Women Entrepreneurs: Candid thinking in a VUCA World

What women entrepreneurs are?

On a prefatory note, the classification ‘women entrepreneurs’ can be easily expounded in terms of J. Schumpeter as “women who innovate initiate or adopt business actively are called women entrepreneurs.” Technically, a women entrepreneur is defined as an enterprise owned and controlled by woman having a minimum financial interest of 51% of the capital and giving at least 51% employment generated to women. At the same time, women entrepreneurship refers to business or organization started by a woman or group of women.

The terminology of “Female entrepreneurs” undertakes that division of women force who advance into diverse commercial engagements like producing, crafting, developing, servicing etc.  By and large, women account for slightly less than 50 percent of the world’s population at approximately 3.55 billion women. Tough women represent almost half of the world, they do not comprise half of the world’s workforce. Ms CEO do you belong to this category?

Furthermore, such women entrepreneurs have shown their spunk not only in operating their ventures but also by governing and aggrandizing their businesses in full-scale. Axiomatically, present day female venture builders are more inventive, visionary, innovational and sanguine encountering VUCA conditions at each stage. However, Covid-19 had a disproportionate impact on women all over the world. In India, which has a vast gender gap across almost all social indicators, women are even more vulnerable. The South Asian nations have as many as 16 million women-owned businesses, fewer than 20 per cent of all enterprises, with most of them largely single-person operations, making survival crucial. How about your surroundings?

Numberless women entrepreneurs claimed menacing repercussions on their enterprises, chocking them to even closing down their pursuits due to pandemic. But, against all odds, the mettlesome female entrepreneurs reciprocated promptly and stood out as survivors and achievers. Challenging the aftermaths of the corona crisis with resilience, has greatly magnified the role of women entrepreneurs as leaders in the business world on the world map. These women entrepreneurs cum CEOs have exhibited body of steel and abundance of tenacity in shaping the world around them, rich to draw from their experiences during their journey embracing VUCA.

Our curiosity

There is a firm belief that entrepreneurs need to continuously explore new business models, while acquiring and scaling on leadership roles. These new age women entrepreneurs must be constantly engaged in finding solutions to dynamic problems encountered by women entrepreneurs. With the advent of a technology driven and technology intensive world, the digital revolution has been embarked upon. Technology influences business endeavours tremendously. Irrespective of the nature and volume of the venture, technology aids generating wealth and fulfilling consumers desires and demands with its tangible and intangible advantages. Majorly businesses have taken their birth using the advantage of technology and the digital space, and so have these women entrepreneurs done so.

Female led commercial organizations have now become the fast-expanding economies across the globe. The untapped entrepreneurial caliber of womenfolk has started surfacing and evolving with the increased cognizance about their significant and indispensable contribution in the business world. With added capacity and capability augmentation, these new age women are destined to bring changes they see and wish to add in making this world a better place to live. But this leads several unanswered questions.

What needs to be explored

There are no fixed responses to the queries raise. In fact, they lead to some more unanswered questions.

1. What do these women entrepreneurs see as a career?
2. What kind of exciting opportunities do these women entrepreneurs envisage in their industry as witnessed during post Covid-19 situation?
3. Which kind of challenges do they perceive in their industry?
4. How do they intend to address them (without divulging trade)?
5. When do they see the appropriate opportunity to strike the Mackenna’s Gold?
6. What business models do they admire and draw from the competition?
7. What advice do they have for other women entrepreneurs?
8. How much of impact do they want to see in the world from their entrepreneurial perspective?

Take away

Women entrepreneurs have also started visualizing exciting opportunities in their industry in the post Covid-19 situation. For them the challenges are beyond home to setting up the enterprise and taming between the business environment and global impact on the industry. Born with the basic gift of being emotionally powerful and resilient, they have inbuilt strengths of adaptability ready to be capitalized. These new age entrepreneurs can be seen as a symbol of change, constantly engaged not only in solving a problem but also generating wealth, job creation and economic development.

To most of them, where there is a passion there is a profession. For example, entrepreneurs in the travel industry were not only passionate about travelling but also helped in creating traction for visitors to trail down their story and create an economic process. Few of them created a support system and pathways in bringing back the livelihood of underprivileged women entrepreneurs, especially post Covid-19. These women entrepreneurs also helped in motivating and upskilling other women in standing up again and thinking about a sustainable dignified livelihood. This was possible by re-training and upscaling on a continuous basis. For them the mantra was “work hard, stay consistent, keep backups ready, and be vocal of your opportunities and strengths”.

To put it succinctly, womenfolk are the integral part of entrepreneurship and will lead the constructive change in near future. With their ingeniousness,  they are able to accomplish, inventiveness, uniqueness, abundant profitability and industrial development. Such successful women achievers are also becoming benchmarks for many talented females globally to follow the same track to success and glory in the economic world. Are you one of them?

Have you read?
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The World’s Most Valuable Unicorns, 2023.
The World’s Top 10 Highest-Paid Wealth Management Executives.
Highest paid chief executive officers in the United States in 2022.
Highly-Paid Entertainment Chief Executives.
Highest paid health insurance CEOs.