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Customer

Relationship
Marketing
Report

Assessment 1

7031MKT Relationship Marketing
Griffith University

13 September 2018

“ Business Chicks is all about relationships.

It’s about seeing people and trying to work out what’s important to them.

It’s about building trust.

The relationship thing is about personalising everything as much as you can.

And be kind to everyone you meet.

Part of our secret sauce is the beautiful friendships we have with people and it has taken

years and years to build these relationships.

I’m willing to be patient to build trust.

Emma Isaacs, Founder & Global CEO, Business Chicks

which is the prime concern of customer relationship marketing. are presented. Following are recommendations from a customer relationship marketing system database perspective to assist this firm in the formulation of their future communication relationship policy. Research shows that companies run by women are underrepresented when it comes to accessing financial capital and performing business growth and these female entrepreneurs join networking groups to build relationships to access resources (Refer Appendix 2). 102). Spiller & Noci. and Women’s Network Australia. Barney (1991) states that whether or not a competitive advantage will be sustained “depends upon … competitive duplication” (p. This firm recognizes that it is their customer’s experiences that are essential in the process of mutual value creation (Gentile. One network that has the capabilities to offer resources to these entrepreneurs is Business Chicks. However. Introduction Women now run the world economy (Refer Appendix 1). Their customers are seen as their raison d’être (Peelen. Australia’s largest female-focused networking organisation in Australia. according to Rowe & Barnes (1998). The report concludes with Business Chick’s competitive advantages. Secondary research uncovered a multitude of female networking business in Australia and for the purpose of this report. information on two key competitors: Gold Coast Girls in Business. provides companies with a competitive advantage. Business Chicks follow the customer-intimacy value discipline devised by Treacy and Wiersema (1993) to establish. . 2007). maintain and enhance mutually profitable long-term relationships. They concentrate on relationship marketing that. 2005) and provide the inspiration to further improve company performance.

educate and inspire them to build profitable businesses that create employment and opportunities for other women (Refer Figure 2). Organisation Business Chicks is the largest subscription-based female-focused networking business in Australia.com. high profile international celebrities and extremely successful women entrepreneurs. Figure 1. Events by Business Chicks SOURCE: businesschicks. These events showcase keynote speakers who are thought-leaders. Business Chicks also partner with not-for-profit The Hunger Project and publish a print magazine that chronicles the successes of Australian businesswomen. It has the capabilities to transform its resources to produce 145 sell-out events annually (Figure 1) for its members in 11 cities across Australia (Appendix 3). there’s not just one woman who has your back.au When you’re a member of Business Chicks. there are thousands. . The organisation’s objective is to network with these women to build relationships with them and to connect. support.

com. 2004). Figure 2. Inkson and Pringle. 1999. 1994. 2000). 1995. Arthur.Developing interpersonal relationships through networking is considered to be a specific career competency vital for managing one’s career (Arthur.au . Claman and DeFillippi. Business Chick’s Website About Us Page SOURCE: businesschicks. cited in Forret and Dougherty. DeFillippi and Arthur. that constitutes a valuable resource (Forret and Dougherty. profitability and market knowledge (Singh. 2004) and the value of successful networking includes increased productivity. and social capital.

according to Peelen (2005). Treacy and Wiersema. Kitler and Andreasen. 1988. Kotler and 1984. 1996. and. successful companies predominantly follow one of these values disciplines to achieve a competitive advantage (Christopher. Webster. cited in Peelen & Beltman. 1992. 1985. 2005. The culture of the firm is relationship-orientated. 2008. Peters and Austin. 1990. “it is not recommended to combine the three disciplines [because] it is difficult to excel in every area” (p. This model posits that successful firms focus on a product leadership. Peters and Waterman. avoid . 1982. 1996). 2000. p. 51) with its customers and has grown a 250K+ social media following and a membership of 45. 21) ensuring satisfaction. promote an entrepreneurial/creative team-oriented culture. Firms that follow a product leadership strategy create functional/instrumental value. according to Rowe and Barnes (1998). p. Morgan and Hunt (1999). 2016. Emma Isaacs CEO. however. From its inception in 2005 it positioned itself as a partner (Peelen. p. 2005. Shapiro. resulting in brand loyalty (Bell. 2003). They deliver superior customer value in line with the value discipline model advanced by Treacy and Wiersema (1993). Employees are emotionally involved and make extra efforts in the interest of customer relationships (Horovitz and Panak. They concentrate on relationship marketing that. 1987. cited in Yim. 1993). operational excellence or a customer intimacy strategy (Wigg. trust and commitment and a multi-million dollar turnover year after year (Refer Appendix 4). 72) and have effectively created the necessary behaviours for the creation of superior value for their customers and superior performance for the firm (Aaker. These strategies are not mutually exclusive. take risks. It is a customer-centric business built around the customer (Chen and Popvich. 1988. Smith and Colgate. et al.Business Chicks has quickly evolved to become a recognizable and distinctive market-orientated firm due to their social capital and have earned an excellent reputation within the women’s networking category. Their strategy is to continually innovate. 2007.000. under the direction of strong leader. p. cited in Narver and Slater. 743). They offer exceptional service. 1990. 52). Peelen. provides companies with a competitive advantage. Kohil and Jaworski. 1988. and Tzokas and Saren (2004).

and to relentlessly pursue new solutions to problems their own products/services just solved. purchasing. defines what a company does and therefore what it is” (p.” according to Treacy and Wiersema (1995). 54) and it mediates relationship marketing’s central trust-commitment link (Kai-Uwe Brock. p. and then customises its offerings to fulfil the needs/wants of this identified niche (Treacy and Wiersema. cited in Barnes. 1993. Firms that compete by creating superior cost/sacrifice value follow an operational excellence strategy. “is a central act that shapes every subsequent plan and decision a company makes. customer- intimacy. These firms do not spend time on one-to-one relationships with customers. 1994: Rowe & Barnes. colouring the entire organisation … The choice of a value discipline. Peelen. implement tomorrow (Treacy and Wiersema. 1993). in effect. 2005. They decide today. “The selection of a value discipline. 2007). This value discipline is a defensive strategy which focuses on customer retention (Peelen. 1996. strategically segmented and precisely targeted. 1993. never compromise on price. They invest in. 60). . Customer-intimate companies focus on: building long‐term relationships with customers particularly through a focus on service (Christopher. 2005. and excel at. 1993). manufacturing and distribution processes thereby providing customers with competitively priced reliable products and problem-free service. Business Chicks pursue the third value discipline devised by Treacy and Wiersema (1993). 2). p. using customer knowledge with information technology to maintain detailed information about customers (Treacy & Wiersema. Smith and Colgate. The business model behind this value proposition focuses on achieving cost leadership (Treacy and Wiersema. 1998) that the firm.bureaucracy. 2012).

cited in Farr-Wharton & Brunetto. 5). as recommended by Peelen (2005. 2007. maintain and enhance mutually profitable long-term relationships. 232). 1995. Customer Relationship Management Business Chicks do customer relationship management (CRM). 2016. they cultivate relationships” (Treacy and Wiersema. as conceptualised in Figure 3. 2001. measurable. p. is desirable for the realisation of a CRM strategy. which is the prime concern of CRM (Berry. Buyer Persona This buyer persona only provides limited insight into the customer as a buyer. . 2003. 2003. They personalise their offerings. 2006.female entrepreneurs (Refer Appendix 5 & 6). 1999. They offer an individualised value proposition to establish. even though “there is no single way to segment a market” (Martin. p. according to Hayzlett (2017). As such. 1996). Business Chicks strategically customizes and personalises their offerings to a “differentiable. Moreover. Harker. p. Ravald & Grönroos. Chen & Popovich. who are. 16). user or a person. Figure 3. They “don’t pursue transactions. accessible. further profiling. actionable. p. 188). p. 262) homogenous segment . 226). and substantial” (Kotler and Keller. the objective of segmentation is to divide customers into homogeneous groups (Peelen and Beltman. the “fastest growing segment of entrepreneurship” and who own one third of all businesses in the developed world (Reibe. 1995. p.

They experience true customer dialogue in “real-time” on social networking platforms (SNP). processes and social characteristics designed to engage the customer in a collaborative conversation in order to provide mutually beneficial value in a trusted and transparent environment” (p. To maintain relationships with the customer cluster who subscribe to their website newsletters and who follow them on social media (Refer Figure 4). They initiate bilateral relationships on social media. Examples of Engagement on Instagram SOURCE: Instagram . 1991. This social CRM. 88). 25 cited in Lindgreen. which is an asset measure (Blattberg and Deighton. 2001. Liu & Shih. They also cross-sell events. 76). and freely allow customers to co-create their brand on online communities. and whom represent a low value to the supplier in terms of financial exchange for services. p. This is a concept Business Chick’s understands well. is “supported by technology platforms. Business Chicks interweave multichannels to form a network of touchpoints to cultivate customer-intimacy. In fact. p. is satisfied customers. in which Peelen and Beltman (2016) refers to as a philosophy and business strategy. 2013. 35). Figure 4. 59) because enhancing the service experience for existing customers is important for long-term success (Berry.The basic premise behind CRM is it pays to retain your customers (Peelen & Beltman. who recommend this market-leader to others. masterclasses and premium membership subscriptions in personalised email direct marketing. 2005) because the firm also understands “the difference between profit or loss on a single transaction over a lifetime … with a single customer” (Treacy & Weirsema. 1983. 1993. p. They look at the customer lifetime value (CLV) of their customer. p. what is evident in this dialogue.

Examples of Engagement on Instagram SOURCE: Instagram Business Chicks creates further customer value through ‘idyllic situations’ (Peelen & Beltman. Figure 5. . 2016. Examples of this are the annual Leadership Gathering (Refer Figure 6) on Richard Branson’s private island. p 39) for their ‘right customers’ (Premium and PowerPlayer Members). their PowerPlayers mastermind relationship experiences (Refer Figure 7). where the firm gets to know them personally. and their exclusive annual conferences held at exotic locations around the world (Refer Figure 8).

FIGURE 6.com .businesschicks. Idyllic Situations for the ‘Right Customer’ – Mentoring by the World’s Best Impresarios SOURCE: www.

PowerPlayers Peer-to-Peer Mentoring SOURCE: www.businesschicks.FIGURE 7.com .

com .FIGURE 8. Exclusive Annual Conference for Premium Members SOURCE: www.businesschicks.

Underpinning this is the concept of brand values . these competitors also do relationship marketing. consumer-brand relationships and brand loyalty (Kressmann. which is at the heart of CRM.What contributes to the creation of customer value for their members is not. who continue to deliver superior customer value through customer-intimate experiences due to their capabilities. 2000). Huber and Lee. 2003) or. Sirgy. over the past 10 years there has been a sharp increase in the number of women’s networking groups (Khoo. 2003) through customer intimacy. 1996. Plummer. 1996. “The success of a CRM strategy also depends on the competition encountered in the market” (Peelen. however. 102). Business Chicks has imbued their brand with a distinct brand personality. This is a subjective view. nonetheless. resources and social capital has essentially the competitive advantage of a barrier-to-entry that is difficult to surmount by competitors. cited in Chen and Chen. It is posited that this approach to managing relationships with their loyal customers is focusing on customer retention. to co-create her own unique experience with the company. p. Huber. Competitors It can be reasoned that Business Chicks. . cited in Park and Lee. However. even beyond her expectations (LaSalle and Britton. An exploration of women’s networking groups has uncovered that the brand personality of competitors is lack-lustre. according to the viewpoint of Prahalad and Ramaswamy (2004). p. so much the selling of memorable experiences but enabling the customer to live all the moments of the relationship with a company in an intimate way. 2005). 2006).that what makes a brand a brand is its ‘personality’ (Christopher. Herrmann. 1991. which is far less costly than acquisition cost (Kotler. and members exhibit favourable feelings towards …[a brand]… when a brand personality is congruent with their own self-image (Chang. 1994. p. 2001. 4178) and relationship development (Chen & Popovich. Park and Choi. However. 2011). 2005. 2009. Peppers and Rogers. 57) and it also “depends upon … competitive duplication” (Barney.

GCGIB has becomes ‘friends’ with their members and empirically. strategically segmented by demographics and since starting business 10 months ago has 18. and it’s growing fast. capabilities and access to resources. 2009. cited in Schivinski and Dabrowski. 59).One such key competitor is Gold Coast Girls in Business (GCGIB) (Refer Figure 9). p. The members co-create GCGIB through multichannels and user-generated content (UGC) and discussions can create powerful communities that facilitate interactions (Winer. memberships for GCGIB is growing. 2013. 2016. “personal networks are seen as a more support asset than business networks” (Bogren et al. GCGIB members recommend this networking organisation to others and as Reichheld (2005) proposed. 2013). “the long-term sustainable growth [of a firm] is influenced by the intensity with which customers are likely to recommend it” (cited in Peelen & Beltman. intangible or otherwise. this key competitor. Gold Coast Business Chicks Facebook Community Group post and website . that Business Chicks possess and “access to resources seems to be critical for growth” (Bogren et al. Obviously. Furthermore.000 online followers. p. In fact. Moreover. 2016). with its similar brand personality. This firm does not have the social capital. It has the necessary points-of-parity to enable it to compete because it imitated the business model of Business Chicks. FIGURE 9. 61).

with a smaller loyal base can leapfrog a firm with a larger loyal base” (Chen. FIGURE 10.In an industry which “has low barriers-to-entry and which a high level of targetability can be quickly achieved. 36) and this is precisely what Business Chicks did to Women’s Network Australia (WNA). they thrive especially well in environments where they can connect with professionals who are open to sharing their personal stories. 1988). WNA was the leading women’s national networking organising (Refer Figure 10) in Australia for 30 years and has the “first-mover advantage” (Lieberman & Montgomery. p. have the membership numbers Business Chicks now enjoy. Narasimhan and Zhang. it does not have much online UGC and women networkers do say. WNA does. 2001). Women’s Network Australia Website Home Page . and surprisingly. however. a firm. It does not.

. through relationship marketing. Janelle Bostock CEO. retain and cross-sell their memberships and events. These technology-based solutions assist CRM – namely CRM systems – to manage these relationships (Jayachandran. GCGIB memberships are $15 per month with no benefits except for discounts on their events. 2005). ABS for the Office of Women. enjoy the resources and capabilities to become the market leader again.nevertheless. WNA have just launched an e-Magazine to help connect with these women. Last year WNA was bought by a strong entrepreneurial leader. Moreover. These firms and hundreds of other women’s networking organisations are all vying to capture members. Sharma. Both the numerator and the denominator of this ratio should be measured relative to competitive offers (Christopher.3% of women business operators lived in remote areas. communications with individual customers is becoming increasingly affordable and easy when enhancing customer value. Their membership structure is similar to Business Chicks with a basic membership starting from $249 per annum with all the benefits that Business Chicks offer for $199. Therefore. 2005). 1996). because of the likelihood of high profitability whilst exhibiting altruistic behaviour. ABS for the Office of Women. 2005) and women in rural and remote locations (31% live in regional and 2. the marketing task is to find ways to enhance customer value by improving the perceived benefits and/or reducing costs of membership. 2005). They want to capture. They also target the more mature female entrepreneur (78% of female SMEs owners are over 40 years old. ABS for the Office of Women. Ms Bostock segmented the market again searching for opportunities in the macro-environment and is now targeting entrepreneurial women who work from home (47% of entrepreneurs work from home. Kaufman and Raman. WNAs brand personality is conservative and professional vis-à-vis target market. 2005) and a critical factor for developing customer-intimacy through personalised communications is the ability of the firm to truly understand customer’s needs (Akcura and Srinivasan. because of rapid strides in information technology (IT) due to the rapid advances in information technology (IT). who rebranded the business “to deliver a fresh new look”.

we want you to know that the entire Business Chicks community has your back’. and subsequently: o subscribe to their website. and in which segment she will be categorised in their CRM IT system. 2018). Business Chicks send out an automated personalised email to subscribers welcoming them to the network and it includes “whatever it is you’re here for. Therefore. The information about customer clusters in databases assists the customer-centric business. 686) to different clusters which the software categories. Evaluation & Recommendations CRM IT software systems are effective for understanding consumers needs by way of data mining. This is when customers first discover Business Chicks value proposition. If ‘feels’ like it’s not personalised enough to truly start the development of customer-intimacy and to “gain loyal customers. p. The first touchpoint is during the ‘exploratory phase’. it is recommended that Business Chicks include in their relationship communication policy (RCP) that these emails include ‘getting to know you’ questions that prompt a reply because Business Chicks does not know yet what type of potential the subscriber represents. It is recommended Business Chicks’ welcome email include the questions: . 2003. to proactively and consistently offer and cross-sell more services (Chen and Popovich. Currently. which Business Chicks is. and/or o ask to join their Facebook community. brands need to connect with customers as real people” (Tyson. and further develop customer-intimacy by way of the customer’s channel choice at different touchpoints in their customer journey.

p. 2005. 2005. nonetheless. personal and memorable to customers and that contribute to their commitment (Peelen and Beltman. however. 2009) and “studies have indicated that feeling gratitude has the potential to encourage future economic exchanges and produce positive relational outcomes” (Morales. Because communications geared towards the realisation of a subsequent transaction (i. 2014. It’s now possible to screen new members with questionnaires (Refer Figure 11) . Soscia. Also. 2005). Weman and Pihlström. according to social exchange theory. 2016). it is recommended the same experiment be instigated for the cluster of customers who ask to join their Facebook online community group (FBCG) because studies have shown a positive link between online brand community participation and customer loyalty (Algesheimer. but have indicated. Bechkoff and Kardes. 2005. paid membership) is believed to be a crucial component in the growth phase (Peelen. Similarly. these questions could be included in the opt-in form on their website. Lings. gifts generate gratitude that have a direct positive impact on customer-perceived-value (Hasan. Furthermore. Either way. 2016. To reduce costs. this latter recommendation does not start true dialogue with the subscriber. The number of website subscribers who receive the magazine and subsequently pay for membership can be calculated to see the cost/benefit to the firm of this ‘experiment’. this data collated will assist Business Chicks to personalise customised customer- intimate experiences at subsequent touchpoints “that are unique. it is recommended that Business Chick’s Latte magazine be sent as a gift to the cluster of website subscribers. Either way. cited in Munnukka. Palmatier. “the two-way exchange of information is an indispensable element to a [relationship] policy whose priority is the development of long-lasting relationships” (Peelen. Gummerus. 2012.. cited in Hasan et al. reciprocity forms the basis for relationships (Peelen. in their reply to the welcome email that they are interested in a paid subscription. 171). Jarvis. who still at this stage represent a low value to the firm in terms of lifetime value. 2007.Alternatively. Karjaluoto and Tikkanen. 2014. p. Dholakia and Herrmann. Neale and Mortimer.e. 791). Peelen and Beltman. p. Liljander. 2005. during this exploratory phase. the magazine would be a digital copy. 2005). 259).

it is recommended that Business Chicks repost selfies to their Instagram. because any opportunities to exceed customer expectations need to be seized during this growth phase (Peelen. there are limited posts that champion the customer. It is proposed the recipient will feel gratuitous and as discussed. where people take photos of themselves at events. As discussed previously. Screening New Memberships on Facebook Groups SOURCE: techcrunch. WNA welcomes new members on their FBCG and it is proposed Business Chicks do the same.4K members. known as ‘selfies’. 171). no welcome message is posted for new members who are in this growth phase of the relationship lifecycle and an “analysis of a great many customer databases has shown that customer churn is high among customers who have not yet developed a long-term relationship with the supplier” (Peelen. however. there is high engagement on this SNP. The range of channels that Business Chicks utilise extends to Instagram. however. 2005. Because there is a cultural fascination with SNP forms of self-portraiture (Murray.com Business Chick’s FBCG has 12. p. . FIGURE 11. p. 2015). 171). 2005.

like they did with keynote speaker. Customization increases perceived service quality.P card (Refer Figure 12) for complementary entry to events. The success of these programs lies in providing customers with specific rewards.P Card Knowledge of the customer has been considered the most valuable strategic resource of a firm (Zack. Kate Hudson. can quickly customise an offering to fulfil a special need and excel in customer-intimacy. Figure 12. 2012). 2016) have shown that customers who are acquired via a ‘member-get-member’ promotion stay and develop into above average profitable customers. McKeen and Singh.I. V. “the relationship thing is all about personalising everything as much as you can. Studies by Verbeke. customer satisfaction and trust. CEO of Business Chicks explained. Peelen and Brand (1995). promotion of their business on SNP and an invitation could be extended to them to personally meet and greet keynote speakers. It is therefore further recommended that Business Chicks collect personal data via data mining and questionnaires at their events about their members. and brand loyalty (Coelho and Henseler.” The abovementioned recommendations are only tactical recommendations that could be included in Business Chick’s RCP for the exploratory and growth stages. so they delivered one to her hotel every day. Business Chicks knew this celebrity loved Australian green juices. A reward could be: a V. so they can customise the experiences. Ms Hudson appreciated the personalised gesture and as Emma Isaacs. and further recommendations are . cited in Peelen (2005.gratitude positively impacts customer-perceived-value. 2009) and Treacy and Wiersema (1993) state that companies that combine detailed customer knowledge and operational flexibility.I. Promotions could be held on SNP and at events and members-who- get-members could be rewarded through a loyalty program. Business Chicks will have to expend even more effort than this though during the growth phase.

1997. well in to the future and if they . the decline phase.I. Huber and Lee. the saturation phase.” (Zack. 2005.beyond the scope of this report. only offer this highly successful enterprise sources of competitive advantage (Rowe & Barnes. it is recommended that Business Chicks delight their members before the next phase. 2013). Sirgy.. with access to financial capital and further delight them with a V. 2009. 2007). will be up to Business Chick’s ability to exploit these resources and capabilities. "Organisations that enjoy knowledge superiority today may find themselves at a competitive disadvantage in the future if their competitors are more capable of learning within similar domains. And finally. and previous studies show that affiliation with a single network is highly related to profitability for women entrepreneurs (Lerner et al.  charismatic leader of the firm. Business Chicks should continually identify the self-concept of their target market and evolve the brand personality to match the self-concept of their consumers (Kressmann. Whether or not it will be sustained. Furthermore. which are complex and interdependent. 1998). During the next phase of the customer lifecycle. Business Chicks have created a socially-complex phenomena that competitors are attempting to simultaneously emulate due to low barriers to entry. 397). Studies by Gatewood et al. Huber. p. cited in Bogren et al. yet the:  management talent and interpersonal relations among managers. and the  valuable and rare resources obtained due to its unique path history. McKeen & Singh. Therefore. switching costs increase for the customer and trust grows (Peelen and Beltman. cited in Zach. In summary. 2006).  organization’s reputation. 2016) and trust is such an important variable in affecting women entrepreneurs' networking behaviour (Farr-Wharton & Brunetto.  company culture. Herrmann. (2009) show that women use networks to search for financial capital. the relationship has taken shape and the ideal customers are discovered.P membership with all its privileges to regain trust and to retain the customer for life.

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and work and home encourage love and connection will benefit Women will increasingly resist being Few companies have stereotyped. undifferentiated from men While it’s important not to stereotype women. them worse. responded to their Women represent a segmented only by age need for time-saving growth market bigger or income. They also will underestimated in the take the time to review workplace and help that next wave of consumers https://hbr. protect and control about point in their early preserve the $20 trillion in annual forties.. For example.Appendix 1 W omen Now Drive the World Economy Brands that—directly Women are happiest in or indirectly—promote their early and later physical and emotional Globally. home. female consumer work.org/2009/09/the-female-economy . lumped solutions or for than China and India together into an “all products and services combined women” designed specifically for characterization. provide consumer spending face the greatest education and care for challenges in managing the needy. hat’s when they environment.. or. Women have too many there are some It would be foolish to demands on their time common threads ignore or and constantly juggle between the female underestimate the conflicting priorities— audience. and family the power of word of mouth marketing among females 90% of our female audience makes a point Women still appear to to pass along deals and be undervalued in the Women feel vastly information to other marketplace and SOURCE: underserved women. women years and their lowest well-being.

. Note that it is not a decrease in hours worked that women seek. Y. At the start‐up stages of a business: “Networks” and “advice from significant other” are the two most important sources of information based on usefulness. but rather the flexibility to accomplish goals on their own terms. J. pp. Farr-Wharton. 22 Issue: 3. Vol. and where their work gets done. but it also gives them the power to decide when. It not only allows women to have careers that are vital and challenging. 17 Quantitative findings also suggest the reason why women entrepreneurs belong to formal business networks is to search for financial capital and business opportunities.au/10. 5(2). Women in Management Review. how. https://doi-org.griffith. E. rate of usage and cost.edu. SOURCES: Amorós.” Amoros & Bosma. 2014.1108/09649420710743653 .. Bosma. Ten years of global entrepreneurship monitor: Accomplishments and prospects. & Levie. opportunity recognition and government‐sponsored business networks: A social capital perspective". N. Brunetto.. 120-152..Appendix 2 WHY DO WOMEN ENTREPRENEURS NETWORK? Control over working To be their conditions own boss 30% 36% Financial gains 34% “. (2013).187- 207. J. (2007) "Women entrepreneurs. becoming an entrepreneur appears to provide a solution to the problem of maintaining a balance between work and family responsibilities. p.libraryproxy.. International Journal of Entrepreneurial Venturing.

Appendix 3 9 to Thrive – one of the many events by Business Chicks .

SOURCE: smh.html . memberships alone bring in $9 million annually while the majority of the networking group's revenue is made from the 125 events a year it puts on. which range from lunches for up to 500 people at $200 a ticket to exclusive retreats which cost over $3000 to attend.com. Business Chicks recently launched its PowerPlayers network. These 60 members pay each pay $599 per month for membership. at $200 each. Brands such as Toyota and American Express acknowledges that Business Chicks has an engaged audience and revenue is made from these companies through advertising.au/business/small-business/the-truth-about-the-new-business-womens-networks-20111124-1nvqd.Appendix 4 Emma Isaacs founded Business Chicks 11 years ago and while she won't reveal turnover.

3 million employed Australian women. is now actively involved in managing it.5% of the 5.8% of Australian women are involved in setting up a new business or owned a newly founded business 42% start their business with less than $5. owns at least 50 per cent of it and has been in operations for longer than a year. 7. Women make up just over a third of all Australian business operators (34% or 668.Appendix 5 The Female Business Owner Within the women's entrepreneurship literature.000 (58% of women say they would start their own business but don’t because of lack of finance) Those women in couple relationships with younger dependent children are the most likely to be business operators and single women least likely to be so 50% return to be an employee after 5 years Proportion of Women Business Operators by Age 15-39 years 28% 40-54 years 44% over 55 years 28% . DEMOGRAPHICS: There has been a 46% increase in the number of women business operators over the past two decades.670 women) and represent 12. a women entrepreneur is defined as a person who has used her knowledge and resources to develop or create a new business opportunity.

Appendix 5 cont … Proportion of Business Operators by Proportion of Women State or Territory Business Operators by TAS NT ACT Education 3% 1% 2% WA Year 10 or 11% NSW Cert I or II 31% or below SA 20% Bachelor or 7% Postgrad 29% Year 11 8% QLD 21% VIC Year 12 24% 17% Cert III Advanced or IV Diploma or 12% Diploma 14% 81% are married or defacto 7% are sole parents 9% have three or more children under 15 6% are primary carers of a person with a disability They are more likely to have dependent children 30% born overseas 52% do voluntary work for an organisation or group 12% have a disability Women Business Operators by Industry Accommodation House Construction Takeaway Food Service Mngmt Advice & Consulting Services Cafes/Restaurants Child Care Services Accounting Services Building & Cleaning Services Health Services Hairdressing & Beauty Servies 0 5000 10000 15000 20000 25000 30000 .

formal or non-formal training The average weekly income for: unincorporated businesses .$423 incorporated businesses .Appendix 5 cont … 8% of women business operators had more than one job 53% work part-time 47% work full-time 19% work more than 49 hours pw 30% work more than 5 days per week 64% do not employ staff 24% say they want to grow their business large than 5 employees within 5 years 6% aim to internationalise their business Women with internationalised businesses are much more likely to work longer hours.$998 They have a higher net worth than female employees Less likely to have superannuation 49% live in large houses (four or more bedrooms) 33% own their houses outright They are more likely to live in areas of less disadvantage They have higher job satisfaction than all other female workers. and only 7% have dependent children 37% do some form of organised. even when they are least satisfied with their pay Top 20 Occupations of Femal Business Operators Mixed Crop & Livestock Farmer Beef Cattle Farmer Massage Therapist Accountant Family Day Care Worker Commerical Clearner Salesperson Secreatiry General Clerk Bookkeeper 0 10000 20000 30000 40000 50000 60000 70000 80000 90000 .

nsw.Appendix 5 cont … 66% of women's start-up funds were sourced from personal savings and 25% from a credit card or bank loan 47% mainly work from home Are likely to report moderate or high debt levels 7% of female employees change from being a business operator to be an employee 78% start a business.com.gov. 12% buy one.au/__data/assets/pdf_file/0005/81968/fact-sheet-women-in-business.au/finance/economy/more-australian-women-are-business-owners/ .smartcompany. and 11% acquired the business in another way.pdf https://www.industry.5 hours per week (in all jobs) with 80% being satisfied with their working hours 93% feel their work enables them to meet their family and community responsibilities 40% feel they are rushed or pressed for time because they have taken too much on SOURCES: https://www.au/resource-centre/office-women/profile-australian-women-business https://www. such as inheriting it The average number of hours usually worked by women business operators is 31.gov.pmc.

(1989). 115). Entrepreneurship/intrapreneurship. How do self-attributed and implicit motives differ? Psychological Review. 1989. J. D. Academy of Management Review. D.692). SOURCES: Bowen. The Power Motive. 45. & Weinberger. New York: Macmillan . 1973. 96. 114). 2nd ed. 393-407. D. & Dingee. Extensive research over four decades into the characteristics of entrepreneurs has established that the innate (early- learned) need for achievement is essential (McClelland. (1985).. According to Timmons. D. control or influence over another person. Koestner & Weinberger. p. Winter. C. Female entrepreneurs need to have impact. As a venture enters a growth phase. the successful entrepreneur as someone who can 'get things done through other people' (p. IL: Irwin. Smollen & Dingee (1985). group or the world at large and “possess power motivated characteristics” (Winter. 11. New Venture Creation. 73). American Psychologist. p. (1990). L. (1973). J. or 31.5 per cent of the entire population of small business proprietors. 209-222. 1990. Hisrich. D. D. The female entrepreneur: A career development perspective. McClelland. R. Smollen. & Hisrich. A. (1986).Appendix 6 PSYCHOGRAPHICS Entrepreneurship is a career option for women: there are 255 500 women in business in Australia. p. there is an increasing need for entrepreneurs to have managerial skills (Hisrich. Koestner. Bowen & Hisrich (1986) state that “no firm conclusions on the need achievement of female entrepreneurs can be drawn” (p.. Homewood. 215). However. 690-702 Timmons. R. R.