MD4044 Entrepreneurship Theory And Practice: Essay Analysis, Findings, And Discussion.

Discuss about the MD4044 Entrepreneurship Theory and Practice. The reasons for being in business were the key concern of the interviews conducted among the six women. Reasons here depict the factors that influenced one to venture into entrepreneurship.

1. Women in Entrepreneurship

Women have in the recent past ventured into business. Various issues have been contributory to this aspect. Research has shown that women have developed a market niche in the field of entrepreneurship. The analysis on women on entrepreneurship scopes through a list of interviews evaluated from six interviews conducted on women in business.

• Reasons for being in business

The reasons for being in business were the key concern of the interviews conducted among the six women. Reasons here depict the factors that influenced one to venture into entrepreneurship. This aspect brings into perspective push-pull factors for entrepreneurship. The six women interviewed presented different influence factors. The first woman in business cited passion (a pull actor) as being the key factor that influenced her to venture into business.

The second woman sited risk taking and creativity (pull factors) as the factors that influenced her to start the business.

The third woman cited pulling her own shots (pull factor) as the factors that drove her into entrepreneurship.

The fourth woman cited creativity (pull factor) as a factor that influenced her participation in entrepreneurship. She also cited the lack of variety of clothes during her daughter’s birth (push factor) as a factor that influenced her to start business.

The fifth woman cited passion (pull factor) as a factor that influenced her to start doing the business.

The sixth woman cited dynamic changing business (pull factor) as a factor that influenced her to do business.

• Duration in business

The duration one spends on business is basis for classifying one as a businesswoman or not. Among the women interviewed, all of them had been in business for at least 2 days, 3 years, 4 years, and 7 years. Taking into consideration the age of the women it comes out clearly that they started the business at a young age.

• Number of employees

The women interviewed all had people working under them. This means that they were focused on promoting economic development through the creation of employment.

2. Level of education and entrepreneurship

This theme is meant to identify and bring into perspective how education affects and effects entrepreneurship.

• Level of education of the women interviewed

All the women interviewed had finished their university education.

• Field of study and area of business

The businesses started by the women interviewed did not rhyme with what they pursued in university. They explored totally different fields all but two.

3. The man factor in entrepreneurship

When asked if the aspect of being a man could change what influenced them to start the business, a large percentage of the women cited financial stability (push factor) as a factor that could have influenced them to start the business.

4. Country factor in entrepreneurship

Reasons for being in business among women

Most of the women when interviewed maintained that the country had no effect on the factor that influenced them to start business.

5. Level of satisfaction from business

One among the women interviewed expressed complete satisfaction from the business.

6. Exclusion of point of interest

The women stated that even if the point of interest would have been excluded, their passion for the businesses they started would still not be affected. It couldn’t change a thing.

Concept Map

The use of a diagram will illustrate how the push and pull factors might be related to the adoption of entrepreneurial activities among women in India. This will help bring into perspective the hypothesis of the research and give clear communication to stakeholders. The diagram should clearly illustrate and show the relationship between push and pull factors and entrepreneurial adoption.

The concept map is essential in helping individuals understand the relationship between ideas just like a sentence diagram represents sentence grammar. The concept map will enhance the meaningfulness of the results; they enable the facilitation of sense-making and meaningful learning during the research process.

Tables and charts will be an essential aspect since presentation of the findings will greatly depend on these tools to facilitate an easy understanding of the end results. This aspect focuses on the interpretation of the results in relation to the research hypothesis. Interpretation will focus on relating the push and pull factors with entrepreneurial adoption among women. If the concept map results do not meet or align with the research hypothesis the conclusion will be that push and pull factors have no impact on the adoption of entrepreneurship by women

Discussion

The findings of the analysis confirm aspects of the literature review. This is due to the fact that they confirm that women are visionary beings. From the analysis, we are able to tell that women are mostly influenced to start business by pull factors. Only a small percentage is inducted into the business by push factors. Through the analysis, we are able to confirm those findings and agree with researchers that men are mostly induced into the business by push factors as the analysis brings into perspective financial stability before creativity and passion. The analysis also confirms that women are not so much into business management as one of the women said that she is just into designing while the brother does all the management and marketing. From the analysis we are able to learn and understand that it is not necessary for one to start a business in his field of study. However, the analysis brings into perspective the aspect that university education is an essential ingredient for starting a successful business. It equips an individual with the necessary knowledge to understand the market, the consumers and the market forces and how to sustain a business under various adversaries.

Duration of business undertaken by women

 From the literature review, the following factors have been identified as the crucial components that propel entrepreneurial spirits among women. These factors include attitudes, aspirations, information, family bolster, advertisement openings, freedom government appropriation, and fulfillment. (Lalitha, 2009)Although these aspects are crucial for entrepreneurial spirits among women, not all of them are essential for the success of entrepreneurial activities. A few of these components really have an influence and impact on the success of an entrepreneurial undertaking.  Various researchers have pointed out that skill knowledge and adaptability are the core reasons for women participation in entrepreneurship. However, having a solid financial background can also be a great contributor to participation in women participation in entrepreneurial and business activities. Take for instance a woman with all the core mentioned reasons for participation in entrepreneurship and with little or no finances to support a particular entrepreneurial venture, she has to seek out financial help from someone capable enough to muscle the bill for starting the venture. (Anshuja, 2007)

Women in entrepreneurship must be flexible enough to meet the changes in trends and the ever dynamic challenges of the worldwide markets and be able and capable of handling the adversaries of the entrepreneurial world. The capabilities of such women should be unique and geared towards development and expansion (Anshuja, 2007)However, as a result of insufficient training, women are unable to maintain their position in the market. Despite possession of the core competencies necessary for sustaining a venture additional training is necessary so as to develop and acquire an insight of the area of operation and understand the operations of new processes, procedures, and technologies.

Fund acquisition is a great challenge faced by women venturing into entrepreneurship. This is usually because women are usually worried about securing scholarly capital as compared to men. Women being in business are a great step towards liberalization and economic development. However, questions arise as to how they can be able to strike a balance between work and family (Laritha 1996). Do the business ventures they handle affect their marriage lives or not. Studies have shown that as the entrepreneurial ventures grow, the time married women spend with their children and spouses reduces drastically. (Chitukanye, 2009)

Further researches have shown that the performance of women in entrepreneurship is dependent on a certain variable which might include training, age, and the responsibility towards family. In addition, the country's wage rate greatly limits cooperation among women in business. Culture also greatly affects the operations of women in business. (lavanya, 2014) A culture like those of the Khai are liberalized making women as equally enterprising as the men, adoption of such approaches is essential in ensuring that women progress and develop as far as entrepreneurship is concerned. However, the promotion of women in development should not overlook the cultural beliefs and values (Santha 2008). Individuals must strike a balance between the two.

Education affects entrepreneurship among women

 Through the literature review, we are able to see that the position and role of women in India have changed a great deal over time. When the country had picked up autonomy women were pushed into local family unit spaces. Phenomenal walks were made with a high degree of improvement for bringing down quite a number of gender differences. However, there has been an increased number of trafficking and assault instances affecting women. This scenario is quite ironical in a sense that in one hand women are struggling to have a position in entrepreneurship field while in the other hand they are also struggling to battle against adversaries directed towards them in society. If individuals are ready to support women in entrepreneurial development, they should also be ready to do the same in the social aspects of the life of women (Ganesan, 2016)

Taking into perspective general entrepreneurship and women entrepreneurship, women entrepreneurship are quite behind in almost every aspect. However, women have held big positions in organizations and companies for quite a reasonable time. Women entrepreneurship is becoming an emerging issue and trend in the globe today in the field of entrepreneurship (Priyanka, 2016)Firms managed by women have often been referred to as underperforming. To remove the aspect of underperforming we all need to rise up and equip women with the necessary tools, training and support so that they improve their administrative capabilities and in turn improve organizational performance. (Namita, 2013) Some researchers have been able to show that gender is not a metric for measuring organizational performance (Ganesan, 2016)

 Women across the globe have created a niche with unique businesses. Women are increasingly discovering their potential and increasingly expanding their niche. The research has been able to bring into perspective areas where women entrepreneurship has grown and its potential to continue growing. However, they have not included aspects that are underway in various areas to ensure that the growth is sustained in the long run. The research has been able to rate as a percentage the development of women entrepreneurship across various countries and economies. The research has brought into perspective the fact Indian women have the lowest probability of being in authority. However, the researchers have not been able to tell us what is to be done to ensure that the chances of women in authority are increased. (payar, 2007)

The research is able to put into perspective the fact that quite a large percentage of woman entrepreneurs in India started their businesses between the age of 25 and 30 thus confirming the fact that age is a critical success factor for woman entrepreneurship. Through the online study that brought this into perspective, we are also able to identify that for women entrepreneurship to be successful it must be started before any responsibilities come in handy although it is not a guarantee.

Effect of country on women entrepreneurship

Push-Pull Factors

The research brings into perspective the various viewpoints that are impacting a decision to end up employed by women or independently. The push-pull theory illustrates just but a few motivational components. The research is able to tell in a layman's language that push factors are factors that force an individual to explore business. The push factors are associated with negativity (Ganesan, 2016)Pull factors according to the research are visionary aspects that attract individuals into businesses. The research, however, tends to maintain the viewpoint that individuals tend to think towards a business perspective when they are within push and pull factors whereas not every individual who ventures into business does so because of this factors. The research appreciates the fact that push-pull factors are not static but dynamic, they change with time and with the changes in economic and social aspects of life.

The women workforce has grown, and a distinction stays between the work done by women and that of men. It is concluded that women have qualities that are less valued in the workplace. However, this viewpoint is generic and therefore cannot be conclusive s not all women have the same values. Some women though few are able to compete with men in workplace management. The family also plays a critical function as a push factor in venturing into business. A critical aspect is brought into perspective that most women are mostly pulled into business rather than pushed. Through this discovery, we are able to describe women as being visionary beings (Anshuja, 2007)

The literature review is able to bring out clear reasons why entrepreneurship is promising and attractive to women. It brings out a core reason as to why women prefer entrepreneurship overpaid employment as being able to balance work and personal responsibilities. However, literature from various aspect contradict each other since another perspective over the same indicates that women in entrepreneurship often find themselves paying more attention to the business as her attention to children and the husband reduce drastically over time. Regardless the review is able to satisfy the hypothesis that pushes and pull factors are essential motivation factors for women to pursue entrepreneurship. (Maura, 2015)

References

Anshuja, T., 2007. Women Entrepreneurship and Economic Development. business and economic journal, 1(4), pp.43-49.

Chitukanye, D.T., 2009. Examining the Role of Women Entrepreneurs in Emerging Economies. economics, 1(1), p.10.

Ganesan, s., 2016. Status of Women Entrepreneurs in India.. Empirical factors that motivate women to enter into entrepreneurship, 11(2), p.21.

Lalitha, L.R., 2009. Women Entrepreneurs. A case study of Vishakhapatnam. Business , 2(3), pp.1-22.

lavanya, T., 2014. Women Empowerment Through Entrepreneurship. An Indian context., 3(1), pp.7-11.

Maura, M.A., 2015. Female Entrepreneurship. Small Business management, 2(7), pp.9-11.

Namita, K., 2013. Women Entrepreneurship in India. Understanding the Role of NGOs, 6(12), p.25.

payar, K., 2007. An exploration of self-identity. Indian Women as Entrepreneurs, 2(1), pp.61-73.

Priyanka, S.G., 2016. Women Entrepreneurship. Emerging Dimensions of Entrepreneurship in India, 5(22), p.2.