Harvard Case - Empowering Female Micro-entrepreneurs through Education: Raising Half the Sky in Just Three Hours
"Empowering Female Micro-entrepreneurs through Education: Raising Half the Sky in Just Three Hours" Harvard business case study is written by Christine Pearson. It deals with the challenges in the field of Entrepreneurship. The case study is 7 page(s) long and it was first published on : Dec 15, 2015
At Fern Fort University, we recommend a multi-pronged approach to empower female micro-entrepreneurs in Bangladesh through a combination of education, mentorship, and access to resources. This strategy will be implemented through a series of three-hour workshops, leveraging technology and a collaborative ecosystem to achieve sustainable impact.
2. Background
This case study focuses on the challenges faced by female micro-entrepreneurs in Bangladesh, particularly their limited access to education, financial resources, and business networks. The case highlights the potential of short, intensive workshops to equip these women with essential entrepreneurial skills and knowledge. The initiative is spearheaded by Fern Fort University, a non-profit organization dedicated to empowering women through education.
The main protagonists are the female micro-entrepreneurs themselves, who represent a diverse group of women from various backgrounds and industries. They are the primary beneficiaries of the program and the driving force behind its success.
3. Analysis of the Case Study
The case study presents a unique opportunity to leverage the power of education and technology to empower women and drive economic growth. To analyze the situation, we can utilize the following frameworks:
a) SWOT Analysis:
- Strengths:
- Fern Fort University?s existing infrastructure and expertise in women?s education.
- The potential for impactful learning through short, intensive workshops.
- The growing demand for entrepreneurial skills and knowledge in Bangladesh.
- Weaknesses:
- Limited resources and funding for program expansion.
- Potential challenges in reaching women in remote areas.
- Difficulty in ensuring long-term sustainability of the program.
- Opportunities:
- Partnerships with local NGOs and government organizations.
- Leveraging technology for online learning and resource sharing.
- Expanding the program to other countries with similar challenges.
- Threats:
- Competition from other educational programs.
- Lack of government support and policy changes.
- Potential for program duplication and inefficiency.
b) Porter?s Five Forces:
- Threat of New Entrants: High, as the program?s model is relatively easy to replicate.
- Bargaining Power of Buyers: Low, as the program caters to a specific target audience.
- Bargaining Power of Suppliers: Low, as the program relies on readily available resources.
- Threat of Substitute Products: High, as other educational programs and resources exist.
- Rivalry Among Existing Competitors: Moderate, as several organizations are involved in women?s empowerment initiatives.
c) Business Model Canvas:
- Value Propositions: Providing essential entrepreneurial skills and knowledge, fostering a supportive network, and facilitating access to resources.
- Customer Segments: Female micro-entrepreneurs in Bangladesh.
- Channels: Workshops, online platforms, and partnerships with local organizations.
- Customer Relationships: Building trust and rapport through mentorship and ongoing support.
- Revenue Streams: Grants, donations, and potential partnerships with businesses.
- Key Activities: Developing curriculum, delivering workshops, providing mentorship, and managing resources.
- Key Resources: Faculty, technology infrastructure, and partnerships.
- Key Partnerships: Local NGOs, government agencies, and businesses.
- Cost Structure: Program development, faculty salaries, technology costs, and administrative expenses.
4. Recommendations
a) Develop a comprehensive curriculum:
- Focus on practical skills: The curriculum should emphasize practical skills like financial management, marketing, and customer service, relevant to the specific needs of micro-entrepreneurs.
- Incorporate digital literacy: Integrate digital literacy skills, including using social media for marketing and accessing online resources.
- Promote innovation and entrepreneurship: Encourage creative thinking and problem-solving, fostering an entrepreneurial mindset.
b) Leverage technology for scalability and reach:
- Develop a mobile application: Create a user-friendly mobile application for accessing learning materials, connecting with mentors, and accessing resources.
- Implement online learning modules: Utilize online platforms for delivering some modules, allowing for flexibility and accessibility.
- Utilize social media for engagement: Create a social media presence to promote the program, share resources, and foster online communities.
c) Foster a supportive ecosystem:
- Establish mentorship programs: Connect female micro-entrepreneurs with experienced businesswomen and mentors for guidance and support.
- Facilitate networking opportunities: Organize events and workshops where participants can connect with each other and potential investors.
- Partner with local organizations: Collaborate with NGOs, government agencies, and businesses to provide access to resources, funding, and market opportunities.
d) Implement a phased approach:
- Pilot program: Start with a pilot program to test and refine the curriculum and delivery methods.
- Scaling up: Based on the pilot program?s success, gradually expand the program to reach more women in different regions.
- Sustainability: Develop a sustainable model for the program, exploring funding options and partnerships.
5. Basis of Recommendations
These recommendations are based on the following considerations:
- Core competencies and mission: The recommendations align with Fern Fort University?s mission to empower women through education, leveraging its existing expertise and resources.
- External customers and internal clients: The recommendations focus on meeting the specific needs of female micro-entrepreneurs, providing them with the skills and resources they require to succeed.
- Competitors: The recommendations aim to differentiate the program from competitors by focusing on practical skills, technology integration, and a supportive ecosystem.
- Attractiveness: The program?s potential for positive impact on women?s lives, economic growth, and social development makes it attractive to potential funders and partners.
6. Conclusion
By implementing these recommendations, Fern Fort University can effectively empower female micro-entrepreneurs in Bangladesh, contributing to their economic empowerment and social progress. The program?s focus on practical skills, technology integration, and a supportive ecosystem will create a lasting impact, fostering a new generation of female entrepreneurs who are equipped to thrive in a rapidly changing world.
7. Discussion
Other alternatives not selected include:
- Focusing solely on traditional classroom-based learning: This approach may not be as effective in reaching women in remote areas and may not cater to diverse learning styles.
- Partnering with existing microfinance institutions: While this approach could provide access to funding, it may not address the need for skills development and business knowledge.
Key risks and assumptions:
- Limited funding: The program?s success depends on securing adequate funding for its implementation and expansion.
- Lack of government support: Government support and policy changes are crucial for creating a favorable environment for women entrepreneurs.
- Program sustainability: Ensuring the program?s long-term sustainability requires developing a robust funding model and building strong partnerships.
8. Next Steps
- Develop a detailed program plan: Outline the curriculum, delivery methods, and resource requirements.
- Secure funding: Identify potential funding sources and develop a funding proposal.
- Recruit mentors and faculty: Identify experienced businesswomen and educators to lead the program.
- Pilot program launch: Implement a pilot program to test and refine the program?s effectiveness.
- Program expansion: Based on the pilot program?s success, expand the program to reach more women in different regions.
By taking these steps, Fern Fort University can successfully implement a program that empowers female micro-entrepreneurs in Bangladesh, contributing to their economic empowerment and social progress.
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Case Description
This case examines Project Salta (Salta) a multi-year collaborative experiment among financial institutions, a foreign government aid agency, and a global management school. Binding goals of Salta were to provide practical business information in sessions of short duration to micro-entrepreneurs operating at or near the bottom of the socio-economic pyramid, while keeping sponsors' costs exceptionally low. Salta serves as a test case and potential template for organizations investing in educating micro-entrepreneurs via lessons that are information, engaging, memorable and affordable. Details are provided regarding the origins and setting of the Salta program, its targeted participants, and parameters for the roll-out of the program. Students using the case are challenged to think creatively about how they would translate their understanding of basic business knowledge into the fundamentals needed to thrive as a micro-entrepreneur in a developing country. The case is especially relevant to individuals or organizations considering or engaging in corporate social responsibility opportunities. It is also highly relevant to empowerment of women at or near the base of the socio-economic pyramid, as well as micro-entrepreneurs in developing countries. Lessons center on challenges and advantages of educational philanthropy for these populations.
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