Course Syllabus & Calendar (as of 9/18/2007)

Fall 2007

THE WORLD OF INTERNATIONAL AGRIBUSINESS
AgEc 411 Credits: 1

Meeting Time: Monday 2:30 - 4:20 pm (PT)
3:30 - 5:20 pm (MT)

Meeting Places:                Moscow campus -Ag Sci Room 104 –
                                                                        the studio classroom
                                           Twin Falls – UI on CSI campus
                                           Idaho Falls – Idaho Falls Center for Higher Education

Course Website URL: http://courses.ag.uidaho.edu/aers/agecon411

Course description: In an informal seminar-type format, the course draws on the experience and wisdom of practitioners of international business engaged in various aspects and fields of agriculture. This accelerated course will hold class meetings once per week for two hours during the first 9 weeks of the semester, i.e., August 20 through October 15, 2007. The class participants located off the Moscow campus, e.g., Twin Falls and Idaho Falls, will participate in the presentations/discussions, in real time, via compressed video or by delayed viewing of a DVD. The presentations/discussions will originate primarily at the Moscow site but some presentations could originate from the other sites as well. Each session will provide opportunities for interchange between students and presenters. Students on campus will have additional opportunities for contact with presenters immediately following the class while sharing complementary ethnic cuisine of the day and soft drinks. Attendance in the second hour discussions is compulsory for the on-campus students. Since off-campus students do not have the opportunity to continue with a second hour of discussion with the presenters, their attendance and participation will be evaluated on the basis of participation in the first hour of class and by their summary/review comments and evaluations submitted by email after each class meeting.

Course objectives:
To examine the international roles of selected regional and U.S.-based corporations and government agencies engaged in agribusiness.

To develop an understanding of current management practices and issues; and the problems facing executives engaged in overseas ventures.

To develop an appreciation for the importance of cross-cultural factors in international agribusiness.

To expand student awareness of career opportunities in international agribusiness.

To gain practical experience in researching and writing a business plan for an international agribusiness.

Course requirements:
A grade in the class will be determined by performance on the following:

Class attendance and participation 70%

Business Plan 30%

Class attendance and participation: It is essential that students attend each seminar and participate to the maximum extent possible. Each student must submit a short summary/review and evaluation of each class meeting within 48 hours of the presentation/discussion sent via email to the instructor. The summary/review and evaluation must mention the name of the presenter, his/her organization’s name, and a very brief summary/review of the content of the presentation. If no summary/review is submitted then full credit for the session will not be awarded. Excused absences may be permitted with prior approval of the instructor. A DVD of each class will be available for students to view (at AERS office on Moscow and UI TF R&E Center in Twin Falls). The summary/review must be submitted even with an excused absence.

Business Plan: The international agribusiness plan assignment is an individual project exercise, unless Dr. Haggerty can be persuaded otherwise. The business plan must be international and agricultural in scope. The business plan should be approximately 16 pages double spaced, include the required sections and cover, as appropriate, the business plan elements outlined below. The business plan can be shorter but most likely will be longer. The length of the final business plan should be whatever is necessary to adequately meet the need and purpose of the hypothetical agribusiness. Other elements for the business plan are possible but must be approved by Dr. Haggerty. The students are expected to submit several drafts (i.e., at least three (3) drafts) of the business plan to Dr. Haggerty for feedback before final submission. The draft business plan may be submitted for feedback as many times as needed before the final submission. The business plan should be submitted in electronic form.

The first draft of the Business Plan is due no later than Monday September 17, 2007 but may be submitted

earlier. The final Business Plan is due at the close of business on Monday October 29, 2007 but may be submitted earlier.

Sample business plans will be made available for viewing on the class website, as well as several other sources which can provide guidance on writing a business plan. Each student business plan will be made available for viewing by all class participants on the class website.

Business Plan Required Sections:

1. Executive Summary
Mission Statement
2. Management
3. Product or Service
4. Marketing
5. Operations
6. Financial Data
Balance Sheets, 3 yearsIncome Statements, 3 years
Cash Flow Statements, 3 years

Business Plan Elements: Include but are not limited to:
Global marketing
Consumer behavior
The political and economic environment
The social and cultural environment
Risk Management
Political Risk
Price Risk
Foreign Exchange Risk
International transportation and packaging
Terms of trade – division of costs and responsibilities between trading partners
Methods of payment
Import/export documentation
Customs regulations
Pricing
Export contract
Negotiations
Future issues: e.g., E-commerce
Sample business plan formats and plans will be provided on the class website.

References and reading materials (illustrative): There is no text required for this course. The following publications may be useful for constructing your business plan. Other references will be brought to your attention during the semester. See Dr. Haggerty about checking out these materials. Taking Your Business Global: Your small business guide to successful international trade (1997), James Wilfong and Toni Seger; Put Your Best Foot Forward – Mexico/Canada: A fearless guide to international communication and behavior/NAFTA (1995), Mary Murray Bosrock; Put Your Best Foot Forward – Asia: A fearless guide to international communication and behavior (1997), Mary Murray Bosrock; The Lexus and the Olive Tree: Understanding globalization (2000), Thomas L. Friedman; A Future Perfect: The challenge and hidden promise of globalization (2000), John Micklethwait and Adrian Wooldridge; International Trade in Agricultural Products (2001), Michael R. Reed. Kiss, Bow, or Shake Hands: How to do business in sixty countries (1994), Morrison, Conaway, and Borden; Business Plans Made Easy: It’s not as hard as you think! (2002), Mark Hendricks and John Riddle.

Instructor: Dr. Bob Haggerty
Director, CALS International Programs
Office: Ag Sci Rm 40E
Phone: 208-885-6681 (office)
Email: haggerty@uidaho.edu
Office Hours: By appointment, but “walk-ins” are possible

Class Meetings Schedule (Subject to change – see updates on the class website):

Aug 20 Bob Haggerty - Course overview and rules of operation, business plan
            overview
Aug 27 Bob Haggerty –Business plan fundamentals and intro to intercultural
             communications
Sep 3 No Class Meeting – Labor Day Holiday
Sept 10 Armando Orellana – Director of Idaho Mexico Trade Office,
             Guadalajara, Jalisco, Mexico; agribusinessdevelopment for Mexico
Sep 17 Richard Bowman, President, RuMeth International. –
            Carbon emission offsets in global livestock industry
             First Draft of Business Plan Due at 5:00 pm PT
Sep 24 Peter Gilmartin, Commercial Creamery - Int’l agribusiness
             operations in the dairy products industry
Oct 1 Jeff Bragg, Potandon Produce, LLC – Ag marketing/agribusiness in a
             global setting: potatoes, onions
             2nd draft B-Plan due
Oct 8 Steve Vernon, V.P. Research, J.R. Simplot Co. – Agribusiness experiences
             in Korea and east Asia
            3rd Draft B-Plan due
Oct 15 To be determined
            4th draft B-Plan due
Oct 29 Final Business Plan due at 5:00 pm PT

Acknowledgement: Some costs of offering this course have been underwritten, in part, by the Ole Swenson – Katsi Toyoda International Agribusiness Visiting Scholar Endowment. The late Ole Swenson of Genesee, Idaho and the late Katsi Toyoda, of Tokyo, Japan were active business partners in the dry pea and lentil business in the early 1980s. Together they established an endowment in CALS to support a visiting scholar in international agribusiness in the Department of Agricultural Economics and Rural Sociology. With the approval of Mrs. Kay Swenson, Mrs. Carol Toyoda, and Mr. Harold Blaine some proceeds from the endowment have been used in the spirit of the Ole’s and Katsi’s visions to offer this course in international agribusiness. Donations to the endowment are welcome at anytime and are tax deductible to the full extent of the law. Please consider giving generously and often!