Enhancing decision making abilities of the women through entrepreneurship development

Purpose – The purpose of this paper is to analyse the level of financial literacy in Africa based on previous studies and evidence from financial literacy surveys, with the aim of establishing how financial literacy impacts entrepreneurship development in Africa. The study specifically looks at how financial literacy affects the household behaviour regarding financial decision making, as well as the gender gap in financial literacy. As financial literacy is gaining momentum both in developed economies with sophisticated financial systems and developing countries with low levels of financial services, this research seeks to establish a formal relationship between financial literacy and access to finance and what impact both have for developing an entrepreneurship society in Africa. It also focuses on the relationship between financial decision making and gender as well as access to finance with the aim of carefully examining the implications on entrepreneurship development. Design/methodology/approach – To attain the above objective, the study employed a mixed methodology research design where both quantitative and qualitative methods were used. A survey method on financial literacy, conducted by: (Finscope, OECD) was thoroughly analysed in addition to previous work on entrepreneurship development, financial literacy, access to finance and poverty reduction in Africa. Findings – The results show that the difficulties in access to finance, access to market, policy support and entrepreneurship culture are the main problems and constraints on entrepreneurship development in Africa which has a very strong implication for financial literacy on the continent particularly on micro, small and medium enterprises. Other important problems include unfavorable investment climate, absence of entrepreneurship training programmes, unfriendly investment business environment, gender gap and lack of value chain in the entrepreneurship ecosystem. Research limitations/implications – The paper is limited to the established survey and mainly concentrates on Africa. Practical implications – African governments and other development partners should re-evaluate their intervention programmes to strengthen financial literacy skills while simultaneously supporting entrepreneurship development by promoting an entrepreneurship culture through the right policy that will actively stimulate the development of entrepreneurs that will contribute to entrepreneurship ecosystems and ultimately enhance Africa’s economic development. Originality/value – This paper aims at enhancing understanding of entrepreneurship development and financial literacy in Africa and will help policy makers and researcher fill the missing gap between financial literacy and entrepreneurship education. The recommendations made could significantly boost entrepreneurship activities as well as enhance financial literacy skills in the region, which can as well help increase access to finance on the continent.

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Women Entrepreneurship Development in Yemen: The Role of Decision-Making Empowerment

Journal of Impact ◽

10.48110/joi.v2i2.41 ◽

2021 ◽

Vol 2 (2) ◽

pp. 71-86

Author(s):

Abeer Al-Radami ◽

Mohammed Saleh Al-Abed

Keyword(s):

Decision Making ◽

Two Dimensions ◽

Strong Positive Correlation ◽

Women Entrepreneurship ◽

Economic Decision ◽

Entrepreneurship Development ◽

Household Decision ◽

Household Decision Making ◽

Economic Decision Making ◽

The Impact

This research was conducted to examine the impact of decision-making empowerment on women entrepreneurship development in Yemen. Two dimensions of decision-making empowerment were used; economic decision making, and household decision-making empowerment. This study employed the quantitative approach and the method of collecting data was the online-questionnaire. The targeted sample size of this study was 200 business women in Yemen and the response rate was 96.5%. The results of the correlational analysis show that there is a clear strong positive correlation between decision-making empowerment and women entrepreneurship development. In addition, the two dimensions; economic decision making, and household decision-making have a significant relationship with women entrepreneurship development. The results of the regression analysis reveal that decision-making empowerment has a significant impact on women entrepreneurship development and the economic decision-making empowerment and household decision-making empowerment were explaining women entrepreneurship development. It can be concluded that empowering women by allowing them to participate in economic and household decision-making appears to be one of the important factors for developing women's entrepreneurship in particular, which in turn will help reduce poverty as well as achieve economic growth.

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DESTABILIZING EFFECTS OF ERRONEOUS AND UNTIMELY MANAGERIAL DECISIONS ON ENTREPRENEURSHIP DEVELOPMENT IN UKRAINE

Economic innovations ◽

10.31520/ei.2020.22.3(76).39-52 ◽

2020 ◽

Vol 22 (3(76)) ◽

pp. 39-52

Author(s):

I.V. GRYSHCHENKO ◽

O.V. PROKOPENKO

Keyword(s):

Decision Making ◽

Negative Impact ◽

Methodological Approach ◽

Economic Security ◽

Innovative Development ◽

Managerial Decision ◽

Economic Interests ◽

Entrepreneurship Development ◽

Managerial Decisions ◽

The Impact

Topicality. There is a requirement to study erroneous and untimely adoption of managerial decisions in the field of entrepreneurship in Ukraine combining economic interests of the businesses with the interests of the society and environment as a base to improve the specific tools of the organizational and economic mechanism of managerial decision-making in the field of entrepreneurship development, taking into account the requirements of economic security of Ukraine. Aim and tasks. The purpose of this research is to build a conceptual model of the impact of erroneous and untimely managerial decisions on entrepreneurship development in Ukraine. Under the purpose of the research, the following tasks were identified: 1) to determine the economic essence of erroneous and untimely decision-making in the field of entrepreneurship management; 2) to investigate the impact of erroneous and untimely managerial decisions on entrepreneurship development in Ukraine; 3) to propose a scientific and methodological approach to overcome the negative impact of erroneous and untimely managerial decisions on entrepreneurship development in Ukraine. Research results. The economic essence of erroneous and untimely adoption of managerial decisions in the field of entrepreneurship is been established. We consider that erroneous and untimely managerial decisions are decisions which made in violation of the principles of specificity in time and economic efficiency. The impact of erroneous and untimely adoption of managerial decisions in the field of entrepreneurship is investigated in the article. The depth and duration of the destabilizing impact of erroneous and untimely managerial decisions in the sphere of entrepreneurship are determined mainly by the fact that they significantly accelerate the main processes that underlie the general instability of the modern economic system. Considering the erroneous and untimely decision-making in the field of entrepreneurship management, we can identify eight main areas of their impact: the institutional direction, the financial and economic direction, the social direction, the criminalization of economic relations, inhibition of innovation, external geopolitical impacts, internal geopolitical impacts, and structural economic imbalances of entrepreneurship development. The existence of these impact directions of erroneous and untimely decision-making in the field of entrepreneurship management leads to the destruction of existing and makes it impossible to build effective mechanisms for innovative development of the entrepreneurship, causes the degradation of existing resources and economic potential of Ukraine. A conceptual model for the impact of untimely decision-making in a field of national economy management is designed in the article. Scientific and methodical approaches to overcoming the negative impact of erroneous and untimely adoption of managerial decisions on the balanced development of entrepreneurship are been proposed in this document. This approach can be based on: firstly, on the correct decomposition of the problem – decomposition of the problem of erroneous and untimely decision-making into several main issues with the definition of their significance; secondly, on a systematic survey of experts in this subject to obtain the most accurate specification of the managerial decision, which may consist of a list of parties with their interests and capabilities; besides – on computer modeling of processes occurring in socio-economic systems. It should be noted, that one of the most pressing issues today is the implementation of such an approach to managerial decision-making, which would ensure a sufficiently high level of innovative development of entrepreneurship, combining economic interests of the businesses with the interests of the society and environment. Conclusion. The results of our research allowed us to conclude that erroneous and untimely adoption of managerial decisions in the sphere of entrepreneurship can lead not only to a direct and continuous decline in production capacity, which can be directly expressed in the real waste of labor potential. Overcoming the problem of erroneous and untimely decision-making in the field of entrepreneurship management can contribute to the formation of a rational and balanced spatial structure of the Ukrainian economy; to the development of effective competitive businesses; to the rational use of labor resources, equalization of socio-economic development of Ukraine; to the improving the demographic situation and increasing the life expectancy of Ukrainian population; to the increasing of gross domestic product. Successful practical implementation of the proposed scientific and methodological approach to overcoming the negative impact of erroneous and untimely adoption of managerial decisions is possible only if the objectives of innovative development of entrepreneurship and economic security of Ukraine are properly taken into account.

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Decision making ability of agri- entrepreneurs at Jammu and Kathua districts of J & K state, India

Journal of Applied and Natural Science ◽

10.31018/jans.v6i2.531 ◽

2014 ◽

Vol 6 (2) ◽

pp. 751-754

Author(s):

Bhavana Gupta ◽

Quadri Javeed Ahmad Peer ◽

Jaswinder Kaur

Keyword(s):

Decision Making ◽

Achievement Motivation ◽

Jammu And Kashmir ◽

Entrepreneurship Development ◽

Economic Decisions ◽

Training Technique ◽

High Level ◽

Individual Ownership ◽

Development Institution ◽

Poultry Farming

The concept of entrepreneurship has assumed prime importance in research and development for accelerating economic growth in developing countries. The Entrepreneurship development institution has been focusing its attention on developing programmes for entrepreneurship development and innovative training technique for trainers. The entrepreneurs are responsible for many economic decisions that rests on anticipating demand and bearing risks. The investigation on 210 agri-entrepreneurs thirty each from seven agri-enterprisesnamely vegetable growing, strawberry growing, dairy farming, mushroom growing, bee-keeping, poultry farming and flower growing, selected purposively from Jammu and Kathua districts of Jammu and Kashmir state revealed that one-half (50.48%) of the agri-entrepreneurs were in the high category of decision making ability followed by medium (46.19%) and low (3.33%) levels. Majority (76.67%) of vegetable entrepreneurs were in the high level of decision making ability followed by poultry entrepreneurs (56.67%). Majority (61.43%) of entrepreneurs had not received any training. Only 38.57% of entrepreneurs had received training. Bee-keepers were highest (66.67%) who received training regarding their enterprise. Majority (61.72%) of entrepreneurs received training for a period of seven days followed by 23.46% of entrepreneurs who got training for fifteen days and 14.81% who attended thirty days training. The study inferred that high level of decision making ability of agri- entrepreneurs might be due to individual ownership, high achievement motivation and high risk taking capacity. The appropriate decisions with regard to finalizing different technical, financial and marketing aspects at right time, results in the progress of the enterprise.

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Discarding optimality: Throwing out the baby with the bathwater?

Behavioral and Brain Sciences ◽

10.1017/s0140525x18001401 ◽

2018 ◽

Vol 41 ◽

Cited By ~ 1

Author(s):

Patrick Simen ◽

Fuat Balcı

Keyword(s):

Decision Making ◽

Perceptual Decision Making ◽

Reward Rate ◽

Perceptual Decision ◽

Standard Observer ◽

Rate Maximization ◽

Reward Rate Maximization ◽

Descriptive Standard ◽

Observer Model

AbstractRahnev & Denison (R&D) argue against normative theories and in favor of a more descriptive “standard observer model” of perceptual decision making. We agree with the authors in many respects, but we argue that optimality (specifically, reward-rate maximization) has proved demonstrably useful as a hypothesis, contrary to the authors’ claims.

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LPCD framework: Analytical tool or psychological model?

Behavioral and Brain Sciences ◽

10.1017/s0140525x18001383 ◽

2018 ◽

Vol 41 ◽

Author(s):

David Danks

Keyword(s):

Decision Making ◽

Analytical Tool ◽

Mathematical Framework ◽

Bayesian Decision ◽

Perceptual Decision Making ◽

Psychological Model ◽

Psychological Reality ◽

Psychological Theories ◽

Target Article ◽

Bayesian Decision Making

AbstractThe target article uses a mathematical framework derived from Bayesian decision making to demonstrate suboptimal decision making but then attributes psychological reality to the framework components. Rahnev & Denison's (R&D) positive proposal thus risks ignoring plausible psychological theories that could implement complex perceptual decision making. We must be careful not to slide from success with an analytical tool to the reality of the tool components.

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Elaborating the role of reflection and individual differences in the study of folk-economic beliefs

Behavioral and Brain Sciences ◽

10.1017/s0140525x18000274 ◽

2018 ◽

Vol 41 ◽

Author(s):

Kevin Arceneaux

Keyword(s):

Decision Making ◽

Individual Differences ◽

Cognitive Processes ◽

Evolutionary History ◽

Behavioral Responses ◽

History Of ◽

Economic Beliefs

AbstractIntuitions guide decision-making, and looking to the evolutionary history of humans illuminates why some behavioral responses are more intuitive than others. Yet a place remains for cognitive processes to second-guess intuitive responses – that is, to be reflective – and individual differences abound in automatic, intuitive processing as well.

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