Do Men Succeed In Owning/Operating Small Businesses More Tha
Women tend to run businesses differently than men. As we have talked about in class, women are usually more intuitive or what you would call right brain thinkers. This stresses creativity, sensitivity, and value based decision making. Men, on the other hand, tend to be logical or left brain thinkers. They stress analysis, information processing, and procedures. Women business owners' style of decision making is more "whole brained" than the men's decision style. It is more evenly distributed between the left and right brain thinking. Women business owners usually reflect on decisions, weighing alternate decisions and their outcomes before putting a plan into action. Women also tend to gather more information from associates and business advisors than do men. Men stress action and pay more attention to outside events and activities than do women. Until recently, patterns for a successful business had been mainly male dominated, frequently making women pattern themselves in a style that was not comfortable to them. The fact that both styles can be successful will help strengthen each other's management styles and in turn, they can learn from each other's style. Women business owners tend to talk about their businesse
They prefer them small to avoid dealing with an organization that would require layers of management and an atmosphere that might lack support, be unfriendly, or limiting. Most women use less capital to start their businesses than do males. Many financial Institutions have implemented programs to help educate and make it easier for women to get better financial access when starting a business. Of the women that started their businesses within the last 10 years, almost half of them used less than $10,000 to start their businesses. In my business I have experienced many of these facts, as I own 1/3 and my parents each own 1/3 of the business. "It appears that among businesses started within the past decade, there is no significant gender difference in the share of firms with $500,000 or more in revenues. The most common reason for having flexibility is so they can have a family life too. More than half of the women owners of a 1 million dollar business use the internet and e commerce as important tools in their business strategy, compared to around thirty percent of male owners of 1 million dollar businesses. When women hire new employees, they tend to look at Universities and other untapped markets, where as men usually use traditional sources such as classified ads and walk-in applicants. The female business owner of the past did not strive for future growth. Many want to provide good jobs and a secure future for their employees. Another thing that helps the new generation of business women is that they are much better educated than the women of yesteryear. Women have come a long way in the past 30 years. (Center for Women's Business Research 1) Among 1 million and above firms, women are more likely to have started their businesses, about 3 out of 4, rather than 6 out of 10 men instead of inheriting, or acquiring it in some other way. The new age business women are striving for continued growth as they expand their business.
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