1. Management and Control:
A woman or a group of women manages the whole business of enterprise. She prepares various plans and executes them under her own supervision and control. There may be some persons to help her but ultimate control lies with the woman.
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2. Employment to Women:
A woman entrepreneur must provide at least 51 percent of the employment generated in her enterprise to women.
3. Risk-taking:
Risk means uncertainty. It is the condition of not knowing the outcome of an activity. A woman entrepreneur takes calculated risk.
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She faces uncertainty confidently and assumes risk. She has to tie up capital and wait for good returns. A woman entrepreneur likes to take realistic risks because she wants to be a successful entrepreneur.
4. Good organizer:
The most critical skill required for industrial development is the ability of building a sound organization. A woman entrepreneur assembles, co-ordinates, organizes and manages the other factors namely land, labor and capital. She obtains factors of production from the society and supplies them finished product.
5. Self confidence:
It is essential to be a self confident for a woman entrepreneur. She should have faith in herself and in her abilities. She should have the confidence to implement the change and overcome any resistance to change. A woman entrepreneur should have courage to own the mistakes and correct them.
6. Decision–maker:
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The main function of a woman entrepreneur is to make decision. She takes various decisions regarding the activities of her enterprise. She decides about the type of business to be done and the way of doing it. A woman entrepreneur must be clear and creative in decision making process.
7. Visionary:
A woman entrepreneur is one who incubates new ideas, starts her enterprise with these ideas and provides added value to society based on their independent initiative.
8. Hard worker:
A distinguishing feature of a woman entrepreneur is the willingness to work hard. She has to follow the principle, “Hard-work is the key to success”.
9. Achievement oriented:
A woman entrepreneur is an achievement oriented lady, not money hungry. She works for challenge, accomplishment and service to others. Achievement orientation is a derive to overcome challenges, to advance and to grow.
10. Optimistic:
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A woman entrepreneur must be optimistic. She should approach her venture with a hope of success and attitude for success rather than with a fear of failure. The positive thinking of woman entrepreneur can turn the situation favorable to her.
11. Technically competent:
The success of an enterprise largely depends upon the ability of woman entrepreneur to cope with latest technology. Technical competency refers to the ability to devise and use the better ways of producing and marketing goods and services.
12. Bold and brave:
Women entrepreneurs face the adversities boldly and bravery. She has faith in herself and attempts to solve the problems even under great pressure.
13. Mentally sound:
A woman entrepreneur is energetic, single-minded, having a mission and a clear vision. She should be a lady of creative thinking and analytical thinking. She must be intelligent, adaptable and problem solver.
14. Leadership:
Leadership quality is one of the most important characteristic of a woman entrepreneur. It is the process of influencing and supporting others to work enthusiastically towards achieving objectives.