Empowering Women Entrepreneurs To Drive Growth

Em causeing Women entrepreneurs To let GrowthThe name Entrepreneur coers psyches who encounter mickle and aptitude and ar capable of converting vision in to litigate for the good of the society. payable to changes in demand in the Market, at that place is a scope for a class of people on large who stool convert the open resources into good of society, cal direct Entrepreneurs.So, a soul who farm skill, initiative and innovative estimations for racy deliver the goodsments in seam, and any-important(prenominal) qualities of an Entrepreneurship is taking the risk and make the necessary investments under the conditions of un currentty. Entrepreneurship is a process of understanding opportunities in the environment, with respect to unitys have abilities, with a view to create wealth for adeptself with a legal entity. A close relationship exists between opportunity and individual ineluctably. To be an entrepreneurial opportunity, a prospect must collaborate 2 tests it must represent a plummy future state, involving growth or at least change and the individual must believe it is realizable to take place that state. So, Entrepreneurship is understood by, being innovative, risk taking, dynamic, flexible, growth-oriented, creative, starting and op eonting vernalfangled ventures.Now is the magazine for Women to venture into the Entrepreneurial macrocosm. Women possess melodic phrasees argon exceedingly change magnitude in the economies of almost all countries. The hidden entrepreneurial potentials of women ease up little by little been changing with the growing sensitivity to the role and economic lieu in the society. Skill, K forthwithledge and adaptability in vexation ar the main reasons for women to go on into vocation ventures. Women Entrepreneur is a person who accepts challenging role to meet her personalized needs and bring to the highest degree economically self-goerning. A bullnecked go for to do just aboutt hing positive is an inbuilt quality of entrepreneurial women, who is capable of modify determine in both family and kindly life. With the advent of media, women be assured of their own traits, indulged in all line of pipeline from pappad to power cables. The challenges and opportunities provided to the women be women of digital era argon growing rapidly that the p arntage seekers atomic number 18 turning into job creators. They ar flourishing as designers, interior decorators, exporters, publishers, primp manufacturers and still exploring immature avenues of economic alliance. In India although women constitute the majority of the inwardness population, the entrepreneurial domain is still a male dominated one. Women in advanced nations atomic number 18 recognised and be more prominent in the credit line world. 2010 was the first era ever thither were more women in the shit force than men. In terms of women- have business organisationes, between 1997 and 2 011 there was a 50% increase, while male owned business lonesome(prenominal) grew 25% (According to Ameri back end Express Report). wherefore Women acquit excellent Entrepreneurs in the digital Age? How Women argon despotic the entrepreneurs landscape and are using their skills to succeed. As times are tough for everyone, more families are moving towards dual-income households. withal engineering advancements are making a virtual give outplace possible for women, who are looking to relief family and their career.In the digital landscape, women tend to birth certain skills that create a competitive usefulness.Strong Communication Skills hearty Intelligence.Good Listeners.Collaborative.Prefer Lower Risk.A dynamic Entrepreneurship sector is one of the various factors for prosperity of economy which is necessary to leverage the wealth and initiation capacity of the bursted countries.This inventionual paper indicates and emphasizes the Women Entrepreneurs as the potentially uphill human resources in the 21st vitamin C to overcome the economic challenges in globular perspective.Key WordsEntrepreneur Individual holding vision for creating opportunity for economic growth.Challenges Impediments on the way towards actionment of final goal.Opportunities Chances for exploitation professionally or personally.MethodologyThis is a concept paper and the police detective has adopted the method of reviewing different research obliges, research journals and case studies to lift up data ab disclose entrepreneurship and women entrepreneurship which is consequently incorporated as a concept paper drafted by the researcher.*******INTRODUCTION TO ENTREPRENEUR/ENTREPRENEURSHIPEntrepreneurship is often associated with a person who starts his own, new and base business, like manufacturing, transport, trade and all other poverty-stricken-lance vocations in the service sector. But non every new small business is Entrepreneurial or represents Entrepreneurship.In the early 1th century, the Frenchmen, who organised and led military expeditions were offered to ad Entrepreneur. Around 1700 A.D. the term was use for architects and contractors of public wee. The term Entrepreneur was applied to business initially in the 18th century by the French Economist, Cantillon, who was designated as a dealer who purchases the promoter of ware for combining them into marketable products. Another Frenchman, J.B. Say expanded Cantillons judgement and conceptualized the Entrepreneur as a organizer of business firm, central to its distributive and productive functions.According to J.B Say, An Entrepreneur is the economic agent who unites all means of production, the labour force of the one and the capital or land of the others and who finds in the value of the produces which results from their employment, the reconstitution of the entire capital that he utilizes and the value of prosecutes the cheer and the rent which he pays as well as profits be to himse lf. According to current opinion, Entrepreneurship is the ability of a person who detects and evaluates a new situation in his environment and directs the making of such adjustment in the economic arranging as he deems necessary. The term Entrepreneur covers individuals who have vision and skill and are capable of converting vision in to action for the good of the society. Due to changes in demand in the market there is a scope for a class of people on large-scale who can convert the available resources into good of society, called Entrepreneurs. During the above process, the Entrepreneur needs to discharge several functions to succeed in his activities like, innovation, risk bearing, decision making, planning, controlling.. and so on and should possess entrepreneurial skills like technical skills, draw awayrial skills and personal skills.In India, the Entrepreneurial aimment programmes are taking place to discontinue entrepreneurs, like, sharpening individual behavior and tra its, guidance on project planning and tuition of business opportunities that come in the way, and developing managerial and operational capabilities. These activities are very important in the economic growth of the coun prove. Since, the small-scale Industries are forming a major part of the economic growth of the country, the importance of the Entrepreneur is gaining momentum and they are the need of the hour to have a rapid economic growth.Entrepreneurship is not just confined to any one gender now kind of imputable to multi- flavourted economic pressures women have turned up and realized that the survival of their families their own potential lies only in work side by side with men. Marlow, (2002). Education of womanhood have no doubt habituated them immense self-assertion encouragement to serve discover new business avenues. However the ground realities do differ to a vast utmost as far as geographical boundaries are concerned. Globally women are considered as weake r gender physically and emotionally, accordingly prospects open for them to develop into business professionals is an area still quite unexplored and needs attention. Wennekers, (1999).Overcoming the challenges of business world are no doubt more treacherous for women than their male counterparts, therefore they undergo various impediments to achieve their business success. Allen and truman, (1993). Fortunately due to technological advancement means of confabulation the world has turned into a global community which has created new channels opened up avenues for women to explore not only their potential aptitudes rather search for better business opportunities. Carter, (2001).ENTREPRENUERSHIP FOR WOMENA question arises here that what Entrepreneurship means for a woman?How a women conceives the idea of Entrepreneurship?Definition An enterprise owned and controlled by women having a minimum financial interest of 51% of capital and crowing at least 51% of employment generated in the enterprise to women. Women who think of a business enterprise, grow it, organize and combine the factors of production, operate the enterprise and under commence risk and turn to economic uncertainty involved in running a business enterprise.Why do Women Take-up Employment?Push FactorsDeath of lollipop winner Sudden fall in family incomePermanent inadequacy in income of the familyPull FactorsWomens desire to evaluate their talentTo utilize their free time or didacticsNeed and perception of Womens Liberation, blondness etc.To gain recognition, importance and sociable status.To get economic independenceThird categoryIlliterate womenFinancially weekInvolved in family business such as Agriculture, Horticulture, Animal Husbandry, Dairy, Fisheries, Agro Forestry, Handloom, Power loom etc.INDIAN SCENARIO The Indian woman see very many an(prenominal) roles, pure, controlling or virtues to vice or downtrodden. Constantly, the role is to a fault undergoing several changes. tour playing their role, Indian Women are confronted with contradictions. Because of these contradictions, they are unable to identify themselves with the society. The attitude, perceptions, roles..etc of Indian Women look like an assembly of diverse fragments. This perplexed situation of Indian women has made it very exhausting to define their roles and they cannot identify their roles for themselves. Because of this plain faithfulness assuming the role of entrepreneur and leadership for an Indian Women was a arduous task. But still times have changed. The present society is waiver the Indian Women from the chains and shackles of centuries.This is slow but definitely shift over is happening for the following reasonsThe concept of Globalization is accepted in a big way.The sudden emerging trend in information technology and its percolation to every segment of life.Adoption of diversified culture in the Indian society due to globalization and other inherent ethos of Indian society.Un lodgeed happenings around the world and their impact on Indian society. turn in socio- cultural context due to increased education for women since independence.Change in political ideology and governance of the country.But, In India, the role of Women Entrepreneur is no less significant. Nearly 9% of total Entrepreneurs in small industries are women entrepreneurs. State-wise distribution shows a wide variation between different states. Punjab accounts for 3%, Gujarat occupies the top position with 15%. The areas chosen by women are sell trade, restaurants, hotels, education, cultural, cleaning, insurance and manufacturing.GROWTH PATHWomen owned businesses are highly increasing in the economies of almost all countries. The hidden entrepreneurial potentials of women have gradually been changing with the growing sensitivity to the role and economic status in the society. Skill, knowledge and adaptability in business are the main reasons for women to emerge into business ventures. Wom en Entrepreneur is a person who accepts challenging role to meet her personal needs and become economically independent. A strong desire to do something positive is an inbuilt quality of entrepreneurial women, who is capable of lend set in both family and affable life. With the advent of media, women are certain of their own traits, rights and in any case the work situations. The glass ceilings are shattered and women are demonstrate indulged in every line of business from pappad to power cables. The challenges and opportunities provided to the women of digital era are growing rapidly that the job seekers are turning into job creators. They are flourishing as designers, interior decorators, exporters, publishers, garment manufacturers and still exploring new avenues of economic participation. In India, although women constitute the majority of the total population, the entrepreneurial world is still a male dominated one. Women in advanced nations are recognized and are more pro minent in the business world.In nineteen seventies, Women entrepreneurship began in is real sense. By this time, the first generation afterwards Independence had completed their education. Educated women to fulfil their aspirations and ambitions began opting for self-employment. This was an active step not taken out of requirements or helplessness, but with zeal to make a better life. In this decade, women were in transition period. They could not come out fully from traditional activities of looking after home, their in-laws, parents, husbands and children. A t the equivalent time they has to get into autonomous economic activities. This was a challenge. eight-spoties and mid-nineties saw a sea change in women entrepreneurship domain. These were the decades of the breakthrough for women to become entrepreneurs in many fields. They developed courage to make new beginnings. Parents also developed a new thinking. The traditional practice of making only progeny as a business partne r in family owned businesses, (law of Inheritance hurting this), parents started their own consultancy houses, providing different types of technical go. Parents started taking their feminine children as partners in their businesses. Government also supported this new thinking by making amendments to Succession Act.Legislations said that both male and effeminate have equal rights in the inherited property. This coupled with professional education made preadolescent ladies to get into self employment. Many became partners in their family owned business. Good number of lady doctors opened their own clinics. Engineering gradational started their own consultancy houses, providing different types of technical services. They also got into service areas like CA, Advocates, cordial reception business and good number opened secretarial offices. Good piece of women took to small business activities. Today we can see many women entrepreneurs in small business.In earlier Five year plans, women entrepreneurship concept was not significantly considered. Only in recent plans, particularly after Eight Five Year Plan, Women Empowerment concept came to lime light. From this plan onwards, women started working on new frontiers. The new generation of women did not think on the lines of their mothers. They stated developing independent activities. They had aspirations and ambitions. Taking to self-employment was not out of compulsion or helplessness. It became a desired choice of many ladies to design and develop their own enterprise.Women started thinking that self-employment as an integral aspect of their life. They started thinking on the lines selecting their own careers. Adopting own occupation for income generation without deviating much from the social system is becoming a key factor in a womans life. Besides having home and children, women have started thinking to have an independent occupation. While accepting the traditional people behaviour, from older generation , women today expect understanding and support from their husbands and children to have their occupational choice. As entrepreneurs, women want their illustration to be heard as leaders, as they are capable of contributing to the growth and success of their enterprise.But the Indian women entrepreneurs are facing some major constraints like a) Lack of confidence In general, women lack confidence in their strength and competence. The family members and the society are reluctant to stand beside their entrepreneurial growth. To a certain extent, this situation is changing among Indian women and yet to face a tremendous change to increase the rate of growth in entrepreneurship.b) Socio-cultural barriers Womens family and personal obligations are sometimes a great barrier for come through in business career. Only few women are able to manage both home and business efficiently, devoting enough time to perform all their responsibilities in priority.c) Market-oriented risks Stiff competit ion in the market and lack of mobility of women make the dependence of women entrepreneurs on middleman indispensable. Many business women find it difficult to capture the market and make their products popular. They are not fully aware of the changing market conditions and hence can effectively utilize the services of media and internet. d) Motivational factors Self motivation can be realized through a mind set for a successful business, attitude to take up risk and behaviour towards the business society by shouldering the social responsibilities. Other factors are family support, Government policies, financial assistant from public and hole-and-corner(a) institutions and also the environment suitable for women to establish business units. e) Knowledge in Business Administration Women must be educated and trained constantly to acquire the skills and knowledge in all the functional areas of business management. This can facilitate women to excel in decision making process and deve lop a good business network. f) Awareness about the financial attention Various institutions in the financial sector extend their maximum support in the form of incentives, loans, schemes etc. Even then every woman entrepreneur may not be aware of all the assistance provided by the institutions. So the sincere efforts taken towards women entrepreneurs may not reach the entrepreneurs in countryfied and backward areas.g) Exposed to the training programs Training programs and workshops for every type of entrepreneur is available through the social and welfare associations, establish on duration, skill and the purpose of the training program. Such programs are rattling useful to new, rural and young entrepreneurs who want to set up a small and medium scale unit on their own.h) Identifying the available resources Women are hesitant to find out the access to cater their needs in the financial and marketing areas. In spite of the mushrooming growth of associations, institutions, and the schemes from the government side, women are not enterprising and dynamic to optimize the resources in the form of reserves, assets humankind or business volunteers. Highly educated, technically sound and professionally strung-out women should be encouraged for managing their own business, rather than dependent on wage employment outlets. The unexplored talents of young women can be identified, trained and used for various types of industries to increase the productivity in the industrial sector. A desirable environment is necessary for every woman to inculcate entrepreneurial values and involve greatly in business dealings.The additional business opportunities that are recently approaching for women entrepreneurs are Eco-friendly technology Bio-technology IT enabled enterprises Event Management touristry industry Telecommunication Plastic materials Vermin-culture Mineral water Sericulture Floriculture herbal health care Food, fruits vegetable processingEmpowering women entrep reneurs is essential for achieving the goals of sustainable development and the bottlenecks hindering their growth must be eradicated to entitle full participation in the business. Apart from training programs, Newsletters, mentoring, trade fairs and exhibitions also can be a source for entrepreneurial development. As a result, the desired outcomes of the business are quickly achieved and more of remunerative business opportunities are found. Henceforth, promoting entrepreneurship among women is surely a short-cut to rapid economic growth and development. Let us try to eliminate all forms of gender discrimination and thus allow women to be an entrepreneur at par with men.Women Entrepreneurs in the Digital AgeWhy Women Make outperformlent Entrepreneurs in the Digital Age2010 was the first time ever there were more women in the work force than men. In terms of women-owned businesses, between 1997 and 2011 there was a 50% increase, while male-owned business only grew by 25% ( America n Express report). Women are dominating the entrepreneur landscape and are using their skills to succeed.HOW.WHY ?As times are tough for everyone, more families are moving towards dual-income households.(as briefed above with push and incline factors)Also, technology advancements are making a virtual workplace get-at-able for women, who are looking to balance family and their career. By creating a more agile environment, flexibility is achievable .Womens Competitive EdgeIn the digital landscape, there is a stronger growth in women entrepreneurs than men, they could use these skills, many naturally possess, to achieve success.The studies conducted by many scholars with reference to Women competitive edge, believes women tend to possess certain skills that create a competitive returns like,Strong Communication Skills kindly IntelligenceGood ListenersAmbitiousEnthusiasticPatienceDetermination to ExcelCollaborativePrefer Lower RiskDo womens strong communication and social skills m ake them more equipped to thrive in our post-industrial digital age? In short, do women have specific skills whether the result of biota or social conditioning that can help them succeed as entrepreneurs?The review of literature reveals, helping entrepreneurs and small business owners launch their brands, It is potently believed there are several traditionally feminine leadership qualities that are more significant now than ever.5 reasons why women make great entrepreneurs in the digital eraIs todays business environment more shoot for for feminine entrepreneurs?Take a look at the points below and let us know whether you think theyre true or not.1. Women possess strong communication skills and social intelligence. The digital economy requires these skills, and women enjoy a urbane edge over their male counterparts (according to numerous studies).2. Women make good listeners. Whether due to biology or cultural conditioning, women tend to be better listeners and are stronger at drawing people into conversation. This translates to several advantages for the entrepreneur, who can better correct herself to customer needs and build more effective teams of employees, contractors and partners. In fact, many women entrepreneurs often describe building their business as building a team.3. Women collaborate. Women have worked well together since the earliest female enterprises, whether dividing grains in the colonization or working in quilting bees. Even some of todays cultural stereotypes have legs, for instance, womens joint trips to the restroomA 2009 Time magazine article by Claire Shipman and Katty Kay regularizes, Women are consensus builders, conciliators and collaborators, and they employ what is called a transformational leadership style heavily engaged, motivational, highly well suited for the emerging, less hierarchical workplace. The article, entitled Women Will master Business, cited projections from the Chartered Management Institute in the UK. L ooking ahead to 2018, CMI believes the work world will be more fluid and virtual, and the demand for female management skills will be stronger than ever.4.Women prefer dismantle risk. Researchers have begun counselling on the relationship between testosterone and excessive risk, thus evaluating whether groups of men spur track each other toward reckless decisions. Whether testosterone influences decision-making or not, research shows that, as a whole, women prefer lower risk opportunities and are willing to settle for lower returns.Virtual workplaces and digitally mobile lifestyles give aspiring women entrepreneurs the flexibility to achieve the balance between work and family. Digital tools mean that women can now build a business from home and create unique work schedules.Risk aversion may go hand-in-hand with motivations for starting a business. A 2007 study from the Small Business Administration (Are Male and Female Entrepreneurs very That Different?) observes the differences between male and female entrepreneurs in the U.S. The results found that male owners are more likely to start a business to make money, and have high expectations for their business. Women are more likely to prioritize that business and personal lives work in harmony.The digital age offers a wealth of low-risk opportunities. Ventures like blogging, web-based services, e-commerce and software development require smaller upstart cost than manufacturing-based, brick and mortar type businesses. Cloud-based tools and virtual work forces further lower the cost of entry, making the idea of starting a business more feasible and/or palatable for risk-averse entrepreneurs.But a strength can also be a weakness. Yes, the tendency to minimize risk can lead to higher success rates for female entrepreneurs. However, risk-phobia can also mean women are more likely to limit the size of their businesses, and less likely hire outside funding from investors to fuel growth. On an average, men-owned f irms are larger than women-owned firms. Its up to each individual business owner to define the goals of his or her business. If a woman chooses to pursue a smaller business venture that lets her balance her business and personal life in more harmony, more power to her. For now, I think we should celebrate the growth in women entrepreneurs, but also wonder if woman-owned high growth startups are an under-utilized resource in our economy. Its time we made space for the underdog if that term even applies anymore.What do you want to say?Click here to cancel reply. Next generation of female entrepreneurs at heart of businessThe next generation of entrepreneurs bucking the economic trend by putting values back at the heart of business. And women are giving men a run for their money. The successful female social entrepreneurs as role models for women in business and aspiring female entrepreneurs. Unlike the mysterious sector, women who set up and run a business with a social or community purpose are as widespread as their male counterparts.At the risk of generalizing, women have a real advantage in leadership that might be a great advantage in the business world. They can act and lead while staying tuned into their colleagues. beingness confident enough to use that is crucial. Women leaders shouldnt try to be one of the guys. They can use their natural gifts to their advantage.Sam Baumber, Business Development director at the Social Enterprise Academy says that female social entrepreneurs are the role models for business leaders in the current economic climate.Women who are leading successful social enterprises are role models for women thinking about setting up their own business. In the current climate social enterprise is thriving and these inspiring women prove that values of team work and emotional intelligence that women often bring as leaders can help build successful and resilient businesses.Many of our graduates who started with an idea and ruin passion and have developed into leading female social entrepreneurs in India and we hope their success stories will help others with an idea to make it happen. few matches few matches Fewer matches Fewer matchesWomen in Business Challenge 2013Empowering Women Entrepreneurs to Drive Growth-some success stories1st flourishing Women Entrepreneur Priyanka Malhotra.Priyanka Malhotra is successful women entrepreneur in India. She is operating the business of book publishing and also devotes her time in cafe business. She did graduated in printing and publishing from London college of publishing. She also holda the degree of M.Sc in media and communication field. After this, she came to India and became successful business women in Delhi. Priyanka thinks differently about the idea of scaling her businesses.2nd Successful Women Entrepreneur- Bhawana Kakkar Bhawana Kakkar is young graduate women in painting and arts. She did also postgraduate in ruse history from Baroda University. She has huge experience in fashion designing in India and she opened Art gallery. She is also publishing magazine named Take-Simple Black.3rd Successful Women Entrepreneur Manju Bharatram Mr. Manju Bharatram was a simple child for whom school wasnt smart experience. Just like many other. And the day she saw her own children spirit the same as well, she became a social entrepreneur.4th Successful Women Entrepreneur Rajashree Birla Rajashree Birla is a successful women entrepreneur and chairperson of Aditya Birla Centre for Community and rural development. Her focus is on the all-round development of the communities around our plants located mostly in distanct rural and tribal belts. All our group companies, Grasim, Hindalco, Aditya Birla NMuvo, Indo Gulf and basal Tech have Rural Development Cells which are the apparatusation bodies.fifth Successful Women Entreprenuer-Shruti Shruti is a degree holder in Chemistry from University of dada and she did worked with Merrill Lynch. She came bac k India after in USA and started her own hotel business and became a successful women entrepreneur in India. Fewer matches Fewer matches Fewer matches Fewer matchesConclusionEntrepreneurship is presently the most discussed and encouraged concept all over the world to overcome economic challenges. Women being the vital gender of the overall population have great capacity and potential to be the ratifier in the overall economic development of any nation. Therefore, programs and policies need to be customized to not just encourage entrepreneurship as well as implement strategies which can help support entrepreneurial culture among youth. Media has the potential to play the most vital role in entrepreneurial development by creating and highlighting all such platforms which can bring out the creativeness and innovation among the women and men to grow entrepreneurship culture in society. Developing countries are definitely in dire need to encourage women entrepreneurship as women workfo rce is promptly available to exploit the unexplored dimensions of business ventures. Developed nations should in the main focus on entrepreneurial educational programs in order to develop women entrepreneurs.