Indian Women: Natural Potential to be an Entrepreneur

v    Introduction:

It is general belief in our society that role of women is restricted in four walls of home or you can say women are involved in mainly household activities like cooking and reading. Economy of any country can’t boom without contributing women. The growing industrialization, urbanization and social legislation and with the spread of education and awareness women have shifted from kitchen to higher level of professional activities. Today’s women are taking more and more professional and technical degrees to cope up with market need.

 

The position of women and their status is any society is an index of its civilization. Women are to be considered as equal partner in the process of development. But, because of centuries of exploitation and subjugation Indian women have remained at the receiving end. Women in India have been neglected lot. They have not been actively involved in the mainstream of development even through they represent equal proportion of the population and labor force. As technology speeds up lives women are as emerging economic force which can not be neglected by policy maker. The world’s modern democratic economy depends on the participation of both sexes.

Today women is advance market economies own more then 25% of all businesses & women owned business in Africa, Asia, Eastern Europe and Latin America are growing rapidly. Women as an independent target group account for 495.74 million and represent 48.5% of the country’s population as per the 2001 census. No country can achieve its potential without adequately investing in and developing the capabilities of women. In the interest of long-term development it is necessary to facilitate their empowerment.

In many developing countries including India women have much less access to education, jobs, and income then men. Ever after five and half decade of planned development Indian women have not achieved expected success in the mainstream of life. Our country will be unable to have a competitive edge over others until and unless the status and role of women is improved. In Indian context, National level Standing Committee on Women Entrepreneur constituted by the Ministry of Industries The Govt. of India(1984) notes women entrepreneur as “An enterprise owned and controlled by women having a minimum financial interest of 51% of the capital and giving at least 51% of  employment generated in the enterprise to women. ” However, the validity of such a definition had been challenged at every step particularly in 8th National Convention of Women Entrepreneurs held in 1990. Finally the schemes that were offered condescend to drop the second requirement but the first is applicable till today. The generally accepted definition includes women who create something new, organize production and undertake risk and handle economic uncertainties (Anuradha, 1988) to adjust their personality needs, family life, social life and economic independence (Singh and Gupta, 1985) .Further they may not necessarily be the independent organizermanager (Singh et.al., 1986)

According to Kamala Singh,” A women entrepreneur is a confident, innovative and creative woman capable of achieving economic independence individually or in collaboration generates employment opportunities for others through initiating establishing and running an enterprise by keeping pace with her personal, family and social life.

According to Medha Dubhanshi Vinze, a women entrepreneur is a person who is an enterprising individual with an eye for opportunities and an uncanny vision, Commercial acumen, with tremendous perseverance and above all a person who is willing to take risk with the unknown because of the adventures spirit she possesses.

Thus a women entrepreneur is one who starts business and manages it independently and tactfully takes all the risks, faces the challenges boldly with an iron will to succeed.

 

Entrepreneurship before it was considered as a male dominated activity but time has changed the situation and brought women as today’s most memorable and inspirational entrepreneur. Today you can see a women in every where whether it is super market or departmental store. Even in rural area in STD PCO shop also. We can states the example of Shanaj Hussain , Kiran majumdar  who started their business at small level now they have reached a great height. It is a good sign for country that Indian women are coming out from their home and contributing in national economy because a little beginning can show great results. Women have all the traits that are required to run an enterprise but there is only need to identify them and work on that direction. Being a woman is not a weakness for them it is strength or a god given advantage for them

If we look a site on physiological variables in men and women we will find that

v    Female has more nerve cell in central areas

v    Women transfer data due to larger corpus collusm making it easier for increased flexibility and multitasking

v    Gray Matter the part that allows thinking is 55.4% in women and 50.8% in men

These data reveals us that women are empowered with natural advantage that aid in creating, developing and fostering relationship

If we see the role of a woman in their home we’ll find that the psychological characteristics that she required to mange their home best fit in their entrepreneurial characteristics. All the women who are running their home can successfully run an enterprise al effort in this article to correlate women inherit characteristics with entrepreneurial characteristics.

S.N.

Basic Characteristics of a Indian women

Characteristics required for a Successful Entrepreneur

1.

Indian women are known for juggling many tasks at same time in their personal lives for e.g. women can talk on phone and the same time she can easily handle their kitchen also.

Multi task oriented

This attribute is known as multi task oriented that is most essential trait for an entrepreneur this help in saving time and  handling more works

2.

Indian women can easily connect with people and they don’t hesitate to ask for help. Indian women always do this  in their routine life like  to take admission in new school she contact with guardians and get information about best school

This trait of women in our business language known as ability to make strong network

3

Indian women are very calm and they solve any family problem gently. Indian  women show great extent of patience in their family life

Being patient is most urgent for an entrepreneur. To receive result an entrepreneur have to wait till the process is complete

 

4.

Indian women always give emphasize on positive attribute of any product weather it is related to health or any home accessories. She always ready to tell others about their positive experience

Marketing skill

This skill of women in business language known as marketing skill women are natural marketer. To emphasize the benefit of their service to their potential customer this skill is required to run an enterprise.

5.

Women are thorough with their daily task. they don’t get bored with their routine activities

This attribute of women is known as being consistent and thorough with daily task.  This attribute help women to get more clients, they get more chance to be seen by potential customer if they consistently watching  your name like providing consistently good product and services help with maintain customers

6

women can effectively mange their house budget, they are more aware about price of the product

Having cost conscious is very crucial to run an enterprise. To solve the problem of scarcity of funds an entrepreneur should be cost effective.

7

 

Indian women can easily grasp anything that is new either it is any food recipe or any new required skill

Open and willingness to learn  is most essential for an entrepreneur to survive in this competitive world

8

Indian women can easily adjust in joint family and can work with them coordinately

 This attribute of women show team work and loyalty in women that required if u work in a group

9

Indian women always fight for their problems and take initiative and try to solve any family matter

This attribute of women called as ability to focus intensely and decision making

10

In spite of having lots of responsibilities problem  she always try to think about themselves like further study or career advancement

This quality of women shows that they are highly ambitious and an entrepreneur  have to be ambitious

Effective entrepreneurs require certain basic qualities which can be listed as follow -

• Innovative thinking and farsightedness
• Quick and effective decision making skill
• Ability to mobilizes and marshal resource.
• Strong determination and self confidence.
• Preparedness to take risk.
• Accepting changes in right time.,
• Access and alertness to latest scientific & technological information

 In spite of having all the characteristics of being a women entrepreneur a women face lots of problems that hurdle them to be an entrepreneur

 

v    Problems of women entrepreneurs

Women owned business are highly increasing in the economics of almost all countries. The hidden entrepreneurial potential of women has gradually been changing with the growing sensitivity to the role and economic status in the society. Skill, knowledge & adoptability in the business are the main reason for women to emerge in to business venture. Women entrepreneurs” is a person who accepts challenging role to meet her personal needs and become economically independent, strong desire to do something positive is an inbuilt quality of entrepreneurial women who is capable of contributing values in both family and social life.

Women is advanced nation are recognized are more prominent in the business world but the Indian women entrepreneurs faced many problem to get ahead their life in business.

 

A few problems can be detailed:-

 

1. The greatest deterrent to women entrepreneurs is that they are women. Male member think it is a big risk financing the venture by women.
2. The financial institutions are skeptical about the entrepreneurial abilities of women. The bankers consider women loonies as higher risk then more loonies. The bankers put unrealistic and unreasonable securities to get loan to women entrepreneurs.
3. The women entrepreneurs are suffering from inadequate financial resource &and working capital. The women entrepreneurs lack access to external funds due to their inability to provide tangible security. Very few women have the tangible property in hand.
4. Women’s family obligation also bar them from becoming successful entrepreneurs in both developed and developing nation. The financial institutions discourage women entrepreneurs on the belief that they can at any time leave their business and become housewives again. The result is that they are forced to rely on their own saving and loan from relatives and family friends.
5. Indian women give more emphasis to family ties and relationship. Married women have to make a fine balance between business and home. The interest of the family member is a determinant factor in the realization of women folk business aspiration.
6. Another argument is that women entrepreneurs have low management skills. They have to depend on office staffs and intermediaries to get things done especially the marketing and sales side of business.
7. The male female competition is another factor which develops hurdles to women enterprises in the business management process.
8. Lack of knowledge of availability of the raw material and law level negotiation & bargaining skill are the factors which affect women entrepreneurs’ business venture.
9. Knowledge of latest technological change, know-how and education level of person is significant factor that affect business. The literacy rate of women in India is found at low level compare to male population although great advance are being made in technology , many women’s literacy , structured difficulties and lack of access to technical training prevent the technology from being beneficial of even available to female.

The studies indicated that uneducated women do not have the knowledge of measurement and basic accounting.

10. Low level risk taking attitude is another factor affecting women folk decision to get into business. Low level education provides low level self-confidence and self reliance to the women fork to engage in business. Which is continuous risk taking and strategic decision making profession .Though the risk tolerance ability of the women folk in day to day life is high compare to male member while in business it is found opposite to that.

11. Achievement motivation of the women folk found less compared to male member. The low level  of education and confidence leads to low level of achievement and advancement motivating  among  women folk to engage in business operation and  running a business concern.

12. Finally high production cost of some business operation adversely affects the development of women entrepreneurs. The installation of new machinery during expansion of the productive capacity and like similar factor dissuades the women entrepreneur from venturing in to new area.

 

v    Strengths of Women Entrepreneur

Despite the many challenges women face, this early socialization has given women specific traits and abilities that define the female model of business ownership. This different management style can be an asset and one from which men can learn. The style can be described as more cooperative than the competitive male model now taught in business schools. This style is often further developed through volunteer activities in early adulthood. The cooperative style naturally used by most women comes from their early experiences and focuses on the welfare of the group. Participation is shared among the employees with attention paid to their ideas and needs. The style often extends to social issues that are frequently driving forces within the company. The business strategy is formed through active listening and educational experiences and focuses on issues—not just the bottom line. The ability to build relationships is an asset with customers and suppliers, and in the international marketplace. In order to overcome the obstacles they face, women often come up with creative, out-of-the-ordinary methods to help further their goal.

These variables help define the cooperative style that has developed from early socialization of females. Once aware of these traits they become more apparent to observation. This cooperative style is easier to recognize in women business owners where the women are not conforming to a culture set by males in a large corporation. This new, distinctive business is one from which we all can learn. The new model of business for the next century will combine the talents of this cooperative style used by women with the more traditional business approach.

 

 

 

 

 

v    Conclusion:-

 

Matching the basic qualities required for entrepreneur and the basic character of Indian women reveal that much potential is available among the Indian women on their entrepreneurial ability. This potential is to be recognized and exposed for utilization in production and service sector for the development of the nation. Women have all the disposition of becoming a successful entrepreneur just identify your passion and start living it

So wishing all the women the very best of their lives. We hope to have a world that is more respectful toward a woman

It is rightly said –well begun is half done

v    Reference:-

1. Aliva Mohanty “Women in Management of Micro enterprise Problems and Prospects” Journal of social science vol.8 (3) pp.245-251 (2004)
2. Adhikari Shilpee “Women Entrepreneurs New Face of Women” , Saroj institute of technology and management , Lucknow: 2004
3. Medha Dubhashi Vinze ” Women Entrepreneurship In India” Mittal Pub. New Delhi,: pp112,  1987.
4. Mishra S.P. ” Factor Affecting Women Entrepreneurship in Small and Cottage industries” ILO, Nov. 1996
5. Prasad Anuradha, 1988Entrepreneurship Development under TRYSEM; ICSSR reviewer, Kuldeep Mathur Concept Pub. Co., New Delhi
6. Singh, Kamala, Women Entrepreneurs, Ashish Publishing house, New Delhi, 1992.

 

 

 

 

About the Author

Mrs. priya Dadhich

Research Scholar

MDS university, Ajmer, Rajasthan

Mob. 9413511969

mspamala@gmail.com

ms_priya07@yahoo.co.in

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The Peebles Principles $24.95 Tales and tactics in entrepreneurship from the CEO of the country s largest Black-owned real estate development firm Part Art of the Deal and part Why Should White Guys Have All the Fun?, this book tells the story of Mr. Peebles journey from a HUD appraiser of low-income housing to a developer of office buildings, hotels, and luxury condominiums in cities across the nation. Highlighting the key business lessons he learned on the road to building a quarter-billion-dollar personal fortune, Peebles offers a first-person, behind-the-scenes look at what it takes to succeed as an entrepreneur and businessperson from the ground up. Packed with practical, hard-won wisdom and personal business insight, The Peebles Principles provides valuable lessons and fascinating anecdotes for both aspiring and successful entrepreneurs. R. Donahue Peebles (Miami, FL), Chairman and CEO of The Peebles Corporation, is one of the most successful and recognizable real estate developers in the nation. He is the country s largest African American developer with more than $4 billion of current development projects in major cities including Miami, San Francisco, Las Vegas, Detroit, and Washington, D.C. A former chairman of the Greater Miami Convention and Visitors Bureau, Peebles and his real estate projects have been profiled or featured in the New York Times, the Washington Post, Forbes, USA Today, Inc., Black Enterprise, the New York Post, the Miami Herald, and the Wall Street Journal, among other prominent publications. He has been profiled on CNBC and CNN Financial Network and has appeared as a guest on Bloomberg Radio, as well as other local and national programs.

The Wall Street Journal. Complete Small Business Guidebook $11.99 Because starting a small business is not only a huge financial risk but also a complete lifestyle change, anyone who wants to be his or her own boss needs to approach entrepreneurship thoughtfully and with careful planning. That’s why there is no better resource than The Wall Street Journal Complete Small Business Guidebook, a practical guide for turning your entrepreneurial dreams into a successful company, from America’s most trusted source of financial advice. It answers would-be