Identifications and Exploitation of a Business Opportunity: Case of Women Entrepreneurship in India
It is unknown how Yoruba women textile traders organize their textile enterprises, despite the vagaries of informal economy. However, in an informal economy, trade in every commodity has its own social organizational structures and politics. Scholars have argued that commodity needs to be separately studied so to detangle the various structures and politics associated with each commodity so that behavioural patterns that lead to entrepreneurial development can be determined. The focus of this paper therefore is to examine the organizational strategies of Yoruba women textile traders. The paper hinges on social action theory by Max Weber. The research design is qualitative in nature. Eight focus group discussions were conducted among the women respondents; Forty (40) in depth- Interview, and six case- studies were conducted. The findings reveals that in social organization of textile trading, several unique methods were adopted such as; placing of exclusive rights on some textile materials, innovation and imitation of textile materials for continuous trading of textile materials. In promotion of textile materials, the finding reveals that economic and non-economic activities were utilized to promote sales. While some classical tenets of entrepreneurship, were adopted by the women in recording the transactions. The paper recommends innovative attitude, importance of role mentors, building of social Capital among other traders in the market, and teaching of record keeping of transaction. All these are essential tools for women entrepreneurship development in informal economy.
