AGRIBUSINESS
Agribusiness provides members with the opportunity to gain knowledge around business in agriculture. This competitive event consists of an objective test. This event aims to inspire members to learn about agribusiness.
Event Overview
Division: High School
Event Type: Individual
Event Category: Objective Test, 100-multiple choice questions (breakdown of question by competencies below)
Objective Test Time: 50 minutes
NACE Connections: Career & Self-Development
Equipment Competitor Must Provide: Pencil
Objective Test Competencies
· Economics
· Finance and accounting
· Health, safety, and environmental management
· Management analysis and decision making
· Marketing
· Terminology and trends
District
Check with your District leadership for District-specific competition information.
State
Eligibility
· FBLA membership dues are paid by 11:59 pm Eastern Time on December 1 of the current program year.
· Members may compete in an event at the State Leadership Conference (SLC) more than once if they have not previously placed in the top 10 of that event at the National Leadership Conference (NLC). If a member places in the top 10 of an event at the NLC, they are no longer eligible to compete in that event.
· Members must be registered for the SLC and pay the state conference registration fee in order to participate in competitive events.
· Members must stay in an official FBLA hotel to be eligible to compete.
· Each district may be represented by participant(s) based on the Florida FBLA scaled quota system found on the Florida FBLA website.
· Each member can only compete in one individual/team event and one chapter event (American Enterprise Project, Community Service Project, Local Chapter Annual Business Report, Partnership with Business Project).
· If competitors are late for an objective test, they may be either disqualified or permitted to begin late with no extension of the time as scheduled.
· Participants must adhere to the Florida FBLA dress code established by the Florida Board of Directors or they will not be permitted to participate in the competitive event.
Recognition
· The number of competitors will determine the number of winners. The maximum number of winners for each competitive event is 5.
Event Administration
· This event is an objective test administered at the SLC.
· No reference or study materials may be brought to the testing site.
· No calculators may be brought into the testing site; online calculators will be provided if needed.
Tie Breaker
· Ties are broken by comparing the correct number of answers to the last 10 questions on the test. If a tie remains, answers to the last 20 questions on the test will be reviewed to determine the winner. If a tie remains, the competitor who completed the test in a shorter amount of time will place higher.
Americans with Disabilities Act (ADA)
· FBLA meets the criteria specified in the Americans with Disabilities Act for all competitors with accommodations submitted through the conference registration system by the registration deadline.
Penalty Points
· Competitors may be disqualified if they violate the Competitive Event Guidelines or the Honor Code.
Electronic Devices
· All electronic devices such as cell phones and watches of any type must not be brought to the competition.
National
Be sure to see the National guidelines at: https://www.fbla.org/divisions/fbla/fbla-competitive-events/
Study Guide: Competencies and Tasks
A. Health, Safety, and Environmental Management
1. Use tools, equipment, machinery, and technology appropriate to work within areas related to Agriculture, Food, and Natural Resources (AFNR).
2. Define what level of possible contamination or injury is considered a risk in order to set safety priorities.
3. Identify insurance needs used in agricultural business, including property, health, life, crop and liability (personal and environmental).
4. Develop response plans to handle emergencies.
5. Identify hazards and acquire first aid skills to promote environmental safety.
6. Examine required regulations to maintain/improve safety, health, and environmental management systems and sustainable business practices.
7. Enact procedures that demonstrate the importance of safety, health, and environmental responsibilities in the workplace.
8. Demonstrate methods to correct common hazards.
9. Demonstrate application of personal and group health and safety practices.
B. Management Analysis and Decision Making
1. Identify and compare the four types of agricultural business organizations: sole proprietorship, partnership, cooperative, and corporation.
2. Explain the environmental considerations of decision making in AFNR management.
3. Predict the positive and negative impact of AFNR activities.
4. Analyze the strengths, weaknesses, opportunities, and threats to an AFNR enterprise or business unit.
5. Develop an operation and/or production plan to provide required levels of product or service.
6. Develop business goals and strategies that capitalize on opportunities in an AFNR market.
7. Identify and observe ethical standards in planning and operating AFNR businesses.
C. Marketing
1. Use industry-accepted marketing principles to accomplish AFNR business objectives.
2. Communicate the importance of AFNR to general public.
3. Evaluate alternative marketing strategies, such as value-adding, branding, and niche marketings, and propose and implement appropriate modifications to achieve AFNR business goals.
4. Perform a marketing analysis, including evaluation of the competitors, customers, international and domestic policy environment, regulations and rules, standards and AFNR business resources.
5. Develop and implement marketing strategies with agricultural commodities, products, and services.
D. Economics
1. Utilize economics principles to establish and manage and AFNR enterprise.
2. Describe the role of global supply and demand on AFNR.
3. State the economic output of AFNR-related industries in the United States.
4. Evaluate the impact of AFNR activities in your local community.
5. Apply economic principles to marketing.
6. Differentiate types of ownership and outline the structure of AFNR businesses in a capitalistic economic system.
7. Classify the characteristics of successful entrepreneurs in AFNR businesses.
E. Finance and Accounting
1. Manage cash budgets, credit budgets, and credit for an AFNR business using generally accepted accounting principles.
2. Budget resources (e.g., capital, human, financial, time).
3. Manage assets for optimum utilization.
4. Manage risk of liabilities.
5. Prepare and interpret financial statements (e.g., balance sheet, profit/loss statement, cash flow statement).
6. Prepare tax forms (e.g., W-4, I9, depreciation, 1099, Workers Compensation).
7. Determine cost of doing business.
8. Compare and examine advantages and disadvantages of banking procedures (e.g., bank reconciliation).
9. Analyze investment options (e.g., buy, lease, finance, risk).
10. Calculate costs of carrying inventory.
11. Use record keeping to accomplish AFNR business objectives, manage budgets, and comply with laws and regulations.
12. Describe how to manage inventory and determine selling price.
13. Explain the importance of return on investment for an agribusiness enterprise.
F. Terminology and Trends
1. Examine economic, social, and technological changes to spotlight their impact on AFNR organizations and the industry.
2. Analyze the interaction among ANFR systems in the production, processing, and management of food, fiber, fuel, and sustainable use of natural resources.
3. Explain foundational cycles and systems of AFNR (plant and animal life cycles, nutrient and water cycles, and animal production).
4. Explain how changes in one system in AFNR can benefit and cost components of other systems (e.g., using less irrigation water and the impact on soil systems, economic systems, and watersheds).
5. Explain how regulations and major laws impact management of AFNR activities.
6. Describe current issues impacting AFNR.
7. Explain the impact of sustainability on AFNR activities and practices.
8. Envision emerging technology and globalization to project its influence on widespread markets.