Maria Teresa Lepeley President, CEO GIQE December 3, 2015 IAoM 2015 Conference Santiago, Chile Universidad del Desarrollo PDW: Women in Entrepreneurship: Need for Participation and Innovation to foster Business Sustainability in the Global Economy Maria Teresa Lepeley President, CEO GIQE December 3, 2015

Joseph Schumpeter, Austrian American economist pioneered study of entrepreneurship “The Creative Response in Economic History” (1947): entrepreneurs will change the world with innovations and technology Bill Gates, Steve Jobs, Mark Zuckerberg a few examples…

Women in entrepreneurship List of famous entrepreneurs is long, but few women are included. Historic trend shows: persistent inequality in workforce unsolved problems women confront to start a business or entrepreneurial activity

Women participation in the Global Economy Women are 52% of world population Problem: Limited participation in leadership, paid economic & business activity worldwide Solutions: Market economies create unprecedented opportunities for women Economic growth and development: increasingly related to women’s participation in entrepreneurial activity in developing and developed nations

Women Participation in Entrepreneurial Activity Women-owned businesses: 25% of total in stable market economies Participation of women in entrepreneurial activity varies significantly but it is steadily increasing worldwide

Women in Entrepreneurship: Inducing Factors Necessity Entrepreneurship: Based on basic needs for survival income Most common in less developed countries Opportunity Entrepreneurship Based on business opportunity to increased income and economic benefit Most common in developed countries and stable market economies

Women in Entrepreneurship: Empowering Factors Stable market economies Women in leadership positions Equal access to education and training at all levels (particularly in management & STEM) Effective government policies promoting entrepreneurial activity for women Legal systems protecting gender parity

Women in Entrepreneurship: Regional and Global Challenges Obstacles to get credit & financing Lack of leadership skills Lack of management skills Lack of negotiation skills Lack of legal protection Lack of national policies that promote women entrepreneurship Lack of skills and resources to deal with bureaucracies Global Obsolete female stereotypes Need to balance family & business Lack business education, technical skills, and negotiation skills Lack of role models in high tech fields

“Latin American Entrepreneurs: Many Firms but Little Innovation” World Bank Report (2013): Latin American dichotomy: high level of firm creation with low impact on economic growth

Chile Global Competitiveness 13th place 1995 33rd place 2013 Source: World Economic Forum

The Global Knowledge Society: Evolution of talentism Most critical obstacles to advance entrepreneurial creation and business growth: lack of understanding of impact of change and technology in production processes and labor markets. Productivity and competitive advantages: increasingly driven by innovation and continuous improvement as economies worldwide are transitioning from capitalism to “talentism”. National programs to address talentism challenges in developing countries are rare. Today human talent has surpassed physical capital as most important factor of production. Gender parity is critical because women are over ½ of the global talent pool. Efficient use of women’s talent is essential to foster national competitiveness and economic growth.

McKinsey Global Institute MGI The Power of Parity Report (September 2015) Advancing women’s equality can add $US 12 trillions to global growth

Lepeley’s proposal to increase global women parity Increase women in leadership: role models incentive women’s participation Intensive development of women leadership training and skills Deployment of Human Centered Management model developed by Lepeley (follow up in her website): Human Centered Management is the missing link to attain sustainable quality in education and form graduates with talent to nurture social responsible organizations necessary to build robust markets, sustainable economies, and a global and inclusive Knowledge Society Increase women participation in entrepreneurship emphasizing sustainable quality management & high technology (Kuschel & Lepeley studies)

Maria-Teresa Lepeley President & CEO Winter Park, Florida. USA www Maria-Teresa Lepeley President & CEO Winter Park, Florida. USA www.globalqualityeducation.org mtlepeley@globalqualityeducation.org