Definition of Success According to Women Entrepreneur in Malang, Indonesia

• Published in: The Journal of Asian finance, economics, and business Vol. 7; no. 9; pp. 747 - 753
• Main Authors: PRAJAWATI, Maretha Ika, WAHJOEDI, Wahjoedi, WAHYONO, Hari, SUNARYANTO, Sunaryanto
• Format: Journal Article
• Language: Korean
• Published: 한국유통과학회 30.09.2020; Korea Distribution Science Association
• Subjects: Financial Economic; Business Sustainability; Motivation; Woman Entrepreneur; Entrepreneurial Satisfaction
• ISSN: 2288-4637; 2288-4645

This study aims to interpret the meaning of a successful entrepreneur from the perspective of women entrepreneurs in Malang, Indonesia. This research offers a phenomenological approach using purposive sampling. Data was collected by in-depth interviews using structured questionnaire with registered women entrepreneurs in Malang obtained from MSMEs (micro small and medium-sized enterprises) entrepreneurs. The 'continually developing' is one of the meanings of a successful entrepreneur. This study also found that success is when what women do can be useful to others. Besides, the meaning of success has two criteria, i.e., when they can meet their needs (individual satisfaction) and social performance as a goal to be achieved by entrepreneurs. The motivation of women entrepreneurs to establish their venture was not only financial returns, but also personal satisfaction, which was also the indicator of entrepreneurial success for women. This study has several limitations. First, our sample size is too small and consists of entrepreneurs that have an average age above 40 years. Hopefully, further research will be able to generalize our findings to a broader sample in various industries outside the city of Malang. As our research shows, the criteria and meaning of success may be different for a larger sample of entrepreneurs.