A Literature Review on Agribusiness Positioning, Resource Management, and Market Channel Strategies
DOI:
https://doi.org/10.54536/jebs.v2i2.7864Keywords:
Competitiveness, Consumer Behavior, Innovation, Supply Chain, SustainabilityAbstract
Agribusiness plays a vital role in the development of the economy, particularly within the emerging economies of the world. Through reviewing literature regarding agribusiness, three main areas of focus can be drawn: systemic, natural resource, and marketing channel strategies for agribusiness enterprises. Systemic approaches to agribusiness enable those enterprises to incorporate various objectives for their agribusinesses, whether those objectives relate to economic, environmental, or social aspects of those agribusinesses. Additionally, natural resource management relates to the importance of managing resources in efficient way, sustainable, and incorporates innovations to minimize the negative impact of agribusiness enterprises upon the environment. Finally, marketing channel strategies enable agribusiness enterprises to compete within the market in accordance with the objectives established for the agribusinesses through the implementation of digital technologies, consumer-centric strategies, and structural reforms to marketing channels. Through reviewing the various literature, it becomes clear that the success of agribusiness enterprises relates to the integration of each of these different strategies. The diversions of agribusiness can help to reveal some of the different ways in which agribusiness may need to develop different solutions to increase its successes. Overall, the agribusiness sector will experience the best success with the implementation of a framework that balances competitiveness, sustainability, and inclusivity within the rapidly developing agricultural markets of the world. Thus, through reviewing existing literature on the topic, the author can contribute to the existing literature regarding agribusiness by proposing a framework for the future development of agribusinesses that incorporate each of these different dimensions of success.
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