The word entrepreneur comes from a French word Entrepreneur that intends to tackle. Additionally, it is defined as one who undertakes a commercial venture and that is an organizational founder and innovator. He’s somebody who introduces something new into a market. The notion of entrepreneurship isn’t new but the measurement of women entrepreneurs is a new prism to view and examine the idea. To be an entrepreneur the very best thing to realize is the entrepreneur behavior. It’s about using resources beyond the immediate scope of the entrepreneur and their venture.
However, for a gender-specific entrepreneurship, this notion might include specific reservations. The literature defines female entrepreneurs as people who use their expertise and tools to develop and create new business opportunities, that are actively engaged in managing their own company, and own at least 50 percent of their company and have been in operation for more than a year.
Following theoretical approaches to female entrepreneurship reveal that this notion hasn’t developed around the world and women entrepreneurs are facing difficulties while operating in the present environment. These approaches include:
Economic Paradigm: This paradigm assumes that the entrepreneurs are economists. They have an inherent ability to transform old funds into larger profits by employing the capitalist strategies like reinvestment. Thus with this standards, they make it tough for the inclusion of women in the entrepreneurial process. There are contextual settings that make it hard for girls to focus solely on the financial paradigm. Additionally, it hinders and filters the entrants to experiment the entrepreneurship.
Spiritual Paradigm: This school of thought believes that entrepreneurship emerged as a consequence of religious virtue. In the prior century, Calvinism was a Christian sect who appreciated rescue, reinvestment, and hard work. Devotees of the sect are considered the first entrepreneurs since they took this possibility of creating their own businesses due to their teachings. Thus this view implies that an entrepreneur is a person who is hard working and shows perseverance.
Emotional Paradigm: This paradigm claims that the development of entrepreneurs is due to psychological characteristics such as specific set of personal qualities that make them more suited to success. The most dominant trait is the requirement for accomplishment. This is a driving force that makes a person motivated towards ambition, setting goals, planning and adapt to changes. An entrepreneur consequently rises as a leader, takes risks and has the necessary energy to handle it. Teachers are those who have this character and these traits will direct them to venture into self-employment.