The nuts and bolts of agribusiness

When one thinks of agribusiness, what comes to mind is usually the sale of food products to consumers. However, with the increasing concern for transformative technologies, food regionalism and digitization amid food security, the effort to streamline agribusiness system is heightened. The “Green desert, better environment” theme of the international Horticultural EXP 2023 DOHA is a classic example of a sustainability drive.

Indeed, measurement of the local, national and regional policies and decisions from the many options can be the difference between the success and failure in agribusiness because these decisions are converted into targets in terms of education and manpower, development, land reforms, health, environment, and science and technology. The inability to measure these outputs makes it difficult to control and if we cannot control it, management suffers and this reflects in the performance of enterprises. Abrokwah et al 2015 mentioned that investment in agribusiness in Sub Sahara Africa was expected to rise to 1 trillion dollars by 2030 as against 313 billion dollars in 2010. According to the authors it would be a powerful catalyst for economic transformation and development.

In the scheme of food system, a premium is placed on information and services that facilitate agribusiness. Research generate knowledge that creates a different future and not only a disorganizer but an enemy to today’s predominance. Equally important is the extension services that are provided by the scientific community. Financial intermediaries are also crucial in helping finance transaction or insure against risk associated with business. The largest component of cost in the agribusiness is grounded in logistic and is critical to having competitive advantage. The Council for Scientific and Industrial Research has stamped authority in generating and applying innovative technologies and efficiently and effectively exploits Science and Technology for Socio-economic developments.

The operational system turns the spotlight on inputs supply, food production, processing and packaging, distribution, consumption, waste reduction, valorisation and up cycling according to research gate. Studies on the nexus between supply chain management practices and firm’s performance tied to mediating role of supply chain integration by Kwamega et al, justifies that supply chain integration is an organisational core strategic tool which helps boast agribusiness performance. The implication is that agribusiness managers, policy makers and interested business are encouraged to broaden their scope of advocacy in streamlining supply chain integration to ensure effectiveness and attainment of organization’s objectives. Although the major drive of agribusiness focuses on the role of technology, urbanization, population growth and uniqueness of product, the issue soil, water and biodiversity are the push factors for any entrepreneur.

The rethinking emphasizes the 3Ps of sustainability as the nuts and bolts in agribusiness by balancing the interest of people, planet and profit in achieving organizational goal.