Review of literature








Chapter 1

INTRODUCTION: The entrepreneur is commonly seen as an innovator — a generator of new ideas, and business processes. Management skill and strong team building abilities are often perceived as essential leadership attributes for successful entrepreneurs. Reich considers leadership, management ability, and team-building to be essential qualities of an entrepreneur. This concept has its origins in the work of Richard Cantillon in his Essai sur la Nature du Commerce en General (1755) and Jean-Baptiste Say in his Treatise on Political Economy. Psychological studies show that the psychological propensities for male and female entrepreneurs are more similar than different. A growing body of work shows that entrepreneurial behavior is dependent on social and economic factors. For example, countries with healthy and diversified labor markets or stronger safety nets show a more favorable ratio of opportunity-driven rather than necessity-driven women entrepreneurs.

OBJECTIVE 1. To study role of entrepreneur. 2. To study contribution of Entrepreneur to National Economic Growth. 3. Challenges and opportunities for women entrepreneur.

RESEARCH METHDOLOGY This research has been based entirely on secondary data sources which were subject related the source used were books, journals, newspapers and website.

Because it's entrepreneurial energy. manufacturing facilities. one can better position for success. The most dynamic societies in the world are the ones that have the most entrepreneurs. skilled labor and land or . For it's the entrepreneurs who serve as the spark plug in the economy's engine. growth and opportunity in any economy. It is the entrepreneur who undertakes the risk of the enterprise in search of profit and who seeks opportunities to profit by satisfying as yet unsatisfied needs. Entrepreneurs seek disequilibrium--a gap between the wants and needs of customers and the products and services that are currently available. Entrepreneurs occupy a central position in a market economy. A society is prosperous only to the degree to which it rewards and encourages entrepreneurial activity because it is the entrepreneurs and their activities that are the critical determinant of the level of success. They invest and risk their money--and other people's money--to produce a product or service that can be sold at a profit. The entrepreneur then brings together the factors of production necessary to produce. prosperity.The Role of the Entrepreneur By understanding place in the economy. activating and stimulating all economic activity. The economic success of nations worldwide is the result of encouraging and rewarding the entrepreneurial instinct. raw materials. creativity and motivation that trigger the production and sale of new products and services. plus the economic and legal structure to encourage and motivate entrepreneurs to greater activities. offer and sell desired products and services. entrepreneurs are unique because they're capable of bringing together the money. More than any other member of our society.

especially regarding internal operating systems. If your business burned to the ground today.buildings required to produce a product or service. 3. what would you not get into again? What would you do differently? Brian Tracy is the "Success Secrets" coach at command one of authorities on entrepreneurial development. Identify the steps you could take immediately to operate your business more efficiently. As an entrepreneur. Brian Tracy International. they believe that success is possible and are willing to risk their resources in the pursuit of profit. and all prosperity in the nation. Entrepreneurs are a national treasure. Imagine reinventing your business. They're the most important people in a market economy--and there are never enough of them. all jobs. Tell yourself continually "Failure is not an option. Imagine starting over. And they're flexible. all opportunities. willing to change quickly when they get new information. They continually seek out customer needs that the competition is not satisfying and find ways to offer their products and services in such a way that what they're offering is more attractive than anything else available. and should be protected. They create all wealth. extremely important to world. sales and distribution of that product or service. Ones success is vital to the success of the nation. He's produced more than 300 audio and video learning programs that cover the entire spectrum of human and corporate performance through his company. need and are willing to pay for? What are your three best opportunities? 1. encouraged and rewarded as much as possible. What opportunities exist today for you to create or bring new products or services to your market that people want. 2. Use your creativity rather than your money to find new. one that contributes to the health of the economy." Be willing to move out of your comfort zone. cheaper ways to sell your products or reduce your costs of operation. . Entrepreneurs are optimistic and future oriented. nourished. What could you do immediately in one or both of these areas? 4. To help you develop a better business. They're fast moving. and you had to start over. you wouldn't get into or start up again? 5. Is there anything you're doing today that. And they're capable of arranging the marketing. Entrepreneurs are skilled at selling against the competition by creating perceptions of difference and uniqueness in their products and services. knowing what you now know. to take risks if necessary to build your business. willing to try many different strategies to achieve their goals of profits. better.

Determination Entrepreneurs are not thwarted by their defeats. and eliminate any hindrances or distractions to their goals. not waiting for someone to give them permission. They set the parameters and make sure that projects follow that path.QUALITIES TO BECOME AN ENTREPRENEUR Successful businesspeople have many traits in common with one another. They need to win at the sports they play and need to win at the businesses that they create. They are open to any new ideas which cross their path. They exude that confidence in everything they do. 1. 6. . They will repurpose products to market them to new industries. Creativity One facet of creativity is being able to make connections between seemingly unrelated events or situations. they should start it themselves. Ideas are constantly being generated about workflows and efficiency. Competitive Many companies are formed because an entrepreneur knows that they can do a job better than another. Open Minded Entrepreneurs realize that every event and situation is a business opportunity. 7. 3. They are determined to make all of their endeavors succeed. so will try and try again until it does. Entrepreneurs often come up with solutions which are the synthesis of other items. 4. Confidence The entrepreneur does not ask questions about whether they can succeed or whether they are worthy of success. They are disciplined self starters. Self Starter Entrepreneurs know that if something needs to be done. An entrepreneur will highlight their own company’s track record of success. Successful entrepreneurs do not believe that something cannot be done. They are proactive. 5. Disciplined These individuals are focused on making their businesses work. They are confident and optimistic. Successful entrepreneurs are disciplined enough to take steps every day toward the achievement of their objectives. They have the ability to look at everything around them and focus it toward their goals. Here are ten traits of the successful entrepreneur. They have overarching strategies and outline the tactics to accomplish them. They look at defeat as an opportunity for success. They are confident with the knowledge that they will make their businesses succeed. 2. people skills and potential new businesses.

Their mind is constantly on their work. They genuinely love their work. they want to go further. They are very good at highlighting the benefits of any situation and coaching others to their success. Strong work ethic The successful entrepreneur will often be the first person to arrive at the office and the last one to leave. 9. The successful entrepreneur will always be reading and researching ways to make the business better. . Passion Passion is the most important trait of the successful entrepreneur. They are willing to put in those extra hours to make the business succeed because there is a joy their business gives which goes beyond the money. Successful entrepreneurs want to see what the view is like at the top of the business mountain. They know how to talk to their employees. 10. Strong people skills The entrepreneur has strong communication skills to sell the product and motivate employees.8. They will come in on their days off to make sure that an outcome meets their expectations. Once they see it. Most successful entrepreneurs know how to motivate their employees so the business grows overall. whether they are in or out of the workplace. and their businesses soar as a result.

He is the catalyst for social change and works for the common good. . They look for opportunities.ROLE OF ENTREPRENEURSHIP IN ECONOMIC DEVELOPMENT An entrepreneur can be regarded as people who has the initiative skill and motivation to set up a business or enterprise of his own and who always look for high achievements. the introduction of capital into the area that allows business to expand and grow. The exact process by which this will occur varies by the needs of the country. The role of an entrepreneur in economic development is to bring about growth. the supplies of the country. Entrepreneurs may also introduce tried and true ideas from other countries into developing countries in attempts to bring the country into modern times. An action oriented entrepreneur is a highly calculative individual who is always willing to undertake risks in order to achieve their goals. identify them and seizes them mainly for economic gains. and the cost versus financial ability of the country or the entrepreneur. For example. An entrepreneur can introduce new ideas into a fledgling economy that can help the country grow.

Thus entrepreneurship increases the national income. When the new entrepreneurism grow at a faster rate. When the industries are concentrated in selected cities. .Entrepreneurship and Economic Development Entrepreneurship helps in the process of economic development in the following ways : 1 . they are forced to set up their enterprises in the smaller towns away from big cities. in view of increasing competition in and around cities. self employment as an entrepreneur and indirectly by starting many industrial units they offer jobs to millions.Employment generation Growing unemployment particularly educated unemployment is the problem of the nation. The domestic demand increases with increase in population and increase in standard of living. development gets limited to these cities. health. The available employment opportunities can cater only 5 to 10 % of the unemployed. 3) Balanced Regional Development: The growth of Industry and business leads to a lot of Public benefits like transport facilities. This concentration of power in a few hands has its own evils in the form of monopolies. Thus entrepreneurship is the best way to fight the evil of unemployment. 4) Dispersal of economic power : Industrial development normally may led to concentration of economic powers in a few hands. A rapid development. An increasing number of entrepreneurism are required to meet this increasing demand for goods and services. The export demand also increases to meet the needs of growing imports due to various reasons. education. Directly. This helps in the Development of backward regions. Entrepreneurs generate employment both directly and indirectly. 2) National Income: National Income consist of the goods and services produced in the country and imported. The goods and services produced are for consumption within the country as well as to meet the demand of exports. entertainment etc.

In this way they can increase the standard of living of the people. 5) Better standards of living : Entrepreneurer’s play a vital role in achieving a higher rate of economic growth.Developing a large number of entrepreneurism helps in dispersing the economic power amongst the population. 6) Creating innovation : An entrepreneur is a person who always looks for changes. table mats. These items sell internationally. In short. apart from combining the factors of production. being used by small scale entrepreneurs to weave quality bags such as “ciondo”. Thus it helps in weakening the harmful effects of monopoly. lamp shades etc. The Kenyan sisal plant is. . 7. for example. He always try to introduce newer and newer technique of production of goods and services. An entrepreneur comes up with ideas of how to use what others may consider waste. When the price of the commodies decreases the consumers get the power to buy more goods for their satisfaction. This improves the economy of a country through taxes and creation of jobs which improves the standard of living of the beneficiaries. Entrepreneurship also helps in increasing productivity and capital formation of a nation. An entrepreneur brings economic development through innovation. Entrepreneurism are able to produce goods at lower cost and supply quality goods at lower price to the community according to their requirements. the development of the entrepreneurship is inevitable in the economic development of the country. he also introduces new ideas and new combination of factors.Effective utilization of resources : Entrepreneurship is all about putting to better use the resources which are considered to be of low value with an aim of earning income.

jewelleries. Promotion of technology: A few years ago. Export promotion : Entrepreneurs produce high quality products that attract an unusually wide market. such items are on demand in foreign markets . traditional technology.8. The thinking behind this lantern is to help light Kenyan rural homes and save on fuel costs. buildings. 11. Export of handicraft items : Entrepreneurs play a significant role in producing and exporting handicraft items. the Jua Kali sector in Kenya came up with new technology for making gas burners (jikos) that use bio fuel from cow dung. factories. 9. This has improved many homes since the cost of fuel has become affordable for them. 12. carpets. handbags such as the world famous “ciondo”. table mats. Evans Wadongo who was rated among the 2010 top 10 CNN Heroes. local knowledge and experience for producing traditional art and craft and handicraft items. Growth of infrastructural facilities : Entrepreneurs help in the growth of infrastructural facilities such as roads. They are both exported to foreign markets and sold locally at markets such as the Maasai Market in Kenya. which are the cornerstones of economic growth. which has become immensely popular with foreigners. Nowadays. etc. Some of their goods are sold in the international markets thus bringing foreign exchange to Kenya. as well as the local people. It is the entrepreneurial communities who complement and supplement the economic growth increase per capita income by identifying and establishing profitable business ventures. stone carvings.Increase in per capita income : Economic growth is measured in terms of a sustained increase in real income. keep eye problems caused by smoke from tin or bottle Laterns at bay and conserve the environment. . 10. Establishment of factories and industries in a particular locality presupposes the growth of infrastructural facilities. They generally use the local traditional skill. etc. and the gas is produced through a real easy process. bridges. These jikos are made from locally available materials that are truly affordable to the low income earners even at the village level. A particularly recent innovation in the same line is the solarpowered LED lantern by a young 2010 CNN Kenyan nominee.

actual ownership and active control. has turned cow waste into a profitable venture. 13. 14. . as it is First used to produce energy source before it is used as manure. 15. Peter Ruigu Kirugi of Red Hill farm. The biogas promotion. It is always necessary to step up the rate of capital formation so that the economy accumulates a large stock of machines. a favorite dish for most whites there. Limuru. enables dairy farmers to get better value from the dung produced by their cows. One such Kenyan is Ibrah. empowerment through enterprise involves access to resources and markets. Conservation agent: Entrepreneurship allows for maximum utilization of natural resources.Empowerment of women through enterprise: Women entrepreneurs such as Mary Okello of Makini Group of Schools. He put up a 32 cubic meter biogas plant in March 2010 to utilize the dung Produced by his dairy herd. In this context. pioneered by Promotion of Private Sector Development in Agriculture (PSDA). Mr. Capital formation : Capital formation is the most crucial element for economic growth. These things lead to equity and equality among men and women and act as a lever for social stability. capital formation in the economy may be brought about by the formation and up-gradation of skills of human capital. tools and equipment which can be geared into production by the entrepreneur. bring their goods here in Kenya to sell in organized exhibitions. who is operating a successful “ugali-nyamachoma” resort in USA. There are also Kenyan entrepreneurs who have identified attractive markets in foreign countries to sell Kenyan products and culture. Esther Passaris of Adopt A Light are the prime movers of women empowerment. This is in terms of knowledge and skills which can be utilized to raise the level of productivity whereby economic growth can be accelerated. in conjunction with the GTZ project. Besides. through exchange programmers.Entrepreneurs from other countries. This gives an opportunity to the local entrepreneurs to learn and exchange new ideas with their counterparts from different countries.

In this way. thus creating an environment of enthusiasm and conveying an impetus for overall development of the area. Sayigh describes entrepreneurship as a dynamic force. etc 16 Induces Backward and Forward Linkages: Entrepreneurs like to work in an environment of change and try to maximise profits by innovation. energy saving stoves which use less firewood and also save time and money for the user. Evans Wadongo. the process of industrialization is set in motion. like that being developed by the 2010 CNN Heroes nominee. Once an enterprise is established. . Entrepreneurship plays a significant role in the country's development. According to Harbison.Biogas can replace all kinds of energy sources like LPG. This leads to overall development of an area due to increase in demand and setting up of more and more units. the entrepreneurs multiply their entrepreneurial activities. Entrepreneurship promotes environmental friendly technologies like biogas digesters. charcoal and electricity. it induces backward and forward linkages which stimulate the process of economic development in the country. an entrepreneur is the person who perceives a business opportunity and converts it into a Viable business plan culminating into a business venture ultimately. When an enterprise is established in accordance with the changing technology. Indeed. entrepreneurs are prime movers of innovation. solar-powered LED lanterns. firewood. 17 Facilitates Overall Development: Entrepreneurs act as catalytic agent for change which results in chain reaction. This unit will generate demand for various types of units required by it and there will be so many other units which require the output of this unit.

It is one of the most important inputs in economic development. it varies from economy to economy. The role of entrepreneurs is not identical in the various economies. The economic history of the presently advanced countries like USA. Depending on the material resources. The number and competence of entrepreneurs affect the economic growth of the country. The contribution of entrepreneurs may be more in favorable opportunity conditions than in economies with relatively less favorable opportunity conditions.Entrepreneurship has an important role to play in the development of a country. Russia and japan supports the fact that economic development is the outcome for which entrepreneurship is an inevitable cause. The crucial and significant role played by the entrepreneurs in the economic development of advanced countries has made the people of developing and under developed countries conscious of the importance of entrepreneurship for economic development. industry climate and responsiveness of the political system. . It is now a widely accepted fact that active and enthusiastic entrepreneurs can only explore the potentials of the countries availability of recourses such as labor.Need for Entrepreneurship Development Economic development essentially means a process of upward change whereby the real pr capita income of a country increases over a period of time . capital and technology.

Entrepreneurship is a core sector which can be developed in a big way. Entrepreneurship play a critical role in the growth of any society. . It has been increasingly realized that enterprising women has vast entrepreneurial talent which could be harnessed so as to convert them from the position of ‘Job seeker’ to ‘Job giver’.Chapter 2 Review of literature 2. particularly in fast developing country like India. more so in the developing economy.1 “JOB SEEKER TO JOB GIVER” Entrepreneurship are the lifeblood of any economy.

2. The secret.” she says. Naina Lal Kidwai is undoubtedly one of the most powerful and influential persons in the world.” Kidwai’s own career is an excellent example of her principles. In 2002 she became vice chairman and managing director for HSBC Securities and Capital Markets India Private Limited. . She is a shining example of what one can do with focus. in 2006 she became CEO. and determination. I think we should be ‘engaged’ in the profession of our choice rather than just ‘work hard’ in our chosen work area. We need to literally set ourselves on fire with our objectives. She returned to India to work with Morgan Stanley and initiated the merger of JM Financial and Morgan Stanley in India in 1998. she went on to get her masters in business administration from Harvard Business School in 1982. “We need to push the limits of achievement and better our performance all the time. she reveals. After obtaining a bachelor’s degree in economics from Delhi University. is her passion for work. Her unwillingness to stay complacent is what fuels her success. passion. and in 2009 she became the group’s country head.2 Passion is the Secret: Indian Finance CEO Naina Lal Kidwai In the world of finance. “We need to be passionate and driven to achieve any goal we choose.

2. is that too bad to start with? The 4. uncertainty in terms of regulation and uncertainty now in terms of the way the rupee trades for those that have on the one hand .uncertainty in terms of tax regimes. FICCI In an interview with ET NOW. We need to take up the solutions that are staring us in the face. I believe there is much to be done. You represent India Inc.3 and 4. The question why Indian industry is not investing? Is it because of high interest rates or is it also because there is a lot of political and policy uncertainty. President. looking at renewable sources of energy and providing incentives to industry to go into the so called import substitution measures.6. We are having knee jerk short-term reactions. President. Excerpts: 4. actually begin to kick start and get cranked up into outcomes and performance.4% is the headline GDP figure for Q1. Simultaneously. On the import side. in terms of ensuring the rupee starts exhibiting export competitiveness. for which we need a political consensus or indeed make sure that these stuck projects which CCI has cleared. we have announced medium-term measures because they will change perception and will have the actual effect of bringing the current account deficit down and ensure as a result that our fiscal also stays in control. but what about the next year? How do these numbers measure up and how would that impact our fiscal deficit? So.8%. some of which are required but not all of which are. FICCI. not to help economic crisis: Naina Lal Kidwai. at least on my front. There was an expectation.4%. I fear that the announcements have actually demonstrated that the actions we are taking are more of a populist nature.4% figure was not a huge surprise. namely the GST. not with an eye on fiscal or indeed on the economic crisis. that it would be somewhere between 4. The finance minister has assured us that the fiscal deficit will be stemmed at 4. But the government seems to be making the right noises around the economic decisions. Naina Lal Kidwai. We need to take positive steps. Why is it that the confidence has not been won as far as peers from Indian industry are concerned? Why is Indian industry not investing? Indian industry needs an enabling environment which it sees as friendly for investment and uncertainty never helps .3 Government measures populist in nature. The manufacturing data is of course worrying and I believe that there is room for the right policy action. other than gold imports. The trouble is that the actions we have taken as in the announcements on the Food Security Bill and the Land Acquisition Bill can spell an economic backlash. gives her outlook on the GDP figure of 4. we still have to take material action in the area of substituting coal imports and our energy bill with domestic gas supply.

There are investments happening in some states. those that are dependent on imports are clearly getting affected by rupee that is depreciating.borrowings in foreign currency or on the other. too few. So. for investment to happen in existing companies taking capacity enhancements forward -. I do believe that we have at the end of the day the right skills and labor available.the IT sector is a classic case which will benefit from the depreciating rupee and also pharmaceutical where we have large exports and they are in fact a major part of their revenues. we do have capital. . it is about domestic industry going back into investing and feeling good about investing in our country. they will benefit but the issue is that for new investment to happen. do not forget there was a lot of investment in capacity accretion that happened not all of which is utilized now because demand itself has slowed down and on the other high interest rates and the vitiated investment environment are not in fact leading to investment in itself. The issue really is we need to take and ensure that the measures that are required to make this happen and I mentioned some of these earlier. but the fact is there are some states which are still seen as attractive destination. we do have ways to ensure that this happens. the environment as a whole is an issue. I should also qualify this by saying that numbers we see are made up of lot of moving parts including certain aspects at the state level and the story fortunately at the state level is not all grim. they are much more around FDI.on the one hand you need demand that fills existing capacity so. What we need is investment in the domestic market to come back and it is not just about FDI. Â There are some industries that continue to do well . Sentiment is a very important part of the way investment behaves and sentiment right now is just not positive but I do believe it can change. Now. But if you look at the efforts that are being made by the government.

The most worrying aspect of the IIP number is the decline in manufacturing and mining in June. while imports dipped by 6. improvement in the external situation and improvement in the management of current account deficit will give elbow room to the government to attend to domestic sector and the issues like interest rates could be tackled. The trade deficit was unchanged from $12.64 percent in July. mining and power sectors and a decline in production of capital goods. Industry body Ficci said the Index of Industrial Production (IIP) figures for June are indeed a matter of concern and clearly indicate that supply side bottlenecks and weak consumer demand are weighing down on industrial growth. “The continuous de-growth in manufacturing will impact the employment scenario and manufacturing can be revived by stimulating demand. the most in nearly two years. it is also important that the RBI takes cognisance of the steep slide of industrial production and reduce interest rates to revive demand.4 India Inc demands rate cut as IIP contracts for second month in June Aug 13. “What is especially discouraging is the sharp decline in output of all sub-sectors – manufacturing.2 percent in June. due to poor show by the manufacturing. CII said. lowering the interest rates and expediting investment projects. However. he said. policy bottlenecks and subdued demand conditions. It is the manufacturing which has to look up for generation of jobs. there was some good news with regard to exports and a considerable reduction in the trade deficit. The country’s exports grew by 11. 2013. Reuters Another industry chamber CII said that IIP number in June is a matter of concern and does not bode well for early revival of the sector.2 percent. Assocham said the industrial demand continues to remain suppressed as the consumer and investor sentiment has not recovered yet. easing monetary policy alone is not sufficient. mining and electricity – which continue to be under stress owing to a spate of inhibiting factors such as high interest rates. While fully appreciating the RBI’s compulsions to keep the rupee under check.” CII Director General Chandrajit Banerjee said. lowering the interest rates and expediting investment projects.” Ficci President Naina Lal Kidwai said. India Inc today demanded a cut in interest rates to revive demand and to fast-track implementation of large projects to boost economic growth.2. the second straight monthly drop. However. Assoc ham Secretary General D S Rawat said. This must be supplemented with government action to revive investment and stimulate demand. flagging investments.” he said. “The continuous de-growth in manufacturing will impact the employment scenario and manufacturing can be revived by stimulating demand. “Hopefully.2 billion in June. The industrial production contracted 2. . 2013 CII FICCI IIP Interest rate cut With IIP contracting for the second month in June.” Ficci President Naina Lal Kidwai said.

Given the state of India's economic development. New policy like the Companies Bill 2012 brings hope to two third of the respondents that it will make a difference as fraud. good governance is absolutely critical to give us a competitive edge and sustain growth.400 Cr Loss to India Naina Lal Kidwai. bribery and corruption in the country might reduce. Corruption invariably increases transaction costs and uncertainty in an economy while lowering efficiency by forcing entrepreneurs to divert their scarce time and Money to bribery rather than production.2. "Clearly. to hiding bribery and corruption.” As per 77 percent respondents the managing directors are responsible for handling the bribery and corruption-related issues in the organizations. president of FICCI said. we need to improve our governance systems. The unprincipled business conduct like irregular accounting. 89 percent of the respondents thought that insufficient enforcement of laws is adding to the increasing problems of bribery and corruption in India. . complementary gifts given to agents and third parties being engaged to pay bribes are some of the common instances which have been witnessed by most of the Respondents directly or indirectly. to stay ahead in this competitive world.5 Corruption Causes Rs 36.

publishers. who is capable of contributing values in both family and social life. They are flourishing as designers. although women constitute the majority of the total population. Skill.Chapter 3 “Women” as Entrepreneurs in India INTRODUCTION “Women” as Entrepreneurs in India :Women owned businesses are highly increasing in the economies of almost all countries. But the . interior decorators. Women in advanced nations are recognized and are more prominent in the business world. ‘Women Entrepreneur’ is a person who accepts challenging role to meet her personal needs and become economically independent. women are aware of their own traits. The hidden entrepreneurial potentials of women have gradually been changing with the growing sensitivity to the role and economic status in the society. A strong desire to do something positive is an inbuilt quality of entrepreneurial women. the entrepreneurial world is still a male dominated one. garment manufacturers and still exploring new avenues of economic participation . rights and also the work situations. With the advent of media.In India. knowledge and adaptability in business are the main reasons for women to emerge into business ventures. The challenges and opportunities provided to the women of digital era are growing rapidly that the job seekers are turning into job creators. The glass ceilings are shattered and women are found indulged in every line of business from pappad to power cables. exporters.

Training programs and workshops for every type of entrepreneur is available through the social and welfare associations. this situation is changing among Indian women and yet to face a tremendous change to increase the rate of growth in entrepreneurship. . To a certain extent. b) Socio-cultural barriers – Women’s family and personal obligations are sometimes a great barrier for succeeding in business career. Such programs are really useful to new. financial assistance from public and private institutions and also the environment suitable for women to establish business units. This can facilitate women to excel in decision making process and develope good business network. g) Exposed to the training programs . loans. e) Knowledge in Business Administration – Women must be educated and trained constantly to acquire the skills and knowledge in all the functional areas of business management.Indian women entrepreneurs are facing some major constraints like – a) Lack of confidence – In general. Even then every woman entrepreneur may not be aware of all the assistance provided by the institutions. So the sincere efforts taken towards women entrepreneurs may not reach the entrepreneurs in rural and backward areas. skill and the purpose of the training program. attitude to take up risk and behavior towards the business society by shouldering the social responsibilities. schemes etc. women lack confidence in their strength and competence. Only few women are able to manage both home and business efficiently. Government policies. rural and young entrepreneurs who want to set up a small and medium scale unit on their own. based on duration. Other factors are family support. f) Awareness about the financial assistance – Various institutions in the financial sector extend their maximum support in the form of incentives. devoting enough time to perform all their responsibilities in priority c) Market-oriented risks – Stiff competition in the market and lack of mobility of women make the dependence of women entrepreneurs on middleman indispensable. The family members and the society are reluctant to stand beside their entrepreneurial growth. Many business women find it difficult to capture the market and make their products popular. They are not fully aware of the changing market conditions and hence can effectively utilize d) Motivational factors – Self motivation can be realized through a mind set for a successful business.

Highly educated. In spite of the mushrooming growth of associations. The additional business opportunities that are recently approaching for women entrepreneurs are: • Eco-friendly technology • Bio-technology • IT enabled enterprises • Event Management • Tourism industry • Telecommunication • Plastic materials • Vermiculture • Mineral water. rather than dependent on wage employment outlets. women are not enterprising and dynamic to optimize the resources in the form of reserves. and the schemes from the government side. The unexplored talents of young women can be identified. • Sericulture • Floriculture . assets mankind or business volunteers.h) Identifying the available resources – Women are hesitant to find out the access to cater their needs in the financial and marketing areas. technically sound and professionally qualified women should be encouraged for managing their own business. institutions. A desirable environment is necessary for every woman to inculcate entrepreneurial values and involve greatly in business dealings. trained and used for various types of industries to increase the productivity in the industrial sector.

the desired outcomes of the business are quickly achieved and more of remunerative business opportunities are found. mentoring. had higher expectations for their business. Apart from training programs. fruits & vegetable processing Empowering women entrepreneurs is essential for achieving the goals of sustainable development and the bottlenecks hindering their growth must be eradicated to entitle full participation in the business. •The educational backgrounds of male and female entrepreneurs were similar. •Women were less likely than men to purchase their business. trade fairs and exhibitions also can be a source for entrepreneurial development. •Women entrepreneurs had a larger average household size. the differences observed among men’s and women’s new business ventures include the following: •Men had more business experience prior to opening the business and higher expectations. •Differences between women and men concerning venture size and hours are explained by control variables such as prior start-up and industry experience . As a result. but men were more likely to own an employer firm. •Male entrepreneurs were more likely to found technologically intensive businesses.• Herbal & health care • Food. •Men spent slightly more time on their new ventures than women. •Female owners were more likely to prefer low risk/return businesses. businesses that lose their competitive advantage more quickly. Newsletters. Henceforth. and did more research to identify business opportunities. DIFERRENCE BETWEEN MEN WOMEN ENTREPRENEUR While gender was shown not to affect new venture performance when preferences. Let us try to eliminate all forms of gender discrimination and thus allow ‘women’ to be an entrepreneur at par with men. motivation. and expectations were controlled for. promoting entrepreneurship among women is certainly a short-cut to rapid economic growth and development. •Women were more likely to have positive revenues. and businesses that have a less geographically localized customer base Male owners spent more effort searching for business opportunities and this held up when other factors were controlled for. •Male owners were more likely to start a business to make money.

. Alumna of Delhi University. she is working as the Group General Manager and Country Head of HSBC India.NAINA LAL KIDWAI Naina Lal Kidwai A prominent personality of the corporate world. who has a keen interest in observing the wildlife. who is maintaining a great balance between work and home. She loves to go on trekking tours to the Himalayas. who runs the NGO. Raised in Mumbai and Delhi. Grass root Trading Network for Women. She is very fond of Indian classical as well as western music. Naina is married to Rashid Kidwai. At present. she is the first woman to guide the functioning of a foreign bank in India. she did her schooling from Simla. She is the first Indian woman to have graduated from Harvard Business School She is the mother of two children. She is a nature lover. Personal Life: • • • • • • • • She was born in the year 1957.

Kidwai also served as the Country Head of HSBC India. Audit Advisory Board of the Comptroller and Auditor General of India. Head of Global NRI Services and Head of the Western India. Besides. is an Indian banker and business executive. . Naina also served as the Group General Manager of HSBC India until 15 April 2009. Current Positions Along with serving as the Chairman of HSBC Asset Management (India) Pvt Ltd and HSBC InvestDirect (India) Ltd. Kidwai serves as the Group General Manager of HSBC Holdings Plc since 1 October 2006. Mrs. She also served as the Head of Corporate & Custodial Services of HSBC Bank. Naina Lal has also served as the Manager of West India of Investment Bank based in Bombay from 1984 to 1987. She has also completed her Bachelors of Arts in the year 1977. From 1994 to 2002. Harvard Business School. Mrs. Career Early Years From 1982-1994 she worked ANZ Grindlays. She is currently the Group General Manager and Country Head of HSBC India. Chairwoman. From 1977 to 1980. Since 15 April 2009. Lal was the Chief Manager and Head of Investment Bank India and as Manager of North India of Investment Bank from 1987 to 1989. her other positions include being a non-executive director on the board of Nestle SA. Kidwai served as the Head of Investment Banking in Morgan India and JM Morgan Stanley. where her assignments included Head of the Investment Bank. She also serves as the Chief Executive Officer of HSBC India of HSBC Holdings Plc since 5 May 2006. Mrs. Global Advisor. Kidwai also served as the Deputy Chief Executive Officer of HSBC Holdings Plc since 21 May 2004. From 1989 to 1991. she also served as Managing Director of HSBC Securities and Capital Markets India. and on the National Executive Committee of CII and FICCI. Kidwai was the first Indian woman to graduate from Harvard Business School and also the first woman to guide the functioning of a foreign bank in India. she worked at Price Waterhouse & Co. Mrs. She is the President of the Federation of Indian Chambers of Commerce and Industry (FICCI). She is on the Governing Board of NCAER. Retail Bank.She also holds a Bachelors degree in Economics from University of Delhi and an MBA from Harvard Business School in 1982. City of London's Advisory Council for India. Career Highlights Mrs.Naina Lal Kidwai. a chartered accountant by profession.[11] She also served at Standard Chartered Bank from the year 1982 to 1994 and as Chief Manager of Retail Bank from 1984 to 1991.

Mrs. and the other is the volatile nature of the retail business. But ten years ago. She is also the mother of 2 children. Naina. Technology solutions are being provided by the best in the IT industry. Her mother comes from an industrial family being the sister of industrialist Lalit Mohan Thapar. the sector is very well connected.AIESEC as a National Advisory Board Member to AIESEC India. what we have today is a banking sector. Kidwai has repeatedly ranked in the Fortune global list of Top Women in Business. Her interests include microfinance and livelihood creation for rural women and environment. Awards For her praiseworthy work. 12th in the Wall Street Journal 2006 Global Listing of Women to Watch ad listed by Time Magazine as one of their 15 Global Influential’s 2002. On the technology front. public sector banks easily work off these platforms. Naina Lal is very fond of Indian classical and the western music. the public sector was wary of adopting technology as unions opposed it. Naina married to Rashid Kidwai who runs an NGO named Grassroot Trading Network for Women. Kidwai is also a nature lover and also has keen interest in observing the wildlife. Mrs. This is true not only at HSBC. Naina is the daughter of an insurance company CEO. Naina has also secured many accolades. and as a result. Personal life. who is maintaining between home and work. She has also received ASSOCHAM Ladies League's Delhi Women of the Decade Achievers Award 2013 for Excellence in Banking DEVELOPMENT BY NAINA LAL KIDWAI CIO: What are some of the most significant shifts that you've witnessed in the banking sector? Naina Lal Kidwai: There are two significant shifts that I have witnessed in the banking sector: One is rapid technological development. also supports the world's largest youth driven organization . hence there is no compromise on quality. She also loves to go on trekking tours to the Himalayas. but also for the industry because every change brings a new model for growth.She has also served as Deputy Chief Executive Officer of HSBC from November 2002 to 5 May 2006. which—including public sector banks—is driven off a strong technology platform. . Today. Naina Lal has secured the distinguished Padma Shri award for her contributions in the areas of trade and industry.

In terms of security. This is because it is important to ensure that all the technology platforms are linked together. We are yet to reach a stage where your mobile phone is your wallet. in some ways. technology definitely plays a big role. Also. And this ensures that we have a global offering in India. Banks like HSBC brought the first ATM to the country. The private sector scores for the fact that it is more agile. when you are a part of a larger organization. The ability to screen and know exactly what is happening is important. But it also helps because you can easily import innovations. the decision-making is such that you cannot have a technology in one location. Also. Also. I think no one will get it right all the time because technology evolves continuously. Technology must continue to evolve. will be around Internet and mobile banking. being a big organization and functioning across geographies poses its own constraints. given the youthful nature of our population. which is different from what you have in others. On the other hand. in order to keep all your systems and processes intact. going forward. and sometimes. an element that we have not leveraged effectively—which if you’d asked me five years ago I would have said was “the” technology—is mobile telephony banking that isn’t just SMS-led. Here's where technology can help. there is very little that constrains you. I must say that foreign banks do help in bringing in cutting-edge technology. you can’t easily add on something that makes your global systems insecure.I think this sets the standard because the private sector has to be technologically better when competing against well-funded public sector banks. something else has come out that is far superior to what has been achieved or implemented by us. CIO: Could you elaborate what technology changes are shaping the banking sector? Naina Lal Kidwai: I think the big change. our customers today are adopting technology at a much faster rate than ever before. with respect to keeping pace with regulatory changes. Sometimes. the ability to put security walls and ensure that central systems do not get impacted is part of a security technology's evolution process. It is able to easily adapt and bring in new technologies into play faster. However. The Internet banking platforms of banks in India are truly secure and—to that extent—we do have strong security technologies available in India. But the good news is as long as we can learn about something that didn’t work somewhere else in the world we can avoid repeating those mistakes. So. only to find out that six months down the line. you learn things the hard way. Go to Questions CIO: How does IT help you stay compliant with regulatory mandates? Naina Lal Kidwai: I think. there are multiple layers of checks and balances that you need to go through. . I think the next leg of this mobile telephony banking is going to be an important one for us. The worst we could do is implement a change. sit back and relax.

Go to Questions CIO: How can organizations avoid falling into this trap? Naina Lal Kidwai: You need to be able to move ahead. And here it is all about MI (management information). But at the end of the day. analysis. It is about data that is captured in a way that reminds you of what may have happened in the past. Go to Questions CIO: How has IT helped you achieve this? Naina Lal Kidwai: The risk models are developed with two things: Degrees of refinement. we can’t get our relationship manager to drive a customer-friendly technology initiative which doesn’t meet other IT criteria like security. assembled. We got the full benefit of the growth sectors without getting hit by those that didn’t do well. To have good risk processes is important and to have the MI around risk—enabled by IT—is also very important. So IT’s role is very big. and integration with other IT systems. and make sure you are always listening to your customer. we are dependent on a system that captures data. So we didn’t get hit by those. How did you manage this in a down economy? Naina Lal Kidwai: We tend to be a conservative lender. and experience helped us enormously in terms of our lending book. and bringing out technology solutions that are customer-centric is vital. we were spared the large NPAs (non-performing assets) that other banks accumulated. We should be able to check what our customers have to say. Having customer engagements in the front-end.K. It includes data across all the countries in this part of the world. The reports that our risk head presents to us at the APAC board-level meetings are phenomenal. and due consideration is given to them. Go to Questions . but it may not be the best for the customer. I think our risk strategies. We need to ensure that all the voices on social media platforms get heard. controls. and inputs that come in from Hong Kong and the U. which represents close to 66 percent of the profits of HSBC. However. We are able to understand this because of systems that have been set up and are able to pull together data in meaningful ways. You have to keep all channels open for ideas and innovative solutions. we will have an excellent system. IT-enabled. We also took a view of certain sectors like power and airlines where we either got out in time or just weren’t there. If we rely only on the technology guys. Go to Questions CIO: HSBC India is enjoying healthy profit margins. at some level. The analysis of the information and the financials are all. abandon what’s not working. By not having an aggressive lending strategy in periods which were not that good for the economy.

He needs to know what technologies are being implemented at say ICICI or HDFC bank. it becomes important for him or her to show a commitment to the team. he should put his hand up early enough to get it here. There was a danger. potato farmers. we should have a good reason. If he doesn’t understand the business. since 60 percent of all IT software development for the global HSBC group happens in Pune and Hyderabad. How do you engage with external agencies like the police and know the system and processes necessary to take action once you detect fraudulent activities? The whole chain. For a large multi-national like us. he wouldn’t be able to drive change. We also have the added need to have fraud control and security. And banks do not always have the ability to trace the source or check if the person depositing the money has paid his taxes. therein. of a disconnect between our software team reporting to the U. So. That way. . If the technology is relevant. The solution enables them to access basic information. Getting past the entire KYC (know your customer) issue was tough. we are at an advantage. It is important that he inputs and implements those technologies in the country or in his sector. It is also about having a good team.S. I think knowing what the competitive landscape looks like in one’s immediate vicinity is very important. a CIO needs to understand the business.CIO: What are your expectations from a CIO and what does the role entail? Naina Lal Kidwai: First of all. While he has to be customer-centric—towards external customers—the CIO should also focus on his internal customers. the employees of the bank. but we should make sure we know what’s happening and explore every avenue to ensure that we too can. and even dairy farmers. HSBC has leveraged an IT-enabled financial inclusion eCard solution in rural India to help a women’s cooperative bank. However. This is important as 40-50 percent of Indians still don’t have a bank account. he’ll need to do it just once. We will be able to simplify the entire KYC process with the electronic model. there are multiple ways by which money can move through banks. Go to Questions CIO: What is the role of a foreign bank in helping the cause of financial inclusion? Naina Lal Kidwai: What we are going to see in the spirit of financial inclusion is an ease of opening bank accounts for the financially excluded. The emphasis on security of information will also mean that the customer will have to put in more effort when he fulfills the KYC norms. otherwise. and our India team reporting to Hong Kong. The counter-point to this is that banks are also going to be far more security-conscious. Our CIO is on the board of our IT company in India so that he has moral authority to understand what is happening right under his nose. needs to be understood as well. and this goes beyond what you do in-house. the CIO needs to keep an eye on what the competition is doing. so that we can pick up on that. These are groups that do not have the capability to do Internet banking. And if we can’t. Externally. But the Aadhaar card will help in this regard as the RBI has said it will be accepted as proof of identification. the CIO needs to be constantly aware of the next wave of technology. The CIO obviously can’t do everything himself. It may not be a technology we can implement. At the end of the day.

You can have small banks which have every reason to exist because of the niche they serve. Ultimately. consolidate others. I am also pretty sure that we do not need 70 percent of the banking sector to be government-owned. India needs a bigger banking sector and that will come in two ways: More big banks and more banks in general. For a large economy like ours. This is not asking for much. . Some banks outlive their utility and their strength comes in being absorbed by others.Go to Questions CIO: Is consolidation really inevitable in the banking sector? Naina Lal Kidwai: Consolidation will happen and it is good that it is happening. That’s a big problem for the government as it has to keep pumping money into these banks. You need a variety of banks but at least two or three banks should make it into the top 50 banks in the world. competition is good for the customer and it definitely strengthens the banking sector. Consolidation is a natural process. Let the government own some—say the SBI—but why 70 percent of the banking sector? There is certainly room for the government to shed some of the public sector banks. we need bigger banks that stack up in the context of global scale. it doesn’t always have to be just big banks. So. and allow for a mix of healthy private sector banks which provide a competitive landscape.

She is the CEO of HSBC India. India’s IT economy generates of 11 million jobs per year. she chooses to tell us about “dabbawallas” – food deliverymen who pick up homecooked meals and deliver them right into the offices.php/economics/comments/learning-lessons-fromnaina-lal-kidwai Last night at The Worshipful Company of World Traders’ Annual Tacitus Lecture. First of all. Both India and China are facing a water crisis and this is only to be compounded by future population growth. February 29. On climate change. should it occur. especially the BPO sector which survives on wafer-thin profit margins.tutor2u. 2008 http://www. she is a proponent of cleaner. and Fortune magazine listed her as the 34th Top Women In Business. she assures us that a US consumer India’s domestic markets are very much alive and well. greener energy and co-operating with other nations. and she is a perfect example of an outright defiance of that. On business innovation. Naina Lal Kidwai spoke on “India’s emerging role in the global economy”. she is not so hopelessly optimistic as to overlook some of India’s areas of concern. It’s an intricate system. would have minimal effects on India since exports only represent 20% of India’s GDP and importers would benefit from cheaper costs. India had the highest positive response rate in HSBC’s Global Climate Confidence Index (the UK came last). She also mentions other areas of Indian growth such as the M&A markets and telecommunications and doesn’t neglect to point out that improving Japanese-Indian and Sino-Indian relationships will play a major factor in India’s future in the global economy. In fact. .Case study Learning Lessons from: Naina Lal Kidwai Friday. more than any other emerging country. the first Indian woman to graduate from Harvard Business School. she says that it should be aiming even higher for a growth rate of 10%. or only one missing meal per six million delivered! However. Inflation is another issue for India. I’m sure you’ve all been learning about the “glass ceiling effect” in your Work & Leisure modules. The rupee has been rapidly appreciating and this could be lethal to certain Indian export industries. another $500 billion worth (!) according to the Government’s estimates. She highlights India’s most famous exports in IT and BPOs (Business Process Outsourcing). Her prescription to India’s lack of infrastructure is further investment. essentially FedEx for food. always striving for betterment. especially food and fuel prices which will especially impact the poor. but manages to run astoundingly accurately without any use of computer technology. Forbes magazine awarded them a 6 Sigma rating – meaning accuracy to a percentage of at least 99. Even Thomas Friedman admits in his book “The World Is Flat” that it was India’s army of highly skilled technology workers and its abundance of fibre-optic cables which contributed to a more level global economic playing field.999999%. However.

These cells should be manned by women officers and clerks. with continued focus on more inclusive growth. Personally she would like to see an accelerated growth rate so that the change at the bottom of the pyramid is faster. getting jobs and becoming financially independent. 2. She concludes that despite the challenges that lie ahead. A subsidy may be given to the product manufacture by women enterprise. she has reasons to be optimistic: more women are getting educated. special cells may be opened for providing easy finance to women entrepreneurs. opportunities in India are endless. Microfinance in India has been a remarkable success and contributes to not just an alleviation of poverty. but also positive social effects within the community. Financial cells : In various public financial institution and banks. Marketing co-operatives : Encouragement and assistance should provide to women entrepreneurs for setting up co-operative will provides inputs women enterprise and sell the product at remunerative price. . 3. REMEDIES TO SOLVE THE PROBLEM OF WOMEN ENTREPRENEURS 1. Supply of raw materials: scarce and improved raw material may be made available to women entrepreneurs on priority basis.On social issues such as gender and class divides.

"Water Use and Efficiency in Thermal Power Plants". Training facility: Training and skills are essential for the development of entrepreneurship. now is the time for planning the future requirement of water and power for consumption by the society in the future. . FUTURE PLAN Government needs to plan for future water and power consumption Water requirements will increase significantly once the proposed thermal power plants in many parts of India become operational. Based on a report. had made some vital comments in the recent past on the demand for water in future . it was highlighted based on this report power generation will require 33 billion cubic metres(bcm) of wter in 2025 and about 70 bcm in 2050. Other suggestions involving experts could be also found out. power generation through thermal power plant route will necessitate usage of large quantities of water for India in the future. Elders needs to girls and their due to role in society.while releasing a report titled.4. and also head of the water group at the Federation of India Chambers of Commerce and Industry (FICCI). Ms. country head at HSBC in India. Perhaps. Training schemes should design that women can take full advantage. Educational awareness: It is necessary to charge the negative social attitude towards women. 5. Naina Lal Kidwai.

com) (Vasant desai.CONCLUSION Matching the basic qualities required for entrepreneur and the basic character of Indian women reveal that much potential is available among the Indian women on their entrepreneurial ability. the waywomenwork. Women have all the disposition of becoming a successful entrepreneur just identify passion and start living it. BIBLIOGRAPHY http://newsle. 2011 .dpuf ASIA (May 31.D3q2y2VV. This potential is to be recognized and exposed for utilization in production and service sector for the development of the (Review first post business 13-8-2013) (By SiliconIndia | Wednesday. 24 July 2013) . Entrepreneurial development) (The economics times. 30-8-2013) Read more at: http://www.

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