Business Finance
Seminole State College of Florida Chapter 11 The Weather Predicting Paper

Seminole State College of Florida

Question Description

Need help with my Management question - I’m studying for my class.

The Weather Predicting Tech Behind $62 Billion Monsanto Bid" Answer questions 1-3. Do not be succinct - one to two paragraphs per question. I expect you to use content from book, definitions, terms, etc. Question three relates to 'managing change'. Use critical thinking, expand your thoughts with your answers, and leverage outside resources if you like.

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The Weather-Predicting Tech Behind $62 Billion Monsanto Bid A self-driving John Deere tractor rumbles through Ian Pigotts 2,000-acre farm every week or so to spray fertilizer, guided by satellite imagery and each plot’s harvesting history. The 11-ton behemoth, loaded with so many screen it looks like an airplane cockpit, relays the nutrient information to the farmer’s computer system. With weather forecasts and data on pesticide use, soil readings, and plant tissue test pulled by various pieces of software, Pigott can keep tabs on the farm down to the square meter in real time without ever leaving his carpeted office. “This is become more standard”, says Pigott, who grow a rotation of wheat, oilseed, oats, and barley on this farm in the rolling Hertfordshire countryside an hour of London. German chemical company Bayer cited the growth in such digitally assisted farming as a key reason for its $62 billion bid for Monsanto, which has become a leading provider of analytics used by growers. Bayer Chief Executive Officer Werner Baumann say Monsanto is at the “forefront of digital farming”. Acquiring the company would further Bayer’s goal of identifying and providing the best suited seeds, fertilizers, and chemicals for farms around the world. “If you get the customers’ attention by predicting what happen on their farm, you can be closer to them to sell the seeds and whatever other products you want to sell them” says Bruce Erickson, a director in the agronomy department at Purdue University who tracks farming technology. “ The promise is immense.” Signs of the transformation abound drones providing bird’s-eye views of field: mapping software locating underground water sources; sensor laden tractors monitoring harvests in real time. It’s happening outside the fields, too. Cow’s meal portions are adjusted automatically based on their milk output. Infrared cameras identify chickens with fevers, protecting flocks. Adoption of digital tools comes amid concerns that food production isn’t keeping up with the world’s appetite. Crop yields have remained relatively flat in recent years, even as demand is increasing because of population growth and rising middle class in developing nations such a China. Sensing an opportunity, investment is pouring into digital farming. Food and agriculture technology startups attracted $4.6 billion last year, compared with $2.3 billion in 2014, according to AgFunder, an online investing platforms. Monsanto’s investment in digital agriculture took off in 2013 when it spent almost $1 billion for San Francisco-based startup Climate Corp. Founded by former Google engineers David Friedberg and Siraj Khaliq, Climate Corp. developed an algorithm that helps predict how weather affects crop output. Monsanto added its own data from seed trials and acquired soil and analytics companies. Now its soft-ware offers farmers recommendations on what to plant and where to paint it. Farmers are very excited about new technology if you can show them some value, that it’s not just some gimmick,” says Khaliq, who’s now a venture capitalist in London. Monsanto invested in Blue River Technology, a California company that uses computer vision technology to weed corps. It also backed HydroBio, which produces tools that monitor water usage, and Vitalfield , a farm management soft-ware. Meanwhile, Planet Labs, whose satellite monitoring technology tracks changes in crops and soils, raised $120 million last year, and data company Farmer raised $15 million from investors including Google parent Alphabet. Other large agriculture companies are also investing to add technology to their product lines. Tractor make Deere offers autonomous driving and tools to track real-time usage of seeds, fertilizer, and chemicals. DuPont, which is expanding its Encirca farm management software unit and Syngenta which Monsanto tried to buy earlier this year and has made several digitsl farming acquisitions. Adoption of digital agriculture has been fastest in the central U.S. where industrial farms put premium on efficiency. In central Illinois. Dale Hadden has been collecting data to improve the performance of the soybeans, corn, and wheat he grows on his almost 5,000 acres. He creates models to predict yields based on chemical use, soil types, and his land’s topography. We can take our data, walk right into the fields an iPad or iPhone, pinpoint exactly where we are in the field, and see what the planning rate is, what the amount of nitrogen is, and figure out what we should be doing with each parcel of land,” Hadden says. “If we have a performance issue in a certain area, we can do something about it.” Still the early days for technology. “ Agriculture is well behind other industries that I’ve been involved with in being able to collect and synthesize problems.” Says Ron LeMay, the former president of telecommunications company Sprint, who founded FarmLink, a data company. Many farmers, particularly outside the U.S., have taken a wait and see approach to find out if adopting digital tools can improve their bottom line. Such software can cost several thousand dollars per years and comes with a steep learning curve. “We’re still on the cusp of being able to demonstrate at scale the financial returns.” Says Ros Harvey, the founder of Yield, an Australian startup. Her company, backed by German automotive giant Robert Bosch, uses sensors that allow oyster farmers to determine when contamination makes it unsafe to harvest. The greatest potential may be in the developing world, where tapping into global communication networks may allow farmers to better manage climate change and other risk by bringing Big Data to the world most information poor regions. We’ve starting to see the emergence of a digital revolution.” Says Mick Keogh, the executive director of the Australian Farm Institute. It’s moving from decision based on objective information driven form technologies now available. Question for Discussion 1. How can individual farmers use the four steps in the control process to take advantage of information gathered by weather prediction technology? 2. From a financial perspective. What measures can farmers use to determine if weatherprediction technology should be part of their overall business plan? 3. Do you think the agriculture industry will be able to successfully manage the changes brought about by this type of technology? Explain your reasoning. Organizational Control • Organizational control – Managers monitor and regulate how efficiently and effectively an organization and its members are performing the activities necessary to achieve organizational goals ©McGraw-Hill Education. Copyright Image Source/Getty Images RF Control Systems and IT • Control systems – Formal, target-setting, monitoring, evaluation, and feedback information systems that provide managers actionable data ©McGraw-Hill Education. Control Process Steps Step 1 Establish the standards of performance, goals, or targets against which performance is to be evaluated Step 2 Step 3 Measure actual performance Compare actual performance against chosen standards of performance Evaluate the result and initiate corrective action if the standard is not being achieved Step 4 ©McGraw-Hill Education. Copyright © McGraw-Hill Education. Permission required for reproduction or display. The Control Process ©McGraw-Hill Education. Three Organizational Control Systems Type of Control Output control Behavior control Clan control ©McGraw-Hill Education. Mechanisms of Control Financial measures of performance Organizational goals Operating budgets Direct supervision Management by objectives Rules and standard operation procedures Values Norms Socialization Financial Measures of Performance (1 of 4) • Profit ratios – Measure how efficiently managers are using the organization’s resources to generate profits • Return on investment (ROI) – Organization’s net income before taxes divided by its total assets – Most commonly used financial performance measure ©McGraw-Hill Education. Financial Measures of Performance (2 of 4) • Operating margin – Calculated by dividing a companies operating profit by sales revenue – Provides managers with information about how efficiently an organization is utilizing its resources ©McGraw-Hill Education. Financial Measures of Performance (3 of 4) • Liquidity ratios – Measure how well managers have protected organizational resources to be able to meet short-term obligations • Leverage ratios – Measure the degree to which managers use debt or equity to finance ongoing operations ©McGraw-Hill Education. Operating Budgets • Operating budgets – Blueprint that states how managers intend to use organizational resources to achieve organizational goals efficiently ©McGraw-Hill Education. Organization-Wide Goal Setting Corporate-level managers set goals for individual divisions that will allow the organization to achieve corporate goals. Divisional managers set goals for each function that will allow the division to achieve its goals. Functional managers set goals for each individual worker that will allow the function to achieve its goals. ©McGraw-Hill Education. Copyright © McGraw-Hill Education. Permission required for reproduction or display. Effective Output Control Objective financial measures Challenging goals and performance standards Appropriate operating budgets ©McGraw-Hill Education. Behavior Control • Direct supervision – Managers who actively monitor and observe the behavior of their subordinates – Teach subordinates appropriate behaviors – Intervene to take corrective action • Management by objectives (MBO) – A goal-setting process in which a manager and each of his or her subordinates negotiate specific goals and objectives for the subordinate to achieve ©McGraw-Hill Education. Management by Objectives (2 of 2) 1. Specific goals and objectives are established at each level of the organization. 2. Managers and their subordinates together determine the subordinates’ goals. 3. Managers and their subordinates periodically review the subordinates’ progress toward meeting goals. ©McGraw-Hill Education. Bureaucratic Control • Bureaucratic control – Control by means of a comprehensive system of rules and standard operating procedures (SOPs) that shapes and regulates the behavior of divisions, functions, and individuals ©McGraw-Hill Education. Clan Control • Clan control – The control exerted on individuals and groups in an organization by shared values, norms, standards of behavior, and expectations ©McGraw-Hill Education. Organizational Change – Movement of an organization away from its present state and toward some desired future state to increase its efficiency and effectiveness ©McGraw-Hill Education. FLewin’s Force-Field Theory of Change ©McGraw-Hill Education. Jump to Appendix 3 for description Steps in the Organizational Change Process ©McGraw-Hill Education. Jump to Appendix 4 for description ...
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Final Answer

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Running head: THE WEATHER-PREDICTING TECHNOLOGY

The weather-predicting technology
Course name
Student’s name
Professor’s name
University affiliation
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THE WEATHER-PREDICTING TECHNOLOGY

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Discussion
1. How can individual farmers use the four steps in the control process to take
advantage of information gathered by weather prediction technology?
The effectiveness of a control process in farming will be dependent on how the farmers
collect information about weather prediction technology to make the necessary decisions. In the
first step, each farmer should set standards that they will use to measure the performance of the
technology. The farmers should define the goals that they expect from the technology, for
instance, meeting the farm produce targets based on the performance of the technology. With the
weather prediction technology, they have, farmers will then measure the actual performance once
they use it. This data will include the soil readings, data on pesticide use and plant tissue. Relay
of info...

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Rice University

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