ENTREPRENEUR: The entrepreneur is the person who combines the all other factors of production. He coordinates and directs the factors of production to produce goods and services.
An entrepreneur is a person who organises the other factors and undertakes the risks and uncertainties involved in the production. He hires the other three factors, brings them together, organises and coordinates them so as to earn maximum profit. For example, Mr. X who takes the risk of manufacturing television sets will be called an entrepreneur.
An entrepreneur acts as a boss and decides how the business shall run. He decides in what proportion factors should be combined. What and where he will produce and by what method. He is loosely identified with the owner, speculator, innovator or inventor and organiser of the business. Thus, entrepreneur ship is a trait or quality owned by the entrepreneur.
Features of Entrepreneur
- The entrepreneur takes the risk in a business
- He coordinates and manages all the other factors of production
- The entrepreneur makes the decision in the organization
- Provides the capital
- The reward for an entrepreneur is “profit”
Functions
An entrepreneur performs the following functions:
(i) He conceives the idea of launching the project.
(ii) He mobilizes the resources for smooth running of the project.
(iii) The decision of what, where and how to produce goods are taken by the entrepreneur.
(iv) He undertakes the risks involved in production.
(v) He is an innovator. He innovates new techniques of production, new products and brings improvements in the quality of existing products. He is in fact the captain of the industry.
Farm Manager
A farm manager is responsible for the management and general maintenance of a farm. On a crop farm, a farm manager will supervise the fertilizing, planting, spraying, cultivating and harvesting procedures of crops. On a livestock farm, he or she will supervise the general care of the animals and be diligent in the control of illnesses.
What does a Farm Manager do?
There are many types of farms that a farm manager might be in charge of running. The four main types of farms include:
Crop farms –
This type of farm specializes in growing cultivated plants that are mainly harvested for food, clothing and fuel. The most common crops include grain, cotton, fruit, and vegetables. A farm manager that works on this kind of farm is responsible for tilling, planting, fertilizing, spraying, cultivating, and harvesting crops. After the harvest, the farm manager will make sure the crops are properly stored and packaged for purchase.
Horticulture –
Horticulture is defined as the branch of agriculture that deals with the art, science, and business of plant cultivation. A farm manager that works on this kind of farm oversees the production of ornamental plants and nursery products such as flowers, shrubbery, fruits, vegetables, nuts, seeds, and herbs, to name a few.
Aquaculture –
Aquaculture farmers raise organisms like fish, crustaceans, molluscs, and aquatic plants. This could be in marine, brackish, or fresh water. These farm managers help to stock, feed and raise these types of aquatic life to be sold for consumption or for recreational fishing.
Livestock –
This type of farm raises domesticated animals for labour purposes or to produce commodities such as fibre and food. Some farms may specialize in one or multiple kinds of livestock. Some of the more common livestock farms include cows, chickens, sheep, pigs, goats, and horses. The farm managers are in charge of getting the animals fed and watered, and also keeping them healthy. They need to make sure the barns, pens, and coops where they are kept, are in clean and liveable condition. They also oversee all breeding activities.
Assessment
Mention 3 functions of a Farm Manager