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Essay / Essay on defining entrepreneurship - 1560
Women evaluate the importance of the economic contribution they make to the household. The actual number of economically active married women is much higher than the overall data indicate. The big change came when the machines were put into operation. Women were employed in factories. 1.4 Meaning and definitions of entrepreneurship Different definitions have been given by different authors. Some of the definitions are given below. According to Ponstadt (1998), entrepreneurship is the dynamic process of creating additional wealth. This wealth is created by individuals who assume the major risks in terms of equity, time and/or professional commitments linked to the value of a product or service. The product or service may/may not be new or unique, but the value must be instilled by the entrepreneur by obtaining and allocating the necessary skills and resources. Furthermore, Timmons (1989) defined it in such a way that: Entrepreneurship is the process of creating and building something of value from virtually nothing. Simply put, it is the process of creating or seizing an opportunity and pursuing it regardless of the resources currently controlled. It involves defining, creating and distributing values and benefits to individuals, groups, organizations and society. Entrepreneurship is very rarely a get-rich-quick (and not short-term) proposition; rather, it is about creating long-term value and sustainable cash flow. 1.5 Women's Entrepreneurship The productive activities of women, particularly in industry, empower them economically and motivate them to contribute to the overall development of the economy. Whether they work in the formal or informal sector or in a small or medium enterprise...... middle of document ......method The target people for this study were very small, small and medium enterprises owned by women in the NCR. . A convenience sample was used to identify women-owned businesses that would participate in this study. To create a list of women-owned businesses, well-known women-owned businesses in these areas were contacted. These women informed and identified other potential women-owned businesses to include in the sample. Women-owned businesses were then contacted to participate in the study. As a result of these efforts, a list of 30 women-owned businesses willing to participate in the study in the NCR was compiled. Data collection Questionnaires were hand-delivered to women-owned businesses listed in the database. Primary data collected from personal interviews and questionnaires Secondary data collected from Various newspapers Newspapers Magazines