All Theses, Dissertations, and Capstone Projects

Year of Award



Master of Business Administration (MBA)


College of Business & Professional Studies

Degree Program



Business Administration


Farming, Farmers, Farms, Industry, Agriculture, Grain Embargo, Subsidies, Land Value


There has been a time, in the not too distant past, when farmers were looked upon as the backbone of American pride and culture. This attitude toward farmers has changed as financial problems plague an industry which was once considered one of the most successful American industries. The factors which caused this downturn can be divided into areas for purposes of analysis. These areas are government policies, economic factors, banking policies and farm management errors. All of these areas combined have meant difficult operating conditions for farmers. Some farms have gone bankrupt as a result. At the very least, the equity positions of profitable operations have been negatively affected with a decline in net worth.

The current operating environment does look bleak for anyone entering farming in the 1970's. The case study in the thesis analyzes the current conditions and relates how these conditions would affect an individual who wanted to enter the farming industry today.

A marketing approach is used to determine the market to enter, the product to produce, and what method is best to sell the product. The operation established in the case section is a hay farm which is designed to provide feed to thoroughbred horses in North Central Kentucky. This type of operation was selected using some criteria which any operation should consider when entering the farming industry. The first criteria is that the market should be such that some degree of market security exists for the product. The second criteria is that the operation be geographically located to serve its market. The final criteria used states that the product must meet the needs of its market.

The author believes that any operation which follows these criteria has a good chance of success. This potential is shown in the final chapter of the text.

Document Type

Open Access Honors Thesis

Creative Commons License

Creative Commons Attribution-Noncommercial-No Derivative Works 4.0 License
This work is licensed under a Creative Commons Attribution-Noncommercial-No Derivative Works 4.0 License.



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