Progress of women in the world of business

What will happen if most women enter the world of business? 

Whenever we hear the word 'business, we think about the men! However, nowadays the way women are excelling themselves in business and the corporate sectors clearly shows their enthusiasm and courage to become self-employed women. 

Women have different ways to go to achieve parity in terms of entrepreneurship and access to funding. Today, women entrepreneurs play a huge role in the Indian economy as well as in the whole world. We have seen many times in the news about women's business for instance Kylie cosmetics, PepsiCo, Unilever where the woman’s role is incredible. 

 But sometimes this scenario is not well fitted in the context of developing countries because there are a lot of hurdles, restrictions, and challenges for women to grow and set up their businesses.

Therefore, Here we're going to understand how women build their regime in the private sector by facing innumerable struggles in life. few points which can help us to understand women's growth in the business world:

WOMEN'S PARTICIPATION IN BUSINESS:  Biggest Threat To Patriarchy? 

The world economy has grown steadily over the last decade, and there has been a parallel surge in the number of startups and new businesses in the country. A majority of these have been founded by men. During the fourth world conference on women, in Beijing United Nations have created a global platform for action on gender equality and women empowerment for the development of women's potential within society. 

The most important point in the conference was equitable participation by women in the economic activities of their respective countries. The region’s commitment to the goals laid down for equitable participation by women in economic activities has been consolidated in the light of these programs and platforms for action. Thus, each country has amended its legal framework and created institutions oriented towards the development and promotion of gender equity.

MAJOR CHANGES OVER RECENT DECADES

Women’s participation in the public world and the labor market, in particular, brought profound transformations in the labour market and educational attainments, declining female fertility rates, alterations in family relationships, and improved access to decision-making.

The growth in women’s labour force participation has repercussions for a country’s economic development. There is likewise evidence from several countries that a rise in incomes controlled by women has a strong effect on their families, as their spending is largely for their children’s benefit (World Bank, 2012).

The gap between men and women held steady at the global level until 2008 when it widened 

because of the international financial crisis. 

In Latin America and the Caribbean, female participation in the labour force has increased 

progressively and steadily, rising from 43.5% in 1992 to 49.6% in 2002 and 52.6% in 2012, while male participation dropped from 82.5% in 1992 to 80.3% in 2002 and 79.5% in 2012 (ILO, 2012). 

AN INSPIRATIONAL STORY: A WONDERFUL WOMEN INDRA NOOYI

"I'm not here to tell you what to eat"... 

(INDRA NOOYI) 

In her traditional Brahmin family in India, education was everything. That prepared her to flourish in corporate America and rise to become chief executive of PepsiCo.When Indra Nooyi stepped down as chief executive of PepsiCo last year, she was replaced by a man — and the ranks of female C.E.O.s further dwindled.

Rebellious child Indra Nooyi moved to America in 1978 to study at Yale University. While in India, she worked as a product manager with a couple of reputable firms. She has always been very determined and strategic towards her work. 

She shattered gender stereotypes and played a key role in PepsiCo(1994). 

She has also been named as one of the most powerful executives by many magazines and business publications. She has also been honored with the Padma Bhusan in 2007 by the government of India. 

• Nooyi was 42 years old when she became the fifth Chairman & Chief Executive Officer (CEO) of PepsiCo. 

• She currently serves as a member of the board of directors of Amazon. 

STATISTICS: Progress of women in the 

world of business

According to the National Association of Women Business Owners, there are a total of 12.3 million women-owned businesses in the US. Businesses run by women produce $1.8 trillion a year according to the Women’s Business Enterprise National Council. Another woman in business statistic from WBENC points out that 4 of every 10 US businesses are women-owned. 64% of the businesses started last year by women were started by women of color.  So, the growth of women-run businesses was driven by a majority of women of color starting small businesses. Women entrepreneurs running businesses 20 years ago, the number of women entrepreneurs running businesses today shows over 114% growth. According to Forbes, when private tech companies are run by women, they render a 35% higher return on investment than those run by men. 

         Hence, things are certainly better than they used to be, but there's still plenty of room for improvement. When it comes to confidence, women are still facing a lack of it. So as a woman we should stand with other women. To succeed as an entrepreneur it's important to make it as a leader and "believe you can do it and believe you can do it- even if you don't know how".

- By Surangana and Diksha

WIB Members

The presence of imposter phenomena in the workplace.

 WHAT IS THE IMPOSTER PHENOMENON?

Imposter syndrome in a general way is defined as doubting your abilities and feeling like a fraud. It felt as penetrating self-doubt, insecurity and the belief that any of your achievements or successes are due to luck or anything but not your abilities. It excessively influences high achieving people, who find it hard to accept their attainments. It makes them doubt their potential, many wonder whether they are even deserving or not. People suffering from imposter syndrome often be afraid of being unveiled as artifice.

SO CONCISELY PEOPLE BELIEVE THAT THEY ARE GETTING LUCKY RATHER THAN WORKING HARD FOR THEIR SUCCESS.

WHAT IS THE CAUSE OF IMPOSTER SYNDROME?

This may sound complex but imposter syndrome is a very common and not at all abnormal syndrome it can affect anyone but high-achieving individuals often experience it according to a website - OVER 70% OF PEOPLE WILL EXPERIENCE IMPOSTER SYNDROME at some point in their lives. 

Still according to some professionals imposter syndrome is likely the result of various factors including personality traits such as professionalism and perfectionism and also your background and family status it is most likely to be rooted in the families that value achievement above all. Self-doubt, the pressure to work hard and long, overachieving and overthinking can also contribute vastly. The studies have shown that the phenomenon is experienced by both genders equally.

HOW TO DEAL WITH IMPOSTER SYNDROME?

Regardless of job or social status imposter syndrome can affect anyone. Many experience symptoms for a limited time, while for some people it can even last lifelong. But there are some ways which might help to stop feeling like an imposter in the workplace. 

• Firstly, controlling your ability to overthinking might help miraculously.
• Separating what you feel from what you know for a matter of fact it doesn't have to be what it seems to be.
• Draw attention to the positive.
• Don't resolute over routine tasks and let off yourself when the unavoidable mistake happens.
• Develop a healthy response to failure and mistake making. 
• Envisioning success might also help. 

 - AFTER ALL, FAILURE IS SUCCESS IN PROGRESS

                                                                                               -- by Aditi 

                                                                                                  WIB Member