VAE 511: Livestock Entrepreneurship (1+0)

THE CONCEPT OF ENTREPRENEURSHIP

• Entrepreneurship is a process of identifying opportunities in the market place, arranging the resources required to pursue these opportunities and investing the resources judiciously to exploit the opportunities for long term gains. It involves creating wealth by bringing together resources in new ways to start and operate an enterprise.
• According to Higgins, “Entrepreneurship stood for the function of foreseeing investment and production opportunities, raising capital, hiring labour, arranging the supply of raw materials, finding site, introducing a new technique, discovering new resources or raw materials and selecting top managers for day to day operations of the enterprise”.
• To conclude, entrepreneurship is set of activities performed by the entrepreneur. Thus, entrepreneur proceeds entrepreneurship.