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IOSR Journal of Business and Management IOSRJBM eISSN 2278487X pISSN 23197668 Volume I 7 Issue 2Ver II Feb 2015 PP 0613 www iosrjournals org Women Entrepreneurship A Literature Review 1CMA Dr MeenuMaheshwari 2Ms PriyaSodani IAssisstant Professor amp Former Head Department of Commerce amp Management University of Kota Kota Raj 2Research Scholar Department of Commerce amp Management University of Kota KotaRaj Abstract Women Entrepreneur is a person who accepts challenging role to meet her personal needs and become economically independent Increasing numbers of women are becoming leaders of their own businesses and many are struggling to achieve success Women entrepreneurship is considered an important tool inenabling women empowerment This paper looks at the literature around women entrepreneurship It is hoped that it will be useful to fellow researchers who are undertaking studies in this area In the light of recent world events this has become a crucial area to study and understand especially with respect to motivations constraints and consequences The factors that a ect women s particzpation roles are differentacross the world changing with the dynamic nature of the environments in which theylive The e orts are on it to uplift the social and economic status of women The development of women as an entrepreneur will generate multifaceted socio economic benefits for the country I Indian Perspective Empirical Research Literatures 1 VKrishnamoorthy and RBalasubramani April 2014 identi ed the important women entrepreneurial motivationfactors and its impact on entrepreneurial success The study identi ed ambition skills and knowledge family support marketopportunities independence government subsidy and satisfaction are the importantentrepreneurial motivational factors The study also concluded that ambition knowledge andskill independence dimensions of entrepreneurial motivational has signi cant impact onentrepreneurial success 2 G Palaniappan C S Ramanigopal A Mani 19 March 2012 in their article analyzed that women have been successful in breaking their barriers within the limits of their homes by entering into varied kinds of professionals and services Skill knowledge and adaptability in business are the main reasons for women to emerge into business ventures This study had also been carried out to analyze the motivational factors and other factors that in uence women to become entrepreneurs the major strength and weakness of women entrepreneurs and the environmental opportunities and threats which promote the entrepreneurship and to offer suggestions to promote women entrepreneurship of selected districts in Tamilnadu This study concluded that due to lack of training and education they are not able to survive in the market Finance is also the major problem for women entrepreneurs 3 Anita TripathyLal sNovember 15 2012main objective of this research was to study the signi cant rise of Women Entrepreneurs in India and how it has evolved since the preindependence days before 1947 during the British colonial days The study also analyzed the reasons that have prompted the women entrepreneurs to unleash their entrepreneurial energies into startups Based on both qualitative and quantitative analyses the growth of women entrepreneurship in India have been studied into four different periods Pre Independence Period before 1947 PostIndependence Period after 1947 PostLiberalization Period after 1991 and Post Global Recession period 2008 onwards The study nally concluded to what extent the various support systems in India can further foster a conducive ecosystem for the Women Entrepreneurs in India 4 Cohoon Wadhwa and Mitchell 2010 presented a detailed exploration of men amp women entrepreneur s motivations background and experiences This study identi ed top ve nancial and psychological factors motivating women to become entrepreneurs These are desire to build the wealth the wish to capitalize own business ideas they had the appeal of startup culture a long standing desire to own their own company and working with someone else did not appeal them The study concluded that the women are very much concerned about protecting intellectual capital than their counterpart Mentoring is very important to women which provides encouragement amp nancial support of business partners experiences amp well developed professional network 5 Dr Sunil Deshpandeamp Ms SunitaSethi Shodh SamikshaaurMulyankanOctN0V2009 in their research paperexhibits the encouraging and discouraging factors in an enterprise and to provide solutions to the various problems faced by the women entrepreneur group For the betterment of women entrepreneur emphasize should be on educating women strata of population spreading awareness and consciousness amongst women to DOI 109790487X 17220613 wwwiosrjournalsorg 6 Page Women Entrepreneurship A Literature Review outshine in the enterprise eld making them realize their strengths and important position in the society and the great contribution they can make for their industry as well as the entire economy 6 Veena S Samani 2008 in her thesis threw light on a speci c section of working class the women engaged in food processing The study shows that majority of women in Gujarat have expertise and unique skill of preparing and processing food The food processing may be of different types and quantity but these enterprises have been found to be great success whether attached with home or not The present study also throws light on their knowledge attitude and practices and problems Stress was the major problem faced by all the selected women The researcher found that most of the women entrepreneur were Hindus around 65 of women belonged to nuclear families and small number of women had obtained formal training 7 Singh Surinder Pal 2008 in this study identi es the reasons and in uencing factors behind entry of women in entrepreneurship He mentioned the obstacles in the growth of women entrepreneurship are mainly lack of interaction with successful entrepreneurs social unacceptance as women entrepreneurs family responsibility gender discrimination missing network low priority given by bankers to provide loan to women entrepreneurs He suggested the remedial measures like promoting micro enterprises unlocking institutional frame work projecting and pulling to grow and support the winners etc 8 Lall Madhurima and SahaiShikha 2008 identi ed Psychographic variables like degree of commitment entrepreneurial challenges amp future plan for expansion based on demographic variables The study identi ed business owner s characteristics as selfperception selfesteem Entrepreneurial intensity amp operational problem for future plans for grth amp expansion The study suggested that though there has been considerable growth in number of women opting to work in family owned business but they still have lower status and face more operational challenges in running business 9 Binitha V Thampi January 2007 in his thesis attempts to understand the association between women39s work and children39s wellbeing in aspeci c social setting It also tries to explain the causal relationship of women39s work status on child wellbeing It was found that as the number of activities on the work front increases the amount of time that mothers spend on childcare decreases This study shows that though maternal employment does not result in child morbidity outcomes it certainly constrains women in nding alternate care arrangements as well as compelling them to perform most of the work in the childcare regime 10 SairabellKurbah Martin Luther2007 in their article investigated the multifactorial nature of women s role in economic development in the East Khasi Hills area of Meghalaya state to determine the enabling and constraining factors associated with successful entrepreneurship in terms of personal social cultural political and economic characteristics Despite average education and humble family backgrounds the Khasi women have been equal to men in being quite enterprising and successful through hard work patience and good public relations Khasiculture is in fact a strong in uence in promoting such enduring traits among women who have been able to build an economic base strong enough to provide their children with a good starting point in life A higher level of education and employable skills for women entrepreneurs can help in improving their levels of productivity and promote risktaking and innovativeness ll PumamitaDasgupta 2005 revealed that women s labour force participation rate in rural India was negatively in uenced by education ownership of land age and number of young below 5 years in household Monthly per capita expenditure negatively affected the decision to participate in the labour force and was of greater signi cance for BPL households Also wage rate had a negative effect on women s labour force participation but was only signi cant for BPL households 12 PK Bardhan s 1979 analysed the determinants of women s labour force participation rate in rural West Bengal Indian state He empirically proved that women s labour force participation rate in rural West Bengal was negatively in uenced by increase in number of dependents in the household number of adult males in the household the village unemployment rate and standard of living for the household Women s labour force participation rate was positively affected by the harvestingtransplanting season JulySeptember He also found out that low caste and tribal women participate more in the labour force than higher caste women even in rural areas 13 Jacob Mincer s 1962 laid emphasis on determining factors affecting of women s particularly married decision to participate in the labour force Mincer proved that wives were more likely to participate in the labour force if husbands earnings were lower than permanent earnings Moreover if the education level of family head was high changes in permanent and transitory income weakly affected participation rate It was also noted that unemployment and presence of young children in households had discouraging effects on labour force participation but statistical significance was absent Mincer introduced the key determinants to women s labour force participation that could be later studied for different groups non married or divorced women 14 GurendraNathBhardwaj Swati Parashar Dr BabitaPandey and PuspamitaSahu in this study revealed the major hurdles that the women face during starting and running a company generally come from nancing and balancing of life The other hindering external factors include gender discrimination inaccessibility to information training opportunities in astructure etc Some internal factors like risk aversion by women lack of DOI 109790487Xl72206l3 wwwiosrjournalsorg 7 Page Women Entrepreneurship A Literature Review con dence lack of vision of strategic leader etc can also create obstacles for the women entrepreneurship development This study suggested that government should set some priorities for women entrepreneurs for allocation of industrial plots sheds and other amenities and precautionary measures should be undertaken to avoid the misuse of such facility by the men in the name of the women 15 S Vargheese Antony Jesurajan and S VargheesPrabhu in their empirical investigation revealed the expectations of women entrepreneurs in Tirunelveli district The nding depicts many factors like nance training support and schemes are the major expectations among the women entrepreneurs in Tirunelveli district The study concludes that the women entrepreneurship must be moulded properly with entrepreneurial traits and skills to meet the changes in trends challenges global markets and also be competent enough to sustain and strive for excellence in the entrepreneurial arena Article 1 Torch Burch Nov 18th 2013 experiences that women entrepreneurs see the world through a different lens and in turn do things differently Though the women are operating new businesses yet they face a huge equality gap In only seven countries Panama Thailand Ghana Ecuador Nigeria Mexico and Uganda women take part in business at rates equal to men s in some countries like Pakistan they rarely take part at all Even when women are active business owners they do not reach their potential When it comes to nance women face particular hurdles from a lack of collateral to discriminatory regulations and ingrained gender bias Financial institutions must do a better job of banking on women s potential by thinking creatively and forging partnershipsto give more women a shot at the resources that can enable them to start up or scale upNarrowing the gender gap in employment will increase global income per person 2 Tanima Banerjee March 11th 2012 in her article tried to analyze the position and space Indian women occupy today and comparing it to the times 60 years ago when the country had just gained independence Over the years women have made great strides in many areas with notable progress in reducing some gender gaps Yet realities such as girls are getting traf cked every year and increased practice of dowry rape and sexual harassment hit hard against all the development that has taken place As compared with past women in modern times have achieved a lot but in reality they have to still travel a long way and the men yet have to allow and accept the women to be equal participants in the country s way forward 3 SudhaMenon 2010 in this inspirational book follows the journey of some of India s most admired women achievers who have made a difference to society with their staller work and other pursuits that touch our lives in more ways than once This book vividly touches upon issues like what makes the woman professional achiever is there a level playing eld for women is there something males can learn from their female colleagues etc This book is a wellresearched effort to evaluate the achievements of leading women professionals 4 Tambunan Tulus 2009focused in his article mainly on women entrepreneurs in small and medium enterprises based on data analysis and review of recent key literature This study found that in Asian developing countries SMEs are gaining overwhelming importance more than 95 of all rms in all sectors on average per country The study also depicted the fact that representation of women entrepreneurs in this region is relatively low due to factors like low level of education lack of capital and cultural or religious constraints 5 TaariqMasood and Ahmad I M 2009suggested that education and wage rates signi cantly and positively determined urban women s labour force participation rate but not that of rural women Unemployment Rate signi cantly reduced the labour force participation rate in rural areas but not the urban while sex ratio signi cantly increased the participation rate in rural and urban areas Number of young children 04 years in the household negatively affected the participation rate for rural and urban areas Muslim Population and Scheduled CasteTribes were also signi cant determinants of Women s decision to participate in labour force 6 AlmazNegash Dec 2006 inthis study describes that in the majority of poor nations mothers not fathers have the most in uence on their children Mothers are the ones who dictate the decisions on whether or not children are sent to school what school they go to and how much time they spend working for the family Until women are given the same opportunities that men are entire societies will be destined to perform below their true potentials Thus concerted action to educate women give them equal access to credit and generally empower them are critical components in battling all of the abovementioned ills Societies governments and non governmental organizations around the world should come together and make a concentrated effort to empower and grant equality to women 7 SeemaGoswami 2002 in her book says that during the span of 50 years the status of women has undergone changes which expands the subcultural base of westemization in which the women by their very nature had family increasingly face pressure of ssion due to economic cultural and social reorientation of its function and obligations DOI 109790487Xl72206l3 wwwiosrjournalsorg 8 Page Women Entrepreneurship A Literature Review 8 GeetaKingdon s work 2001 work aimed to relate the effect of education with labour force participation rates and hence explain wage differential between men and women Findings suggested that when education level exceeds a certain threshold it starts determining an increase in labour force participation However education signi cantly improves the wage offered to women which is even higher than in case of men He also asserted that women in urban India faced high levels of wage discrimination 9 Lois Frankel 2000 says that the norms and lifestyle of women in contemporary India bear a deep impact of the changes in society its social structures and values The role played by these women has changed the economic social conditions and have largely contributed to the emergence of a new scale of values by which the women today perceive their aspiration for the future 10 According to MAminul Islam a woman of her ability can do everything if she desires to do so They are not only cooks they are now breadwinners as well The economic contribution of women through the magnitude of their unpaid labour is immense They have proved their mettle in various elds including higher education teaching politics sports medical as well as scienti c research information technology air and water peacekeeping missions nursing wartime agriculture construction business public and private job sectors policing journalism and many more elds But still women are becoming the victims of social vices like rape acid attacks sexual abuse and dowryrelated violence Until and unless women s unpaid work is recognized efforts towards building a gender balance in society cannot be achieved 11 AparijitaSinhadepicts the various problems which are faced by the women entrepreneurs om the starting to the functioning of the enterprise Some of the problems analysed in this article are over burden with family responsibilities like extra attention to husband children and in laws which take away a lots of their time and energy Male dominated society lack of proper education due to which women entrepreneurs remain in dark about the development of new technology new methods of production marketing and other governmental support which will encourage them to ourish Social barriers Shortage of raw materials Tough competition and Lack of selfcon denceDue to the corrupt government of cials there were procedural delays for various licenses electricity and water and shed allotments legal formalities have also become a major barrier for women entrepreneurs 12 Carol Roth in her article analyzed that entrepreneurship isn t a walk in the park for anyone and it can be even more challenging if you are of the female persuasion Even with all of the advancements that women have made in the business world there is still a long way to go before the success rate is level between male and female entrepreneurs Some of the top challenges that female entrepreneurs need to overcome in general in order for womanowned businesses to be more successful as a whole They are not being taken seriously letting fear stand in the way wanting to please everyone wearing too many hats not being able to Toot your own horn 13 ReenaKumari and AviralPandey tried to look at the extent of disparity in women work and labour force participation in urbanrural sectors and across the states of India It had been observed in developed southern states of India because of highly educated society and sincere freedom of women in decision making the women work participation in regular jobs is high in comparison to the northern states of India Thus the study concludes the facts that women participation in labour force has decreased after 1994 and disparity between male and female has been widened after an improvement in 200405 The reason behind this was low evolvement of rural women in attending schooling and high demand of female labour in agriculture sector 11 International Perspective Empirical Research Literature 1 LeylaSarfaraz NezameddinFaghih and ArmaghanAsadiMajd 2014 in their research analyses that the degree at which entrepreneurship affects the economy depends on numerous factors which includes the quality gender composition and type of entrepreneurial activity Gender equality and female entrepreneurship are key factors in economic development This paper investigates how genderrelated economic development and women entrepreneurial activity are related Theyshowed the relationship between genderrelated development indices introduced by the United Nations and different stages of women entrepreneurial activity created by Global Entrepreneurship Monitor GEM and suggested that female entrepreneurial activity is not signi cantly correlated with gender equality 2 Jennifer E Jennings Candida G Brush 2013 in this study the researchwas based on three main objectives The rst was to document the developmentof the work known as women s entrepreneurship researchThe second was to assess the contributions of this workand thirdwas to discussboth dif culties as well as opportunitiesfor scholarship on female entrepreneursAnother was that even though many women entrepreneurship researchhas ostensibly focused on topics similar to those studied by general entrepreneurshipscholars the collected work on female entrepreneurs demonstrated that entrepreneurship is a gendered phenomenonthat entrepreneurial activity is embedded in families and can result from necessityas well as opportunity and that entrepreneurs often pursue goals beyondeconomic gain DOI 109790487X 17220613 wwwiosrjournalsorg 9 Page Women Entrepreneurship A Literature Review 3 Ekesionye E N and Okolo A N 5 January 2012 examined women empowerment and participation in economicactivities as tools for selfreliance and development of the Nigerian society This study concludes that major economic activities recorded in werecrop farming trading craft and food processing hairdressing and poultry production These economicactivities were funded by women through personalsavings family philanthropists cooperative societiesloan and credits Lack of government supportcorruption cultural restrictionsfamily burden husband in uence and low levelof education were recorded as obstacles encountered bywomen in economic activitiesProvision of sustainable land tenure system soft loansand credits training and re training programmesestablishment of cooperative society would increase women participation in economic activities and societaldevelopment in Nigeria 4 Syed Shah Alam MohdFauziMohdJani Nor Asiah Omar May 2011 investigated the key factors which affects the success of women entrepreneurs in Southern region in Malaysia The results suggested that family support social ties and internal motivation affect positivelyand signi cantly to the success of women entrepreneurs in the small business It hadalso shown that in the past women rarely ventured into business not because of lack of interest but because o ack of opportunities A study donein the United Kingdom concluded that the gap between male and female entrepreneurs in the region was closing due to the wide opportunities which are being created all over the world for women entrepreneurs toopen up businesses 5 Tambunan Tulus 2009 focused mainly on women entrepreneurs in small and medium enterprises based on data analysis and review of recent key literature This study found that in Asian developing countries SMEs are gaining overwhelming importance more than 95 of all rms in all sectors on average per country The study also depicted the fact that representation of women entrepreneurs in this region is relatively low due to factors like low level of education lack of capital and cultural or religious constraints and most of the women entrepreneurs in SMEs are from the category of forced entrepreneurs seeking for better family incomes 6 Darrene Harpel and Mayer 2008 performed a study on nding the relationship between elements of human capital and self employment among women The study showed that self employed women differ on most human capital variable as compared to the salary and wage earning women and the fact that the education attainment level is faster for self employed women than that for other working women The percentage of occupancy of managerial job is found to be comparatively higher in case of self employed women as compared to other working women Self employed men and women differ little in education experience and preparedness However the main difference lies in occupational and industry experience The percentage of population holding management occupation is lower for self employed women as compared to self employed men Also the participation levels of self employed women arefound to be less than of self employed men in industries like communication transportation wholesale trade manufacturing and construction 7 Debra Efroymson BuddhadebBiswas and ShakilaRuma September 2007 in their research attempted toquantifywhat work women do and the amount of time they spendworking estimate the economic value of that work andthereby assess the contributions women make to the country ssocial development through their unpaid workThis study concludes that women are involved in atremendous amount of work that has signi cant value tofamily society and the nation Men are able to engage inpaid labor because of all the work that women do in thehome cleaning the home washing clothes preparing foodwashing dishes and engaging in all the tasks involved inbearing and raising children 8 C Mirjam van Praag Peter H Versloot August 2007 examined the claim that entrepreneurship has important economic valueHence a systematic review provided the answers to the question What is the contribution ofentrepreneurs to the economy in comparison to nonentrepreneurs In this study the relativecontribution of entrepreneurs to the economy based on four measures that had been studied empirically are i employment generation and dynamics ii innovation and iiiproductivity and growth relative to the contributions of the entrepreneurs counterparts iethe control group iv the role of entrepreneurship in increasing individuals utility levels This study concluded that entrepreneurs have a very important and speci c function in the economy They engender relatively much employment creation productivity growth and produce and commercialize high quality innovations However women cannot be neglected as they account for a relatively high value of GDP a less volatile and more secure labor market higher paid jobs and a greater number of innovations and they have a more active role in the adoption of innovations 9 Women s Entrepreneurship Issues And Policies Promoting Entrepreneurship And Innovative SMEs In A Global Economy Towards A More Responsible And Inclusive Globalization June 2004 The report depicts that women entrepreneurs play an important role in the entrepreneurial economy both in their ability to create jobs for themselves and to create jobs for others Speci c obstacles to women s entrepreneurship speci ed in this study were type of education lack of role models in entrepreneurship gendering of entrepreneurship weak social status competing demands on time and access to nance This report suggests the by improving the position of women in society and promoting entrepreneurship will 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 DOI 109790487X 17220613 wwwiosrjournalsorg 10 Page Women Entrepreneurship A Literature Review 10 Tanzanian Women Entrepreneurs Going for Growth April 2003 the objective of this research study was to understand the processes and critical factors for women in developing small enterprises including formalizing them The study examined the incidence of upward mobility and strategies adopted by women who experienced upward mobility as well as the role of the external environment in this process This study found that the women entrepreneurs were engaged in business for the motive of creating employment for themselves supplementing income meeting household needs and many others They have to receive technical and business management training to support their business system Genderrelated problems include women entrepreneurs being subjected to pressure to offer sexual favours to corrupt government of cials lack of property rights over assets which could be pledged as collateral lack of con dence in women by bank of cers discouragement from men when starting or formalising businesses and inadequate management cover during maternity leave Women entrepreneurs have started overcoming these obstacles through effective strategies for the success of their business 11 Glen Cain s l966main research ndings were the following Higher unemployment negatively affected women s labour force participation rate Though statistics proved that wives of unemployed men were more likely to be in the labour force to support family income than those of employed menHe also analysedthat wage was not as strong a positive determinant of women s choice to join the labour force However wage was still a stronger determinant in comparison to the proportion of wife s earnings in family income which itself affects the participation rate in anegative manner Other important determinants were market wage rate for other family members and number of young children in the household which negatively affected women s decision to join the labour force 12 TasnimKausaris concerned with women contribution in family budget The typology of work in informal sector varies from region to region They concluded that women involved in ladies dressmaking are comparatively in higher ratio and contributing more The ladies dressmaking is a traditional profession of informally employed women of BahawalpurThere exists also a positive relationship between the contribution of women and unemployed husbands presence of infants in the household the utilization of loan by household and urban locality The determinants of contribution are different for urban and rural areas This study suggests government to intervene for education of informal sector women provision of assets and loan health facilities by public sector and implementation of minimum wage legislation in informal sector 13 Muhammad Usama Anwar Dr Amber Gul Rashidlooked at the literature around female entrepreneurs focusing on female entrepreneurship in the developing world and more speci cally in Pakistan This study hoped in understandingfemale entrepreneurs especially with respect to motivations constraints and consequences The war on terror economic recession and oods along with lack of access to nance technological constraints environmental and societal issues insuf cient supply of labor and tax policies are fueling an unfriendly environment in which female entrepreneurs are nding it dif cult to succeed despite having clear motivations and goals This study showed that overall entrepreneurial activity is pretty low in Pakistan and female entrepreneurship activity rate is even lower 343 14 The members of the Pricewaterhouse Cooper Genesis Park Program in their report tried to provide perspectives and insight from working women in Brazil China France Germany India Spain Sweden and the US in respect of the socioeconomic enablers of and barriers to women s economic participation in those countries It also analyzed the countryspeci c organizational and governmental interventions to reduce the gender gap and increase female economic participation in those eight countries This study found that cultural stereotypes and perceptions represented greater barriers to full economic participation by women than in many of the developing countries It was also observed that government has been a more active and effective force in promoting gender diversity than business has and legislative responses had a more positive impact on women s economic participation than responses by the private sector had Article 1 Hemple2000 in her book says that the contributors explore the general situation of women in the work world by using speci c examples from the wide range of occupational roles Illuminating and documenting the signi cant factors that in uence the development and the frustration of professional woman they explore the speci c problems that confront her at life cycle problems such as the effects of childhood socialization and the marriagecareer syndrome 2 Goetz and Sen Gupta 1996 shows that only a minority of women receiving credit from poverty oriented micro nance programs are controlling their loans Many women are merely passing on the full amount of their loans directly to their husbands sons or sonsinlaw with little or no access to the income generated and receiving back only enough money to make weekly loan repayments He found that on average only 37 per cent of loans provided by four different Bangladeshi credit organizations were either fully or signi cantly controlled by women where signi cant control does not include control over marketing and may thus imply DOI 109790487X 17220613 wwwiosrjournalsorg 1 1 Page Women Entrepreneurship A Literature Review little control over the income generated The gures for BRAC were even lower with only 28 per cent of loans controlled by women 3 Ackerly 1995 noted that underpinning most credit interventions in Bangladesh wasan implicit model of the empowered woman and concluded that women39s access to themarket was the primary route for their empowerment knowledge which comesthrough market access and warned against the likelihood of overwork fatigue andmalnutrition were loans used to promote women39s labour involvement without alsopromoting their market access 4 Athena Theodore 1971 says that woman has different professional s trends and prospects about her marriage career cultural and social changes She dissolves the haze and brings together for the rst time in once volume important research and observation on what it really means to be a woman developing an identity in the world of work 5 Montgomery and Hulme 1996 found that only 9 of firsttime female borrowers were primary managers of loanfunded activities while 87 described their role in terms of family partnerships But 33 of rsttime male borrowers had sole authority over the loanassisted activity while 56 described it as a family partnership They also found that access to loans did little to change the management of cash within the household for either female or male loanees Interpreting reports of joint management as disguised male dominance in decisionmaking the authors concluded that access to loans had done little to empower women 6 Gary Becker s 1965 traced the importance of understanding how individuals allocate time to work amp nonwork activities and the relative costs associated with it that is the cost of any activity should incorporate the amount of time forgone in undertaking it because that time could have been used more productively This allowed Becker to introduce a concept of full income which was a combination of money income and the optimal usage of time considering its cost in terms of foregone value This theory can be implied to how women makelabour force participation decisions considering the wage obtained contribution to family wealthresponsibility of taking care of young children etc 7 MaahirVirani in his essay demonstrates the history of women with unique leadership capabilities for example Razia Sultana Rani of Jhansi Sarojini Naidu and Indira GandhiMost women were able to demonstrate the leadership quality only on their home fronts as in Indian society man has always acted as the masters Though some women have shown their mettle therefore empowerment of women is the prerequisite to transform a developing country into a developed countryEducational attainment and economic participation is also the key constituents in ensuring the empowerment of women In India women are showing steady improvement in professional institutes health and nontraditional sectors like police defense administration media and research elds This essay concludes that it is a wakeup call for women to awake from their deep slumber and understand the true meaning of their empowerment 111 Conclusion The purpose of this paper was to look at the literature around women entrepreneurship in general Lack of access to nance technological constraints environmental and societal issues insuf cient supply of labour and tax policies are providing a restrictive environment in which women entrepreneurs are nding it dif cult to succeed despite having clear motivations and goals The authors have mentioned the need of training as well as nancial assistance to the women entrepreneurs can motivate Indian women to hold the major share in the GDP of the country The long term developmental strategy of a country is incomplete without giving adequate thought to this sector and obtaining adequate information about them before making policy decisions References 1 Athena Theodore 1971 The professional Woman Schenkman publishing company Inc Cambridge MassachusettshttpwwwabebookscoukProfessiona1WomanTheodoreAthenaEditorSchenkman284635780bd 2 AparijitaSinha What are the problems faced by Women Entrepreneur in India httpwwwpreservearticlescom20l 101 153 3 66problems facedbywomenentrepreneurhtml 3 Ackerly B A 1995 Testing the tools of development credit programmes loaninvolvement and women39s empowerment IDS Bulletin263 4 AlmazNegashDecember 2006 Economic Empowerment of Women httpwwwscueduethicspracticingfocusareasgloba1ethicseconomicempowermenthtml 5 Anita TripathyLalNovember 15 2012 Women Entrepreneurs in India Over the Years Fore School of Management 6 Binitha V Thampi January 2007 A thesis on Economic Roles of Women and its Impact on Child Health and Care A Study in Kerala 7 Cohoon Wadhwaamp Mitchell2010 The Anatomy of an Entrepreneur Are Successful Women Entrepreneur Different From Men Kauffman The foundation of entrepreneurship 8 Carol Roth Entrepreneurship 5 Challenges facing Women Entrepreneurs 9 C Mirjam van Praag Peter H Versloot August 2007 What Is the Value of Entrepreneurship 10 Dr Sunil Deshpandeamp Ms SunitaSethi Shodh SamikshaaurMulyankanOctNov2009 Women Entrepreneurship In India Problems Solutions amp Future Prospects of Development lnternational Research Joumal ISSN09742832 Vol II Issue910 Research Paper Commerce amp Management DOI 109790487X 17220613 wwwiosrjournalsorg 12 Page Women Entrepreneurship A Literature Review 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 49 50 Debra Efroymson BuddhadebBiswas and ShakilaRuma September 2007 The Economic Contribution of Women in Bangladesh Through their Unpaid Labor Analysis and report writingWBB Trust HealthBridgeDhaka Ekesionye E N and Okolo A N5 January 2012 Women empowerment and participation in economic activities Indispensable tools for selfreliance and development of Nigerian society Department of Educational Foundations Faculty of Education University of Nigeria Nsukka Nigeria Educational Research and Review Vol 71 pp 1018 Goetz A M and Sen Gupta R 1996 Who takes the credit Gender power andcontrol over loan use in rural credit programs in Bangladesh WorldDevelopment 24 1 GurendraNathBhardwaj Swati Parashar Dr BabitaPandey and PuspamitaSahu Women Entrepreneurship in India Opportunitiesand Challenges www chimc involume2 1volume2issue1gurendranathbhardwaj pdf G Palaniappan C S Ramanigopal A Mani19 March 2012 A Study On Problem And Prospects Of Women Entrepreneurs With Special Reference To Erode District International journal of physical and social sciences volume 2 issue 3 issn 22495 894 Gary Becker s 1965 A Theory of the Allocation of Time Economic Journal 75493517 Glen Cain s 1966 Married Women in the Labour Force an Economic Analysis University of Chicago Press Chicago GeetaKingdon s work 2001 Education and Labour Market Outcomes in India Education Economics 92 174195 Hackler Darrene Harpel Ellen and Mayer Heike 2008 Human Capital and Women s Business Ownership Arlington Of ce of Advocacy US Small Business Administration August 2006 VA 22201 74 No 323 Hemple 2000 Women in corporate world Bookwell Toronto Jacob Mincer s 1962 Labour Force Participation of Married Women A study of Labour supply Aspects of Labour Economics Princeton NJ National Bureau of Economic Research Princeton University Press Jennifer E Jennings University of AlbertaSchool Of Business 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