Program focus

Good business management requires consideration of people, plants and equipment as well as the health, welfare and productivity of livestock in order to ensure the successful financial performance of the business.

Research shows that focusing on producing more kilograms per animal with lower operating costs creates more profitable businesses. Three situation analysis reports reveal key drivers of on-farm economic performance in the northern beef, southern beef and prime lamb industries. The reports also provide insights into how the top 25% in each sector are operating for long-term profitability and economic sustainability.  

Below is a summary of resources to help you understand your true operating costs and management procedures that will maximise labour and resource efficiency.

Business management includes:

Business planning

Bringing together the physical, financial and human resources needed to operate and examining the costs, risks and potential rewards from the enterprise.

Property planning

Considering the design and effective utilisation of existing physical resources and identifying additional resources required to meet the goals of the business.

Business finance and risk

Understanding the business' financial situation in relation to acceptable levels of risk and profitability.

Managing people

Attracting, employing and retaining the right person, meeting legal obligations associated with employing people, ensuring a safe and satisfying work environment and planning the transition of enteprise management or ownership.

Record keeping and obligations

Keeping appropriate records to determine the financial health and success of the enterprise as well meeting industry or legislative obligations.

Business management should involve a holistic view of livestock enterprises and incorporate plans and activities in relation to:

Good business management requires consideration of people, plant and equipment as well as the health, welfare and productivity of livestock in order to ensure the successful financial performance of the business.

Join myMLA today

One username and password for key integrity and information Systems (LPA/NVD, NLIS, MSA & LDL).

A personalised online dashboard that provides news, weather, events and R&D tools relevant to you.

Customised market information and analysis.

Learn more about myMLA

myMLA Sign Up

Already registered for myMLA?

Sign in here