Cargill Premix & Nutrition: Transforming Talent Management
It was clear before and even more so now after the events of the last 12+ months — data-driven decision making is crucial for companies aiming to remain profitable and competitive in today’s markets. However, beyond simply basing decision making on data, companies must take this a step further and fully embrace the concept of competitive intelligence to truly be successful. In the food and agribusiness industry, we are no exception to this rule.
Economists have always been interested in the interactions between capital and labor. In a recent paper in the American Journal of Agricultural Economics, Drs. Diane Charlton and Genti Kostandini exploit the enactment of 287(g) immigration policies to estimate the impact of labor shortages on technology adoption and productivity of U.S. dairy farms. Their results provide key insights into the extent to which technology can compensate for shortfalls in farm labor.
Corporate social responsibility (CSR) is continuing to grow in importance to investors and consumers alike. Both groups are increasingly avoiding doing business with firms that conduct themselves in a manner consumers and investors deem undesirable. In response, managers have been and must continue adapting their firms to be more responsible or they could face real financial repercussions. But rather than viewing CSR as an unwelcome expense, managers would be better off viewing it as an opportunity to differentiate themselves from their peers. Similar to the growing consumer consciousness of what pesticides and production practices are used to make their food and the price premium paid for certified organic, CSR may offer benefits to farmers if they choose to embrace this changing environment.