{"id":633784,"date":"2017-12-01T00:00:00","date_gmt":"2017-11-30T23:00:00","guid":{"rendered":"https:\/\/www.ie.edu\/insights\/latest-news\/articles\/sustainable-entrepreneurship-with-female-twist\/"},"modified":"2019-02-06T12:48:37","modified_gmt":"2019-02-06T11:48:37","slug":"sustainable-entrepreneurship-with-female-twist","status":"publish","type":"articles","link":"https:\/\/www.ie.edu\/insights\/articles\/sustainable-entrepreneurship-with-female-twist\/","title":{"rendered":"Sustainable Entrepreneurship with a Female Twist"},"featured_media":636369,"template":"","meta":{"_has_post_settings":[]},"schools":[],"areas":[17,19,24],"subjects":[],"class_list":["post-633784","articles","type-articles","status-publish","has-post-thumbnail","hentry","areas-entrepreneurship","areas-global-affairs-law","areas-strategy"],"custom-fields":{"wpcf-article-leadin":["In addition to their standard economic objectives, entrepreneurs in the world\u2019s most advanced societies have also begun to pursue social and environmental value. Achieving professional goals is no longer enough: some business owners are seeking mutual benefit and trying to solve problems in their communities. Female entrepreneurs play a central role in this culture."],"wpcf-article-body":["Beyond the fundamental aim of turning a profit, some entrepreneurs<\/a> have discovered the importance of pursuing values-based objectives. With economic considerations now being considered in tandem with social and environmental aims, many entrepreneurs have begun to make multifaceted contributions. Surprisingly\u2014given that this combined value is the key to developing a reliable strategic<\/a> plan\u2014these contributions often go beyond the initial scope of the business project. It is worth considering whether the prevailing cultural values of a particular country are in tune with the goal of building an entrepreneurial movement that creates economic and social value and promotes environmental friendliness\u2014in other words, a sustainable entrepreneurship movement. In one way or another, these intangible indicators configure the business context.\r\n\r\nIn a society that prioritizes social and environmental objectives over purely economic ones, businesses spearheaded by this sort of person have better chances of success. Beyond merely making money, these entrepreneurs<\/a> aspire to drive change and generate profound, long-lasting transformations. They differ from NGOs in that they approach problems in novel ways, always seeking something different and applying innovative<\/a> strategies<\/a>.\r\n\r\n \r\n

\"Emprendimiento<\/p>\r\n \r\n\r\nThe importance of gender<\/strong>\r\n\r\nIn this three-pronged approach to value creation, the who<\/em> can be a more decisive intangible factor than the what.<\/em> The founder\u2019s gender has a significant impact on the definition of a company\u2019s objectives and the projects that arise in its milieu. Women are more likely to pursue social value, whereas men are more focused on the economic side. The differences between men and women in this regard underscore women\u2019s role in efforts to create social value. Women are also more active in environmental initiatives. In simpler terms, some people believe that women are more motivated by issues of ethics and justice, although there is no empirical evidence to support this assertion.\r\n\r\nBesides the who,<\/em> the when<\/em> is also important. At the time of its founding, a company is imprinted with the character and philosophy that will distinguish its goals. In these early stages, women are more likely than men to plant the seed of multifaceted value creation.\r\n

The differences between men and women underscore women\u2019s role in efforts to create social value.<\/blockquote>\r\nPostmaterialism in modern societies<\/strong>\r\n\r\nLet us return to the topic of cultural values. Societies with a more postmaterialistic culture are likelier to generate projects that put social and environmental factors before the bottom line. The transition towards postmaterialism has pushed modernized societies into a new stage. With industrialization now behind them, postmaterialistic societies place great importance on concepts such as intellectual abilities, human rights, quality of life, esteem, and self-realization. The genes of such a society will define its future entrepreneurs<\/a>, who will be more interested in protecting the environment and ensuring the welfare of others. Culture, more than any other variable, is the essential vehicle for channeling transformations in business.\r\n\r\nWe must therefore renounce the preconceived notion that women\u2019s character is incompatible with launching and running a business. In fact, one consequence of this cultural shift is a reinvigorated defense of the principle of equality. With the advent of postmaterialism, a more intense relationship has developed between female leadership and the creation of social and environmental value. The gap between men and women in creating social and economic value has grown wider in postmaterialistic societies than in others. Social entrepreneurship<\/a> rates are significantly higher in these societies than in regions that remain anchored in materialism.\r\n\r\nOf course, the phenomenon of social entrepreneurship<\/a> is not limited to advanced and emerging countries. Paradoxically, social enterprises tend to flourish in less developed countries, where governments are unable to cope with societal problems and environmental challenges. Indeed, the challenge for these administrations is to allow the entry of foreign figures who can help solve these conflicts. Not surprisingly, in some regions foreigners play a crucial role in complementing the work of NGOs and helping to renew economic systems.\r\n
Culture, more than any other variable, is the essential vehicle for channeling transformations in business.<\/blockquote>\r\nBeyond the GEM<\/strong>\r\n\r\nIn addition to the data provided by the Global Entrepreneurship Monitor (GEM)\u2014the worldwide network that measures entrepreneurial activity, attitudes, and aspirations\u2014the intangible indicators mentioned above provide valuable complementary information. This information makes it possible to link value creation to a particular environment and identify the advantages of sustainable entrepreneurship<\/a>. Postmaterialism and the female perspective will be enormously useful in ensuring that future research provides a more comprehensive vision of the entrepreneurial ecosystem. Whatever the case, we mustn\u2019t lose sight of the qualities that may well be innate to these entrepreneurs: perseverance, adaptability and teamwork. The economic component also remains significant, since profits obtained in one project can be reinvested in others.\r\n\r\n \r\n\r\n\u00a9 IE Insights.\r\n\r\n "],"wpcf-article-extract-enable":["1"],"wpcf-article-extract":["By Rachida Justo, Diana M. Hechavarr\u00eda, Siri A. Terjesen, Amy Ingram, Maija Renko and Amanda Elam<\/strong>. In addition to their..."],"wpcf-article-summary-enable":["1"],"wpcf-article-summary":["In addition to their usual economic objectives, entrepreneurs in the world\u2019s most advanced societies have also begun to pursue social and environmental value. These entrepreneurs aspire to generate profound transformations by approaching problems in novel ways. Female leadership and postmaterialistic culture are the factors behind projects of this sort. Women are more likely than men to pursue social value, and the values of equality and social entrepreneurship are more common in postmaterialistic societies than in less developed countries. This information allows us to link value creation to a particular sort of environment. Foreign entrepreneurs operating in emerging countries could play a role in complementing the work of NGOs."]},"_links":{"self":[{"href":"https:\/\/www.ie.edu\/insights\/wp-json\/wp\/v2\/articles\/633784","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.ie.edu\/insights\/wp-json\/wp\/v2\/articles"}],"about":[{"href":"https:\/\/www.ie.edu\/insights\/wp-json\/wp\/v2\/types\/articles"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.ie.edu\/insights\/wp-json\/wp\/v2\/media\/636369"}],"wp:attachment":[{"href":"https:\/\/www.ie.edu\/insights\/wp-json\/wp\/v2\/media?parent=633784"}],"wp:term":[{"taxonomy":"schools","embeddable":true,"href":"https:\/\/www.ie.edu\/insights\/wp-json\/wp\/v2\/schools?post=633784"},{"taxonomy":"areas","embeddable":true,"href":"https:\/\/www.ie.edu\/insights\/wp-json\/wp\/v2\/areas?post=633784"},{"taxonomy":"subjects","embeddable":true,"href":"https:\/\/www.ie.edu\/insights\/wp-json\/wp\/v2\/subjects?post=633784"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}