Resiliency is the Key Word for 2025
04/17/2025
During times of uncertainty, industries help their people stay focused on core issues. Inflection points in any industry can be challenging to navigate and knowledge leaders do their best to provide practical and timely guidance.
In a recent article in The Scoop by Margy Eckelkamp, the author reviews Trey Malone’s research on inflection points in agriculture and potential reshaping the way the industry thinks about their historical economic principles. Malone is the chair for Managerial Economics and Agribusiness at Purdue University and reviewed past editions of the agribusiness management textbook in his research for a new edition.
During times of uncertainty, industries help their people stay focused on core issues. Inflection points in any industry can be challenging to navigate and knowledge leaders do their best to provide practical and timely guidance.
In a recent article in The Scoop by Margy Eckelkamp, the author reviews Trey Malone’s research on inflection points in agriculture and potential reshaping the way the industry thinks about their historical economic principles. Malone is the chair for Managerial Economics and Agribusiness at Purdue University and reviewed past editions of the agribusiness management textbook in his research for a new edition.
Malone’s key takeaway is that there have been inflection points illustrating the different ways we discuss agribusiness management.
1. In the 1970s, a lot of concentration was applied to how we define agribusiness management and set the scope for the companion businesses that are important to the farm economy.
2. In the 1990s, there was a great expansion in international trade. “We now live in a globalized society. At one point, everybody talked about how the world is flat. We learned that it’s not really flat, it’s more spiky. So there are pockets that we trade with a lot because of the specialization of that industry versus ours. So those spiky relationships really define the terms of the past 20 to30 years,” Malone says.
3. In the current time, we are stepping into a new era, which is more nuanced. “The push toward internationalization has a bit more nuance. While we all appreciated the low prices and stability that international trade created, we now live in a place where we think more about the geopolitical uncertainty underneath those supply chains,” he says.
He then shares some of the implications of these changes as they affect supply chains, how retailers need to prepare themselves in the face of these dynamics, and how the different industries throughout agriculture need to embrace a strategy of resiliency.
Malone stated, “I don’t think [we] understand how globally interconnected the economy is.”
You can find the complete article here: https://www.thedailyscoop.com/news/retail-industry/scoop-podcast-inflection-points-agriculture-resiliency-key-word-2025
= = = = = = = = =
This article is the opinion and perspective of the author and may or may not be consistent with those of anyone else. Mention of specific people or items in the article is not an endorsement of the individual, the company or the organization from which it originates.
= = = = = = = = =
Don Tyler
ASAC Board Member
Post a new comment