Methods for complex decisions on agricultural investment

Daróczi, Miklós (2014) Methods for complex decisions on agricultural investment. In: Challenges for the Agricultural Sector in Central and Eastern Europe. Agroinform Kiadó, Budapest, pp. 201-212. ISBN 978-963-502-974-7

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Abstract

Complex decisions on technical investments determine the activity and future success of the enterprises of the agricultural sector. The preparation and formation of the investment and the selection of the final version are essential for both the companies and the national economy. The primary objective of this paper is to develop the decision making process, particularly focusing on the investment efficiency aspects. Our Institute (Institute of Engineering Management) has been doing researches for several decades on agricultural investments. The earlier created theoretical model has been developed in several aspects. The new model will contribute to a more accurate foundation of the agricultural investments and hopefully to a more efficient utilization of the financial resources. One of the most difficult tasks of the enterprises is to find the right way and tools from the business strategy goals to the actual development plans. Most of the SME-s do not consider important to have a written plan. Determining the content, the volume and the quality of the project result requires great caution due to the agricultural particularities and to the multifunctional characters of the agricultural activities. This paper focuses on the new elements and the practical utilization of the developed model. The decision preparation model consists of seven steps which are briefly presented

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