Entrepreneurial Competencies and Business Success Among Women Entrepreneurs

Abstract

The Malaysian government's objective of wanting to establish rapid growth of women entrepreneurs is a high priority, while the long-term sustainability and survival of business are also given similar importance. Malaysian government actively promotes women's involvement in entrepreneurship with the aim of stimulating the country's economy. However, many women entrepreneurs, especially in developing countries, lack competencies. Thus, the present study aims to propose a model for women business success that aligns with entrepreneurial competencies It has utilised 6 dimensions of entrepreneurial competencies, which are: strategic competencies, commitment competencies, organizing competencies, relationship competencies, commitment competencies, opportunity competencies and conceptual competencies. Structural Equation Modeling (SEM) has been employed as the main statistical technique in this study. Overall, the study has found that only four of the independent variables (i.e. elements of entrepreneurial competencies), namely relationship, opportunity, organizing and commitment competencies have significant relationships with women's business success. The remaining 2 domains, strategic competencies and conceptual competencies have revealed to be not significant. The findings are likely to be useful to SMEs, as they have highlighted the necessity of focusing on training to yield increased effectiveness. The model from this study will also further contribute towards the development of literature review related to the favourable outcome for women entrepreneurs.

Women’s Entrepreneurial Competencies and Economic Development: A Review of Literature

“…The study employed qualitative and quantitative research approaches, while a cross-sectional and longitudinal survey research method was adopted to examine the impact of women entrepreneurs on the performance of small and medium enterprises. Baharudin, Rusok, Sapiai, Ghazali and Salleh (2021) examined entrepreneurial competencies and business success among women entrepreneurs. The researchers seek to propose a model for women's business success that aligns with entrepreneurial competencies and came up with six dimensions of entrepreneurial competencies.…”