Management begins at home and it is a sustainable pillar of entrepreneurship. The females are always ahead of the males in management education. Every housewife is an entrepreneur as she manages her family by making plans and executing strategies. She executes her strategies to secure her hubby’s comfort, children’s education, and family’s future. At the same time, she keeps her passion towards the interior of her house. Hence, the chapter of women entrepreneurship begins at home. The word Entrepreneur is only just introduced to the business world. After the word is introduced, women from different parts of the world have scaled greater heights in different shades of entrepreneurship.
Major functions performed by the women entrepreneurs
1. Determination of objectives
2. Exploring the prospects of a new business
3. Undertaking of risks
4. Handling of economic uncertainties involved in that business
5. Supervision and leadership
6. Coordination and control
7. Administrative management
8. Introducing innovative strategies
9. Crisis management
Women entrepreneurs are playing multiple roles
A woman is important in all aspects of life. Being active in family management directly helps a woman to take an active participation in local, regional, national, and international level policy making teams. Therefore, the elements of women entrepreneurship in India are contributing a huge in the social and economic development of our nation. Being passionate about their business concepts, the female entrepreneurs are playing multiple roles in managing her enterprise. Starting from the screening of generated ideas, they involve themselves in project preparation, determination of objectives, product analysis, raising funds, dealing with the promotional formalities, raw material procurement, machine placement, and recruiting the males.
How can a women entrepreneur choose her business domain effectively?
1. Introducing a fashion point
2. Opening a pre-school
3. Starting a laundry cum house cleaning service
4. An upholstery fabric can be a beneficial idea
5. A medical spa can be introduced in a medium level city or small town
6. Child development hubs are high in demand
7. Beauty clinics are meant to be successful business ideas
8. Running a fitness point
9. Opening a bookshop cum cafe
Women entrepreneurs are effectively dealing with the 3Ms of business
The techno-economic surveys tell us about the fraction of investment we should do in the purchase of machinery. You cannot ignore the role of material procurement in a manufacturing business. However, manpower is the lifeline of a product based or a service based business. Popularly known as the 3Ms of manufacturing business, manpower, materials, and machinery are being managed by the women entrepreneurs in India. Not only are the Ms, modern biz women smart in handling with the Ps of marketing. There was a time when the business profession belongs to the males but the scenario has changed with the continuous improvement of science and technology. You will find unlimited numbers of micro, small, or medium entrepreneurs across India which are compelled by the married couples. Much more are there which are getting managed by the females, jointly. Even the number of sole entrepreneurship (driven by the females) is not rare in India.