Indian Women Enteprenuership (Essay Sample)

ASSIGNMENT 2 LITERATURE REVIEW SHAHNAZ HUSAIN
Management of Innovation and Entrepreneurship
Women in Entrepreneurship: Indian Women & the Entrepreneurial Journey
Amarjeet Singh Balloo
Student ID:4513083
Introduction:
Stevenson H. H, (1990) defines Entrepreneurship as the process by which individuals pursue opportunities without regard to the resources they currently control. A very apt definition relates to Shahnaz Hussain, who pursued and envisioned opportunities where the other shrewd businesspersons overlooked them.
Peter F Drucker gives Another definition which defines Shahnaz Husain very accurately. He defines both Entrepreneur and Entrepreneurship in the following words," The entrepreneur always searches for change, respond to it, and exploits an opportunity”.
Shahnaz Hussain
Born in Lucknow, India,
India Designation: - Founder and COE of Shahnaz Herbals
Country of Citizenship: - India
Occupation”- Businesswomen
Industry: - Herbal cosmetics (skin care)
What is an Entrepreneur and what makes an Entrepreneur?
An entrepreneur is a person who starts an enterprise and searches for change and responds to it. In other words, a business person is somebody who sees opportunity, sorts out assets required to establish a business. PCs, cell telephones, clothes washers, ATMs, Credit Cards, Courier Service, and Ready to Eat Foods are all illustrations of entrepreneurial thoughts that got changed over into items or administrations
The word entrepreneur comes from 17th French entrepreneur, refers to individuals who were "undertakers" particularly the leader of military operations (Friday and Utim, 2013). The origin of the primary word ‘entrepreneurship’ is from a French word "Entree”. Which means ‘To entering and "Prendre" "to take" and it applies to any person who is beginning a new project or trying a new opportunity. Later, it was used to denote other types of adventures in civil engineering like the construction of roads, bridges, harbors’, etc. It was since the 18th century that the term entrepreneur came to be used, specifically after the industrial revolution.
A woman entrepreneur is a lady or a group of women who initiate, organize and operate a business enterprise.
Definitions of an entrepreneur.
Drucker P.F. (1985) defines an entrepreneur as one who always searches for a change, responds to it and adventures it as an opportunity. An entrepreneur innovates. Innovation is a specific instrument of success available to innovators.
Richard Cantillon: "Entrepreneur is the agent who buys means of production at a certain price to combine them into a product. That product is going to sell at prices that are uncertain at the moment at which he commits himself to the costs.”
Joseph. A .Scum Peter. Defines an entrepreneur as an individual who innovates, raises money, assembles inputs, chooses managers and sets the organization going. He uses his ability to identify opportunities that others are not able to discover and make use of them.
Hence, an entrepreneur can be defined as an individual who recognizes the opportunities in his environment and responds to opportunities in an innovative way. So he/she as to make economic surplus by engaging himself efficiently, exploiting the environment and the opportunities it offers Roth, S. (2014.
So we can say that an ENTREPRENEUR:
It Is an innovative person who develops and owns his enterprise. He/she reflects strong urge to be independent and persistently tries to do something better. An entrepreneur gets dissatisfied with routine activities, therefore, he/she a moderate risk taker and works under uncertainty for achieving the goal. Entrepreneurs also are prepared to withstand the hard life, determined but patient, exhibits a strong sense of leadership, sense of competitiveness and very responsible. They are future-oriented and powered to persist in the face to adversity and ability to convert a situation into an opportunity.
Traits of personality of women entrepreneurs:
Creative business people are Opportunity seekers, creators, flexible, internal control, self-confident and pragmatic Shane, S. (2000). All these above characteristics, qualities and attributes are reflected, inculcated and shown time and again by Shahnaz Husain. She is a woman Entrepreneur par excellence, The CEO and Founder of Shahnaz Herbals Inc., one of the most renown cosmetics industry in India and globally.
Factors affecting women entrepreneurship:
Women are playing an important role in developing the country economy. As compared to other countries, the development of women enterprise is very low in India (Devi and Renuka, 2011). As compared to rural areas progress is seen in upper-class families. In 2001, India announced National Policy for Empowerment of women. Shahnaz Husain became the role model for Indian women. Consequently, Indian women influenced by her saw entrepreneurship as the need for better income, desire for better life, the need for recognition and the balance between business and family life. There are many factors such as flexibility, the motto of achievement, implementation of innovation and for making bright career attracted women’s in business.
Economic need: Most of the women in India are from low income and low education group. They want to start enterprise to support the family and to boost the economy of India (Lal et al. 2011). In 1978, Industrial Policy Resolution was recognised women entrepreneurs as a select group who needs assistance and support from the government to start own business.
Financially Independent: Women in India are getting higher educations these days as compared to last ten years. Women’s want to create self-identity, self-respect, and status in the business society.
Continuing family business: Women from the family business background are helping their family business. A good example is Shahnaz Husain daughter who runs her mother’s business.
Challenges faced by Women Entrepreneurs in India:
Family support: Despite the fact women have demonstrated themselves to be capable of performing at high levels; they still encounter resistance as entrepreneurs from family, relatives and friends. These acts as an obstacle to their creativity Lemmon, G. (2012).
Risk-taking ability: Taking the risk of failure and success is a very real possibility in any business venture, but, failure should not be a negative thing to an entrepreneur. You need to have a massive failure to have tremendous success. You may need 100 'no's' to get a single 'yes,' but that one 'yes' will make you more prosperous tomorrow than you were today.
Society and women empowerment: Society in India still dominates women’s in business. Indians still thinks male are always boss. There aren't plenty women to be role models, act as sounding boards and do business with or to form normalcy for women in leadership positions.Despite the quickly growing number of female executives and business owners, finding fellow women entrepreneurs to connect with isn't always easy. Women-focused networking events are excellent places to start, as well as online forums and groups specifically created for women in business.
Occupation-life balance. It is often a goal of entrepreneurs across the board, but mothers who start businesses have to run their families, and their commerce ate the same time. Being a mother while running a business is very challenging. There are means to balance your time, but the insight is that you could be more operative running your business if you did not have to deal with kids Johnson, D. P. M. (2005).
Competition: Advanced technologies and strategies in the companies put women enterprises in the struggle to survive in the business industry.
Experience and training: Women try new business on a trial basis.
Complex process: Complicated legal formalities and a long time to complete the procedure of starting the company it becomes discourage to women.
Literacy: Lack of women in higher education restricts women to running a business successfully (Singh, 2013).
What makes Shahnaz Husain an Entrepreneur (Characteristics)
Some pillars make firm strengths of Shahnaz as a great woman entrepreneur. First she has incorporated Creativity as that spark that drives the development of her herbal products or services or ways to do business. It is the push for creativity and improvement. In her working life, she has been continuously learning the company and competitors, questioning consumers and relevant people, and thinking outside of the normally prescribed formulas.
Secondly, she is driven with Determination, an incredibly high desire to achieve success. It has kept her persistence and the ability to bounce back after rough times. By this, she is being persuades to make the right decision. For the real entrepreneur, money is not the motivation. Success is the motivator; money is the reward (Stevenson H. and Harmeling S., 1990). This is quite right for Shahnaz Husain.
Thirdly, Shahnaz Husain used flexibility to change and to adapt to a new environment in innovating herbal cosmetics. Flexibility can either be adaptive - when challenges are existing in the environment - or spontaneous - a preference for transformation without any external pressure. Change and adaptation are also essential elements of innovation in response to changing market needs.
Dedication is what motivates the entrepreneur to be hardworking, planning and ideas must be joined by hard work to succeed. Commitments and dedications makes it happen. She dedicated her most of the time in business.
Leadership is the ability to generate guidelines and to set goals. It is the capability to follow through to see that rules are well followed, and objectives are accomplished.
Passion is...