Analysis of the case
Factors Sub factors/According to the Literature Review As Perceived by the Entrepreneur
Social Factors • Childhood She was a very active child and started giving tuition to the students since she was in her secondary school.
• Background Her father was in Army at an ordinary rank. She belongs to a middle class family and financially was not very much sound.
• Education She did B.A. from degree college Dharamshala. Then Diploma in Computers from local institute and MCA from Kurukshetra University.
• Religion Hindu
• Community setup and cultural issue She belongs to a Rajpoot family. Cultural issues were not there in her family.
• Support from spouse/family/relatives/community Family and spouse were supportive. They never stopped her from doing her business.
• Social mobility Not a problem
• Work-Life Balance Yes, sometimes she had to face problems to maintain a balance between her work and family life but she handled such issues very well.
• Glass Ceiling Faced no glass ceiling. She was a self-made woman. Manage her business without any help from her husband.
• Financial assistance from Institutional sources
Financial assistance was not taken by her to start the business.
• Attitudes of the government No problems were faced by her at the government’s end.
• Raw material No issues
• Size of the composition of market Yes- challenging
• Lack of access to credit No
Factors • Potential Entrants Yes definitely
• Rivalry among existing firms More entrants increase the rivalry
• Suppliers No issues
• Buyers No issues
• Substitutes Yes
• Experience ; training Had a good work experience in the same industry which helped her a lot in starting her business.
• Arrangement of Finance She never considered finance as a problem.
• Lack of Risk Taking Capacity She was good in realizing the opportunity and taking the risk.
• Lack of exposure to Business No
• Environment Very helpful
• Lack of Technological knowledge She herself was very good in technology
• Resources Always available
• Language Never be a problem
• Culture Familiar culture
• Red Tapeism No
• Lack of Professional networks Because of previous work experience, she had a good professional network.
• Male domination Industry Yes but never be a hurdle
• Corruption Yes to some extent
Mrs. Jyoti Chandel was born in Kangra District of Himachal Pradesh. Her father was in Army who retired as Subedar. She belongs to a middle-class family and was eldest among 3 brothers and sisters. She did her B.A. from Government College Dharamshala. Then she pursued for a diploma in Computer education in a local computer institute and further did her post graduation in computers (MCA) from Kurukshetra University. She is Hindu and belongs to Rajpoot community. She indeed from a middle-class family but her family never imposed any cultural restrictions on her and encouraged her to pursue her dreams. Many studies revealed that women entrepreneurs considered work-family conflict as a major challenge, she herself faced this challenge but with the help of her parents managed it very well. She never faced any type of glass ceiling is her entire journey of entrepreneurship. She said that no doubt people thought that entrepreneurship was meant for the male folk but if you are confident enough about your decision to start the business and hard working then nobody can stop you from achieving the success.
Arrangement of finance is a very big challenge in front of the women entrepreneurs. But Ms. Jyoti had never faced this challenge and to start her business she invests her savings and took help of her husband and friends. Economic factors were never a challenge for her. To start her business, she took no financial assistance from the government agencies. Government also took initiatives to financially help needy women. Ms. Jyoti didn’t face any problem in access of credit.
The present era is of globalization and of entrepreneurship. The government also promotes entrepreneurship, so now it becomes easy to have a career in entrepreneurship. The only thing you are required is analyzing the opportunity and having the skills to utilize the opportunity. Now the market is open and this encouraged the entry of so many entrepreneurs, which increased the rivalry among the firms. If you didn’t perform well and do justice with the expectations of your client then there are many substitutes in the market. So planning, innovation and grabbing the opportunity gives you a competitive edge in the market.
Experience always helps you. In this case it was quite visible that how previous (approximately 5 years) job experience helped her very much to start her new business and successfully tackled various problems. In addition, they have often not been exposed to the international market and lack knowledge what is internationally accepted. She was a risk taker and it was her achievement that with two faculty members and 15 students, she started her institution and over period of time with her dedication and hard work took it to the great heights. Her experience and training in the same field became facilitator in her whole journey of entrepreneurship.
Locational Mobility of Entrepreneurs
She worked and started her business in the local area i.e. Dharamshala town, so never faced a problem related to culture or language. She was well known with the expectations, cultural orientations and requirements of her clients. Before becoming the entrepreneur she was the part of this profession from very long, therefore had a full knowledge of all aspects of the business she was in.
She said that “I am very active and always took initiatives whenever required and also very good in network building”. She tied up with many companies and was fully aware of the current trends. She has her own professional network. She believes that If you have the capabilities then everybody respects you and help you out”. On corruption, she agreed that “presently there is a rise in corruption and we are the people who motivate this evil practice. If we do our work through proper channel with the patience then there would be no problem but today we are in hurry, love shortcuts and as a result, encourage corruption”.
From very earlier times India is a male-dominated society; It is always assumed that women should be economically and socially dependent on men. But this notion seems to be diluted as women in India are becoming more and more self-reliant. Females play a vital role in the development of the country as a whole and have so much potential to achieve greater heights of success. However, women-owned enterprises have their own challenges and constraints which need to be addressed. Education has played a major role in reducing these challenges but a mental revolution of society is the need of the hour. Presently women represent the true mark of respect and progress in every profession, resulting in woman empowerment as well. In the present study, Ms. Nirmal Sethi and Ms. Jyoti Chandel are the women entrepreneurs who have not only managed their business so extraordinarily but also set an example that women entrepreneurs have all the potentials to explore new avenues and ensure their economic participation by generating employment for the marginalized strata of the community. By the analysis of both the cases it is concluded that Social factor plays a vital role in developing an entrepreneur. Both women belong from a family who never put restrictions on them and became very much supportive. Upbringing of the children also very crucial part. Father of Ms. Sethi was a role model to everyone he brought up her daughter exceptionally well. And Educational background, both entrepreneurs were educated which helped them a lot in running their business. Education helps to nurture a sense of confidence in everyone. Work life conflict is the major barrier in the journey of entrepreneurship which was faced by many women but in these cases both entrepreneurs love their work so much that they never considered it as a challenge and knows well how to strike a perfect balance between personal and professional life. To do this support of family and spouse was very much needed, which they also receive. Apart from Social factors, economic factors are also important. Many times, it happens that because of lack of finance and awareness about the government agencies women unable to utilize their potentials. But in the present study both Ms. Sethi and Ms. Jyoti did not take any financial assistance from government agencies. They invested their own money and the best part is that they both independently handled financial issues of their business and themselves took all the decisions of their business. Because of the globalization and advancement of technology market is now open and this encourage the entry of more competitors in the market and doing business become tough than earlier. Both ladies understand this well and took innovative and creative steps to sustain in the market place. Ms. Sethi did not had any previous experience and training to do business but she managed to perform extraordinarily in the unconventional field of transportation and Ms. Jyoti had good work experience and she used it to the fullest in running her business. They both are very good in risk taking and knows pretty well how to grab the best opportunity. Ms. Seth and Ms. Jyoti both are bold, fearless and confident ladies and never hesitates in interacting with people and because of these qualities they build up their professional network which was very helpful for them in running their business smoothly. Both women entrepreneurs under study showed commendable performance in their respective businesses. They are assertive, persuasive and willing to take risks. They managed to survive and succeed in this cut-throat competition with their hard work, diligence, and perseverance. Ms. Sethi and Ms. Jyoti unquestionably established the fact that women can be successful entrepreneurs in business and industry.