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women entreprenuers project work on challenges faced by women entreprenuers
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In today’s world Women Entrepreneurs are playing a very vital role and they have become an important part of the global business environment and it’s really important for the sustained economic development and social progress. In India, though women are playing key role in the society, their entrepreneurial ability has not been properly tapped due to the lower status of women in the society. The main purpose of this study is to find out the problems and issues faced by the Women Entrepreneurs with respect to the city of Ranchi. The main objective of the study is to know the different types of problem faced by them during the businesses. The sample includes 60 Women Entrepreneurs The sampling technique used is convenient random sampling technique. Interview method and secondary Sources of data are used to collect data from Women Entrepreneurs The study entails the importance of Women Entrepreneurs through the case study where their entrepreneurial skills helped them to get the identification for themselves and be respectful in the mainstream of business. Mrs Arti Poddar, Aruna Tirkey and Tanishk Shyamya is role model to be followed where they have kept no stone unturned to make themselves successful. This study has founded that the various types of problem faced by them are financial, marketing and sales, legal, labor/personnel, technological or any other problems. Based on findings of the research, entrepreneurs are to some extent satisfied with the mechanisms being followed but still seek for further improvement in the mechanism. The market conditions and technology should be updated regularly for a successful business.
The word “ Entrepreneur ” is an English word that has been loaned from the 18th century French. The French loan word was “ Entreprende ”, which means in Old French “ to undertake ” and was used mainly in French to describe a " manager or promoter of a theatrical production " Many people down through the ages have had a say in the development of the meaning of the word “ Entrepreneur ”, particularly in relation to how it relates to business and commerce. Development of Entrepreneurship Theory and the term Entrepreneur ❖ 17th century: Person bearing risks of profit (loss) in a fixed-price contract with Government. ❖ 1725: Richard Cantillon - person bearing risks are different from one supplying Capital. ❖ 1803: Jean Baptiste Say-separated profits or entrepreneur from profits of capital ❖ 1876: Francis Walker - distinguished between those who supplied funds and received interest and those who received profit from managerial capabilities. ❖ 1934: Joseph Schumpeter - entrepreneur is an innovator and develops untried technology. ❖ 1961: David McClelland - entrepreneur is an energetic, moderate risk-taker. ❖ 1964: Peter Drucker - entrepreneur maximizes opportunities. ❖ 1975: Albert Shapero - entrepreneur takes initiative, organizes some social and economic mechanisms, and accepts risks of failure. ❖ 1980: Karl Vesper - entrepreneur seen differently by economists, psychologists, business persons, and politicians. ❖ 1983: Gifford Pinchot - Entrepreneur is an entrepreneur within an already established organization. ❖ 1985: Robert Hisrich - entrepreneurship is the process of creating something different with value by devoting the necessary time and effort, assuming the accompanying financial, psychological, and social risks, and receiving the resulting rewards of monetary and personal satisfaction.
❖ Founder and CEO of Neuro Flow shares, “Entrepreneurship means being the one that is willing to take a leap, hard work enough to sacrifice everything else around you, all in the name of solving problems because no one else is capable or possesses the desire. 1.1.3 Entrepreneurship Entrepreneurship is the process of designing, launching and running a new business, which is often initially a small business. Entrepreneurship is the act of creating a business or businesses while building and scaling it to generate a profit. However, as a basic entrepreneurship definition, it’s a bit limiting. The more modern entrepreneurship definition is also about transforming the world by solving big problems. Like initiating social change, creating an innovative product or presenting a new life-changing solution. ❖ Derk Hutson, CEO of Datical : "Entrepreneurship is at the core of the American dream. It's about blazing new trails , about believing in yourself, your mission and inspiring others to join you in the journey. What sets [entrepreneurs] apart is the will, courage and sometimes recklessness to actually do it." ❖ Debbie Roxarzade, founder and CEO of Rachel’s Kitchen : "Entrepreneurship is the persistent progression towards an innovative solution to a key problem. It's the constant hunger for making things better and the idea that you are never satisfied with how things are." ❖ MJ Pedone, founder and CEO of Indra Public Relation : "To me, entrepreneurship means being able to take action and having the courage to commit and persevere through all of the challenges and failures. It is a struggle that an entrepreneur is willing to battle. It is using past experiences and intelligence to make smart decisions. Entrepreneurs are able to transform their vision into a business. I believe this process is at the core of any true entrepreneur." 1.1.4 Women Entrepreneurship Women Entrepreneurs may be defined as a woman or group of women initiate organize and run a business enterprise. In terms of Schumpeterian concept of innovative Entrepreneurs , “ women who innovate imitate or adopt a business activity called Women Entrepreneurs”. The class of Women Entrepreneurs may be understood to be the one that takes the initiative of launching a business project, organizes work and undertakes the risk involved in running it. Women Entrepreneurs have to perform a wide range of functions relating to establishment of an enterprise. These include the generating of an idea, its screening, choosing a form of organization, setting organizational goals and objectives, project planning and analysis, the completing of preliminary and promotional formalities, raising of capital, procuring factors of production and operating the business.
Fredrick Harbison says a woman Entrepreneur, like male Entrepreneurs, has to perform the following five functions:
1. Exploring Prospects : A business cannot be launched until and unless a business opportunity survey is conducted. A woman Entrepreneur too, like her male counterpart, has to explore a business unit. 2. Undertaking Risks : Business is full of uncertainties; the Entrepreneur has to undertake risks arising out of both the economic as well as the non-economic uncertainties.
1.3 - IMPORTANCE OF STUDY Women perform an important role in building the real backbone of a nation’s economy. There is considerable entrepreneurial talent among women. Many women’s domestic skills such as people and time management and household budgeting are directly transferable in the business context. Women have the ability to balance different tasks and priorities and tend to find satisfaction and success in and from building relationships with customers and employees, in having control of their own destiny, and in doing something that they consider worthwhile. They have the potential and the will to establish and manage enterprises of their own. These qualities and strength of women are to be tapped for productive channels. But simultaneous creation and development of small business among women is a difficult task. According to Brady Anderson J. “Ever though women’s contributions to business are one of the major engines of global economic growth, too often, women do not have access to basic business education, commercial credit and marketing opportunities……….”. Maintenance of proper quantitative balance among various economic activities is one of the principal functions of the economic system, which should operate to give freedom of choice to men and women. The process of economic development would be incomplete and lopsided, unless women are fully involved in it. The orientation of a society as a whole, regarding desirability that women should play an equal part in the country’s development is a very important precondition for the advancement not only of women, but the country as a whole. The highest national priority must be for the unleashing of women power which is the single most important source of societal energy. Women Entrepreneurs should be regarded as individuals, who take up roles in which they would like to adjust their family and society, economic performance and personal requirements.” Emancipation of women is essential prerequisite for economic development and social progress of the nation”. In the 21th century, multi – skilled, productive and innovative Women Entrepreneurs are inextricable for achieving sustained economic growth. Globalizations of industrial production and economic interdependence have become the torch-bearers for all international co- operations. In the dynamic world which is experiencing are likely to become an even more important part of the global quest for sustained economic growth and social development .women are vital development agents who play a significant role in the economic development of a nation, but they should have an equal access to productive resources, opportunities and public services. It has also been realized in the last few year that the widespread poverty and stunted economic growth can be overcome only by gainful and sustainable economic participation of women. Women in enterprises building has emerged as an agenda for many policy makers, researchers and trainers, and as well as for associations and organizations involved in women development. If women acquire skills, they can carve a niche for themselves in the outside world too. This is the reason why Women Entrepreneurship development has become a subject of great concern and serious discussion in recent times.
1.4 - SCOPE OF ENTREPRENEURS
1.5 - STATEMENT OF THE PROBLEM Today, women are facing lot of problems in the realms of economic, social and family based issues. Earlier women were totally dependent upon their husbands for financial needs because in the old traditional family systems women cannot go out and work. She cannot be self-reliant. She does not have property rights, taking up a job outside the home is still a question before women, the social set up is like they cannot earn money. It means they cannot be self-reliant or financially independent so all these problems are interlinked. The entry of women in the field of industry and business as an owner of an enterprise is a recent development to facilitate women to take up more challenging entrepreneurial careers to equip
Women Entrepreneurs Management skills and business problems”. Journal of small Business Management, 22 (Jan 1984) P 30 - 37.) ❖ Rani, (1986 ) found that the desire to do something independently was the prime motivating factor to start business activity amongst the sample respondents. The women in her sample reiterated their capability to take independent decisions and told that the thought of entering into entrepreneurial areas was their own and were not influenced by others (Rani C, Potential Women Entrepreneurs A study SEDME, 13 (3), p.p. 13- 32.1986.) ❖ Brush and Hisrich, (1988) reveal that a woman entrepreneur who has previous experience in the field stands a better chance of successfully establishing her venture than the woman who does not possess such experience. Financial skills are of key importance to business survival. (HISRICH R.D. and BRUSH “The Women Entrepreneurs- characteristics, skills, problems and prescriptions for success” in DI Sexton and R.W Similor(eds) The Arts and Science of entrepreneurship, Cambridge, Mass, Ballinger 1986.) ❖ Kale, (1990) the training approach is an important one for helping women in non- traditional high skill, male dominated activities and also to build confidence among women to meet the specific needs. Intensified effort has to be taken to assess the social attitude, mentality, needs and abilities of the women and impart training. (Kale, J.D. (1990), Women Entrepreneurship in Gujarat – Role of Centre for Entrepreneurship Development. Journal of Indian Management 29(7-12): 99-101.) ❖ Chandra, (1991) has mainly described the institutional services available for the Women Entrepreneur and the role of such organizations in the development of entrepreneurship. The study also presents a socio- economic profile of Women Entrepreneurs, the nature of their enterprises, motivation, factors crucial for success and the assistance from Government and Non-Governmental agencies. (Chandra, Shanti Kohli, 1991, Development of Women Entrepreneurship in India, Mittal Publications, New Delhi, p.70.) ❖ Mundra & Kotari, (1992) A study revealed that the main reasons for non-acceptance of trade were lack of confidence in skill followed by followed by lack of money and non- availability of marketing facilities, lack of raw material and lack of machines and tools. (Mundra, S.N. and Kusum Kotari, 1992, Impact of TRYSEM amongst women beneficiaries. Indian J. Extn. Edu.,28(1&2): 50-53) ❖ Schutte,Boshoff,& Bennette, (1995) The male entrepreneurs have been extensively studied and the focus has now shifted to the study of female entrepreneurs( Schutte, J.L., Boshoff, A.B. & Bennett, H.F. (1995). Measuring the Effectiveness of the Women Entrepreneurship: An Investigation into Curriculum Alignment towards Building Capacity, Entrepreneurship Research pp. 669-687. Wellesley, MA: Babson. College.) ❖ Punitha, Sangeetha, & Padmavathi, (1999) The least problems faced by both rural and urban Women Entrepreneurs were ignorance about schemes, distance from market and
ignorance about agency and institutions. (Punitha. M. Sangeetha, S. Padmavathi (1999), “Women Entrepreneurs: Their problems and constraints”, Indian Journal of Labour Economics, Vol 42, No: 4, p 701-706) ❖ Mishra, (2005) A study was conducted to know the coping styles used by the women depend upon the type of stressful experience. 100 women (50 working and 50 non - working) were assessed with regards to the nature of stress they experience in a given period and coping strategies they use to overcome these stresses. Results show that there were significant differences in the frequency of use of coping styles in response to different areas of stress. (R.C. Mishra (2005), “Women Education” Publishing, 2005ISBN8176488844, 9788176488846) ❖ Sayeed &Nusrat, (2008) It is found that the most frequent barriers faced by Women Entrepreneurs were lack of difficult to get help from the financial institution, obtaining trade license, tax certificate, etc. other barriers are absence of proper women business community to raise the issue to the policy makers of the country and absence of business training institution to teach them how to start the business.( Sayeed and Nusrat, 2008, ‘Women Entrepreneurs in Dhaka: Some Barriers to Success’, International conference on social sciences and humanities at University of Sains Malaysia, pp. 18-20.) ❖ Rajani, (2008) A study was conducted on ‘Management Training Needs of Women Entrepreneurs’ examines the quality of micro enterprises management by women in socio-cultural milieu and to project the management training needs of Women Entrepreneurs Data was collected from the sample of 100 Women Entrepreneurs The study concluded that training needs are identified in the area of confidence building, competence connections and capital. (Rajani, N. (2008). Management Training Needs of Women Entrepreneurs Anthropologist.10(4). (pp. 277-281). ❖ Brimmer, (2012) has made an evaluation of the job of a mechanical association known as the overseeing office framework which was shaped by British and an Indian Entrepreneurship to conquer confinements forced by their absence of capital and business capacity. (F. Brimmer (2012). “The Setting of Entrepreneurship in India”, Quarterly Journal of Economics, Vol. LXIX, No.4, pp.40-50.) ❖ Mukherjee, (2013) has examined that women from the low-salary segment take up entrepreneurship as a survival technique. The examination reports that wandering into entrepreneurship affected the Women Entrepreneurs The discoveries show that with entrepreneurship development, the respondents built up a positive confidence as they increased self-assurance and were autonomous in settling on their own choices, in this way decreasing their reliance on their life partner/family members (Sujatha Mukherjee (2013). “Women Entrepreneurship: The Changing Status” The IUP Journal of Entrepreneurship Development, Vol.X, No.3, pp.35- 53 ) ❖ Rathod, ( 2014 ) studied the challenges and constraints confronted by female entrepreneurs to develop their business in Gujarat state of India. The study identifies challenges and constraints that female entrepreneurs for which Females should develop their basic knowledge of business and it is recommended that a continuous attempt to inspire, encourage, motivate and cooperate female entrepreneurs related to business or
