The past perception that it was difficult for Indian women to achieve success in business has...

 

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The past perception that it was difficult for Indian women to achieve success in business has been shattered as many had emerged as successful entrepreneurs' in the last decade, with some of them enjoying earnings that run into millions. Exploiting the various social media platforms to the maximum, these women have also paved the way for many others to earn comfortable incomes through their endeavors. Sailajah Selveekam, 36, who sold her first product online in 2013 is now the proud owner of a company with sales turnover of RM8.7mil last year selling health and cosmetic products. Her company currently has some 10,000 stockiest and resellers who mostly sell their products over social media. "My vision is to create 1,000 women millionaires and to achieve this I conduct free training programmers and classes every week," said Sailajah when contacted. Sailajah said it made her happy to see the women achieve financial independence through her company. "They earn very good incomes and are able to give their children the best. "Some are even able to send their children to private schools and have bought their own cars and houses," she added. According to Sailajah, some of her resellers say they had felt useless and unappreciated before starting to earn their own money. She added several of her resellers were from simple backgrounds with minimal education and hence gaining financial independence was a big deal to them. "We have high income earners who have only completed Year Six and never went to secondary school at all. "One of our stockiest has also touched RMI mil in annual sales consecutively for three years now," said Sailajah, who worked as an account executive before starting her business. She added that she advises her resellers to use social media to create their personal branding and identity. L. Nishanti, who used her husband's M500 I-Citra Employees Provident Fund withdrawal to turn her mother's tokku (pickle) recipe into a hot seller in 2020, is also helping many other women as her business grows. "Growing my business has changed my life and I want to help other women change their lives too," said Nisha whose brand Nisha's Homemade Tokku is also currently being retailed in nine stores. She also has 500 resellers and stockiest nationwide who sell her tokku for a commission. "I tells my ladies that I am giving them a blank cheque and it is up to them to fill the amount and work hard to achieve it," said Nishanti. She said all her resellers were homemakers who sold her products through social media. Meanwhile, Kuala Lumpur and Selangor Indian Chamber of Commerce and Industry (KLSICCI) president Nivas Ragavan said social media savvy entrepreneurs like Sailajah and Nishanti have enabled B40 and M40 women to become homepreneurs who earn good incomes. "They have also created an ecosystem of micro business entrepreneurs by providing them marketing capacity and training," said Nivas, adding that this is creating a rising number of Indian women entrepreneurs. He urged the home preneurs to register their business and maintain a proper accounting system to become credit worthy so that they can further grow their business. Source: The star, Thursday, 20 April 2023 a) What is entrepreneurship and why is it important? b) Based on the above article, identify, and discuss FOUR (4) main characteristics that Sailajah has in becoming a successful entrepreneur. c) Explain THREE (3) challenges that Sailajah faced at the initial stage of her business. d) Discuss TWO (2) strategies that Sailajah can employ to foster business expansion. Provide an example to support. The past perception that it was difficult for Indian women to achieve success in business has been shattered as many had emerged as successful entrepreneurs' in the last decade, with some of them enjoying earnings that run into millions. Exploiting the various social media platforms to the maximum, these women have also paved the way for many others to earn comfortable incomes through their endeavors. Sailajah Selveekam, 36, who sold her first product online in 2013 is now the proud owner of a company with sales turnover of RM8.7mil last year selling health and cosmetic products. Her company currently has some 10,000 stockiest and resellers who mostly sell their products over social media. "My vision is to create 1,000 women millionaires and to achieve this I conduct free training programmers and classes every week," said Sailajah when contacted. Sailajah said it made her happy to see the women achieve financial independence through her company. "They earn very good incomes and are able to give their children the best. "Some are even able to send their children to private schools and have bought their own cars and houses," she added. According to Sailajah, some of her resellers say they had felt useless and unappreciated before starting to earn their own money. She added several of her resellers were from simple backgrounds with minimal education and hence gaining financial independence was a big deal to them. "We have high income earners who have only completed Year Six and never went to secondary school at all. "One of our stockiest has also touched RMI mil in annual sales consecutively for three years now," said Sailajah, who worked as an account executive before starting her business. She added that she advises her resellers to use social media to create their personal branding and identity. L. Nishanti, who used her husband's M500 I-Citra Employees Provident Fund withdrawal to turn her mother's tokku (pickle) recipe into a hot seller in 2020, is also helping many other women as her business grows. "Growing my business has changed my life and I want to help other women change their lives too," said Nisha whose brand Nisha's Homemade Tokku is also currently being retailed in nine stores. She also has 500 resellers and stockiest nationwide who sell her tokku for a commission. "I tells my ladies that I am giving them a blank cheque and it is up to them to fill the amount and work hard to achieve it," said Nishanti. She said all her resellers were homemakers who sold her products through social media. Meanwhile, Kuala Lumpur and Selangor Indian Chamber of Commerce and Industry (KLSICCI) president Nivas Ragavan said social media savvy entrepreneurs like Sailajah and Nishanti have enabled B40 and M40 women to become homepreneurs who earn good incomes. "They have also created an ecosystem of micro business entrepreneurs by providing them marketing capacity and training," said Nivas, adding that this is creating a rising number of Indian women entrepreneurs. He urged the home preneurs to register their business and maintain a proper accounting system to become credit worthy so that they can further grow their business. Source: The star, Thursday, 20 April 2023 a) What is entrepreneurship and why is it important? b) Based on the above article, identify, and discuss FOUR (4) main characteristics that Sailajah has in becoming a successful entrepreneur. c) Explain THREE (3) challenges that Sailajah faced at the initial stage of her business. d) Discuss TWO (2) strategies that Sailajah can employ to foster business expansion. Provide an example to support.

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ANSWER a Entrepreneurship refers to the process of creating developing and managing a business venture with the aim of making a profit It involves identifying opportunities taking calculated risks and ... View the full answer