ENTREPRENEURIAL INNOVATION IN AGRICULTURE

Abstract

The aim of the paper is to present innovation entrepreneurship in agriculture as practiced on modern farms. Modern agricultural enterprises utilize innovations and information communication technology in their work, all aimed at achieving maximum profit. In addition to product and service innovation, the paper defines and emphasizes the importance of innovating business models. A business model is the way a company operates in the market, making it recognizable within it. The importance of innovating business models is illustrated through examples of companies that have successfully innovated their business models and the results that innovation has had on their operations and their position in the global market. The paper presents three types of business model innovation: Blue Ocean Strategy, Business Model Canvas, and WOIS.

Keywords

• innovation management
• agricultural management