Entrepreneurship clearly defies the laws of gender and has got much more to do with how and where one utilises the opportunity instead of a gender-based label
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The word 'entrepreneur' is derived from the French word 'enterprendre' which means to undertake. Anyone who undertakes the responsibility of running a business venture, giving it time, value and money is regarded as a successful entrepreneur. Being an entrepreneur is an attempt to create value through recognition of business opportunity. It is a milestone defining the opportunity for who so ever chooses this path- be it a male or female. Entrepreneurship clearly defies the laws of gender and has got much more to do with how and where one utilises the opportunity instead of a gender-based label.
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However, there has been the emergence of many studies and researches that were done specifically to find out the ultimate results on 'who rules the business better' among men and women. As per a research conducted by Centre of Entrepreneurs- "Women entrepreneurs are more likely to work towards controlled, profitable growth with relatively little interest in merely positioning themselves for a lucrative exit."
Women have the edge in terms of taking calculated risks if the research done by Centre of Entrepreneurship is to be believed which says 87 per cent of women see themselves as financial risk takers as compared to 73 per cent of men. Another finding by the same research institute says that 47 per cent of women are keen to start a new business within the next three years as compared to only 18 per cent of men. One major reason for these attributes can be that women had to break many barriers, shatter many preconceived notions before acquiring this position which they hold currently in the business world. This is why women tend to take home a lot of study and homework as compared to men.
It is a fact that more than 75 per cent of business is male-dominated worldwide but when it comes to more effective leadership, women dominate this chart as per a data analysis was done by Fitsmallbusiness.com. The data analysis says that women have a larger appetite for growth and when all statistics are compared, women actually outperform their male counterparts.
Another solid measure to analyse the success of a business is the rate of job creation. Female-owned firms are way ahead in terms of creating jobs and stimulating the economy when compared to male-owned firms. A longitudinal study conducted by Dow Jones VentureSource found that the firms having three to four female executives have a higher success rate compared to those having one or two female executives.
Not just by comparing various studies, if we go by the basic nature also, women have been multitasking all through their lives for the kind of society we live in. They have been managing the households and basic domestic chores without the blink of an eye, and ever since women took over the business world, they started excelling in that front too. This, in general, makes women more well-organised and delegated. Women are also blessed with a brilliant sense of nurturing relationships, higher emotional quotient, and a dash of empathy. So, the business relationships are built on understanding, trust, and compassion which are truly long-lasting, one of the keys for business success.
- By Moonmoon Bhagchandka, Co-Founder and Creative Director at Nmami Life
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