Steering the Future: Female Entrepreneurship in the Digital Economy.
Entrepreneurship in the digital economy refers to the emerging business affairs connecting individuals, organizations, data and operations through digital technologies. It includes online mediums and transactions across public and private sectors using internet, big data, information and communication technologies. It drives digital innovation through AI (Artificial intelligence), (VR) Virtual Reality and internet of things (IOT). These vehicles of digital economy allow entrepreneurs of all genders to open new venues of businesses that are cost-effective, inclusive and risk-free. Researchers and activists worked tirelessly to frame female entrepreneurs’ participation in the digital economy. The term ‘female entrepreneurship’ has been closely associated with the concepts of leadership, independence, empowerment and professional growth, thus increasing women’s quality of life and contributing to the economy.
Women workforce participation in the digital economy is like steering the future for sustainable development. According to the Women World Labor Force participation rate, ASEAN (Association of South East Asian Nations) participation is much less compared to the developed world. This led to a gender economic divide where women have 54% participation as compared to their male counterparts which is 67% in the global economy. To illustrate the participation rate for the digital economy, the results are even gloomier because female here represents 35% and men adheres to 80% in the digital economy, creating a strong digital divide. However, technology as an enabler allows females to have a work-life balance and many young female entrepreneurs are using digital skills to market their brands such as social media content, audience engagement, and advertising. Virtual workspace and digital mobile lifestyles are perceived as new digital models for flexi-schedules without any traditional obstacles.
In the multitasking whirlpool of the digital global economy, women have a slight edge. They face role conflicts and are experienced by being pulled in all directions through social and family roles while creating a superwoman or superhuman identity. The evolving digital landscape allows women to break the glass ceiling and incorporate them in the digital entrepreneur world.
Digital Marketing
One of the building blocks of digital economy is digital marketing. Here, women have played a significant part and evolved as leaders in the digital marketing environment. Women entrepreneurs started gaining prominence during the late 20th century with the advent of internet. They are involved in the foundational areas of digital marketing such as graphic designing, web development and content creation. With the passage of time, pioneering women leaders started making wonderful strides over time. They are engaged in social media management, early creation of digital community buildings, and advocate digital marketing for the products. Women gradually acquired leadership roles with the evolving paradigm of digital market. Many formed digital marketing agencies, marketing departments for various public and private organizations and tech companies. To include inclusivity and diversity in the workplace, business women started introducing skill sets required for young emerging marketing entrepreneurs especially females. This will add the presence of women in the managerial and executive positions within digital marketing. Finally, in the 21st century, digital marketing women leaders brought innovation and strategies to the table by introducing empathy-driven marketing, creativity, and relationship-building initiatives to hold consumer engagement. These engagements required digital tools such as data-driven marketing, AI integrations, and personalized consumer experience.