| CODE | LAS1065 | ||||||||
| TITLE | Farming with Profits: Fundamentals of Rural Entrepreneurship | ||||||||
| UM LEVEL | I - Introductory Level | ||||||||
| MQF LEVEL | 5 | ||||||||
| ECTS CREDITS | 4 | ||||||||
| DEPARTMENT | Centre for the Liberal Arts and Sciences | ||||||||
| DESCRIPTION | Agriculture is the dominant land user of Malta’s rural environment, occupying roughly one third of the Islands’ land area. There are about 12,500 registered agricultural holdings, 1,400 gainfully employed farmers, and close to an additional 18,000 part-timers, meaning that a significant number of people resident in Malta either own or have under their care land and other farm property that are leased to them in what are very secure long-term agreements. This Unit takes a brand new look at farming as a profitable business, and arms students with valuable knowledge about basic tools for business planning and engineering in the farming sector and the agro-food value chain in a story whose narrative runs parallel to man’s evolutionary history, highlighting the important role and impacts on society of farming right from the onset of the Agricultural Revolution, through to modern times and in the future. Successful farm entrepreneurs must keep in mind that consumers are not only hungry for fresh food, but are increasingly desperate for pleasurable experiences that are conducive to a happier lifestyle and consistent with man’s evolutionary history - eating ripe fruit, learning something new about a plant, petting a furry animal, and sharing tasty food with family and friends - valuables that agriculture can easily provide. Topics are structured around the basic components of a business plan - the technology behind the business, the value of property and assets, the business opportunity - with focus on the market, products, competition, and commercial strategies, the management team, and the operating plan, a plan of how and what is needed to produce and deliver. This approach enables students to gain insights about the socio-economic drivers and the value that can be derived from a wide variety of agricultural enterprises - from traditional farming to more industrial establishments, and other forms of businesses such as social agriculture, rural/agri-/eco-tourism, etc., and in this way appreciate the mechanics of how to build and make profits from investing in land that bears fruit. Learning Outcomes: 1. Knowledge & Understanding: By the end of the Unit the student will be able to: - Explain the role of farming and the value of the agricultural enterprise, in terms of the assets on which it is built, the products it can offer, and the dynamics within society; - Gain an appreciation for the value that can be created by a farming business and how value can be added to agricultural value; - Gain an appreciation of the business landscape surrounding farming, in terms of the political, economic, social, technological, environmental, and legal perspectives (PESTEL); - Describe the fundamentals of building an agricultural enterprise through the making of a robust business plan. 2. Skills: By the end of the Unit the student will be able to: - Perform a SWOT and a PESTEL analysis for a farming business; - Prepare a basic business plan for an agricultural enterprise; - Take an active role in the management of operations of an agricultural enterprise; - Identify business opportunities in the farming and rural sectors and transform these into profitable commercial trading activities. Main Text/s and any supplementary readings: Main Texts: Hall, Derek, Irene Kirkpatrick and Morag Mitchell (eds.), Rural tourism and sustainable business (Clevedon: Channel View Publications, 2005). Wimmer, Nancy, “The Art of Rural Business,” Journal of Management for Global Sustainability, Vol.1:2 (2013): 107-119. Attard, George and Anthony Meli, “Food, rural, agricultural and fisheries policies in Malta,” Options méditerranéennes 61 (2008): 295-316. Supplementary Texts: Minnesota Institute for Sustainable Agriculture, Building a Sustainable Business: A Guide to Developing a Business Plan for Farms and Rural Businesses, 5th printing, 2018. Aubrey, Sarah Beth, Starting & Running Your Own Small Farm Business: Small-Farm Success Stories (Storey Publishing, 2008). |
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| STUDY-UNIT TYPE | Lecture | ||||||||
| METHOD OF ASSESSMENT |
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| LECTURER/S | Sonya Sammut |
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The University makes every effort to ensure that the published Courses Plans, Programmes of Study and Study-Unit information are complete and up-to-date at the time of publication. The University reserves the right to make changes in case errors are detected after publication.
The availability of optional units may be subject to timetabling constraints. Units not attracting a sufficient number of registrations may be withdrawn without notice. It should be noted that all the information in the description above applies to study-units available during the academic year 2023/4. It may be subject to change in subsequent years. |
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