Abstract
This ongoing study investigates the characteristics of innovation and its influence as a success factor for female entrepreneurs in Malaysia. It starts by presenting an extensive review of literatures in the area of entrepreneurship, particularly focusing on women entrepreneurs. Purposive sampling, namely snowball sampling method is used to collect data from small and medium enterprises owned by female entrepreneurs in Malaysia. The study examines the associations among Innovation Conviction (ICN), Innovation Mindset (IMT), Innovation Creed (ICD) and the Need for Achievement (NFA). Descriptive and inferential statistics were carried out to the gathered data and presented in this paper. Findings indicate that ICN, ICT and IMT are positively correlated with the Need for Achievement among female entrepreneurs in Malaysia.
Highlights
According to the Bureau of Census, businesses owned by female entrepreneurs contributed only to a small percentage of 4.6% in 1972, but has since grown tremendously in number
The study examines the associations among Innovation Conviction (ICN), Innovation Mindset (IMT), Innovation Creed (ICD) and the Need for Achievement (NFA)
Findings indicate that ICN, ICT and IMT are positively correlated with the Need for Achievement among female entrepreneurs in Malaysia
Summary
According to the Bureau of Census, businesses owned by female entrepreneurs contributed only to a small percentage of 4.6% in 1972, but has since grown tremendously in number. By 1999, there were 9.1 million women-owned businesses who employed 27.5 million workers with profits approximately $3.6 trillion. From 1997 to 2002, women formed new businesses at twice the national rate. Based on Center for Women’s Business Research, by 2003 women entrepreneurs had been recognized as a main driver in the U.S economy. Numerous collaborations showed that female-owned businesses were gradually becoming an important factor for the global economy (www.nfwbo.org, 2009). Normah (2006), as reported in National Statistics Conference, Malaysia cited that female participation in businesses is showing a positive trend and growing throughout the years
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