Use of benchmarking in farm business analysis
2000
Bratka, V. | Malkalns, E. (Latvian State Inst. of Agrarian Economics, Riga (Latvia)) | Mogens, L. | Oerum, J.E.
The given paper deals with one of the farm accounting methods developed at the Danish Institute of Agricultural and Fisheries Economics. The method, called benchmarking, compares the actual farm data with the data of a designed more efficient farm. The artificial efficient farm data have been derived from the data of a reference group - a group of the best practive farms - applying coefficients obtained by means of the linear programming model. The farmer or the adviser gets the opportunity to analyse the actual farm data, compare them with the efficient ones, find the weak and strong sides of this farm and develop plans for more efficient competitive farming. The present article shows the use of benchmarking method applied to the reference group designed on the basis of farm accountancy data from the farm account statistics database and comparison of the actual farm data to the constructed efficient farm data.
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