Basic Knowledge in Agriculture # 19

|What do you understand by Agricultural Entrepreneurship| |-| Entrepreneur implies to undertake, to pursue opportunities, to fulfill needs and wants of the people through innovation and starting business.

An entrepreneur undertakes a new business venture. He organizes it, raises capital to finance it, and assumes the whole or major part of the risk of business.

An entrepreneur recognizes a market opportunity, develops a business idea to take advantage of this opportunity and uses the resources and creates a business enterprise to implement this business idea. In the field of economics Enterprise is one of the factors of production (Land, labor, capital, enterprise).

Discuss on the Activities of an Agricultural Entrepreneur

Wikipedia

Entrepreneur (Agricultural Entrepreneur) is a self-motivated business manager who performs various agro-based activities using different information, skills and various resources to accomplish a goal.

Agricultural Entrepreneurship is predominantly related to the marketing and production of various agricultural products. Various other agro-based industries, industries providing agricultural inputs and consultancy and those related with activities allied to agriculture also come under this category. The person carrying out such activities is referred to as an Agricultural Entrepreneur or an Entrepreneurs.

Earlier agriculture was seen to provide food security to the nation. Now, scientists, practitioners, researchers and management experts have recognized the need that farmers increasingly require entrepreneurship, to grow and thrive.

Focus on the identification and following of opportunities are the core/center of agriculture entrepreneurship. Changing consumer habits, new requirements of product quality, chain management, food safety, sustainability have brought new entrepreneurs and Innovative practices into the field of agriculture

In india, agriculture is dominated by small family farms and hence, family farming culture impacts agricultural entrepreneurship

Priorities of an agricultural entrepreneur are different from non-agricultural entrepreneurs. In case of the former, priority is survival, subsistence (supporting or maintaining oneself at minimum level), presening family heritage. Later, profit maximization is important,

Entrepreneurial Orientation (EC) refers to the willingness of farmers to innovate and undertake risks to try new products, services and markets. The farmers should be proactive towards new marketplace opportunities.

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