Purdue Agricultural Economics Report
PAER is a PDF file that may be downloaded for viewing and printing.
In this Issue:
In this issue we are looking at the 2014 Farm Bill as well as Goals of Small Businesses.
The Agriculture Act of 2014, better known as the 2014 Farm Bill was signed into law on February 7, 2014. The process of getting to a new farm bill was difficult, spanning more than two years. Many specific provisions of the farm bill will depend on how the United States Department of Agriculture interprets provisions of the bill and implements the programs. Indications are that initial signup for new farm commodity programs may not take place until at least September for crops to be harvested in 2014.
Goals for family businesses are very important and are related to actual performance. Strategic management begins when business owners set goals. Goals motivate and keep business owners focused on relevant performance activities. Goals help owners to “stick with it” when things become challenging. Goals can effect business performance as they impact the owners’ direction, energy, persistence, and desire to seek more knowledge.