Ways of Risk Management

Risk is defined as a chance taken during any event. In agriculture we take many risks every day. From the risk of the tractor breaking in the early morning, to the risk of the cows getting onto a busy road during the middle of the night, agriculture is filled with risks. Managing these risks is essential to ensuring the profitability of any agricultural operation. While managing the risks facing a modern farm can sometimes require …

…then insurance is well worth its cost. Having an insurance policy helps to minimize the chance of lost income due to crop failures and provides protection against bad weather, disease or insects. Agriculture is always risky. However, if we manage these risks with the proper strategies we can reduce the risk we face and increase the chance of success in agriculture. Through my experiences in FFA, I have learned the importance of managing risks correctly.