Massey University, Farm Focus enhance agribusiness education
Massey University and Masterton-based farm finance platform Farm Focus have collaborated on a pilot programme to enhance students' agribusiness acumen through hands-on learning with financial software.
The initiative saw second-year students undertake assignments focused on farming financial budgeting and cashflow forecasting using real-life data provided by Farm Focus.
The pilot programme aimed to deliver a comprehensive agricultural curriculum that mimicked the daily realities of modern farm businesses. Throughout the first semester of 2024, students used Farm Focus software to access, implement, and test real farming financial data. This experience aimed to foster a better understanding of on-farm finances and the importance of budgeting tools.
In collaboration with the university, Farm Focus offered students access to its specialised software, facilitating a practical approach to learning and applying financial tools for farm management.
This provided students with the opportunity to develop an accurate depiction of on-farm financials while gaining familiarity with essential planning and business management tools.
Students participated in workshops, quizzes, and customised data assignments, along with other educational support measures, each designed to deliver a unique and results-driven learning experience. Annie Cates, Agri Training Advisor and Partnership Lead at Farm Focus, expressed satisfaction with being a part of the students' educational journey.
"These students are the next generation of our farming industry, so it's incredible to be able to contribute to the success of their studies in a meaningful way; enabling them to learn and experiment with real-life data that we hope will one day serve them well in their future careers," said Cates.
"Farm Focus is passionate about education and empowering farmers to make informed decisions with their finances. The opportunity to partner with Massey University on this pilot project was a no-brainer, and we couldn't be more excited to share our farming financial tool to aid students in their tertiary studies," she added.
Professor Peter Tozer, Professor in Farm Management at Massey University, noted the benefits of the partnership. He pointed out that the students previously completed their assignments using Microsoft Excel, which involved troubleshooting complex formulas. However, the transition to Farm Focus software has streamlined their efforts.
"In previous years, the students completed their assignments using Microsoft Excel. However, this year, they switched to using Farm Focus' platform, finding it much easier to navigate. As a result, they have spent more time understanding and learning practical farm management tools, rather than troubleshooting Excel formulas," Tozer explained.
The students' adoption of the software has enabled them to make and analyse decisions more effectively using the data, thereby enhancing their understanding of the economic consequences of their choices. "Having a platform that is much more user-friendly and farm-specific enables students to learn more of the relevant management knowledge that we want them to leave Massey with," added Tozer.
The new approach to the second-year Farm Management course has been deemed a success, prompting consideration for continued collaboration between Farm Focus and the university.
