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The Farming Dilemma
內容大綱
In early 2019, Chrystopher Jesse, a student at Jomo Kenyatta University of Agriculture and Technology in Nakuru, Kenya, inherited a 10-acre piece of land outside the city. With his degree in procurement nearing its completion and a competitive job market awaiting him after graduation, Jesse now faced the decision of whether to sell the land or use it to begin operations as a small-scale farmer. This venture, if successful, had the potential to represent a portion or all of Jesse’s full-time income over the long term.<br><br>As part of his overall decision, Jesse needed to consider two key options: Assuming he chose to start the farm, Jesse needed to decide whether to plant potatoes or carrots. After deciding which crop to plant, he would then have to decide whether to irrigate the land or not.
學習目標
This case is intended for undergraduate-level courses on general business, introductory analytics, or introductory decision-making. It examines both the qualitative aspects of a decision and how a decision tree’s expected values can be used to quantitatively compare options. After working through the case and assignment questions, students will be able to do the following:<ul><li>Understand the agriculture industry in Kenya.</li><li>Develop a decision tree to model a business decision.</li><li>Use both expected values and qualitative factors to make a business decision.</li><li>Choose alternatives that fit with an entrepreneur’s risk profile and the industry environment.</li></ul>