INTEGRATED APPROACHES TO AGRICULTURAL BUSINESS DEVELOPMENT
Abstract
The article explores the concept of "agribusiness development" with a focus on stimulating and enhancing the activities of agricultural companies to achieve increased efficiency, competitiveness, and sustainability. The primary emphasis is on the use of advanced technologies, education, and consultations. The utilization of modern technologies in agribusiness encompasses precision farming, genetically modified organisms, machine learning, and automation. Their contribution to improving productivity, efficiency, and resilience in the agricultural sector is highlighted. The significance of education and consultations for agro-industry workers and entrepreneurs is underscored, citing examples of organizations providing training and consultations to adapt to emerging technologies. Financial support and sustainability in development emphasize the role of banks and financial institutions in ensuring the growth of agribusinesses. Examples of such institutions include Rabobank, AgFirst Farm Credit Bank, Oschadbank, and the Ukrainian Agrarian Fund. The expansion of market outlets is investigated as a strategic aspect of development, elucidating various approaches such as market research, marketing and branding, product diversification, regional market development, e-commerce, digital marketing, collaboration, and partnership, quality standards, and certification. The importance of sustainable development in agribusiness is argued, emphasizing the necessity of employing environmentally friendly practices. The need for a balance between present-day needs and the preservation of natural resources for future generations is underscored. Solving these issues requires a comprehensive approach, encompassing the improvement of management systems, infrastructure development, provision of financial support, regulation of land relations, and training farmers in modern technologies. The implementation of effective support programs and the stimulation of entrepreneurial development can contribute to attracting investments and innovations, positively impacting the development of the agricultural sector in Ukraine.
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