Assignment Code: MGSE-010 / AST-01 / TMA / 2022-23

Course Code: MGSE-010

Assignment Name: Gender and Entrepreneurship Development

Year: 2022 - 2023

Verification Status: Verified by Professor

PART- A

Write Short notes on the following in 200 words each. (10 x 4 = 40 marks)

Q 1. Women Entrepreneurship

Ans) Women entrepreneurship refers to the process of starting and managing a business by a woman. Women entrepreneurs are an important part of the global economy and play a vital role in creating jobs, contributing to economic growth, and promoting social development. Entrepreneurship is the key to a country's economic growth, and people who start their own businesses are called "wealth creators." In almost every country, the number of businesses owned by women is going up. As people have become more aware of women's roles and economic status in society, their hidden business skills have slowly been coming out. Most women start businesses because they are skilled, knowledgeable, and flexible in business.

A woman entrepreneur is someone who takes on a difficult job so she can meet her own needs and become financially independent. Entrepreneurial women have a strong desire to do something good and useful, and they are able to add value to both their family and their community. Challenges and opportunities for women in the digital age are growing so quickly that people who were looking for work are now making their own jobs. They are doing well as designers, interior decorators, exporters, publishers, and clothing makers, and they are still looking for new ways to make money. Economic, social, religious, cultural, and psychological factors affect the number of women entrepreneurs in a culture. Women entrepreneurship is a burgeoning field that can promote gender equality, economic growth, and social development. We can create a more equal and prosperous future by addressing women entrepreneurs' problems and supporting their business growth.

Q 2. Cluster Entrepreneurship

Ans) Cluster entrepreneurship refers to the development of a group of interconnected and interdependent businesses in a specific geographic location. These businesses are usually related to a particular industry or sector, and they benefit from being located in close proximity to one another. Cluster entrepreneurship can provide a range of benefits to businesses, including access to specialized suppliers, a larger pool of skilled labour, shared marketing and distribution channels, and opportunities for collaboration and innovation. By working together, businesses in a cluster can also create a stronger voice in the marketplace and attract more investment and support.

Successful cluster entrepreneurship is often the result of a combination of factors, including government policies and support, the presence of a skilled workforce and specialized infrastructure, and a strong network of suppliers and other industry players. Collaboration and innovation are also important factors that can contribute to the success of a cluster. Despite the many benefits of cluster entrepreneurship, there are also challenges that must be addressed, including competition among businesses in the same cluster, a lack of diversity in the types of businesses within a cluster, and the risk of over-reliance on a single industry or sector. Cluster entrepreneurship fosters innovation, collaboration, and economic progress in a region. Cluster entrepreneurship leverages the characteristics of a particular industry or sector and creates a network of interconnected enterprises to benefit businesses and boost regional economic development.

Q 3. Indians (female) in international ventures (MIS)

Ans) Indian women are increasingly making their mark in the global business world, including in the field of management information systems (MIS). Indians are making headway in international entrepreneurship in many countries in the last two decades partly due to information technology has given a boost in this direction. IT ventures need less capital and results are seen faster. IT companies need in-depth knowledge of IT processes in the industry and management skills. Indian entrepreneurs have made a mark in this area in USA.

Some examples of international entrepreneurship are as follows:

1. Co-Founder of Sun Micro Systems in Vinod Khosla in USA.

2. Creator of Pentium Chip in Vinod Dahm in USA.

3. Founder and Creator of Hostmail is Sabeer Bhatia in USA.

4. Lord Swraj Paul established Caparo Group in UK. The group has large interests in steel companies in many countries.

5. Many software companies are started in USA and UK by Indian entrepreneurs For example two young software entrepreneurs recently made a headline for their entrepreneurial work in camera phone.

6. JK group is in Australia for manufacturing and marketing of health care products.

7. Aravind mills Denim Plant is in south America and Mauritius,

8. Vendanda group of Anil Agarwal has purchased BALCO in Korba in Copper Mines in Australia.

As the global economy continues to grow and evolve, there is likely to be increased demand for skilled professionals in the field of MIS. Indian women are well-positioned to take advantage of these opportunities, given their strong educational backgrounds and experience in the field.

Q 4. Business Development Service (BDS) Providers

Ans) Business Development Service (BDS) providers are organizations that offer a range of services to help small and medium-sized enterprises (SMEs) grow and succeed. These providers can be government agencies, non-governmental organizations (NGOs), private companies, or consultants. The services they offer include training and coaching, market research, business planning, access to finance, and networking opportunities. Women in business should be offered soft loans and subsidies. Financial institutions should provide more working capital assistance to women headed MSMEs. BDS Providers should make provision of micro credit system for women-led enterprises at the local level. The weaker section could raise funds through various schemes and incentives provided by the government to develop entrepreneurs in the state.

There should be all-Indian forums for women business owners to talk about problems and issues they face in their businesses. There are a lot of Women Entrepreneurs' forums at the state level. These forums could be put together and turned into forums for all of India. Local non-government organisations (NGOs) and government workers may encourage women entrepreneurs to sign up for any of these forums to get the help they need. Forums could keep women entrepreneurs up to date on government programmes and policies, as well as those of banks and other financial institutions. Such forums should make decisions that help women entrepreneurs and take a strong stand against any policy or measure that gets in the way of women getting economic power and starting their own businesses. Overall, BDS providers can be powerful agents of change, helping SMEs overcome barriers to growth and contributing to the economic development of their communities.

PART- B

Answer any two of the questions given below in 1000 words each. (30 x 2 = 60 marks)

Q 1. Discuss entry obstacles to women's entrepreneurship.

Ans) Because women have different needs than men, they start businesses with different goals and priorities. Women still have the most responsibility for their families and children, which makes it harder for them to be flexible with how they spend their time every day. So, they are more likely to start a business from home. There are different ways to group the things that make it hard for women to start their own businesses:

1. General obstacles to women engaged in entrepreneurship (opportunity recognition and

2. Willingness to start business)

3. Specific obstacles to start (assembling necessary information, financial and human resources to start)

4. Specific obstacles to managing a small firm

5. Specific obstacles for growth of firm

6. External finance and gender discrimination.

A woman may be considered an entrepreneur if she has started a business by herself, with other women, with someone in a family business or partnership, or with someone who is a shareholder and manager in a company.

There are three different stages of being an entrepreneur that can be used to figure out the specific problems and problems that women face:

1. Participation in the job market, family responsibilities, beliefs about men and women, and the political and ideological context

2. Setting up the new business (growth goals, acquiring resources, and choosing an industry).

3. The early growth of the new company (profitability, growth in sales and employment and survival).

From the point of view of a woman entrepreneur, these three stages can be looked at to see if there are differences between men and women entrepreneurs, where those differences are, and what those differences mean for economic growth.

Women entrepreneurs confront various entry barriers. These are:

1. Lack of access to capital: Women entrepreneurs often face difficulty in obtaining capital to start or grow their businesses. Studies have shown that women-owned businesses are less likely to receive funding from investors or venture capitalists, and they also tend to receive lower loan amounts and pay higher interest rates on loans than male-owned businesses.

2. Societal and cultural biases: Women entrepreneurs may face biases and stereotypes that suggest they are less competent or less committed to their businesses than men. Such stereotypes can influence funding decisions, as well as the level of support and resources women receive from business networks and communities.

3. Limited access to networks: Many successful entrepreneurs rely on networking to build relationships, find investors, and access resources. However, women may have more limited access to networks due to traditional gender roles and expectations, such as caregiving responsibilities that limit their time to attend networking events or participate in business activities.

4. Lack of mentors and role models: Women entrepreneurs may lack role models and mentors who can guide them in their entrepreneurial journey, as there are still fewer women in leadership positions in many industries.

5. Balancing work and family: Women are often primary caregivers in their families, which can make it challenging to balance their responsibilities at home with the demands of entrepreneurship. This can limit the time and resources they have available to devote to their businesses.

6. Legal and regulatory obstacles: In some countries, laws and regulations may make it difficult for women to start or grow businesses. These may include restrictions on property ownership, limited access to credit, and other legal or regulatory barriers that disproportionately affect women.

Overall, the obstacles to women's entrepreneurship are complex and multifaceted. Addressing them will require a concerted effort from policymakers, business leaders, and society as a whole to create a more equitable and inclusive environment for women entrepreneurs to thrive.

Some social, economic, and personal factors that affect why women become entrepreneurs:

1. The knowledge and resources needed to start and run a new business are rooted in culture and history.

2. Different environments have different kinds of knowledge and resources. Because men and women are in different places in society and have different access to resources and knowledge, women start and run businesses in different ways than men do. In general, women have less access to resources and less knowledge than men. In many countries, women also have a lower social status than men. It seems like these differences are hard to change over time.

The theoretical framework of entrepreneurship is based on an Austrian-economic model of entrepreneurship. This model identifies the historically and culturally determined framework conditions (demand side) that affect entrepreneurship, as well as the unique experiences of enterprising and potentially enterprising people (supply side). Entrepreneurship is defined here as the study of where opportunities come from, how to find them, how to use them, and what effects they have on the economy. Together, these four parts make up the entrepreneurial process and provide a general model for understanding how women get into self-employment and business, how they take advantage of opportunities, and what effect this has on the economy.

The model is based on the idea that changes in demand conditions, such as technological, market, demographic, political, institutional, and cultural changes, create opportunities that aren't obvious to everyone but are found and used by a small number of people. Some people are better at finding certain opportunities than others. These people have this advantage because they have access to information and resources that are unique to them. This advantage comes from their past experiences and their position in social networks. Women have different needs than men, and they start businesses with different goals and priorities. Women still have most of the family and childcare responsibilities, which means they have less flexibility in their day-to-day time management. Because of this, they are more likely to start a home-based business or a part-time business. To solve this problem, it's important to make successful women entrepreneurs more well-known and to set up mentorship and advice programmes for women only. This could mean making programmes that connect experienced women entrepreneurs with women who want to start their own businesses, bringing attention to successful women entrepreneurs through the media and outreach programmes, and giving women entrepreneurs their own networks and support groups.

Q 2. Discuss the need for Public-Private Partnership (PPP) in promoting women's entrepreneurship.

Ans) The formation of public-private partnerships, sometimes known as PPPs, has become an important tool in many parts of the world for fostering both economic growth and social advancement. In order to accomplish predetermined objectives, public-private partnerships (PPPs) bring together the knowledge and assets of both the public and private sectors. PPPs have the potential to be an effective instrument for fostering the growth of women-owned businesses.

Enhanced Access to Financing

Increased access to funding is one of the key benefits that public-private partnerships bring to the table when it comes to fostering female entrepreneurship. There are a variety of reasons, such as gender bias, a lack of collateral, and limited networks, that make it far more difficult for female entrepreneurs to have access to financial resources. PPPs have the potential to contribute to the solution of these problems by giving female business owners access to a wider variety of financing alternatives, which may include money from both the public and private sectors. PPPs can be financed through a variety of sources, such as grants, loans, equity investments, and technical support. These mechanisms can be adapted to meet the unique requirements of female company owners, and they can be used to provide support for a diverse array of business operations, such as starting a business, growing an existing one, or expanding into new markets. PPPs have the potential to help unleash the potential of female entrepreneurs, stimulate economic growth, and drive job creation all at the same time by improving access to funding.

Improved Policy Environment

In addition, public-private partnerships (PPPs) have the potential to be an efficient method for enhancing the policy environment for female entrepreneurs. Tax breaks, procurement advantages, and business development services are a few examples of the kind of laws and regulations that governments and the private sector can work together to implement in order to encourage and promote the entrepreneurial endeavours of women. PPPs are able to contribute to the development of policies that are sensitive to the requirements of female entrepreneurs and that create an environment that is more supportive of business endeavours because they bring together the knowledge of both the public and private sectors. In addition to this, public-private partnerships (PPPs) can be used to strengthen the capabilities of governmental organisations to encourage and assist the entrepreneurial endeavours of women. For instance, companies in the private sector have the ability to offer advisory services and training to government agencies that are tasked with fostering an entrepreneurial environment for women. This can help these organisations expand their capabilities and become more effective in their mission to foster an entrepreneurial environment for women.

Increased Business Development Services

Increased access to company development services is yet another advantage that comes with the promotion of female entrepreneurship through PPPs. Women who want to create their own businesses frequently lack the information and skills necessary to launch and maintain profitable enterprises. PPPs can contribute to the solution of this problem by giving female company owners access to a wide variety of services for the development of their companies. These services can include training, mentoring, and opportunity to network with other business owners. In order to create and provide these services, companies from the private sector might collaborate with government agencies and groups that are not for profit. It is possible that this will help to ensure that female business owners have access to high-quality business development services that are specifically geared toward meeting their requirements. PPPs can help to unlock the potential of women business owners and boost the growth of their companies if they focus on enhancing the skills and expertise of women company owners.

Enhanced Access to Markets

PPPs have the potential to be a useful instrument for increasing the access that female entrepreneurs have to markets. There are a variety of factors, such as gender bias, limited networks, and a lack of information, that frequently make it difficult for female entrepreneurs to gain access to markets. PPPs can contribute to the solution of these problems by connecting female entrepreneurs with businesses in the private sector and by easing the access that these entrepreneurs have to markets. PPPs can, for instance, assist in the creation of supply chains that link female entrepreneurs with customers from the private sector, or they can support the establishment of marketplaces and e-commerce platforms that allow female entrepreneurs to sell their goods and services to a larger audience. PPPs have the potential to contribute to the development of new business possibilities and the acceleration of economic growth. This can be accomplished by facilitating easier access to markets for female entrepreneurs.

Improved Collaboration and Innovation

In conclusion, public-private partnerships (PPPs) have the potential to be an effective method for fostering collaboration and innovation in the field of women's entrepreneurship. Public-private partnerships (PPPs) have the potential to open up new avenues for collaboration and innovation since they pool the knowledge and resources of both the public and private sectors. This may serve to promote the development of new business models, products, and services that are geared specifically for the requirements of women company owners. For example, PPPs can bring together entrepreneurs, investors, and experts in the field to come up with new ways to help women entrepreneurs deal with problems they face. PPPs can help create a more dynamic and helpful environment for women entrepreneurs by encouraging collaboration and new ideas.

Conclusion

Finally, Public-Private Partnerships (PPPs) can help women start businesses. PPPs can improve policy, financing, company development services, markets, collaboration, and new ideas. Public-private partnerships (PPPs) can provide new economic possibilities for women, boost the economy, and improve society by merging public and private resources. Governments, commercial companies, and non-profits should collaborate on PPPs for women entrepreneurs. This will help women start enterprises, realise their potential, and promote gender equality and economic progress for everyone.