Challenges Faced by Women Entrepreneurs in The Era of Globalization

Challenges Faced by Women Entrepreneurs in the Era of Globalization ISSN 2319-9725
Dr. Neha Tomar Singh Faculty, Economics, Bhartiya Vidya Bhavan- Usha & Lakshmi Mittal Institute of Management, New Delhi, India
Abstract: Although entrepreneurship as an area of research has attracted a great deal of scholarly attention in recent decades, most of the available studies relate to the entrepreneurial endeavors of men.. Though the glass ceiling for corporate women has been widely documented, the negligible presence of firms owned by women entrepreneurs in the large firm bracket suggests that there may be an iron ceiling in operation for women business owners... This paper, based on a pilot study centered on the problems and challenges faced by women entrepreneur in the era of globalization and how a women can overcome it. .Also about various steps taken by government in order to promote women entrepreneurs Few case study is also been included in the paper in order to motivate the women especially planning to be an entrepreneur. The research is descriptive and exploratory A study of life history of leading women entrepreneurs in India is been examined and analyzed so that the information regarding their problems and challenges can be collected. The study is totally based on the secondary data collected from various sources. The study will have an important implication in development programmers and public policies. Also it throws light on the grey areas of a successful women entrepreneur which will ultimately help in providing better platform and horizon to women entrepreneurs. All business owners face certain challenges, but women, because of their gender, often have additional challenges and obstacles that their male peers are less likely to encounter. Working women who have children experience even more demands on time, energy and resources. But this does not mean women are less successful than men, in fact, statistics show that women are starting businesses at more than twice the rate of male-majorityowned businesses. The growing success rate of women entrepreneurs shows that they are resourceful, and able to succeed, despite the odds. After a decade of independence still Indian women are not treated as par with man. Also the government sponsored development activities have benefited only a small section of women. The large majority of them are still unaffected by change and development activities have benefited only a small section of women i.e. the urban middle class women. The reasons have been discussed in the paper. It is hoped that the suggestions forwarded in the article will help the entrepreneurs in particular and policy-planners. Keywords: Globalization, women entrepreneurs, Problems & Challenges, Success rate, Case study, Government Measures)
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1. The women Entrepreneurs: an Introduction Women Entrepreneurs may be defined as the women or a group of women who initiate, organize and operate a business enterprise. Government of India has defined women entrepreneurs as an enterprise owned and controlled by a women having a minimum financial interest of 51% of the capital and giving at least 51% of employment generated in the enterprise to women. Like a male entrepreneurs a women entrepreneur has many functions. They should explore the prospects of starting new enterprise; undertake risks, introduction of new innovations, coordination administration and control of business and providing effective leadership in all aspects of business. During the last two decades, Indian women have entered the field of entrepreneurship in greatly increasing numbers. With the emergence and growth of their businesses, they have contributed to the global economy and to their surrounding communities. The routes women have followed to take leadership roles in business are varied. Yet, most women business owners have overcome or worked to avoid obstacles and challenges in creating their businesses. The presence of women in the workplace driving small and entrepreneurial organizations creates a tremendous impact on employment and business environments. Indian women business owners are changing the face of businesses of today, both literally and figuratively. The dynamic growth and expansion of women-owned businesses is one of the defining trends of the past decade, and all indications are that it will continue unabated. For more than a decade, the numbers of women-owned businesses have grown at one-and-a-half to two times the rate of all businesses. Even more important, the expansion in revenues and employment has far exceeded the growth in numbers.
2. Push-Pull Factors And Women In Business: Women in business are a recent phenomenon in India. By and large they had confide themselves to petty business and tiny cottage industries. Women entrepreneurs engaged in business due to push and pull factors which encourage women to have an independent occupation and stands on their own legs. A sense towards independent decision-making on their life and career is the motivational factor behind this urge. Saddled with household chores and domestic responsibilities women want to get independence. Under the influence of these factors the women entrepreneurs choose a profession as a challenge and as an urge to do some thing new. Such situation is described as pull factors. While in push factors women engaged in business activities due to family compulsion and the responsibility is thrust upon them.
International Journal of Innovative Research and Studies
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3. The Profile of Some Famous Women Entrepreneurs and Their Enterprises in India: Indra Nooyi- 4th position- Chief Executivedesignates, Pepsi Co. This Madras born woman was a straight A student in her school. Nooyi d id her bachelors from Madras Christian College and MBA from Indian Institute of Management, Calcutta. Nooyi then went to USA and attended Yale University. From Yale, she obtained degree on management. This brilliant corporate woman started her career in Boston Consulting Group and moved on to Motorola and Asea Brown Boveri. She joined Pepsi Co. in 1994. She turned the company into a bold risk taker. In 1998, Pepsi acquired Tropicana. In 1997, Pepsi started its own fast food chain. In 2001, she became President of Pepsi Cola. Wall Street Journal included her name in their top 50 women to watch in 2005. Fortune magazine declared her 11th most powerful women in business. Vidya Manohar Chhabria95th positionChairman, Jumbo Group The wife of late Manohar Rajaram Chhabria, is now leading Jumbo Group, a Dubai based $1.5 billion business conglomerate. She became chairperson of the company after the death of her husband in 2002. She runs the business with the help of her three daughters. She was ranked 38th most powerful women by the Fortune magazine in 2003.
Anu Aga- Chairperson (former) Thermax Group Like Vidya Manohar Chabaria, this woman also became the Chairperson of Thermax Engineering after the death of her husband Rohinton Aga. The companys condition was critical at that time. Its share price dipped to Rs. 36 from Rs. 400. Anu Aga, the then Director of Human Resource, Thermax, was compelled to take charge of the company. In order to make the company profitable, she brought a consultant from abroad and restructured the company. The strategy worked and the company saw profit again. She stepped down from the post of chairperson in 2004. Now, she spends most of her time in social activities. Bombay Management Association awarded her Management Woman Achiever of the Year Award 2002-2003. Kiran Mazumdar-ShawBiocon She is the first female master brewer and the richest woman in India. Her father was a master brewer and he encouraged her to get into this profession. Shaw obtained her Honors degree in Zoology from Bangalore University. Then she went to Ballarat University to study brewery.
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Her first job was in Carlton & United Beverages in 1974, as a trainee brewer. She started her firm Biocon India in 1978 in her garage. When she applied for loan to the banks, she was turned down. At that time, biotechnology was not known in India and she was a female and her company did not have much assets. With her hard work and determination she overcome all these obstacles and turned Biocon into the biggest biopharmaceutical firm in India. Simone TataManaging Director (former) Lakme With her visions, she changed a small unknown cosmetics company, one of the subsidiaries of Tata Oil Mills, into one of the leading cosmetic companies of India. Lakme changed the face of Indian fashion and cosmetics forever. For her success, Simone N. Tata is also known as Cosmetic Czarina of India. Simone joined Lakme in 1961 and became Chairperson in 1982. The company is now sold to Hindustan Liver. Simone is now heading Trent Limited another subsidiary of the Tata Company.
Indu Jain- Chairperson (former) The Times Group Indu Jain has many identities: spiritualist, entrepreneur, humanist, educationalist, great lover of art and culture. She was the Chairman of The Times Group, the biggest and the most powerful media house in India. The company was bought from a British group. Now, her two sons Samir and Vineet are running the company. Among the major products of the company, The Times of India, the largest selling English daily newspaper of the world. In 2000, Jain delivered speech at the Millennium World Peace Summit of Religious and Spiritual Leaders.
Iyoti Naik Business: Shri Mahila Gram Udyog Lijjat Papad Purpose: Empowers women by providing them with employment opportunities.
Anyone who knows anything about India has heard of or tried poppadums--the crackling, savory crisps that accompany main courses. And one brand that has made poppadums or papad an international success is Shri Mahila Gram Udyog. It started when a group of seven women casually got together one afternoon in 1959 to roll out papads on the terrace of a south Bombay house. They were quick to notice the potential of what they had begun, and production started under the name Lijjat Papad. Company President Jyoti Naik has led the women's cooperative to become one of India's most successful business ventures. Shri Mahila Gram Udyog has diversified into bakery products, detergents, spices and flour. It has built an
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image as one of trusted homemade products of the finest quality at very reasonable prices. The company now has 62 authorized branches across the country and, with only women members, is being seen as the best village industry institution in India.
Shahnaz Husain Purpose: Ayurvedic herbal care and cure Shahnaz Husain, who started India's first professional herbal salon in the balcony of her house in Delhi in 1971, now reigns over an Ayurvedic beauty care empire. Husain, who has worked with eminent names such as Helena Rubinstein, Christine Valmy, Swarzkopf and Lancome, realized early on how much damage chemical cosmetics can cause. Her customized beauty care based on the concept of "herbal care and cure" found instant appreciation, and the enterprise grew.
4. Challenges Faced By Women Entrepreneur: Women 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. Women 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 contributing values in both family and social life. With the advent of media, women are aware of their own traits, rights and also the work situations.. 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 prominent in the business world. But the Indian women entrepreneurs are facing some major challenges 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.
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b. Socio-Cultural Barriers Womens family and personal obligations are sometimes a great barrier for succeeding 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 competition 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 behavior towards the business society by shouldering the social responsibilities. Other factors are family support, Government policies, financial assistance from public and private 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 develop a good business network. f. Awareness About The Financial Assistance 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 rural 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, based on duration, skill and the purpose of the training program. Such programs are really useful to new, rural and young entrepreneurs who want to set up a small and medium scale unit on their own.
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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 mankind or business volunteers.
5. Problems of Women Entrepreneurs in India: Women in India are faced many problems to get ahead their life in business. A few problems can be detailed as; i. The greatest deterrent to women entrepreneurs is that they are women. A kind of patriarchal male dominant social order is the building block to them in their way towards business success. Male members think it a big risk financing the ventures run by women. ii. The financial institutions are skeptical about the entrepreneurial abilities of women. The bankers consider women loonies as higher risk than men loonies. The bankers put unrealistic and unreasonable securities to get loan to women entrepreneurs. According to a report by the United Nations Industrial Development Organization (UNIDO), "despite evidence that womans loan repayment rates are higher than men's, women still face more difficulties in obtaining credit," often due to discriminatory attitudes of banks and informal lending groups (UNIDO, 1995b). iii. Entrepreneurs usually require financial assistance of some kind to launch their ventures - be it a formal bank loan or money from a savings account. Women in developing nations have little access to funds, due to the fact that they are concentrated in poor rural communities with few opportunities to borrow money (Starcher, 1996; UNIDO, 1995a). The women entrepreneurs are suffering from inadequate financial resources 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. iv. Women's family obligations also bar them from becoming successful entrepreneurs in both developed and developing nations. "Having primary responsibility for children, home and older dependent family members, few women can devote all their time and energies to their business" (Starcher, 1996, p. 8). The financial institutions discourage women entrepreneurs on the belief that they can at any time leave their business and
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become housewives again. The result is that they are forced to rely on their own savings, and loan from relatives and family friends. v. Indian women give more emphasis to family ties and relationships. Married women have to make a fine balance between business and home. More over the business success is depends on the support the family members extended to women in the business process and management. The interest of the family members is a determinant factor in the realization of women folk business aspirations. vi. Women entrepreneurs have low-level management skills. They have to depend on office staffs and intermediaries, to get things done, especially, the marketing and sales side of business. Here there is more probability for business fallacies like the intermediaries take major part of the surplus or profit. Marketing means mobility and confidence in dealing with the external world, both of which women have been discouraged from developing by social conditioning. Even when they are otherwise in control of an enterprise, they often depend on males of the family in this area. vii. The male - female competition is another factor, which develop hurdles to women entrepreneurs in the business management process. Despite the fact that women entrepreneurs are good in keeping their service prompt and delivery in time, due to lack of organizational skills compared to male entrepreneurs women have to face constraints from competition. The confidence to travel across day and night and even different regions and states are less found in women compared to male entrepreneurs. This shows the low level freedom of expression and freedom of mobility of the women entrepreneurs. viii. Knowledge of alternative source of raw materials availability and high negotiation skills are the basic requirement to run a business. Getting the raw materials from different souse with discount prices is the factor that determines the profit margin. Lack of knowledge of availability of the raw materials and low-level negotiation and bargaining skills are the factors, which affect women entrepreneur's business adventures. ix. Knowledge of latest technological changes, know how, and education level of the person are significant factor that affect business. The literacy rate of women in India is found at low level compared to male population. Many women in developing nations lack the education needed to spur successful entrepreneurship. They are ignorant of new technologies or unskilled in their use, and often unable to do research and gain the necessary training (UNIDO, 1995b, p.1). Although great advances are
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being made in technology, many women's illiteracy, structural difficulties, and lack of access to technical training prevent the technology from being beneficial or even available to females ("Women Entrepreneurs in Poorest Countries," 2001). x. 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 selfreliance to the women folk to engage in business, which is continuous risk taking and strategic cession making profession. Investing money, maintaining the operations and ploughing back money for surplus generation requires high risk taking attitude, courage and confidence. Though the risk tolerance ability of the women folk in dayto-day life is high compared to male members, while in business it is found opposite to that. xi. Achievement motivation of the women folk found less compared to male members. The low level of education and confidence leads to low level achievement and advancement motivation among women folk to engage in business operations and running a business concern. xii. Finally high production cost of some business operations adversely affects the development of women entrepreneurs. The installation of new machineries during expansion of the productive capacity and like similar factors dissuades the women entrepreneurs from venturing into new areas.
6. How Women Can Overcome Business Challenges: Women often have life skills and natural abilities that are useful in businesses. Women tend to be great net workers, have inherent skills for negotiating, and the ability to multi-task. Single mothers are often good at delegating and budgeting; skills that they rely on to manage their families. Specific strategies to help women entrepreneurs succeed include: Consider satisfying as women owned business Understand the power of internet Learn new ways to balance work and life Get inspiration and advice from other women succeeding in business Create a strong Network
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7. How to Develop Women Entrepreneurs: Right efforts on from all areas are required in the development of women entrepreneurs and their greater participation in the entrepreneurial activities. Following efforts can be taken into account for effective development of women entrepreneurs. i. Consider women as specific target group for all developmental programs. ii. Better educational facilities and schemes should be extended to women folk from government part. iii. Adequate training program on management skills to be provided to women community. iv. Encourage women's participation in decision-making. v. Vocational training to be extended to women community that enables them to understand the production process and production management. vi. Skill development to be done in women's polytechnics and industrial training institutes. Skills are put to work in training-cum-production workshops. vii. Training on professional competence and leadership skill to be extended to women entrepreneurs. viii. Training and counseling on a large scale of existing women entrepreneurs to remove psychological causes like lack of self-confidence and fear of success. ix. Counseling through the aid of committed NGOs, psychologists, managerial experts and technical personnel should be provided to existing and emerging women entrepreneurs. x. Continuous monitoring and improvement of training programs. xi. Activities in which women are trained should focus on their marketability and profitability. xii. Making provision of marketing and sales assistance from government part. xiii. To encourage more passive women entrepreneurs the Women training program should be organized that taught to recognize her own psychological needs and express them. xiv. State finance corporations and financing institutions should permit by statute to extend purely trade related finance to women entrepreneurs. xv. Women's development corporations have to gain access to open-ended financing. xvi. The financial institutions should provide more working capital assistance both for small scale venture and large scale ventures.
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xvii. Making provision of micro credit system and enterprise credit system to the women entrepreneurs at local level. xviii. Repeated gender sensitization program should be held to train financiers to treat women with dignity and respect as persons in their own right. xix. Infrastructure, in the form of industrial plots and sheds, to set up industries is to be provided by state run agencies. xx. Industrial estates could also provide marketing outlets for the display and sale of products made by women. xxi. A Women Entrepreneur's Guidance Cell set up to handle the various problems of women entrepreneurs all over the state. xxii. District Industries Centers and Single Window Agencies should make use of assisting women in their trade and business guidance. xxiii. Program for encouraging entrepreneurship among women are to be extended at local level. xxiv. Training in entrepreneurial attitudes should start at the high school level through well-designed courses, which build confidence through behavioral games. xxv. More governmental schemes to motivate women entrepreneurs to engage in small scale and large-scale business ventures.
8. Government Policies For Women Entrepreneurship In India: The growth and development of women entrepreneurs required to be accelerated because entrepreneurial development is not possible without the participation of women.
Therefore, a congenial environment is needed to be created to enable women to participate actively in the entrepreneurial activities. There is a need of Government, non-Government, promotional and regulatory agencies to come forward and play the supportive role in promoting the women entrepreneur in India.
The Government of India has also formulated various training and development cum employment generations programs for the women to start their ventures. These programmes are as follows: 8.1 Steps Taken In Seventh Five-Year Plan: In the seventh five-year plan, a special chapter on the Integration of women in development was introduced by Government with following suggestion:
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i.
Specific Target Group: It was suggested to treat women as a specific target groups in all major development programs of the country.
ii.
Arranging Training Facilities: It is also suggested in the chapter to devise and diversify vocational training facilities for women to suit their changing needs and skills.
iii.
Developing New Equipments: Efforts should be made to increase their efficiency and productivity through appropriate technologies, equipments and practices.
iv.
Marketing Assistance: It was suggested to provide the required assistance for marketing the products produced by women entrepreneurs.
v.
Decision-Making Process: It was also suggested to involve the women in decision-making process.
8.2 Steps Taken By Government During Eight Five-Year Plan: The Government of India devised special programs to increases employment and incomegenerating activities for women in rural areas. The following plans are lunched during the Eight-Five Year Plan: i. Prime Minister Rojgar Yojana and EDPs were introduced to develop entrepreneurial qualities among rural women. ii. Women in agriculture scheme was introduced to train women farmers having small and marginal holdings in agriculture and allied activities. iii. To generate more employment opportunities for women KVIC took special measures in remote areas. iv. Women co-operatives schemes were formed to help women in agro-based industries like dairy farming, poultry, animal husbandry, horticulture etc. with full financial support from the Government. v. Several other schemes like integrated Rural Development Programs (IRDP), Training of Rural youth for Self employment (TRYSEM) etc. were started to alleviated poverty.30-40% reservation is provided to women under these schemes.
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8.3 Steps taken by Government during Ninth Five-Year Plan: Economic development and growth is not achieved fully without the development of women entrepreneurs. The Government of India has introduced the following schemes for promoting women entrepreneurship because the future of small scale industries depends upon the women-entrepreneurs: i. Trade Related Entrepreneurship Assistance and Development (TREAD) scheme was lunched by Ministry of Small Industries to develop women entrepreneurs in rural, semi-urban and urban areas by developing entrepreneurial qualities. ii. Women Comkp0onent Plant, a special strategy adop0ted by Government to provide assistance to women entrepreneurs. iii. Swarna Jayanti Gram Swarozgar Yojana and Swaran Jayanti Sekhari Rozgar Yojana were introduced by government to provide reservations for women and encouraging them to start their ventures. iv. New schemes named Women Development Corporations were introduced by government to help women entrepreneurs in arranging credit and marketing facilities. v. State Industrial and Development Bank of India (SIDBI) has introduced following schemes to assist the women entrepreneurs. These schemes are: a. Mahila Udyam Nidhi b. Micro Cordite Scheme for Women c. Mahila Vikas Nidhi d. Women Entrepreneurial Development Programmes e. Marketing Development Fund for Women
8.4 Consortium Of Women Entrepreneurs Of India Provides A Platform To Assist The Women Entrepreneurs To Develop New, Creative And Innovative Techniques Of Production, Finance And Marketing: There are different bodies such as NGOs, voluntary organizations, Self-help groups, institutions and individual enterprises from rural and urban areas which collectively help the women entrepreneurs in their activities.
8.5 Training Programmes:
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The following training schemes specially for the self employment of women are introduced by government: i. ii. iii. iv. v. vi. Support for Training and Employment Programme of Women (STEP). Development of Women and Children in Rural Areas (DWCRA). Small Industry Service Institutes (SISIs) State Financial Corporations National Small Industries Corporations District Industrial Centres (DICs)
8.6 Mahila Vikas Nidhi: SIDBI has developed this fund for the entrepreneurial development of women especially in rural areas. Under Mahila Vikas Nidhi grants loan to women are given to start their venture in the field like spinning, weaving, knitting, embroidery products, block printing, handlooms handicrafts, bamboo products etc.
8.7 Rashtriya Mahila Kosh: In 1993, Rashtriya Mahila Kosh was set up to grant micro credit to pore women at reasonable rates of interest with very low transaction costs and simple procedures.
8.8 Women Entrepreneur Associations The efforts of government and its different agencies are supplemented by NGOs and associations that are playing an equally important role in facilitating women empowerment. List of various women associations in India is provided in the table below.
8.8.1 Details Of Women Entrepreneur Associations In India S.no . 1 2 3
Association Name Federation of Indian Women Entrepreneurs (FIWE) Consortium of Women Entrepreneurs(CWEI) Association of Lady Entrepreneurs of Andhra Pradesh
Website
http://www.fiwe.org/ http://www.cwei.org/ http://www.aleap.org/index.html

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4 5 6
Association of Women Entrepreneurs of Karnataka (AWAKE) Self-Employed Women's Association (SEWA) Women Entrepreneurs Promotion Association (WEPA) The Marketing Organisation of Women Enterprises (MOOWES) Bihar Mahila Udyog SanghBihar Mahila Udyog Sangh Mahakaushal Association of Woman Entrepreneurs (MAWE) SAARC Chamber Women Entrepreneurship Council Women Entrepreneurs Association of Tamil Nadu (WEAT) TiE Stree Shakti (TSS) Women Empowerment Corporation
http://awakeindia.org.in/ http://www.sewa.org/ Click here for Profile
Click here for Profile http://www.biharmahilaudyogsan gh.com/ http://www.maweindia.com/ http://www.scwec.com/index.ht m Click here for Profile http://www.tiestreeshakti.org/ http://www.wecindia.org
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9. The Essential Entrepreneurial Functions Of A Women Entrepreneur: To be an entrepreneur is not that easy. A successfu8l entrepreneur must be a person with technical competence, initiative, good judgment, intelligence, leadership qualities, selfconfidence, energy, attitude, creativity, fairness, honesty, tactfulness and emotional stability. The followings are the important characteristics of an entrepreneur.
9.1 Calculated Risk-Taker: The entrepreneur has the ability to take calculated risks. He has to take risk to achieve predetermined business objective. A risk situation involves potential gain or loss. The greater is the risk involved, the greater is the chances of loss. He avoids low-risk involved; the grater is the chances of loss.
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He avoids low-risk situation due to lack of challenge and avoids high-risk situation because he wants to succeed. He likes achievable challenges. Thus, entrepreneurs are risk -bearing agents of production.
9.2 Innovation: The entrepreneur has to play the crucial role of innovator. Innovation ability involves doing things in a new and better way. Innovation may take several forms e.g. i) Develop0ment of new products ii) Adoption of new methods of production iii) The creation of a new market iv) The conquest of a new source of raw-material v) New form of organization of industry. Therefore, an entrepreneur conceives new ideas and puts them into effect in the process of economic growth and development. 9.3 Organization Skill: An entrepreneur has the capacity of combining together all resources required for starting up an enterprise and then to produce goods. The entrepreneur combines the land. Labor and capital to produce a product. By selling the product in the market, he pays interest on capital, rent on land and wages to laborers and what remains left is his/her profit. Being a good organizer, an entrepreneur is energetic, resourceful, alert to new opportunities and able to adjust according to changing conditions. He determines the line of business, expansion and growth of enterprise. As an organizer, he performs planning, co-ordination and control functions. 9.4 Technical Knowledge:
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Technical knowledge refers to the minute details of the process and technology of manufacture and marketing of goods and services, which acquired through interest and hard work. A successful entrepreneur always keeps himself abreast of the latest changes in the technology so as to be a head of others in the competitive environment. 9.5 Optimistic: Entrepreneurs look at the brighter side of the situation and intermittent problems do not distract their attention from accomplishment of their goals. They believe that future will be favorable and they will be able to clean all the hurdles on their way towards a bright future. 9.6 Effective Communication Ability: The job of entrepreneur involves dealing with people to get his objective accomplished. Communication is the nervous system of any organization and the entrepreneur as an effective communicator analyses peoples mind, talks in their languages so as to make the message clear and understandable and gets them to contribute as per plan. 9.7 Decision Making: Decision making requires selection from amount alternatives and entrepreneurs with their analytical ability evaluate the alternatives and come out with the best decision in a given situation. 9.8 Creativity: Entrepreneur should be creative. Creativity is the ability to devise and successfully implement something new and better. Successful innovations depend upon creativity. Creativity involves innovation or introduction of new product, new method of productions, new form of business, different ways of dealing with problems etc. 9.9 Self-Confident:
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An entrepreneur must have self-confident. Entrepreneurs must have belief in themselves and the ability to achieve their goals. If entrepreneur should have faith in himself then only then he can trust others. 9.10 Human Relation Ability: An entrepreneur must to be maintained good relation with his customers to get their loyalty. He must maintain good relations with his employees to motivate them to perform their jobs at a high level of efficiency. An entrepreneur who has the ability to maintain good human relation with customers, employees, suppliers, creditors and the community is in the position to run his enterprise successfully. 9.11 Business Secrecy: A successful entrepreneur must be able to guard his business secrets from the leakage to trade competitors. 9.12 Clear Objectives: Objectives guide the effort and action. A successful entrepreneur should have a clear objective about the nature of his business, the nature and type of goods to be produced etc. so as to provide purposeful direction. An entrepreneur may have the objective to establish the product, to make profit or to provide social service. 9.13 Mental Ability: The mental ability. It consists of intelligence and creative thinking to deal with different situations. An entrepreneur must be reasonably intelligent. Must be able to study different business problems and situations in order to deal with them. The entrepreneur should be able to anticipate the business them in profit able business opportunities. 9.14 Visionary:
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An entrepreneur must be a visionary. Entrepreneurs have a vision for further growth and development, commitment to constructive change and energy to achieve results. An entrepreneur is the one who can create new ideas, starts his enterprise with these ideas and provides added value to society based on their independent initiative. 9.15 Desire for High Achievement: The entrepreneurs have a strong desire to achieve high goals in business. 9.16 Hard Worker: Hard work is the key to the success and there is no substitute for hard work for an entrepreneur. Entrepreneurs work hard consistently and persistently towards the never-ending goal of excellence. 9.17 Socially Responsible: An entrepreneur must be socially conscious. His entrepreneurial ability may create jobs for others. He may invent new products and new manufacturing methods by doing things in never ways. All these have social consequences. He should refrain from illegal and social irrespective activities. 9.18 Courage to face Adversities: Entrepreneur must have the ability and courage to face the adversities boldly and bravely. Entrepreneur must have the faith in himself and attempt to solve the problems even under pressure. 9.19 Ability to Exploit Opportunities: An entrepreneur must be able to exploit new business opportunities to earn maximum profit in coming future. 9.20 Independence:
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Entrepreneurs develop their own path rather than treading into others footsteps. 9.21 Foresight: The entrepreneurs have a good foresight to know about future business environment. They well visualize the likely changes to take place in market, consumer attitude, technologica 10. The Unexplored Talent Of Young Women: Highly educated, technically sound and professionally qualified 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 Tourism industry Telecommunication Plastic materials Vermiculture Mineral water Sericulture Floriculture Herbal & health care Food, fruits & vegetable processing 11. The Women Who Makes The Difference: Leadership, cannot be said to be synonymous with politics. Leaders can exist in any sphere, in any capacity, and are defined by their ability to inspire and motivate others to achieve great heights.
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Thus when we talk of women leaders in India, along with naming those who have created their own space in the political scenario, it is imperative to acknowledge those women, who have set up their own endeavours to benefit society at large There are many such women, who have led, established and sustained successful social organizations. One leading example is Dr Shyama Chona, who founded an NGO Tamana, which aims to promote a better life for the mentally challenged and autistic people. She also initiated the start of the Anubhav Shiksha Kendra, which brings quality education to disadvantaged children through afternoon schools. Both these organizations are highly successful and have benefited many through their work. Then there is Dr Shelly Batra, who has been working to provide free medical treatment to slum dwellers since 1991, which eventually led to the creation of the founder of Operation Asha. The organization provides tuberculosis treatment and education services in 1412 slums spread over six states. Nikita Ketkar, left a high profile job with the civil services, to start Masoom, an organization which aims to improve the quality of night schools. Dr Amita Vyas founded the Global India Fund, a non-profit organization committed to inspiring global philanthropy by providing secure and transparent giving options to individual and corporate donors. Dr Ranjana Kumari, is the Director of Centre for Social Research in Delhi, which is one of the most influential and leading institutions working in the field of informed social action and action-oriented research, with a focus on gender issues. 12. Few Case Studies- No.1: 12.1 Vishuddi: Pure Form of Success: Lata Manohars boutique Vishuddhisituated in Anna Nagar, Chennai is truly unique. It does not flaunt arrays of salwars and ready made suits in racks. What strikes one on entering Vishuddhi is its simplicity, charm and warmth of Lata. Lata had always wanted to be an entrepreneur and she was motivated to go into business on her fathers support and encouragement. At 17 years of age, she enrolled for a course in dyeing, printing and block printing with The Weavers Service Centre in Chennai. She created a few samples of her own and contacted the export firm Hamosons, way back in 1982. Mr. Dinakaran of Hamosons was impressed by her work and he in turn contacted his boss in Swede
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n. She was duly impressed and insisted on meeting Lata in person. On meeting her, Lata was asked to create a sample of her designs in five meters. She truly gave it her best shot and the export firm was truly impressed and fascinated by her work. They ended up placing a huge order with her. Lata teamed up with a friend of hers and executed the order successfully. Their best efforts were rewarded amply when they received a cheque for Rs 16000, which was indeed a tidy sum of money in the 80s.Elated and inspired beyond measure, they decided to start a unit of their own, with this tidy sum as investment. Lata set up her own printing and manufacturing unit and designed her own salwar suits. In 1986, Lata got married and she had to take a year off from work. The next year saw her venturing out again with the manufacture of designer salwar suits, which were marketed exclusively to the wholesale market. Kerala was my main market. I concentrated on Kottayam, and Ernakulam. I conducted exhibition cum sales all over the state. People used to flock to buy my designer suits which were sold under the brand name Shree says a proud Lata. By 1987, Lata was billing close to one lakh per month from her sale of designer suits. In 1994, she ventured into exports. I used to do job work for a company where I used to design a lot for the European market. W e used to do hand printing, embroideries by machine and hand. From 1998-2004, we did extremely well. Some of my designs were used in the Armani collection and were featured on FTV, Lata reminisced with pride. It was Latas unique idea to paint the corners of silk material with lac, wherein they get sealed; stones are then embroidered on to them. With these experiences to aid her, Lata set up Vishuddhi.Here, fabrics are designed and sold, customised tailoring undertaken, hand and machine embroidery done and sarees designed. Block printing orders too are undertaken. For a short stint, I have worked with the Indo German Chamber of Commerce. Mr. Claire was impressed with my enthusiasm and it was a dream of mine to be able to contribute towards buying of our own home and I did it! I was able to pitch in with my own 20 lakh for our dream home smiles an elated Lata.
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She agrees that her work, though slightly on the expensive side, does not compromise on quality. At Vishuddhi, materials are stacked tastefully on shelves that are artistically designed. Lata weaves her own magic out of these, particularly suited to each client. Some of her creations are truly awe inspiring. A simple Kerala sari was magically and beautifully transformed into a designer ware. Give her two different pieces of material and Lata, with her innate creative spark, designs a designs a beautiful sari out of it. She uses her own add-ons and embroidery to embellish and beautify her materials. Lata has her own stitching unit with five tailors to help her out. She is adept and proficient at designing Western attire and her clientele is spread out over both India and abroad. We enjoy redesigning saris, ghagras, and exclusive wedding saris smiles Lata prettily. Ladies are welcome to bring in their old silk saris and we rework on them to make them exclusive designer wear; you would never recognize your old sari - assures Lata. We are duly impressed, Lata is creativity and vitality personified.
12.2 Case Study-2: Story Of Sarala Bastian Who Set Up A Successful Mushroom Business With Just Rs 15000, To Read The Story: At 17, when most girls of her age were set to go to college for higher studies, she got married But Sarala Bastian did not wish to just be confined to her house. She wanted to do something on her own. She wanted to be independent and carve out an identify for herself. "My father gave me the initial capital of Rs 15,000 to start a business in 2004. I started a mushroom farm in my backyard," says Sarala. There has been no looking back since. . . Today, she is a successful entrepreneur in a field not explored by many. It has been an incredible journey for the 32-year-old Sarala. To add to her glory, she has been shortlisted for the prestigious Youth Business International (YBI) Entrepreneur of the Year award for 2009. YBI is a UK-based network established by Prince Charles to encourage young entrepreneurs. Ghada Ba-ageel of Saudi Arabia and Linet Indiazi of Kenya are the other two nominees in the female category for this year's award. The award, to be announced on November 16, will comprise a cash prize of $1,000, a certificate and a medal.
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Here's how Sarala transformed herself from a simple housewife into a successful entrepreneur with minimum resources at her disposal. Read on. The beginning years -I spend my childhood in Coimbatore where my father worked as an auditor in the state co-operative society. In school, I also learnt typewriting and shorthand. I was married to Sebastian after I passed my class 12 exams. He worked with the ICF (Integral Coach Factory). I came to Chennai with him. I have two daughters, elder one is 14-years old. My seven year old younger daughter is mentally challenged. When she was a baby, she had brain fever and life changed for the worst. She is my life, and I am willing to spend all my money to make her all right. Becoming An Entrepreneur: I never faced any financial difficulty and I was happy with what my husband earned. But it was my dream to start something on my own, be independent and offer jobs to other needy women. I strongly believe that women should not be dependent on men and remain mere 'doormats'. Every woman should come forward and create an identity for herself. That is why 95 per cent of my employees are women. My dream is to make all women financially independent. The idea to cultivate mushrooms came to my mind as I felt it was a very 'nutritious' business and had not been attempted by many. Funds To Start The Business: I got a lot of support from my father. My mother helps me now by taking care of my house and my children. Without my mother's support and my husband's cooperation, I would not have achieved anything. My father gave me the initial capital of Rs 15,000 to start the business in 2004. I started a mushroom farm in my backyard. Before starting mushroom farming, I attended training classes at eleven different places, including the agricultural college in Coimbatore. I continued with my training because I was never satisfied with the knowledge I got from each place. I had so many doubts, I did not get proper answers anywhere. Finally, I learnt many things from my own experience. The art of cultivating mushrooms It was very difficult to get seeds in those days. I bought one seed for Rs 60 and got started. I employed two ladies to help me out in the farm. We keep the seeds in a perforated plastic cylinder between layers of cleansed hay. Within 17 days, mushrooms start
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coming out of the holes in the cylinder. From one cylinder, we get about 2 kg of mushrooms.
Initial Struggles: There was a time when I used to go to the supermarkets and beg them to keep my mushrooms in their shops. They used to reluctantly agree after a lot of persuasion. Today, early in the morning, they call me and ask me, 'Madam, how many packets would you send today?' It takes time for any business to flourish, but ultimately you succeed. Within three months of starting my business, I made a profit of Rs 65,000. Whatever profit I have made so far, I have put back into the business. More than making money, my aim is to expand the business. Besides fresh milky and oyster mushrooms, I also sell processed foods like pickles, soup powder, jam, et cetera. I make a turnover of around Rs 250,000 every month these days. Now, my aim is to inspire more women. So, I meet many self-help groups and ask them to do something worthwhile. Working With Jail Inmates: Some college students from Oorambakkam (near Chennai) wanted me to teach them mushroom cultivation for a project. Later, I found that the students had adopted a village and they wanted me to teach the villagers too. I decided to teach them free of cost. I went there on my own and taught the villagers. When these college students were planning to train jail inmates, I went to meet the female inmates of Puzhal prison in Chennai. Initially, I was a bit scared but I spoke to them from my heart and asked them whether they would do the work. All of them said they would. I asked them, 'Why did you commit crimes?' They told me it is because they didn't have money. I asked why didn't they do some work on their own, like I do. I made them promise that they would start a new life, work hard after they come out. Only after they promised, I agreed to teach them how to cultivate mushrooms. The process is really simple, anyone can do it. You don't have to be educated but you have to be hard working. I plan to give them regular work, and I have applied for that. Hereafter they will cultivate mushrooms for me. I plan to speak to the men and boys' section also about this new business.
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International Award: It was the Bharatiya Yuva Sakthi Trust that has been helping me a lot with business advise from the time I started my enterprise. They recommended my name to the Youth Business International (YBI) Entrepreneur of the Year award for 2009. They had sent around 50 names from India. I am the only Indian shortlisted from the thousands of names they got from all over the world. I do not know how to express my happiness. I am the only woman among the final list of three candidates. Advice to Entrepreneurs: My advice to all those budding entrepreneurs is: dream big, have the self confidence and the courage to face, both, success and failure. No business will flourish without setbacks. So, be ready to face such situations. When my shed collapsed on top of hundreds of mushroom beds, I lost Rs 7 lakh (Rs 700,000). Although I had insured my shed, the man who came to make the report asked for a commission to write a report in my favour. I refused to pay any bribe. Why should I pay any bribe when I was right? So he wrote against me and I did not get money from the insurance company. Though I was badly affected, I did not abandon my business. Instead I started all over again with a vengeance. I don't have a business role model in life; I want to be one myself. I want to do what no woman has done so far, and I want to achieve what no woman has achieved so far. 13. Conclusion: Empowering women entrepreneurs 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 certainly 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
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Independence brought promise of equality of opportunity in all sphere to the Indian women and laws guaranteeing for their equal rights of participation in political process and equal opportunities and rights in education and employment were enacted. But unfortunately, the government sponsored development activities have benefited only a small section of women. The large majority of them are still unaffected by change and development activities have benefited only a small section of women i.e. the urban middle class women. The large majority of them are still unaffected by change and development. The reasons are well sighted in the discussion part of this article. It is hoped that the suggestions forwarded in the article will help the entrepreneurs in particular and policy-planners in general to look into this problem and develop better schemes, developmental programs and opportunities to the women folk to enter into more entrepreneurial ventures. This article here tries to recollect some of the successful women entrepreneurs like Ekta Kapoor, Creative Director, Balaji Telefilms, Kiran Mazumdar Shaw, CEO, Biocon, Shahnaz Husain and Vimalben M Pawale, Ex President, Sri Mahila Griha Udyog Lijjat Papad (SMGULP).
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1. Jose P., Ajith Kumar. & Paul T.M., (1994) Entrepreneurship Development, Himalaya Publishing. 2. Medha Dubhashi Vinze (1987) Women Entrepreneurs In India: A Socio-Economic Study of Delhi - 1975-76Mittal Publications, New Delhi. 3. Renuka V. (2001) Opportunities and challenges for women in business, India Together, Online Report, Civil Society Information Exchange Pvt. Ltd. 4. Starcher, D. C. (1996). Women entrepreneurs: Catalysts for transformation. Retrieved July 6, 2001: http:// www.ebbf.org/woman.htm10 (c2001269511) 5. "The female poverty trap." (2001, May 8). The Economist. Retrieved March 14, 2001: http://www.economist.com12 (c2001202213) 6. S.K.Dhameja-(2002)-Business Performance & Problems. 7. United Nations Industrial Development Organization (UNIDO). (1995a). "Women, industry and entrepreneurship." Women in Industry Series. Vienna, Austria: author. Retrieved July 6, 20001: http://www.unido.org/doc/150401.htmls15 (c2001266816) 8. United Nations Industrial Development Organization (UNIDO). (1995b). "Women, industry and technology." Women in Industry Series. Vienna, Austria: author. Retrieved July 6, 2001: http://www.unido.org/doc/150401.htmls15 (c2001266618). 9. Women entrepreneurs in poorest countries face formidable challenges, including lack of training, credit, say speakers at Brussels forum" [Press release]. (2001, May 21). Retrieved July 6, 2001:http://www.un.org/News/Press/docs/2001/dev2331.doc.html19 10. http://www.celcee.edu 11. http://www.publishyourarticles.net/eng/articles/step-taken-by-government-to-developwomen-entrepreneurs-in-india.html 12. http://smallb.in/%20/fund-your-business%20/additional-benefits-msmes%20/womenentrepreneurship 13. http://www.publishyourarticles.net 14. http://www.smallenterpriseindia.com/index.php?option=com_content&view=article& id=298:vishuddi-pure-form-of-success&catid=78:success-stories&Itemid=156 15. http://thehatch.in/women-entrepreneurship-in-india/ 16. http://books.google.co.in/books?id=JKNuedQ4n1EC women-Women entrepreneursOpportunities,
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Challenges Faced by Women Entrepreneurs in the Era of Globalization ISSN 2319-9725

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8.5 Training Programmes:

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8.8.1 Details Of Women Entrepreneur Associations In India S.no . 1 2 3

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International Journal of Innovative Research and Studies

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