Entrepreneurial opportunities in agriculture

Entrepreneurial opportunities in agriculture

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Description: An entrepreneur is defined as “person in effective control of commercial undertaking; one who undertakes a business or an enterprise”. Entrepreneur is an innovative person who maximizes his profits by following new strategies or venturing into new products or services. Entrepreneurship is the act of being an entrepreneur, who starts any economic activity for being self-employed.

Entrepreneurship is the “process of the entrepreneur”. It is an attempt to create value through recognition of business opportunity. It is basically communicative and management functions to mobilize financial and material resources.

 
Author: Oman College of Management & Technology  | Visits: 357 | Page Views: 490
Domain:  Business Category: Entrepreneurial 
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Contents:
Entrepreneurship development

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Entrepreneur
An entrepreneur is defined as “person in effective
control of commercial undertaking; one who
undertakes a business or an enterprise”.
Entrepreneur is an innovative person who
maximizes his profits by following new strategies or
venturing into new products or services.

End

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Entrepreneurship

Entrepreneurship is the act of being an entrepreneur, who starts
any economic activity for being self-employed.
Entrepreneurship is the “process of the entrepreneur”. It is an
attempt to create value through recognition of business
opportunity. It is basically communicative and management
functions to mobilize financial and material resources.
The entrepreneurial activity is governed by varying combination of
socio-economic, psychological, cultural and other factors:
Caste/religion, Family background, Level of education, Level of
perception, Occupational background, Migratory character, Entry
into entrepreneurship, Nature of enterprise, Investment capacity
and Ambition/moderation.

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Who is a Entrepreneur............

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Entrepreneurship development
Entrepreneurial Characteristics

Being an entrepreneur requires specific characteristics and
skills that are often achieved through education, hard work, and
planning.

Risk Taker
Businesses face risk. Entrepreneurs minimize risk through
research, planning, and skill development.
Perceptive
Entrepreneurs view problems as opportunities and challenges.
Curious
Entrepreneurs like to know how things work. They take the time
and initiative to pursue the unknown.

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Entrepreneurial Characteristics
Imaginative
Entrepreneurs are creative. They imagine solutions to problems that
encourage them to create new products and generate ideas.
Persistent
True entrepreneurs face bureaucracy, make mistakes, receive
criticism, and deal with money, family, or stress problems. But they
still stick to their dreams of seeing the venture succeed.
Goal-setting
Entrepreneurs are motivated by the excitement of staring a new
business. Once achieved, they seek out new goals or ventures to
try.
Hardworking
Entrepreneurs need a great deal of energy to see a venture start
and succeed. Yet they are not deterred by the long hours to achieve
their goal.

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Entrepreneurial Characteristics
Self-confident
Entrepreneurs believe in themselves. Their self-confidence takes
care of any doubts they may have.
Flexible
Entrepreneurs must be flexible in order to adapt to changing trends,
markets, technologies, rules, and economic environments.
Independent
An entrepreneur’s desire for control and the ability to make
decisions often makes it difficult for them to work in a controlled
environment.

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Need for entrepreneurship


Increases national production



Balanced area development



Dispersal of economic power



Reinvestment of profit for the welfare of the area of profit
generation



Development is a function of motivation and human resource



Entrepreneurial awareness

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Entrepreneurial Opportunities in Agriculture:



Diversification:



Organic farming:



Food preservation, processing and packaging:



Production of agro-inputs



Floriculture

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Entrepreneurial Opportunities in Agriculture
• Diversification

Diversification in agriculture involve
shift

in

cropping

pattern

from

traditionally grown less remunerative
crops to more remunerative crops
like oilseeds, pulses, fodder crops,

horticulture, medicinal and aromatic
plants, floriculture etc. It also includes
livestock and fishery enterprises and
small
http://dfs.berkeley.edu/about-us/mission-goals/

scale

agro-based

Diversification

industries.

increases

the

employment opportunities, optimum
use of resources and profitability.
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Entrepreneurial Opportunities in Agriculture:
• Organic farming:

http://www.organicagriculture.co/indian-scenario.php

The importance of organic farming is growing very fast
particularly in international market. This sector provides great
business opportunities to agro-based entrepreneur. Area under
organic farming is increasing but unable to meet the demand of
organic produce.

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Entrepreneurial Opportunities in Agriculture:
• Food preservation, processing and packaging

food-preservation-can-jam-9-stone-fruits/
Large proportion of agricultural produce is wastage due to improper

storage and warehousing, lack of transportation and food processing
facilities. There is a significant shift in consumer food preference
towards processed food products. Entrepreneurs can add value with
proper management and marketing initiatives. The processed food
market opens a great potential for entrepreneurs be it fast food,
packaged food or organic food.
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Entrepreneurial Opportunities in Agriculture:


Floriculture

floriculture is a very
lucrative sector. India's
share in world trade of
floriculture is just 0.18
per cent. This is a huge
market to be tapped
considering the rising
demand for fresh flowers.

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Entrepreneurial Opportunities in Agriculture:

• Production of agro-inputs:


Farmers can start entrepreneurial activities in the production of
seed, organic fertilizers and pesticides.

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Let Us Sum Up


Entrepreneur is one who identifies and sensitizes the opportunities, innovate
the ideas, raises money, assembles inputs and set and mange the organization



The introduction of entrepreneurship in agriculture requires development of
certain qualities and skills like positive self concept, moderate risk taker,
planning, innovative, information and opportunity seeking, etc. in an
entrepreneur.



Important entrepreneurship development opportunities in agriculture are
diversification in agriculture, income from venture technologies, food
preservation, processing and value addition, production of agro-inputs. The
entrepreneurial qualities and skills can be developed through vocational
education programmes and training.

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