The link between women entrepreneurship, innovation and stakeholder engagement: A review

While, women entrepreneurship is synonymous with women empowerment, tremendously contributing to growth of the economy, sustainable entrepreneurship calls for innovations and successful diffusion. Barriers like lower entrepreneurial ability, lack of funds, etc., often inhibit women entrepreneurial innovations. The main objective of this paper is to examine whether women entrepreneurship innovations can be fostered through stakeholders' involvement and engagement. For this prior studies were referred and a conceptual framework involving proactive, interactive two-way stakeholder engagement process between women enterprises and stakeholders; divided into three interconnected parts; along with institutional support is suggested. Stakeholder engagement as a long term growth strategy to build competitive advantage calls for collaborative endeavors, wherein stakeholders work-together to pursue mutually-beneficial, multitudinous goals, which should encourage innovative women entrepreneurial initiatives. Furthermore, the suggested framework, as an interactive, two-way, continuous process interlinking the variables, would help management to work at increasing collaborative value creations through innovative women entrepreneurial ventures.