Assignment Code: MGSE-010/AST-01/TMA/2023-24

Course Code: MGSE-010

Assignment Name: Gender and Entrepreneurship Development

Year: 2023-24

Verification Status: Verified by Professor

PART- A

Answer the following in 200 words each.

Q1) Define Entrepreneurship. Discuss the nature and characteristics of Individual entrepreneurship.

Ans) Entrepreneurship involves starting, running, and profiting from a business. Entrepreneurs risk founding and running a business and are frequently creative, innovative, and open to new ideas.

Nature and Characteristics of Individual Entrepreneurship:

a) Innovation: Individual entrepreneurs often launch new products, services, or concepts. Innovation and value creation are hallmarks of entrepreneurs.

b) Risk-taking: Entrepreneurs take calculated risks. They accept business risks and problems with resilience.

c) Independence: Entrepreneurs make their own judgments and steer their businesses. They can follow their vision and ambitions with autonomy.

d) Vision and Passion: Successful entrepreneurs have a company vision. Work passion drives them to overcome hurdles and continue.

e) Adaptability: Entrepreneurs must adapt to a changing business environment. They adapt quickly to market, technology, and consumer developments.

f) Responsibility: Entrepreneurs take on significant responsibility for the success or failure of their ventures. This responsibility includes financial management, strategic planning, and leadership.

g) Resourcefulness: Resourceful entrepreneurs use resources efficiently. They usually start small and grow as the business does.

h) Customer Focus: Understanding customer needs and preferences is crucial for individual entrepreneurs. They strive to create products or services that meet market demands and build customer loyalty.

i) Persistence: Business success needs persistence. Entrepreneurs persevere despite setbacks due of their determination and resilience.

j) Continuous Learning: Successful entrepreneurs are lifelong learners. They research industry trends, learn, and adapt to be competitive.

Q2) What is Public Private Partnership (PPP)? How will Public Private Partnership (PPP) help in developing women’s entrepreneurship? Explain.

Ans) Public-Private Partnerships are partnerships between government agencies and private companies to deliver public services or infrastructure projects. Both sectors share obligations, risks, and gains in PPPs to achieve goals.

Role of PPP in Developing Women’s Entrepreneurship:

a) Access to Resources: Women entrepreneurs can access funding, technology, and mentorship via PPPs. Women-led businesses may benefit from public-private collaborations that provide funding and expertise.

b) Skill Development: Women entrepreneurs can receive training and skills through PPPs.This improves women-led businesses' creativity and competitiveness.

c) Market Opportunities: Women entrepreneurs can reach markets through PPPs with private enterprises. This exposure to more marketplaces gives women customers and opportunities.

d) Infrastructure Support: PPPs can provide shared offices, technological centres, and logistical networks for women entrepreneurs. Infrastructure improvements help women-led companies grow.

e) Policy Advocacy: Women's entrepreneurship policy benefits from public-private collaboration. Examples include gender-inclusive rules, ease of doing business, and gender-based barrier policies.

f) Inclusive Business Models: PPPs can promote inclusive business methods that involve women in value chains. This can create chances for women entrepreneurs in numerous areas, promoting economic inclusion.

g) Networking and Collaboration: PPP collaborative programmes allow women entrepreneurs to network with stakeholders and other firms. Networking is essential for knowledge sharing, partnerships, and market expansion.

h) Capacity Building: PPPs can fund financial management, marketing, and technology adoption programmes for women entrepreneurs. This gives women the skills to run effective and sustainable businesses.

Q3) Explain Entrepreneurial Assessment Techniques in detail.

Ans) SWOT Analysis: This method identifies internal and external strengths, weaknesses, opportunities, and threats. Entrepreneurs evaluate their skills, resources, market trends, and hazards.

a) Feasibility Studies: Entrepreneurs use feasibility studies to evaluate company ideas. Analyse market demand, competition, financial expectations, and operational demands.

b) Market Research: Target market information matters. Market research helps businesses make decisions by obtaining client preferences, industry trends, and competitive data.

c) Financial Analysis: Entrepreneurs evaluate startup costs, revenue, break-even, and ROI. Good decisions require financial knowledge.

d) Customer Validation: Entrepreneurs evaluate products and services with customers using surveys, focus groups, and prototypes. Customer feedback promotes product-market fit.

e) Risk Assessment: Finding and assessing risks is crucial. To mitigate risk, entrepreneurs consider market volatility, regulatory changes, and operational concerns.

f) Competitor Analysis: Learning competitors' strengths and weaknesses helps entrepreneurs’ market. Competitor analysis reveals USPs and market differentiators.

g) Business Model Canvas: This visualisation depicts consumer segmentation, value offerings, income streams, and costs. It depicts the firm model holistically.

h) Mentorship and Advisory Support: Consulting experienced mentors or advisors delivers significant insights. Experienced mentors offer critique, professional advice, and practical advice.

i) Networking and Peer Feedback: Networking with colleagues, industry professionals, and potential consumers helps entrepreneurs understand market dynamics by providing varied perspectives and constructive criticism.

j) Psychological Assessments: Psychological tests can help entrepreneurs understand their personality, risk tolerance, and decision-making. Self-awareness helps leadership.

k) Scenario Planning: Entrepreneurs anticipate and solve issues. This strategy enhances corporate adaptability.

Q4) Write short notes on the following concepts in the context of their gendered impact: a) Balance of Payment b) Problems of Global trade c) Direct Foreign Investment.

Ans) The balance of payments (BoP) details a nation's international economic dealings. It includes the current, capital, and financial accounts. Trade trends affect gendered employment in the BoP. Textiles and electronics assembly, which employ mostly women, can affect a country's current account surplus. Trade imbalances may also worsen gender inequality, especially in vulnerable industries.

Problems of Global Trade:

Global trade issues often have gendered implications, affecting men and women differently. Trade liberalization can lead to job losses in certain industries, disproportionately affecting female-dominated sectors. Moreover, unequal access to resources and markets may limit women's participation in global trade. Women entrepreneurs may face challenges such as limited access to finance, discriminatory trade policies, and barriers to entering international markets. Therefore, addressing gender disparities is crucial for promoting inclusive and sustainable global trade.

Foreign Direct Investment (FDI):

Foreign Direct Investment affects job patterns and workplace conditions generally. FDI can provide jobs, but the sectors attracting it may affect gender equality. For instance, if FDI is concentrated in industries with poor labour standards, women workers may face exploitative conditions.

On the positive side, FDI can bring opportunities for skill development and capacity building, potentially benefiting women in the workforce. However, ensuring that FDI contributes to gender equality requires initiative-taking measures and policies that promote fair labour practices and protect the rights of women workers.

PART- B

Answer any two of the questions given below in 1000 words each.

Q1) Identify three women entrepreneurs in your locality and prepare a case study of them. (Please refer Unit 11 for preparing case studies).

Ans) Akshita Sachdeva:

When I was young, I lost my grandmother to cancer. When I grew up, I wanted to become a doctor because my grandfather would say if there was a doctor in our family, maybe my grandmother would have been alive. I grew up listening to that and always wanted to become a doctor.

I started pursuing biology in the 12th grade and was one day discussing with my Zoology professor that I wanted to work in the cancer space. She said it was not always about you knowing the best doctor because it was also about the time or the stage at which cancer gets diagnosed. That stayed with me and I started to understand the intervention that helps to diagnose cancer at an early stage.

I had chats with a few different instructors and mentors during the second year of my engineering course; these conversations took place over that time period. I was informed that in order to work in this field, I really need to be a member of a centre that focuses on innovation and incubation. This is something that I absolutely need to do.

A team was working on persons with blindness and building a project for them. They were in dire need of somebody from a software engineering background to join the team. I was ok with the job. Anything in the healthcare space and if it gives me experience, I would be happy to do that.

For the College project that I undertook, we looked at an NGO working at a blind school in Delhi. There was this little kid. He used the device and said he wanted to talk to his dad. So, he called his dad and we were just listening to the conversation. He was saying, ‘Dad, some scientists have come to my school and they have made gloves for all of us and now I can read on my own. I can travel.’ He was super excited about it. Then, maybe his dad asked him something and he just turned around and asked, ‘When can I get this?’ That left me dumbstruck.

I didn’t have words to answer his question but it left a mark on me. It was like a pivotal moment in my life when I decided that instead of pursuing a career in the IT sector or taking up any other job I would rather find the answer to his question as well as answers to similar questions that people like him have. That motivated me to continue working in this direction. I applied to Digital Impact Square, which is a TCS Foundation initiative in Nashik. That was where I got my team, the mentors, and the resources that helped me start Trestle Labs.

Saloni Sacheti:

Yes, I wanted to work with women and for women’s empowerment. I wanted to start something of my own, I was sure, but perhaps not at an early age. I started looking for fellowships and job opportunities in the social development sector, and a fellowship, SBI Youth for India Fellowship, came to my notice. I applied and went to Dang in Gujarat, where I was placed during my fellowship

I saw the condition of women and the tribe there. They were not paid well, did not have a regular source of income, and were doing seasonal migration. There were a lot of problems. There was no livelihood opportunity for them.

That made me realize that I should start an enterprise, not for me but them. There’s a lot of bamboo in Dang. That’s how we came up with the idea of doing something with bamboo and being a woman, I thought of doing something related to bamboo jewellery. I decided we should make something with bamboo, make bamboo jewellery, and we initiated the process of marketing and production.

I was trained in the way I was because I come from a business family. I always liked to work with women and for women’s empowerment and so always thought of that. Probably that helped me and showed me a way. I wanted to do just this in my life but to choose this path I had to go through different journeys. Then, inevitably, I homed back to my path to do what I always wanted to do.

Smriti Gupta:

In New York, when I was pursuing my Bachelor of Engineering degree, I had a lecturer. He would travel from New York to Ghana, which is located in Africa, and teach there for a few months of the year, just like a lot of other people who I saw doing some wonderful work in the field of social impact.

It was only natural for me to gravitate toward college teachers or other individuals whose work had a significant impact on society, brought about social change or reform, and served as a source of inspiration.

That served as the trigger, but the interest was always there and when you have the interest throughout your life, you naturally gravitate or attach to people who think like that.

I think the desire to do something like this already existed. It’s just that those are the people I naturally gravitated towards because of my interest.

It was perhaps during my pre-teen or teen years.

Whether it was throughout my youth, my teenage years, or my undergraduate years, I believe that the urge to engage in the field of social impact has always been present. In addition to discussing topics such as semiconductors, electricity, and other related topics, some of my favourite instructors in college would also discuss the impact that their teaching had on society.

After going through the adoption procedure for my girls, I came to the realisation that millions of children in India who were abandoned or orphaned were not even being considered for adoption due to the legal adoption process. Therefore, the personal experience of going through that and being aware of what was lacking in the ecosystem was finally able to provide me with the specific problem that I desired to work on.

Q2) Analyse the challenges faced by women entrepreneurs at the level of entry and advancement.

Ans) Women entrepreneurs encounter a multitude of challenges both at the entry level and as they advance in their entrepreneurial journeys. These challenges are often shaped by social, cultural, economic, and institutional factors. For the purpose of designing specific strategies to promote female entrepreneurs and to foster an entrepreneurial ecosystem that is inclusive, it is essential to conduct an analysis of these hurdles.

Access to Finance:

Entry Level: Women often face barriers in accessing startup capital. Traditional financing institutions may exhibit gender biases, and women entrepreneurs may lack collateral or face stringent lending criteria.

Advancement: It takes a significant amount of capital to scale a business, and female entrepreneurs may have a more difficult time acquiring funds for expansion.

Gender Stereotypes and Bias:

Entry Level: The perceptions that people have about women who are entrepreneurs might be influenced by societal biases and preconceptions. Expectations that are based on gender can give rise to scepticism regarding the capabilities of women to be successful in entrepreneurial roles.

Advancement: Gender bias persists as women climb the entrepreneurial ladder. Investors, customers, and business partners may be subject to unconscious biases that have an impact on decision-making, which can make it more difficult for women to achieve positions of leadership.

Limited Access to Networks:

Entry Level: The development of a network is essential to the success of a firm. As a result of their marginalisation from male-dominated groups, female entrepreneurs may have difficulty gaining access to networks, mentorship, and support.

Advancement: When it comes to expanding their company, strategic alliances and collaborations are frequently essential. When it comes to gaining access to powerful networks that could potentially facilitate the growth of their businesses, female entrepreneurs may face challenges.

Work-Life Balance:

Entry Level: Striking a balance between caring for one's family and pursuing one's commercial interests can be difficult. There is a possibility that women will be hesitant to start their own businesses due to concerns about adequately managing their work-life balance.

Advancement: As businesses grow, the demands on entrepreneurs increase. Achieving work-life balance remains a persistent challenge for women entrepreneurs, affecting their well-being and ability to sustain business momentum.

Lack of Representation:

Entry Level: The absence of visible role models and successful women entrepreneurs may discourage aspiring women entrepreneurs. The lack of representation contributes to a perception that entrepreneurship is not a viable path for women.

Advancement: Limited representation at leadership levels in various industries may hinder women entrepreneurs from breaking through glass ceilings. A lack of diverse leadership perpetuates gender inequalities.

Access to Education and Training:

Entry Level: Unequal access to education and training opportunities can impact women's preparedness for entrepreneurship. Limited skills and knowledge may hinder their ability to launch and manage successful ventures.

Advancement: Continuous learning is essential for business growth. Women entrepreneurs may face challenges in accessing advanced training programs and executive education, limiting their strategic and managerial capabilities.

Discrimination and Harassment:

Entry Level: It is possible for women to be discouraged from starting their own businesses due to discrimination and harassment in the workplace. It is possible that women will choose less challenging employment options out of fear of being subjected to prejudice.

Advancement: Women entrepreneurs may encounter discrimination in various forms, including unequal treatment in negotiations, client interactions, and industry events. This can hinder business growth and success.

Market Access and Gendered Industries:

Entry Level: Certain industries may be perceived as traditionally male-dominated, dissuading women from entering these sectors. Market access can be restricted due to gender biases in supplier relationships.

Advancement: Breaking into gendered industries can be particularly challenging for women entrepreneurs. Overcoming stereotypes and establishing credibility may require additional effort and resilience.

Legal and Regulatory Barriers:

Entry Level: Barriers posed by laws and regulations might have a disproportionately negative impact on female entrepreneurs. There may be difficulties in acquiring licences and permits, and there is a possibility that legal frameworks do not effectively handle gender-specific issues.

Advancement: Complex regulations and bureaucratic hurdles can impede business growth. Navigating legal frameworks may be particularly challenging for women entrepreneurs, requiring additional resources and expertise.

Technology Divide:

Entry Level: Limited access to technology or digital literacy may hinder women entrepreneurs from leveraging online platforms for business development. The technology divide can exacerbate existing inequalities.

Advancement: In an increasingly digital business environment, women entrepreneurs may face challenges in adopting and integrating advanced technologies. This can impact competitiveness and innovation.

Intersectionality Challenges:

Entry Level: Intersectional obstacles are faced by women who come from underprivileged groups. These challenges combine gender prejudices with other types of discrimination or prejudice. In some cases, these difficulties may be more severe for women of colour, women who identify as LGBTQ+, or women who have impairments.

Advancement: Intersectionality continues to influence challenges at advanced stages. Breaking through intersectional barriers may require targeted interventions to address multiple layers of discrimination.

Access to Government Support Programs:

Entry Level: Limited awareness of government support programs and gender-neutral policies may hinder women entrepreneurs from benefiting from available resources.

Advancement: Accessing government support at advanced stages may require navigating complex bureaucracies. Tailoring policies to address specific challenges faced by women entrepreneurs is crucial.

Inadequate Representation in Decision-Making Bodies:

Entry Level: Women may be underrepresented in decision-making bodies that influence entrepreneurial ecosystems. This lack of representation can result in policies that do not address gender-specific challenges.

Advancement: Advocating for greater representation at industry, community, and policy-making levels is essential for ensuring that the unique needs of women entrepreneurs are considered in strategic decision-making.

Measuring Success and Impact:

Entry Level: Traditional definitions of success may not align with the diverse goals and aspirations of women entrepreneurs. Limited recognition for diverse forms of success may impact motivation.

Advancement: As businesses advance, the metrics for success may become more rigid. Women entrepreneurs may face challenges in aligning with conventional success measures, impacting funding opportunities and industry recognition.

Fear of Failure and Risk Aversion:

Entry Level: Societal expectations and fear of failure may deter women from taking entrepreneurial risks. Aversion to risk can limit exploration of innovative business ideas.

Advancement: Overcoming the fear of failure remains a challenge at advanced stages. Women entrepreneurs may face societal scrutiny and personal doubts, influencing their willingness to take bold business decisions.

Q3) Examine the role of technologies in helping women entrepreneurs with suitable examples.

Ans) In recent years, technology has emerged as a powerful force that is propelling entrepreneurship all over the world. The impact of technology is particularly significant in terms of empowering women entrepreneurs. When it comes to supporting women's economic involvement, technology plays a transformative role in a variety of ways, including removing conventional barriers and providing people with new options. The following is a list of numerous ways in which technology contributes to the empowerment of female entrepreneurs, along with instances that illustrate these trends:

Access to Information and Markets:

Example: The ability to sell their wares on e-commerce platforms such as Etsy, eBay, and Amazon give women artisans and crafters the ability to sell their products. By utilising these platforms, female entrepreneurs have the opportunity to promote and sell their products, thereby increasing their customer base beyond the confines of geographical location.

Digital Financial Inclusion:

Example: Women entrepreneurs in rural areas are able to gain access to financial services through the use of mobile banking and digital payment systems. Examples of such systems are M-Pesa in Kenya and Paytm in India. These platforms make it easier to conduct transactions, save money, and obtain credit, hence lowering reliance on the infrastructure of traditional banking.

Online Learning and Skill Development:

Example: With the help of online learning platforms such as Coursera, Udemy, and LinkedIn Learning, female entrepreneurs have access to a diverse selection of online courses and programmes that specialise on skill development. By doing so, they are able to gain new abilities, improve upon those they already possess, and maintain their competitive edge in a corporate environment that is constantly shifting.

Remote Work and Flexibility:

Example: Remote collaboration tools like Zoom, Slack, and Trello enable women entrepreneurs to manage their businesses with flexibility. This is particularly beneficial for women balancing entrepreneurship with caregiving responsibilities, allowing them to work from any location.

Crowdfunding and Financing:

Example: Platforms like Kickstarter and Indiegogo allow women entrepreneurs to raise capital for their ventures through crowdfunding. This democratizes the funding process and provides access to capital for those who may face challenges in traditional financing avenues.

Social Media Marketing:

Example: Platforms like Instagram, Facebook, and Pinterest serve as powerful marketing tools for women entrepreneurs. They can leverage these platforms to showcase their products, build a brand presence, and engage with a global audience without significant marketing costs.

AI and Data Analytics:

Example: Artificial Intelligence and data analytics empower women entrepreneurs to make data-driven decisions. For instance, analysing customer behaviour, preferences, and market trends helps in tailoring products and services to meet specific needs.

Health Tech and Wellness Apps:

Example: With the help of wellness applications and platforms such as MyFitnessPal and Headspace, female entrepreneurs may better manage their stress and strike a good balance between their professional and personal lives. In addition to improving productivity and concentration, these technologies contribute to an overall sense of well-being.

E-Learning Platforms for Entrepreneurial Education:

Example: Platforms such as Khan Academy, edX, and LinkedIn Learning provide courses that are specifically designed for women who are trying to start their own businesses or who are already doing so. These classes address a wide range of topics related to business, such as marketing, money management, and business strategy.

Supply Chain Management Software:

Example: Business operations of female entrepreneurs can be made more efficient with the assistance of supply chain management solutions such as SAP or Oracle. Through the optimization of inventory, logistics, and production processes, these platforms contribute to an increase in efficiency.

Digital Marketing Tools:

Example: Digital marketing strategies may be created and implemented by women entrepreneurs with the help of email marketing solutions such as Mailchimp and social media management platforms such as Hootsuite. Visibility of the brand and engagement with customers are both improved by these technologies.

Blockchain for Transparency and Security:

Example: Digital marketing strategies may be created and implemented by women entrepreneurs with the help of email marketing solutions such as Mailchimp and social media management platforms such as Hootsuite. Visibility of the brand and engagement with customers are both improved by these technologies.

Virtual Reality (VR) and Augmented Reality (AR):

Example: Online retailers are rapidly turning to virtual reality (VR) and augmented reality (AR) technologies to provide virtual try-ons and immersive buying experiences. It is possible for female entrepreneurs in the fashion and beauty industries to make use of these technologies in order to improve overall client engagement.

Healthcare Tech for Work-Life Integration:

Example: In order to better integrate their business and personal lives, women entrepreneurs might benefit from telemedicine and virtual healthcare services. It is possible to save time and improve general well-being by gaining access to healthcare services available through technology.

Collaboration Platforms for Networking:

Example: Platforms like LinkedIn or industry-specific forums provide networking opportunities for women entrepreneurs. Building connections through these platforms can lead to partnerships, mentorship, and business growth.

While technology brings immense opportunities, it is essential to address challenges and ensure inclusive access:

a) Digital Divide: Disparities in digital literacy and access to technology persist. Efforts are needed to bridge the digital divide through educational initiatives and infrastructure development.

b) Cybersecurity Concerns: Threats to cybersecurity are something that female entrepreneurs need to be aware of. It is absolutely necessary to put in place stringent security measures in order to safeguard sensitive corporate information.

c) Gender Bias in Technology: It is of the utmost importance to address the issue of gender bias in the development of algorithms and technological systems. By ensuring that technologies are developed with representation from a diversity of perspectives, it is feasible to achieve results that are more equitable.

d) Balancing Online and Offline Presence: Despite the fact that having a presence online is absolutely necessary, female entrepreneurs should also consider the importance of keeping a balance between offline networking and relationship-building in order to have a comprehensive company strategy.

e) Ensuring Data Privacy: Entrepreneurs should make protecting the privacy of their clients' data a major concern, and they should comply with any laws that are in place to safeguard the information of their consumers and maintain their loyal customer base.