ABSTRACT
Success or failure? Stellar performer or also-ran? For an agribusiness fi rm, success or failure is sometimes driven by the broader marketplace — a boom in export demand, a rapid price hike for fuel. Other times winning and losing comes down to chance — a lucky break in the market, a competitor’s mistake. The broader marketplace and chance are clearly beyond the agribusiness fi rm’s direct control. Although these external factors are certainly important, the agribusiness fi rm also has infl uence on whether performance is stellar or mediocre. Decisions made by the fi rm’s managers — the allocation of investment funds, the people hired, the products introduced, the plants constructed, the deals entered, and many more — all determine whether the fi rm will be able to capitalize on a favorable market or how well prepared the fi rm is for challenges.
