Women Entrepreneurs Success

In general entrepreneurial is commonly related with venturesome or creative in terms of acquiring the resources an entrepreneurs needs to build and grow her business (Wendy and Chong, 2007). Literature suggested that definitions of competency are varying in different counts. Kochahadai (2012) simplify that the components consist of knowledge, skill, abilities and other characteristics that underlie effective to successful job performance are found in all the proposed definitions. Bird (1995) defined entrepreneurial competencies as underlying characteristics possessed by a person, which result in new venture creation, survival and growth.

The entrepreneurs are characterized principally by innovative behavior and will employ strategic management practices in business (Birley, 1996). Moreover entrepreneurial competencies such as goal setting and risk taking are the factors that found in previous research influencing the success of women entrepreneurs in business (Wendy & Chong, 2007). Bernama (2006) reported that a Malaysian woman entrepreneur must have self confident, courage and strong will in order to success in business venture.

Recently, the firm’s performance is affected by the opportunities and the threats causes by several factors such as environmental conditions where the firm operates (Zahra, 1993). Therefore, it is important for entrepreneurs to be more sensitive and react proactively toward the environment changes in order to minimize the negative impact on the business performance. In this situation, entrepreneurial competencies turn out to play crucial roles that drive entrepreneurs to sustain in challenging business environment. The role of entrepreneurial competencies can be highlighted as critical factor for entrepreneurs to excel in business and ensure their sustainability and success of their business in competitive environment.