Investigating key dimensions for the development of women-owned enterprises : interpretive structural modeling and MICMAC approach

Purpose: Women-owned enterprises (WOEs) are one of the fastest-growing entrepreneurial sectors in the world. Therefore, this study aims to identify and develop the structural cause and effect relationship among the various strategic dimensions that affect the performance of WOEs in the Indian context. Design/methodology/approach: With the help of the questionnaire survey, the data has been gathered. Further, the experts’ opinions are considered, which is followed by interpretative structural modeling and the impact matrix cross-reference multiplication applied to a classification (MICMAC) approach to explore the 13 dimensions associated with the development of WOEs such as work–life balance (WLB), entrepreneurial learning (EL), competencies, social identity (SI) and culture. Findings: WLB and support of financial institutions are the dominant independent dimensions and EL and competencies have emerged as dominant dependent dimensions, which impact the development of WOEs. The other linkage dimensions are experience, entrepreneurship education and training, SI, government, non-government organizations, family, friends, culture, role models, etc. Research limitations/implications: This conceptual model can be validated for any type of WOEs in India and in other countries. Practical implications: Through this study, the academicians, decision-makers and policymakers must become aware of the importance of each dimension and their relatedness with each other, which provides the direction for designing and implementing appropriate policies to enhance the growth of WOEs. Originality/value: This is the foremost research that provides an interpretive structural conceptual model to develop a map of the complex relationships and magnitude among the identified dimensions of WOEs.