An Integral Shift in Conventional Extension Approaches towards Agri-Preneurship Development

Abstract

Agribusiness (also called bio-business or bio-enterprise) refers to the enterprises, the industry, the system, and thus the world of study of the interrelated and interdependent value chains in agriculture and bio-economy. The first goal of agribusiness is to maximize profit while sustainably satisfying the requirements of consumers for products regarding natural resources like biotechnology, farms, food, forestry, fisheries, fuel, and fiber — usually with the exclusion of non-renewable resources like mining. Agribusiness isn't limited to farming. It encompasses a broader spectrum through the agribusiness system which incorporates input supplies, valueaddition, marketing, entrepreneurship, micro-financing, agricultural extension, among others. In some countries a touch just like the Philippines, creation and management of agribusiness enterprises require consultation with registered agriculturists if reached a specific level of operations, capitalization, land area, or number of animals within the farm. The term value chain was first popularized during a book published in 1985 by Michael Porter, who used it for instance how companies could achieve what he called “competitive advantage” by adding value within their organization. Subsequently, the term was adopted for agricultural development purposes and has now become considerably hip among those working during this field, with an increasing number of bilateral and multilateral aid organizations using it to guide their development interventions. At the middle of the agricultural value chain concept is that the thought of actors connected along a sequence producing and delivering goods to consumers through a sequence of activities. However, this “vertical” chain cannot function in isolation and a crucial aspect of the worth chain approach is that it also considers “horizontal” impacts on the chain, like input and finance provision, extension support and thus the general enabling environment. It’s used both for upgrading existing chains and for donors to spot market opportunities for little farmers.