CHAPTER-1

INTRODUCTION

Entrepreneurship Meaning:-The origin of the basic word “Entrepreneurship” is from a

French word “Entreprendre”, where it cradled and originally meant to designate an

organizer of certain musical or other entertainments. The Oxford English Dictionary (of

1897) defines the term “Entrepreneur “in similar way as the director or a manager of a

public musical institution, one who gets-up entertainment arranged, especially musical

performance. Initially in the early 16th Century, it was applied to those who were engaged

in military expeditions. In17th century. It was extended to cover civil engineering

activities such as construction and fortification. Since then, the term “Entrepreneur” is

used in various ways and various views. These views are broadly classified into three

groups namely:- • Risk-Bearer • Organizer • Innovator Thus, a person who assumes and

bears all types of risks involved in an enterprise, who organizes the various inputs or

factors of production and who innovates news ideas, concepts, strategies and

methodology in business from time to time is known as Entrepreneur. The general

concept of entrepreneurship is also applicable to women entrepreneurs with slight

variations. Women entrepreneurship means the process whereby women take the lead and

organize the business or industry and provide employment to others.

Women Entrepreneurship:- When we speak about the term “Women

Entrepreneurship” we mean, an act of business ownership and business creation that

empowers women economically, increases their economic strength as well as position in

society. Hence women-entrepreneurs have been making a considerable impact in all most

all the segments of the economy which is more than 25% of all kinds of business. In India

“Entrepreneurship” is very limited amongst women especially in the formal sector, which

is less than5% of all the business.

Women Entrepreneurs in India: - Two main streams of thoughts have influenced the

promotion of women entrepreneurship in India by the government as well as by various

other agencies. The first stream is employment centered. It has been argued that

considering their weaker bargaining power in the market as well as society, women

should be given higher priority in various entrepreneurial schemes. The second most

stream of thought relates to the argument for autonomy of women.

Women Entrepreneurship Role in Today’s Society:-The emergence of entrepreneurs

in a society depends to a Great extent on economic, social, religious, cultural and

psychological factors prevailing in the society. In many of the advanced countries of the

world there is a phenomenal increase in the number of self-employed women after the

world war. In U.S women own 25% of all business, even though there sales on an

average are less than 2/5th of those of other small business groups. In Canada, 1/3rd of

small business are owned by women and in France, it is 1/5th. In U.K., since 1980, the

number of self-employed women has increased 3 times as fast as the number of self

employed men. They have made their mark in business for the following reasons

highlighted below:- 1) They want to assume new and fresh challenges and opportunities

for self-fulfillment. 2) They want to prove their personalities in innovative, daring and

competitive jobs. 3) They want to undertake changes to control the balance between their

families responsibly and business obligations.

An entrepreneur is a person who has possession of a new enterprise, venture or idea and

is accountable for the inherent risks and the outcome of a product. The term was

originally a loanword from French and was first defined by the Irish-French economist

Richard Cantillon. Entrepreneur in English is a term applied to a person who is willing to

help launch a new venture or enterprise and accept full responsibility for the outcome.

Jean-Baptiste Say, a French economist, is believed to have coined the word

"entrepreneur" in the 19th century - he defined an entrepreneur as "one who undertakes

an enterprise, especially a contractor, acting as intermediatory between capital and

labour". A broader definition by Say: "The entrepreneur shifts economic resources out of

lower and into higher productivity and greater yield. The question arises why an

entrepreneur (entrepreneur) has a different way of thinking of human beings in general.

They have the motivation, calling, perceptions and emotions are strongly associated with

values, attitudes and behavior as a superior human being. The concept of

entrepreneurship in research and society has been firmly rooted in the realm of

economics and business. This narrow focus excludes a large number of entrepreneurial

acts that occur outside of economic contexts. The discipline of high art music

performance is rich with innovative acts that challenge the boundaries of conventional

practices. However, these acts largely go unnoticed because of the strength of the bond

between entrepreneurship and economics. In this research paper, a literature review will

be used to examine how entrepreneurship can best be conceptualized in the discipline of

high art music performance. Entrepreneurial Risk taking propensity and Performance: A

case study of Owner-Managed companies in the Ghana Club 100. Author: Desmond

Dellor Supervisor: Anders Hederstierna Department: School of Management, Blekinge

Institute of Technology Course: Master’s thesis in Business administration, 15 credits

(ECTS). Background and Problem Discussion: This study seeks to assess how successful

are Owner- Managed Companies in the “Ghana Club100”. The broad question addressed

by this study is whether Owners manage their businesses better or not and also to

examine whether Owner Managers in aggregate exhibit decision biases in their

investment decision making processes taking into account the risk bearing role of

entrepreneurs. Purpose: This research sought to investigate the risk aversion of Ghanaian

entrepreneurs, whether or not they are biased in their investment decision making and to

assess the performance of Owner- managed companies against their counterparts

employed to manage for shareholders. Method: The study employed both conceptual and

empirical approach

Definition

1."Women entrepreneur" is any women who organizes and manages any enterprise, esp. a

business, usually with considerable initiative and risk. However, quite often the term

"women-owned business" is used relative to government contracting. In this instance, the

entrepreneur (a woman) owns (more than 50%), controls and runs the enterprise.

2. An organization like the U.S. Women's Chamber of Commerce can provide details

about "women entrepreneurs" and "women-owned."

3. According to Government of India, a woman entrepreneur is defined as "an enterprise

owned and controlled by a woman and having a minimum financial interest of 51% of the

capital and giving at least 51% of employment generated in the enterprise to women.

4. According to Joseph A Schumpeter women entrepreneurs may be defined as “a women

or group of women who innovate, initiate or adopt a business activity”Women

entrepreneurs may be defined as a women or group of women who initiate, organize and

run a business enterprise. According to Schumpterian concept of innovative

entrepreneurs, women who innovate, initiate or adopt a business activity are defined as

“women Entrepreneurs” Women Entrepreneur is a person who accepts challenge to meet

her personal needs and become economically independent by doing business. 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. In India, empowerment to

women is not properly given, not only for involving into entrepreneurial activities, but

also in day-to-day life. It is also going to give importance to the qualities of the women

which are not fully identified by their self.“Women are not human beings with a

spiritual experience, Women are spiritual beings with a human experience “The

concept of Women Entrepreneurs may be defined as a women or a group of women who

initiate organize and run a business enterprise. Women owned businesses are highly

increasing in the economies of almost all countries. Every successful woman

entrepreneur is truly determined to achieve goals and make her business flourish. In-

depth knowledge of the field is essential to success. A glance at the physiological

variations in the brains of men and women are Female has more nerve cells in certain

areas.

Women transfer data faster and making it easier for increased flexibility and

multitasking.

Men are left-brain oriented and are largely successful in solving numbers and problems.

‘Gray matter’ – the part that allows thinking is 55.4% in women and 50.8% in men.This

reveals that women are endowed with natural advantages that aid in creating, developing

and fostering relationships. She translates her natural advantages into effective

networking, excellent communication skills and empathetic behavior. . A successful

woman entrepreneur has the attitude and the inner drive to change her dream,her vision

into reality.In order to face the problems faced by women entrepreneurs, Government of

India launched the scheme Trade Related Entrepreneurship Assistance and

Development of Women (TREAD) in 1998. The scheme envisages development of

micro and tiny women enterprises in the country both in the urban and rural areas. The

main objective of the scheme is to empower women through development of their

entrepreneurial skills by eliminating constraints faced by them in their sphere of trade. A

revised scheme of TREAD was launched in May, 2004. It is to be implemented by Small

Industries Development Organization. It also provides for market development and

financial loans through NGOs, which are also provided grants for capacity building. This

assistance is to be provided for self-employment ventures by women for pursuing any

kind of non-farm activity.Women Entrepreneurship is both about Women pose in society

and the role of Women Entrepreneurship in the same society. Women are visaged with

specific obstacles (such as family responsibilities) that have to be overcome in order to

give them access to the same opportunities as men. Also, in some countries, women

might experience obstacles with respect to holding property and entering contracts.

Increased participation of women in the have force is a prerequisite for improving the

position of women in society and self-employed women.

List of some famous Women Entrepreneurs

1. HOMAI VYARAWALLA- India first press photographer.

2. Dr. SUMAN SAHAL- Founder of the Gene Camplgn in India.

3. Mrs. MADHURI MATHUR- The women behind Sumeet Mixer Grinder.

4. Dr. INDIRA HINDIYA – India’s first test tube baby doctor.

5. INDIRA NOOYI- CFO and president of PepsiCO.

6. NAINA LAL KIDWAI- Head of investment banking at ANZ Grindlays.

7. KIRAN MAZUMDAR SHAW- She is the one of the richest women in India

studied zoology at Bangalore University and brewery at Ballarat University.

8. INDU JAIN- Chairman of The Times Group.

9. PRIYA PAUL- Priya Paul is armed with a bachelor’s degree specializing in

economics from the Wellesley College in US.

10. SULAJJA FIRODIA MOTWANI- Sulajja Firodia Motwani is the joint managing

director of Kinetic motors and managing director of kinetic finance.

11. SIMONE TATA- Simone Tata is holding the covered title of being the cosmetics

czarina of India.

12. NEELAM DHAWAN- Neelam Dhawn is the managing director of Microsoft

India.

13. EKTA KAPOOR – Ekta Kapoor is the women who single handedly founded and

made Balaji telefilms.

14. MALLIKA SRINIVASAN – Mallika Srinivasan is currently Director of TAFE

India.

1. Homai Vyarawalla – India’s First Woman Press Photographer

She was the first woman press photographer of India. With a very fulfilling career span of

over thirty five years (1938-1973), she published her first pictures in Bombay Chronicle

and was paid one rupee for each. After that, there was no stopping her and her pictures

are still studied by many of the budding photographers who wish to follow her footsteps.

She was the first of the women pioneers of India to enter a male dominated field and be

successful.

2. Dr. Suman Sahai – Founder Of The Gene Campaign in India

She is the founder of the Gene Campaign in India. She is the voice of the millions of

farmers all across the country. Her campaign is currently running in 17 states across the

country. Dr. Sahai is the brains and the brawn behind the patent campaign for

Azadirachta Indica (Neem) and Turmeric (Haldi). She believes that ‘nature’s technology

can meet the needs of humanity’.Her name figures in the list of successful women

pioneers in India because of her single-minded dedication to her cause, which made the

Indian government sit up and take notice of the actual problems faced by Indian farmers.

3. Mrs. Madhuri Mathur – The Woman Behind Sumeet Mixer Grinder

No mention of successful women entrepreneurs in India can be completed by leaving Mrs

Madhuri Mathur’s name out. Along with her husband, she was the idea behind the

famous household brand, Sumeet Mixer Grinder.Before her venture, having a kitchen

helper that could blend, chop, and mince at a touch of a button was just a dream for

millions of Indian women. It was her strenuous efforts, hard work, skills, and labour that

made Sumeet a household name.

4. Dr Indira Hinduja – India’s First Test Tube Baby Doctor

On August 6th 1986, India’s first test tube baby, Harsha, was born. Dr Hinduja’s three

year research in invitro fertilization and embryo transfer made her the first Indian doctor

to produce a test tube baby. Her work has given hope to millions of women across the

country.Other ground breaking techniques in her name are the Gamete Intra Fallopian

Transfer (GIFT) technique (first birth in 1988) and an oocyte donation technique for

menopausal women and premature ovarian failure patients (first birth in 1991).

5. Indra Nooyi

Strong-willed, with an acute acumen for financial strategizing, Nooyi is the CFO and President of

PepsiCo. Her strong acumen for business has helped the company garner as much as 30 billion

dollars worth of crucial deals within the last couple of years. With a Masters Degree in Public

Management from Yale University and Masters in Finance and Marketing from IIM, Kolkata,

Nooyi held several senior positions at Motorola and Asea Brown Boveri before joining PepsiCo.

Indra Nooyi – the most well-known face amongst Indian women entrepreneurs

6. Naina Lal Kidwai

From being Head of Investment Banking at ANZ Grindlays during 1982-1994 to Vice Chairman

JM Morgan Stanley, Naina Lal Kidwai is one of the most successful and famous Indian

businesswomen of today. The first Indian woman to graduate from the elite Harvard Business

School, she is currently Country Head and Group General Manager HSBC Group India. Apart

from working at HSBC, Kidwai has also held other eminent positions such as that of Global

Advisor, Harvard Business School, non-executive director at Nestle SA and as a member of

Governing Board NCAER, Auditor General of India and several other positions. Naina has

received the distinguished Padma Shri award for her contributions in the segment of Trade and

Industry.

Naina Lal Kidwai – one of the most successful Indian women entrepreneurs

7. Kiran Mazumdar Shaw

Kiran Mazumdar Shaw is one of the richest women in India studied zoology at Bangalore

University and brewery at Ballarat University. She started her career as trainee brewer at Carlton

& United Beverages in 1974. Four years later she started her own company, Biocon, in her garage

with an investment of Rs 10000. Three issues –biotechnology was nascent at the time in India, she

was a woman and her organization had almost nil assets – made financial institutions turn down

her loan application. However, with hard work and commitment, Shaw transformed Biocon into

one of the leading biopharmaceutical firms in India.

Kiran Mazumdar Shaw – From humble beginnings to being the richest woman in the country

8. Indu Jain

This multi-faceted lady used to be the Chairman of The Times Group – the most powerful and the

largest media house India has known. Indu Jain is known by many different identities such as that

of a spiritualist, humanist, entrepreneur, an aficionado of culture and the arts, an educationalist but

her most prominent and eminent role has been that of Chairman Times Group.

Indu Jain – the perfect picture of the successful Indian woman entrepreneur

9. Sulajja Firodia Motwani

Sulajja Firodia Motwani, the Joint Managing Director of Kinetic Motors and Managing Director

Kinetic Finance, is responsible for Kinetic’s transformation from a moped company to a

manufacturer of great versatility. Sulajja has single-handedly designed and developed marketing

strategies to spearhead the company’s growth forward. The recent collaboration with Italjet Moto

has provided Kinetic complete rights to launch 7 brand new models of scooters in India. India

Today has honored Sulajja by naming her the ‘Face of the Millennium’ and she has been selected

as the ‘Global Leader of Tomorrow’ by the World Economic Forum.

Sulajja Firodia Motwani – Responsible for single-handedly changing the face of Kinetic as we

know it today

10. Simone Tata

Holding the coveted title of being the ‘cosmetics czarina of India’ Simone Tata has been

instrumental in changing a small subsidiary of Tata Oil Mills into the largest cosmetic brand in

India – Lakme, synonymous today with Indian fashion. She became part of Lakme during 1961

and has been responsible for the metamorphosis of the company into the biggest brands of fashion

in India. She became Chairperson of the company during 1982 and is now the Chairperson of

Trent Limited, a subsidiary of the Tata group.

Simone Tata – the force behind Lakme as we know it today

11. Neel am Dawn

Neel am Dhawan, the Managing Director of Microsoft India and is the head of marketing and

sales operations of the company throughout India. At the start of her career she yearned to be a

part of major players in the FMCG space such as Asian Paints and Hindustan Lever.

Unfortunately, these organizations did not want a woman to be a part of their marketing and sales

efforts and hence she was rejected at the time. Before joining Microsoft, Neelam has been part of

many prominent companies such as IBM, HP as well as HCL.

Neelam Dhawan – from initial rejection in sales and marketing to heading Microsoft’s sales

marketing division, Neelam has come a long way

12. Ekta Kapoor

Love them or hate them, you just cannot ignore Balaji serials and Ekta Kapoor is the woman who

single-handedly founded and made Balaji Telefilms the household name it is today. This baby-

faced teenager, who once dreamed of marrying and settling down just like any other woman in

India, is the creative head of Balaji Telefilms and counted as one of the top 10 women

entrepreneurs of today. Her production house has many hit serials to its credit – ‘Kyunki Saas Bhi

Kabhi Bahu Thi’, ‘Kahani Ghar Ghar Ki’ and many others, making her the Queen Bee of the

Indian soap opera scene. She has won the Hall of Fame award at the 6th Indian Telly Awards

during 2006 for her contribution to the Indian television industry. Known to be fiercely protective

of her company and brand, Ekta is also very professional and has strong business acumen.

Ekta Kapoor – the woman who changed the face of Indian television

13. Mallika Srinivasan

Mallika Srinivasan, currently the Director TAFE India, was honored with the title of

Businesswoman of the Year during 2006 by the Economic Times. She joined the company in 1986

and has since been responsible for accelerating turnover from 85 crores to 2900 crores within a

span of two decades. Mallika has an MBA from Wharton School of Business, Pennsylvania.

Mallika Srinivasan – responsible for spearheading TAFE’s growth and revenue potential

 

The role of Women Entrepreneur needs to be considered in the economic development

of the nation for various reasons. Women Entrepreneur has been recognized during the

last decade as an important untapped source of economic growth. Women Entrepreneurs

create new jobs for themselves and others and by being different also wage society with

different solutions to management, organization and business problems as well as to the

exploitation of Women Entrepreneurial opportunities. However, they still represent a

minority of all Women Entrepreneurs. Thus there exists a market unfortunate

discriminating against Women possibility to become Women Entrepreneurs and their

possibility to become successful Women Entrepreneurs. This market unfortunate needs to

be addressed by policy makers so that the economic potential of this group can be fully

utilized. While without a doubt the economic impact of women is substantial, we still

demand a reliable picture describing in detail that specific impact. Current efforts initiated

by the OECD (1997, 2000) are responses to this demand of knowledge and have focused

the attention of policy makers and was on this important topic. Women Entrepreneurship

has been largely neglected both in society in general and in the social sciences. Not only

have women lower participation rates in Women Entrepreneurship than men but they also

generally select to begin and manage firms in different industries than men tend to do. The

industries (primarily retail, education and other service industries) chosen by women are

often perceived as being less important to economic development and growth than high-

technology and manufacturing. Furthermore, conventional research, policies and

Proposals tend to be “men streamed” and too often do not take into statement the specific

needs of Women Entrepreneurs and would-be Women Entrepreneurs. As a consequence,

equal opportunity between men and women from the appearance of Women

Entrepreneurship is still not a reality. In order to realize the benefits of policy changes it is

important to incorporate a Women Entrepreneurial dimension in considering all SMEs and

growth policies (e.g. meeting Women financing needs at all stages of the business

continuum; take-up of business development and support services; access to corporate,

government and international markets; technology access and utilization; R&D and

innovation; etc.). Moreover this means periodically evaluating the impact of these

measures on the success of women-owned businesses and exchanging good models and

ideal practices, through cooperation with leading international organizations such as the

OECD, European Union, APEC, UNCTAD and the ILO, in order to continually improve

policies and Proposals.

Better qualitative information and decimal data and statistics are required to profile

Women Entrepreneurs (demographic information, barriers to start-up and growth). This

would also assist in promoting awareness of the role of Women Entrepreneurs in the

economy. Using a frame of reference such as that developed in the report could be

valuable for the analysis of this information. It is observed that Women Entrepreneur

networks are major sources of knowledge about Women Entrepreneur and they are

increasingly recognized as a valuable tool for its development and promotion. Policy

makers must foster the networking of associations and encourage co-operation and

partnerships among national and international networks and assist Women Entrepreneurial

endeavors by women in the economy. The challenge of world class competition and the

attempts at globalization and Liberalization has tremendously modified the business

environment of firms in India. In contributing to the working of any firm in India, be as a

policy maker or as a mortal doing business with a firm in India or as a marketing

practitioner or as an academician, it is important to comprehend how practically the firms

have taken measures to combat the onslaught of these challenges. What new turns have

been prefabricated in the actual working system of Women Entrepreneur? In other words,

an understanding of the exact nature of the paradigm shifts in small and medium

enterprises. That is, from the point of view of an individual firm in India, how the

challenge of the shifting economic environment been perceived and what new efforts have

been adopted towards managing these challenges? From the above passages, it is

worthwhile to mention the major suggestions contributed by the researchers from the

wide-ranging study about Women Entrepreneur were summarized below: Increase the

capability of women to participate in the have force by ensuring the availability of

inexpensive child care and equal treatment in the work place. More generally, improving

the position of women in society and promoting Women Entrepreneurship generally will

have benefits in terms of Women Entrepreneur. Listen to the voice of Women

Entrepreneurs. The creation of government offices of Women business ownership is one

way to assist this. Such offices could have programmed responsibilities such as providing

Women business centres, organizing information seminars and meetings and/or providing

web-based information to those wanting to begin and grow a business. Incorporate a

Women Entrepreneurial dimension in the formation of all SME-related policies. This can

be done by ensuring that the impact on Women Entrepreneur is taken into statement at the

design stage. Promote the development of Women Entrepreneur networks. These are

major sources of knowledge about Women Entrepreneur and valuable tools for its

development and promotion. Co-operation and partnerships between national and

international networks can assist Women Entrepreneurial endeavors by women in a global

economy. Periodically evaluate the impact of any SME-related policies on the success of

women-owned businesses and the extent to which such businesses take advantage of them.

The neutral should be to refer ways to improve the effectiveness of those that should be

retained. Good practices that are identified in this way should be disseminated and shared

internationally. Improve the existent and analytical underpinnings of our understanding of

the role of Women Entrepreneurs in the economy. This requires strengthening the

statistical basis for carrying out gender-related cross-country comparative analyses and

longitudinal studies of the impact of important developments and policies, especially over

time. Women Entrepreneur is dependent on both demand side (political and institutional

framework, family policy and market sources) and supply side factors (the availability of

suitable individuals to occupy Women Entrepreneurial roles). Women Entrepreneur

depends on both the situation of women in society and the role of Women

Entrepreneurship in that same society. Both the factors that affect the gender system and

the factors that affect Women Entrepreneurship in society are involved.

The area of entrepreneurship was the focus of the report:”A benchmark study of

entrepreneurship what can Denmark learn?”2 The report concluded that: “There is a link

between policy and entrepreneurial activity……. The best-performing countries also have

the best framework conditions.”The report identified five areas that are top priorities in the

best-practice countries, areas which Denmark has failed to address. One of the areas,

education, is the focus of this report. The report deals with entrepreneurship education in

higher education. The availability of entrepreneurship programs at university level is

important for a number of reasons: First of all, universities are instrumental in supplying

relevant entrepreneurial skills. Furthermore, entrepreneurship education has a significant

impact on university culture and the local community. Finally, universities that have a

strong focus on entrepreneurial activities often assume an active role in regional business

development.

Entrepreneurship education is important for a number of reasons: Universities as

facilitators of an entrepreneurial culture - a strong focus on entrepreneurship will

undoubtedly “spill over” to non-business students and help foster an entrepreneurial

culture. Universities as mediator of skills – entrepreneurship students pursuing an

entrepreneurial career are equipped with a set of skills that will help them identify 10

viable business ideas and provide them with a practical approach to entrepreneurship

.Entrepreneurial courses may complement general education for a broad range of students

or serve as a specialist course for an elite group of entrepreneurship students. Universities

as “locomotives” of regional business development - a strong political focus on

entrepreneurship will likely boost university relations with other stakeholders in the

entrepreneurial field and facilitate the creation of regional policies and favorable

entrepreneurship infrastructures.

Women Entrepreneurship is the two about Girls pose in society and the function of Ladies

Entrepreneurship in the identical society. Females are confronted with specific hurdles

(such as loved ones responsibilities) that have to be conquer in purchase to give them

entry to the same possibilities as guys. Also, in some nations, ladies could encounter

obstacles with respect to keeping residence and entering contracts. Improved participation

of females in the labour force is a prerequisite for bettering the position of ladies in society

and self-utilized girls.

The part of Girls Entrepreneur desires to be deemed in the economic advancement

of the nation for various reasons. Ladies Entrepreneur has been regarded throughout the

final decade as an crucial untapped resource of financial development. Women

Entrepreneurs create new jobs for by themselves and other individuals and by getting

diverse also provide society with various remedies to management, organization and

company troubles as well as to the exploitation of Women Entrepreneurial opportunities.

Nevertheless, they still represent a minority of all Girls Business owners. Hence there

exists a market place failure discriminating versus Females possibility to grow to be

Ladies Entrepreneurs and their probability to turn out to be profitable Females

Entrepreneurs. This industry failure requirements to be addressed by policy makers so that

the financial potential of this group can be fully used. While devoid of a doubt the

financial influence of girls is substantial, we nevertheless lack a dependable image

describing in detail that certain effect. Current efforts initiated by the OECD (1997, 2000)

are responses to this lack of knowledge and have centered the attention of policy makers

and was on this critical subject.

Women Entrepreneurship has been mostly neglected equally in society in common and

in the social sciences. Not only have ladies reduced participation charges in Women

Entrepreneurship than adult males but they also usually choose to commence and handle

firms in different industries than males are inclined to do. The industries (largely retail,

education and other services industries) chosen by women are usually perceived as

currently being significantly less crucial to financial advancement and progress than large-

technological innovation and manufacturing. It is observed that Ladies Entrepreneur

networks are significant resources of understanding about Girls Entrepreneur and they are

increasingly identified as a valuable tool for its development and marketing. Policy

makers need to foster the networking of associations and motivate co-operation and

partnerships amid national and worldwide networks and facilitate Ladies Entrepreneurial

endeavors by females in the economic climate. The problem of earth class opposition and

the attempts at globalization and Liberalization has tremendously altered the organization

environment of companies in India. In contributing to the doing work of any firm in India,

be as a policy maker or as a particular person carrying out organization with a firm in

India or as a marketing practitioner or as an academician, it is crucial to realize how

virtually the companies have taken measures to fight the onslaught of these challenges.

What new turns have been manufactured in the true functioning system of Ladies

Entrepreneur? In other words, an knowing of the actual nature of the paradigm shifts in

tiny and medium enterprises. That is, from the position of see of an specific firm in India,

how the challenge of the shifting financial setting been perceived and what new efforts

have been adopted in the direction of managing these difficulties? From the above

passages, it is worthwhile to point out the key recommendations contributed by the

researchers from the broad-ranging study about Girls Entrepreneur were summarized

beneath:

Boost the ability of women to participate in the labour force by making sure the

availability of inexpensive little one treatment and equal treatment method in the operate

area. More usually, bettering the placement of women in society and advertising Females

Entrepreneurship typically will have benefits in terms of Women Entrepreneur. Listen to

the voice of Women Entrepreneurs. The development of federal government offices of

Ladies organization ownership is one particular way to facilitate this. These kinds of

offices could have programmed duties such as providing Ladies business centres,

organizing info seminars and meetings and/or offering net-primarily based information to

people seeking to start off and grow a business. Integrate a Girls Entrepreneurial

dimension in the formation of all SME-related policies. This can be completed by

ensuring that the impact on Girls Entrepreneur is taken into account at the design stage.

Advertise the growth of Girls Entrepreneur networks. These are major resources of

expertise about Females Entrepreneur and important tools for its advancement and

promotion. Co-operation and partnerships in between national and worldwide networks

can facilitate Girls Entrepreneurial endeavors by women in a worldwide economic system.

Periodically examine the affect of any SME-connected policies on the good results of

girls-owned corporations and the extent to which this sort of businesses consider

advantage of them. The goal need to be to identify ways to increase the effectiveness of

those that need to be retained. Good practices that are recognized in this way ought to be

disseminated and shared internationally. Increase the factual and analytical underpinnings

of our knowing of the role of Girls Business owners in the economy. This requires

strengthening the statistical foundation for carrying out gender-related cross-country

comparative analyses and longitudinal reports of the impact of important developments

and policies, specially above time. Women Entrepreneur is dependent on equally demand

side (political and institutional framework, household policy and market resources) and

provide side factors (the availability of acceptable individuals to occupy Women

Entrepreneurial roles). Girls Entrepreneur is dependent on equally the scenario of girls in

society and the role of Women Entrepreneurship in that very same society. Each the

elements that influence the gender technique and the elements that affect Girls

Entrepreneurship in society are involved.

Female entrepreneurship has exploded in the United States for a number of reasons,

but has also felt the limits of being a minority in the conservative business world. Since

World War II, when women were forced to sustain the home front by becoming part of the

working class, women have developed a taste for the business world. This new role

eventually led women to need autonomy and led them toward entrepreneurship after

facing glass ceilings and discrimination in the business world. But, even as the trend of

female entrepreneurship grows, women continue to struggle as business owners. One of

the major struggles for women business-owners continues to be financial discrimination.

For many women, franchising has increased their credibility to lenders and offered them

the opportunity to achieve their business goals individually, while also placing them in a

non-discriminatory role.Women in the United States have played an important role in our

society, but that role has changed in the last century greatly. In the early 1900’s women

were only here to serve as wives and caregivers for their children. The thought of a

women being in the business world was unthinkable until the mid-1930s. During World

War II, women went to work in the factory to take the place of the servicemen. When the

men returned from war, the women were urged to return to the home. It was after the

women were forced out of the factories that women’s rights activists began to protest.

The protesting did not do enough for women, they still lacked predominate roles in the

business industry until the late 1960s.

A book by the name Matilda Harper and the American Dream: How One Woman

Changed the Face of American Business supports that it was Matilda Harper who created

the franchising concept, a major contribution to the history of business. Her

entrepreneurial ways were used to franchise hair salons that remain in business still today,

although none of Matilda’s salons remain under the same name. More importantly,

however, are her contributions to business structure through developing the franchising

concept (LaGrassa, 1). Matilda Harper had a vision that not only included business

concepts, but a vision for women in business. Harper saw “a special something” in

women that would revolutionize business operations. She saw that women are creative,

good listeners, detail-oriented, and friendlier in a business setting. These are just a few

reasons why women have emerged as strong entrepreneurs. Society has been shaping

these qualities in women progressively through history, but few have put them into use

until the last 20-30 years (La Grassa, 1). This paper addresses the opportunities,

difficulties, and successes of women as entrepreneurs. It is supported with various

examples of successful women in different industries. Attached to the body of the paper is

an appendix with data further supporting our ideas. 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. That is, from the point of view of an individual firm in India, how the

challenge of the shifting economic environment been perceived and what new efforts have been

adopted towards managing these challenges?

1. Increase the ability of women to participate in the labour force by ensuring the

availability of affordable child care and equal treatment in the work place. More

generally, improving the position of women in society and promoting Women

Entrepreneurship generally will have benefits in terms of Women Entrepreneur.

2. Listen to the voice of Women Entrepreneurs. The creation of government offices

of Women business ownership is one way to facilitate this. Such offices could

have programmed responsibilities such as providing Women business centers,

organizing information seminars and meetings and/or providing web-based

information to those wanting to start and grow a business.

3. Incorporate a Women Entrepreneurial dimension in the formation of all SME-

related policies. This can be done by ensuring that the impact on Women

Entrepreneur is taken into account at the design stage.

4. Promote the development of Women Entrepreneur networks. These are major

sources of knowledge about Women Entrepreneur and valuable tools for its

development and promotion. Co-operation and partnerships between national and

international networks can facilitate Women Entrepreneurial endeavors by women

in a global economy.

Women entrepreneurs may be defined as the women or a group of women who

initiate, organize and operate a business enterprise. The Government of India has

defined a woman entrepreneurship as "an enterprise owned and controlled by a

woman having a minimum financial interest of 51% of the capital and giving at

least 51% of the employment generated in the enterprise to women". According to

the Centre for Women's Business Research (2008), 10.1 million firms are owned

by women (40% of privately owned businesses), employing more than 13mn

people and generating $1.9 trillion turnover in United States (Paramjit Mahli,

2008). In India, women constitute around 48 percent of the population but their

participation in the economic activities is only 34 percent. As per the Human

Development Report (2007), India ranks 96th on the gender related development

index of 137 nations. The gender empowerment measures, which estimate the

extent of women participation in the country's economic and political activities,

rank India as 110th of the 166 nations. In the sociological set-up, the Indian society

is a male dominant one. Women are left with closed commitments only. Such

sociological and cultural habits, have been keeping the women sector of the Indian

population, a dormant one for quite a long time. In the emerging complex social

scenario, women have a pivotal role to play. They can no longer be considered as

mere harbingers of peace, but are emerging as a source of power and symbol of

progress. The task of co-ordination of various activities in a much useful manner,

is being well managed by Indian women in the families. A family is the nucleus of

the society. Similarly an 'Enterprise' is the nucleus of the economy. An enterprise

is the basic unit of an economic organization. Now women have taken up

entrepreneurial role in order to create a meaning for themselves. The traditional

roles of housewives are gradually changing into women entrepreneurs. Some of

the factors responsible for these changes are better education, changing socio

cultural values and need for supplementary income. When proper exposure,

education and knowledge are imparted to them, Indian women will prove

themselves to be highly potential productive force for the development of the

nation. When a woman moves forward, the family moves and the country moves,

in turn, the whole nation moves forward. Upliftment of women is an essential

ingredient of human development. Entrepreneurship development among the

women-force would strengthen the economy and promote regional development

(Hisrich and Lerner, 1997).

The study by Rani (1996) found that the availability of leisure time motivated women

entrepreneurs from higher income classes. Contrary to the above, women entrepreneurs

are forced to take entrepreneurship in the absence of any other means of contributing to

family income (D'Cruz, 2003). The study also found that, family support and

encouragements are the highest facilitating factor which helped women to aspire

entrepreneurship (Pillai and Anna, 1990). Traditional concept of the entrepreneurship

cited the desire to self-employed, to generate income and to utilize skills according to

Hookoomsing and Essoo (2003), (Richardson et al., 2004). Women's reasons for starting

business are not always often driven by positive factors but also due to negative

circumstances such as low family income, lack of employment opportunities,

dissatisfaction with a current job or the need for flexible work(Robinson, 2001), These

factors tend to be most predominant among women within developing economies

(Dhaliwal, 1998). A previous study also observed that the primary concern of women

NGO founders in India is pursuing the NGO's mission than the earnings (Handy, Kassam

and Ranade, 2003).A social entrepreneur is motivated by a desire to help, improve and

transform social, environmental, educational and economic conditions. Key traits and

characteristics of highly effective social entrepreneurs include ambition and a lack of

acceptance of the status quo or accepting the world "as it is". The social entrepreneur is

driven by an emotional desire to address some of the big social and economic conditions

in the world, for example, poverty and educational deprivation, rather than by the desire

for profit. Social entrepreneurs seek to develop innovative solutions to global problems

that can be copied by others to enact change.

Social entrepreneurs act within a market aiming to create social value through the

improvement of goods and services offered to the community. Their main aim is to help

offer a better service improving the community as a whole and are predominately run as

nonprofit schemes. Zahra et al. (2009: 519) said that “social entrepreneurs make

significant and diverse contributions to their communities and societies, adopting business

models to offer creative solutions to complex and persistent social problems”.

A serial entrepreneur is one who continuously comes up with new ideas and starts new

businesses In the media, the serial entrepreneur is represented as possessing a higher

propensity for risk, innovation and achievement. Serial entrepreneurs are more likely to

experience repeated entrepreneurial success. They are more likely to take risks and

recover from business failure.

A lifestyle entrepreneur places passion before profit when launching a business in

order to combine personal interests and talent with the ability to earn a living. Many

entrepreneurs may be primarily motivated by the intention to make their business

profitable in order to sell to shareholders. In contrast, a lifestyle entrepreneur intentionally

chooses a business model intended to develop and grow their business in order to make a

long-term, sustainable and viable living working in a field where they have a particular

interest, passion, talent, knowledge or high degree of expertise. A lifestyle entrepreneur

may decide to become self-employed in order to achieve greater personal freedom, more

family time and more time working on projects or business goals that inspire them. A

lifestyle entrepreneur may combine a hobby with a profession or they may specifically

decide not to expand their business in order to remain in control of their venture. Common

goals held by the lifestyle entrepreneur include earning a living doing something that they

love, earning a living in a way that facilitates self-employment, achieving a good work/life

balance and owning a business without shareholders. Many lifestyle entrepreneurs are

very dedicated to their business and may work within the creative industries or industry,

where a passion before profit approach to entrepreneurship often prevails. While many

entrepreneurs may launch their business with a clear exit strategy, a lifestyle entrepreneur

may deliberately and consciously choose to keep their venture fully within their own

control. Lifestyle entrepreneurship is becoming increasing popular as technology provides

small business owners with the digital platforms needed to reach a large global

market.Younger lifestyle entrepreneurs, typically those between 25 and 40 years old, are

sometimes referred to as Treps.Studies have shown that a host of barriers prevent women

from realizing their full potential as entrepreneurs, where they could make significant

contribution to society. Entrepreneurship by definition implies being in control of one’s

life and activities. It is precisely this independence that many societies have denied

women (Vishwanathan, 2001). Women’s family obligations often bar them from

becoming successful entrepreneurs in both developed and developing nations. As

Seymour puts it, “Having primary responsibility for children, home and older dependent

family members, few women can devote all their time and energies to their business”

(Seymour, 2001). Traditional gender role expectations and patriarchal attitudes in many

developing nations make it even more difficult for women to relieve themselves of family

responsibilities. The familial and social conditioning in many developing countries

inhibits the confidence, independence and mobility of women. The area of

entrepreneurship was the focus of the report:”A benchmark study Entrepreneurship - what

can Denmark learn?”2 The report concluded that: “There is a link between policy and

entrepreneurial activity .The best-performing Countries also have the best framework

conditions.” The report identified five areas that are top priorities in the best-practice

countries Areas which Denmark has failed to address. One of the areas, education, is the

focus of this report. The report deals with entrepreneurship education in higher education.

First of all, universities are instrumental in supplying relevant entrepreneurial skill

Furthermore, entrepreneurship education has a significant impact on university culture

And the local community. Finally, universities that have a strong focus on Entrepreneurial

activities often assume an active role in regional business development. Many factors like

urbanization, technical progress, women education, etc., have profoundly changed these

traditional conditions even in a developing country like, India. Slowly starting with the

metropolitan areas and going back, the women role at home has become more & more

clearly that if they really want to contribute to the welfare of the family & society the most

effective way is to go out of home & earn money. Women in India are beginning to follow

the direction that the women of the western world took more than eighty years ago.

Women are increasingly becoming conscious of their existence, their rights & their work

situations. The Indian women proved their footage in the male dominated business arena.

The entry of women into business is a recent development in the orthodox, traditional

socio cultural environment of Indian society. The hidden entrepreneurial potential of

women has gradually been changing with the growing sensitivity to the role and economic

status in the society. Today, women entrepreneurs represent a group of women who have

broken away from the beaten track and are exploring new areas for economic

participation. Among the reasons for women to run organized enterprises are their skill &

knowledge their talents, abilities & creativity in business and a compelling desire of

wanting to do something positive. The entrepreneurs, in the modern sense, are the self

starters & doers of a business, who have organized & built their own enterprise. In

common practice, almost anyone who starts an enterprise, industry, shop is called an

entrepreneur. Entrepreneurship is a key to economic development of a country. Women

entrepreneurs require confidence, leadership and managerial skills for their accessibility to

new markets. Entering into business as a woman offers the omni-challenges of learning

how to effectively operate the activities of such business while simultaneously attempting

to meet all other expectations that are part of entrepreneurship. Women entrepreneurship

usually focus on survival and growth of the enterprises managed and controlled by women

with less attention on those factors that are most likely to result in business failure when

they are starting their businesses. The priority choices and sacrifices made by women

entrepreneurs can take the form of individual opportunity cost decisions, in which they

reject alternative competing activities that vie for their time and consideration. This

necessarily means that other obligations and activities that can help them handle the

challenges they are likely to face in business should receive more attention. The present

study therefore focuses on a new area of career research as regards the relationship

between women entrepreneurial motivation and the challenges they face in business. The

study seeks to examine the effect of motivational factorson entrepreneurial challenges

among women. Women’s productive activities, particularly in industry, empower them

economically and enable them to contribute more to overall development. Whether they

are involved in small or medium scale production activities, or in the informal or formal

sectors, women’s entrepreneurial activities are not only a means for economic survival but

also have positive social repercussions for the women themselves and their social

environment. Entrepreneurship represents an appropriate opportunity for women all over

the world, as entrepreneurship responds flexibly to entry, change and innovation. This

potential has not yet been realised in an optimal fashion in most developing countries. A

large number of women work in the informal sector but their contribution is not included

in national accounts. There are a variety of constraints on women and the ability of

women to upgrade their production continuously. These include poor access to market

information, technology and finance, poor linkages with support services and an

unfavorable policy and regulatory environment. These constraints are further compounded

by the need to compete in an aggressive business environment with rapid technological

changes and the globalization of production, trade and financial flows. Although many of

the constraints are shared by both female and male entrepreneurs, women entrepreneurs

face additional obstacles; this is due to deeply rooted discriminatory socio-cultural values

and traditions, embedded particularly in the policy and legal environment, and in

institutional support mechanisms. In many instances women are unable to benefit from

services, and must struggle to overcome or circumvent discriminations in business circles.

All levels of education are important in creating a strong entrepreneurial and independent

culture among youths. In primary and secondary education entrepreneurship education

will not have an immediate impact on entrepreneurial activity. However project-based

education and activities that promote creativity will help facilitate an independent

approach to life. In higher education the effect of education on entrepreneurial activity is

much stronger. Students are introduced to all aspects of entrepreneurship: screening,

planning, financing, organization, start-up, operation and growth; proficiencies essential to

students that want to pursue a career as entrepreneurs and equally important for future

venture capitalists, entrepreneurial advisors, intrapreneurs, concept developers and

managers. Female entrepreneur is an interesting topic in the entrepreneurship field of

study since there are a few numbers of researches that show that female-owned businesses

are gradually becoming an important factor to contribute growth in the global economy.

The study of ‘how’ to start business and ‘how’ to keep the business successful and

sustainable in global business world is the focus in most of the research. Still, what

motivates an entrepreneur to start business is one interesting topic for further and deeper

study in the field of entrepreneurship and especially female entrepreneurship. In addition

to the motivation of becoming an entrepreneur, other factors that could have possibility in

influencing the motivation as well as similarities and differences on motivation when

comparing in nationalities are interesting to focus on in the study.