Functions of Women Entrepreneurs
Women Entrepreneur is not different from the concept of Entrepreneur, all the concept characteristics & functions are applicable to Women Entrepreneurs. The role of women in family & society is changing very fast. Those days gone when typically women expected to look after household activities change in various social aspects like equal treatment to women, no discrimination between males & females availability of equal opportunities to work in any field slowly these changes have forced her to become more competitive & also encouraged into business operations.
After the II world war, there was a phenomenal increase in the number of self-employed women around the world. The women entrepreneur is defined as a group of women who organize & operate a business enterprise. Women entrepreneurs are expected to innovate imitate to adopt economic activities. The government of India has defined “An enterprise run by an entrepreneur which is owned & controlled by women having a minimum financial interest of 51% of capital& given at least 51% of employment to the women
Functions of woman entrepreneurs
1. Planning
Planning is the basic managerial function of a woman entrepreneur. It helps in determining the course of action for achieving various entrepreneurial objectives like what to do when to do it, how to do it, and who will do a particular task.
2. Organizing
Every woman entrepreneur needs personnel to look at the different aspects of the enterprise. She sets up the objectives, and goals to be achieved by its personnel. The function of organizing is to arrange, guide, coordinate, direct, and control the activities of other factors of production i.e. men, materials, money, and machines so as to accomplish the objectives of the enterprise.
3. Staffing:
Every woman entrepreneur has to perform the function of staffing which includes manpower planning, recruitment, selection, and training, placement of manpower, development, promotion, transfer, appraisal, and determination of employee remuneration.
4. Directing
Directing is concerned with carrying out the desired plans. It initiates organized and planned activities and ensures effective performance by subordinates toward the accomplishment of group activities.
5. Leadership
A woman entrepreneur has to issue various orders and instructions and guide her subordinates in their work to improve their performance and achieve enterprise objectives. It is the ability to build up confidence and zeal among people and to create an urge in them to be a successful leaders, she must possess the qualities of foresight, drive, initiative, self-confidence, and personal integrity.
6. Motivation
A woman entrepreneur has to provide some personal incentive to the subordinates to motivate, persuade and inspire them for contributing their best towards the achievement of enterprise objectives.
7. Supervision:
After giving instructions, the woman entrepreneur has to see that the given instructions are carried by subordinates at work to get the required and directed work done and to correct the subordinates whenever they go wrong.
8. Coordination
Coordination is one of the most important functions. It creates a team spirit and helps in achieving goals through collective efforts to provide unity of action in the pursuit of common objectives.
9. Controlling
Controlling is the process that enables to get its policies implemented and take corrective actions if the performance is not according to the pre-determined standards.
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