The farmer’s entrepreneurial skills are of utmost importance in the daily management and operations of a farming enterprise.  The agricultural student is introduced to the various forms of ownership.  To ensure that the prospective farmer manages viable economical farming units, he/she must know how to formulate a farming strategy, as well as have a good understand of the environment.  The composition of the farming management plan comprising of the different farming activities is explained.  Finally, the importance of estate planning and insurance on the farm is discussed.