provide insurance in case of crop failure.
This industry is lacking in management, and could use the expertise of MBAs to better develop and market farming equipment thatll reduce labour costs and improve harvesting capabilities. Technology can also be used to develop better seed and soil content.
MBA graduates can act as a bridge between producers and retail companies, cutting out agents and middlemen. They can facilitate direct buying from farmers getting a good price for the farmers and the buyers. This will ensure uniformity in product pricing, which is also beneficial to the end consumer.
MBAs can help farmers and farming companies with supply chain management. This is an integral part of any product based industry which ensures the smooth flow of production.
Agribusiness management is a growing industry, not just in India but across the globe. Management graduates can have a positive impact in this industry, and make it one of the most profitable businesses. We all know the condition of farmers and hence, we need experts who can usher them into the new age of technology and smart products, so their businesses can do well.