Role of Social Security and Work Incentives in Agribusiness

Role of Social Security and Work Incentives in Agribusiness

The word “Social relates to human society or any of its subdivisions. It also refers to the characteristics or features of the experiences, behaviors and interaction of persons forming groups. It means having the purpose of promoting companionship and communal activities.

In designing or formulating any policy action, there is a clear need to consider objectively the existing trends and features of the society, so as to achieve a hitch free breakthrough. Therefore, the stability or security of the society plays a prominent role in the thriving of agribusiness targets.

Also, the adoption of work incentives or motivating packages to boost the zeal of Agribusiness workers and participating agents is pertinent or vital in achieving expected results or effects in the agribusiness world.

 

The Meaning and Scope of Social Security Social Security refers to the action programmes of government intended to promote the welfare of the population through assistance-measures guaranteeing access to sufficient resources for food and shelter and to promote health and wellbeing for the population at large and potentially vulnerable segments such as children, the elderly, the sick and the unemployed.

Services providing social security are often called Social Services. Social security is not limited to the provision of cash transfers, but also aims at security of work, health, and social participation.

Social security may refer to:

Social Insurance

This is where people receive benefits or services in recognition of contributions to an insurance program. These Services typically include. Provision for retirement pensions, disability insurance, survivor benefits and unemployment insurance.

Services for Refugees

These includes assistance given to newly arrived refugees for basic necessities such as food, clothing, housing, education, money and medical care.

Industrial related services

Industrial relationships also give social services or benefits.

Everyone as a member of society has the right to social security and is entitled to realization, through national effort and international co-operation and in accordance with the organization and resources of each state, of the economic, social and cultural rights indispensable for his dignity and the free development of his personality.

 

The meaning and Scope of Agribusiness

Agribusiness is a complex system of input sector, production sector, processing, manufacturing sector, transportation and marketing sector. It is directly related to industry, commerce and trade.

The identified and important pre-requisite for success in modern Agribusiness are as follows:
(1) Clear objectives
(2) Planning
(3) Sound organization
(4) Finance
(5) Research
(6) Efficient and sustained management techniques
(7) Harmonious relations culture

Agribusiness is the business of agricultural production. It includes agrichemical breeding, crop production (farming and contract farming, distribution,farm machinery processing, seed supply, as well as marketing and retail sales.

SOCIAL SECURITY IN AGRIBUSINESS

An efficient and effective stability in social network systems is plays a major role in the overall success of effective diffusion of new innovations and technologies and other transformational initiatives.

Agribusiness owners and manager understands the importance of social security or community development as a tool for facilitating entrepreneurial goals. Social security in Agribusiness engenders or promotes food commodities safety, especially the perishable products.

According to the European commission (EC), which provides one of the most recognized definition of social responsibility, promotes and emphasizes the integration of social and environmental concerns in the strategy and operation of agribusinesses.

The European Commission (EC) also suggested the importance of how businesses interact with their internal and external partners (employees, customers, neighbors, NGOs, authorities.)

BASIC ROLES OF SOCIAL SECURITY IN AGRIBUSINESS

The stability of the society has a multiplier effect on the success of agribusiness. The fundamental role of social stability in agribusiness is as follows:

Finance

In the absence of public assistance initiatives of the government such as promotion of stability of the financial status of the larger public, there will be a negative effect on the monetary resources needed to operate an agribusiness enterprise or enterprises. In addition, finance or capital asset is needed to start up a new agribusiness enterprise, both in the short term and in the long term period.

Welfare

When there is a significant stability or security in the wellbeing of members of the society, it tends to have a positive impact on the successful achievement of agribusiness objectives.

Motivation and confidence for new and existing agribusiness operators

it is a long known fact that one of the facts of any thriving agribusiness is a stable socio-economic reality. A stable social system serves as a motivator in the following ways:

a. It stimulates interest in creation of new agribusiness enterprises.
b. It promotes the passion for expansion of existing agribusiness production.
c. It engenders sustenance of interests in agribusiness.

Research

Research is a core component for better innovations and technologies in agribusiness. These research goals may be hampered if there is instability among the people of the public. So provision of social services contributes to the success of conducting new and improved research methods in agribusiness.

Harmony

A good or considerable level of harmony is required among the workers or operational agents in the agribusiness enterprises. One of the benefits of social security in agribusiness is creating harmonious relationships among the workers in agribusiness. This brings a safe, serene and conducive environment for agribusiness to thrive or succeed.

THE MEANING OF WORK INCENTIVES

Work Incentives means something that motivates,rouses or encourages. It is a bonus or reward, often monetary to work harder.

It is also something that incites, move,stimulate or spur someone to action. The importance of incentive in the working population of a nation cannot be over emphasized because every human being naturally requires encouragement to do more beneficial action with time.

Incentives are motivators or stimulants that give rise to the zeal to perform a particular task or set of tasks in an improved manner.

THE FUNCTIONS OF WORK INCENTIVES IN AGRIBUSINESS

Monetary rewards or bonus granted to the working population of agribusiness will always stir up the eagerness for a robust or a more effective service delivery. Working incentives packages is a tested booster for higher human resource efficiency in the various agribusiness operations such as input, transport, processing, and marketing sector
(distribution and sales) A lack of effective incentives for workers in agribusiness may lead to a gradual declining
interest in building and expanding of extant agribusiness enterprises.

  1. The government should as a matter of fact consistently sponsor programmes,schemes and actions that will accelerate the stability and safety of the larger society because of its beneficial effects on agribusiness enterprise.
  2. The government should endeavor to provide timely and adequate assistance through
    sufficient capital provisions and designing well suited policy framework that will encourage
    potential investors or new entrant in the agribusiness industry
    3. The management of agribusiness enterprises should always consider the winning tool of
    incentive as a strategy for better performance of agribusiness workers.

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