IIARD International Institute of Academic Research and Development

WORLD JOURNAL OF ENTREPRENEURIAL DEVELOPMENT STUDIES (WJEDS )

E-ISSN 2579-0544
P-ISSN 2695-2483
VOL. 9 NO. 2 2024
DOI: https://doi.org/10.56201/wjeds.v9.no2.2024.pg41.52

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Agribusiness Practices and Strategies for Thriving in a Depressed Economy

Obialor, Donatus Chukwuemeka Department of Business Management, Udofot, Paul. O

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Abstract

The competition in the business space is fierce, hostile, and uncertain that operators of businesses must recognize the need to change the competitive landscape in their agribusiness practices. The research was conducted to examine agribusiness strategies necessary to thrive efficiently in a depressed economy. A sample size of 149 was selected using the Taro Yamane formula from a population of 238 staff judgmentally selected from listed farms in Akwa Ibom State (https://www.directory.org.ng/list-agriculture_and_agro-allied?st=akwa-ibom). To achieve this, three objectives and three hypotheses were formulated and tested using the Ordinary least square regression analysis. The results show that reducing unnecessary cost, protecting cash flows and technology-enabled commodity exchange have significant positive effects on agribusiness practices in a depressed economy. Consequently, it was recommended among others that reducing unnecessary cost, protecting cash-flows and technology-enabled commodity exchange has a positive significant effect on agribusiness practices in a depressed economy. It was concluded that agribusiness strategies for thriving in a depressed economy have significant positive effects on agribusiness practices.

keywords:

Agribusiness, Strategies, Cost, Technology, Exchange.

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References:

Adamowicz. M. (2020). Bioeconomy as a Concept for the Development of Agriculture and
Agribusiness. Problems of Agricultural Economics Journal, 365 (4), 135-155.

Agriculture and Agro-Allied Farms in Akwa Ibom State, Nigeria.Retrieved from
https://www.directory.org.ng/list-agriculture_and_agro-allied?st=akwa-ibom.
Chen. J. (2023). Agribusiness Explained: What it is, Challenges, and Examples. Journal of
Innovation and Management Review, 4 (1), 56-62.

Davis. J. H. & Goldberg. R. A. (2022). A Concept of Agribusiness. International Food and
Agribusiness Management Review, 22 (2), 27-52.

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