Editing Agribusiness (section)

==Evolution of the agribusiness concept==
The word "agribusiness" is a [[portmanteau]] of the words ''agriculture'' and ''business.'' The earliest known use of the word was in the Volume 155 of the [[Canadian Almanac & Directory]] published in 1847.<ref>{{Cite book|url=https://books.google.com/books?id=NEgbAQAAMAAJ&q=%22agribusiness%22|title=Canadian Almanac & Directory|date=1847|publisher=Copp Clark Publishing Company|isbn=978-1-895021-81-3|language=en}}</ref> Although most practitioners recognize that it was coined in 1957 by two [[Harvard Business School]] professors, John Davis and Ray Goldberg after they published the book "''A Concept of Agribusiness''."<ref name="agri1">{{cite book|last1=Davis|first1=John H.|title=A Concept of Agribusiness|last2=Goldberg|first2=Ray A.|url=https://books.google.com/books?id=EJMzzgEACAAJ|publisher=Division of Research, Graduate School of Business Administration, Harvard University|year=1957|isbn=9781684225248}}</ref>

{{blockquote|"Agribusiness is the sum total of all operations involved in the manufacture and distribution of farm supplies; production operations on the farm; and the storage, processing, and distribution of farm commodities and items made from them." (Davis and Goldberg, 1956)}}

Their book argued against the [[New Deal|New Deal programs]] of then [[Franklin D. Roosevelt|U.S. President Franklin Roosevelt]] as it led to the increase in agricultural prices. Davis and Goldberg favored [[Corporate farming|corporate-driven agriculture]] or large-scale farming to revolutionize the agriculture sector, lessening the dependency on state power and politics.<ref name=":0">{{Cite journal|last=Hamilton|first=Shane|title=Revisiting the History of Agribusiness|journal=Business History Review|year=2016|language=en|volume=90|issue=3|pages=541–545|doi=10.1017/S000768051600074X|s2cid=157756414|issn=0007-6805|doi-access=free}}</ref> They explained in the book that [[Vertical integration|vertically integrated firms]] within the [[agricultural value chain]]s have the ability to control prices and where they are distributed.<ref name=":0" /> Goldberg then assisted in the establishment of the first undergraduate program in agribusiness in 1966 at the [[University of the Philippines Los Baños|UP College of Agriculture]] in [[Los Baños, Laguna|Los Baños, Philippines]] as [[Bachelor of Science in Agriculture]] major in Agribusiness.<ref name=":1">{{Cite web|date=2015-05-03|title=Academic Programs|url=http://cem.uplb.edu.ph/index.php/academic-programs|access-date=2021-05-02|archive-url=https://web.archive.org/web/20150503071947/http://cem.uplb.edu.ph/index.php/academic-programs|archive-date=2015-05-03}}</ref><ref name=":2">{{Cite journal|last=Desai|first=D.K.|date=October 1974|title=Evolution of a Concept of Agribusiness and its Application|url=http://ageconsearch.umn.edu/record/268096/files/04%20Evolution%20of%20a%20Concept%20of%20Agribusiness%20and%20its%20Application.pdf|journal=Indian Journal of Agricultural Economics|volume= XXIX| issue = 4|pages=32–43}}</ref><ref>{{Cite web|title=Department of Agribusiness Management and Entrepreneurship|url=https://cem.uplb.edu.ph/cem-units/department-of-agribusiness-management-and-entrepreneurship/|access-date=2021-05-02|website=College of Economics and Management|date=14 November 2019 |language=en-US}}</ref> The program was initially a joint undertaking with the [[University of the Philippines Diliman|UP College of Business Administration]] in [[Quezon City|Diliman, Quezon City]] until 1975.<ref name=":1" /> Jose D. Drilon of the [[University of the Philippines]] then published the book "''Agribusiness Management Resource Materials''" (1971) which would be the foundation of current agribusiness programs around the world.<ref name=":2" /><ref name=":3">{{Cite book|last=Drilon|first=Jose D.|url=https://books.google.com/books?id=5z9DAAAAYAAJ|title=Agribusiness Management Resource Materials: Introduction to agribusiness management|date=1971|publisher=Asian Productivity Organization|isbn=978-92-833-1009-9|language=en}}</ref> In 1973, Drilon and Goldberg further expanded the concept of agribusiness to include support organizations such as [[List of agriculture ministries|governments]], [[research institution]]s, schools, financial institutions, and cooperatives within the integrated Agribusiness System.<ref>{{Cite journal|last=Desai|first=D. K.|date=August 1973|title=Planning a Progressive Agricultural Infrastructure|journal=1973 Conference, August 19–30, 1973, São Paulo, Brazil |url=https://ideas.repec.org/p/ags/iaae73/181420.html|language=en}}</ref>

Mark R. Edwards and Clifford J. Shultz II (2005) of [[Loyola University Chicago]] reframed the definition of agribusiness to emphasize its lack of focus on [[Farm|farm production]] but towards [[Market driven|market centricity]] and [[Innovation|innovative approach]] to serve consumers worldwide.<ref name=":5">{{Cite journal|last1=Shultz |first1=Clifford J. |last2=Edwards |first2=Mark R. |title=Reframing Agribusiness: Moving from Farm to Market Centric |url=https://ecommons.luc.edu/cgi/viewcontent.cgi?article=1028&context=business_facpubs |journal=Journal of Agribusiness |volume=23 |issue=1 |pages=57–73 |language=en}}</ref>
{{blockquote|"Agribusiness is a dynamic and systemic endeavor that serves consumers globally and locally through innovation and management of multiple value chains that deliver valued goods and services derived from sustainable orchestration of food, fiber and natural resources." (Edwards and Shultz, 2005)}}In 2012, Thomas L. Sporleder and Michael A. Boland defined the unique economic characteristics of agribusiness supply chains from industrial manufacturing and service supply chains.<ref>{{Cite journal|last1=Sporleder|first1=Thomas L.|last2=Boland|first2=Michael A.|date=2011|title=Exclusivity of Agrifood Supply Chains: Seven Fundamental Economic Characteristics|url=https://www.ifama.org/resources/Documents/v14i5/Sporleder-Boland.pdf|journal=International Food and Agribusiness Management Review|volume=14|pages=27–52}}</ref> They have identified seven main characteristics:

# [[Risk]]s emanating from the biological nature of agrifood supply chains
# The role of [[buffer stock]]s within the supply chain
# The scientific foundation of innovation in production agriculture having shifted from [[chemistry]] to [[biology]]
# Cyberspace and [[information technology]] influences on agrifood supply chains
# The prevalent market structure at the [[Farm gate marketing|farm gate]] remains [[oligopsony]]
# Relative [[market power]] shifts in agrifood supply chains away from food manufacturers downstream to food retailers
# [[Globalization]] of agriculture and agrifood supply chains

In 2017, noting the rise of [[genetic engineering]] and [[biotechnology]] in agriculture, Goldberg further expanded the definition of agribusiness which covers all the interdependent aspects of the food system including medicine, nutrition, and health.<ref name=":4">{{Cite web|last=Ward|first=Natalee|date=2017-05-25|title=Ray Goldberg: The man that coined the term "agribusiness"|url=https://www.weeklytimesnow.com.au/agribusiness/decisionag/ray-goldberg-the-man-that-coined-the-term-agribusiness/news-story/51e013827b75b6e648cd73341dd26ad4?nk=e78d895d1c1c3c261a3d90d52dee74c6-1619988588|url-status=live|access-date=2021-05-02|website=www.weeklytimesnow.com.au|language=en|archive-url=https://web.archive.org/web/20210502205557/https://www.weeklytimesnow.com.au/agribusiness/decisionag/ray-goldberg-the-man-that-coined-the-term-agribusiness/news-story/51e013827b75b6e648cd73341dd26ad4?nk=e78d895d1c1c3c261a3d90d52dee74c6-1619988588 |archive-date=2021-05-02 }}</ref> He also emphasized the responsibility of agribusiness to be environmentally and socially conscious towards [[Sustainable agriculture|sustainability]].<ref>{{Citation|title=HBS Professor Ray Goldberg on the History of Sustainable Agribusiness| date=11 May 2015 |url=https://www.youtube.com/watch?v=NQNUbWgjrfY |archive-url=https://ghostarchive.org/varchive/youtube/20211212/NQNUbWgjrfY| archive-date=2021-12-12 |url-status=live|language=en|access-date=2021-05-02}}{{cbignore}}</ref>

{{blockquote|"Agribusiness is the interrelated and interdependent industries in agriculture that supply, process, distribute, and support the products of agriculture." (Goldberg, 2017)}}

Some agribusinesses have adopted the [[Triple bottom line|triple bottom line framework]] such as aligning for [[fair trade]], [[Organic certification|organic]], [[good agricultural practice]]s, and [[Benefit corporation|B-corporation]] certifications towards the concept of [[social entrepreneurship]].