Digital Empowerment Of Women Entrepreneurs PDF

Digital Empowerment of Women Entrepreneurs Women Entrepreneur Track Digital Empowerment of Women Entrepreneurs This work is available open access by complying with the Creative Commons license created for inter-governmental organizations, available at: http://creativecommons.org/licenses/by/3.0/igo/ Publishers must remove the United Nations emblem from their edition and create a new cover design. Translations must bear the following disclaimers: “The present work is an unofficial translation for which the publisher accepts full responsibility.” Publishers should email the file of their edition to [email protected] Photocopies and reproductions of excerpts are allowed with proper credits. Disclaimers: The views expressed herein are those of the authors, and do not necessarily reflect the views of the United Nations. This publication has been issued without formal editing, and the designations employed, and material presented do not imply the expression of any opinion whatsoever on the part of the Secretariat of the United Nations concerning the status of any country, territory, city or area, or of its authorities, or concerning the delimitation of its frontiers or boundaries. Mention of firm names and commercial products does not imply the endorsement of the United Nations. Correspondence concerning this report should be addressed to the email: [email protected] Copyright © United Nations 2024 All right reserved Printed in Republic of Korea Cover design: Amal Kadir Contact: Asian and Pacific Training Centre for Information and Communication Technology for Development (APCICT/ESCAP) 5th Floor G-Tower, 175 Art Center Daero Yeonsu-gu, Incheon, Republic of Korea Tel +82 32 458 6650 Email: [email protected] ii PREFACE The Women ICT Frontier Initiative (WIFI), launched in 2016, is APCICT’s flagship ICT capacity-building programme for women’s entrepreneurship. It aims to enhance the skills of women entrepreneurs in utilizing digital tools in their businesses. It also seeks to support policymakers in creating an environment that is conducive for digitally-empowered women entrepreneurs. Recent challenges in the global landscape, such as the COVID-19 pandemic, necessitated a review of APCICT’s training support for women entrepreneurs. The pandemic was a wake-up call that significantly impacted women-owned enterprises and underscored the importance of the digital transformation of businesses. It not only exposed vulnerabilities but also the need for women entrepreneurs to harness the power of technology in a holistic manner. APCICT revamped the WIFI programme (now called WIFI DX) to equip women entrepreneurs with practical tools to navigate disruptions and harness the benefits of digital transformation effectively. With WIFI DX, new courses have been developed, encompassing e-commerce and digital marketing, digital financial literacy, data analytics, trust and security, and business continuity planning. It is our hope that WIFI DX programme will serve as a valuable resource for women entrepreneurs in the region, so that their enterprises can thrive, become more productive, and sustainable. Kiyoung Ko Director APCICT/ESCAP iii ABOUT THE COURSE The Digital Empowerment of Women Entrepreneurs course serves as the cornerstone of WIFI DX providing women entrepreneurs with essential knowledge on digital transformation and innovation. The WIFI DX courses will help women entrepreneurs build strategic perspectives in their digital business transformation journeys. This course instils the mindset and motivation required to embark on a transformative journey, while also highlighting the relevance and benefits of the other five specialized courses, namely E-Commerce and Digital Marketing, Digital Technologies and Financial Management, Data Analytics for Women Entrepreneurs, Trust and Security Using Digital Technologies and Business Continuity Planning. Course Target Audience Women Entrepreneurs Course Trainers Course Learning Objectives 1. Comprehend the fundamental concepts of business innovation & digital transformation. 2. Appreciate the benefits of five specialized courses of WIFI DX (E-Commerce and Digital Marketing, Digital Technologies and Financial Management, Data Analytics for Women Entrepreneurs, Trust and Security Using Digital Technologies and Business Continuity Planning) to reduce issues and challenges faced by women entrepreneurs. 3. Apply lessons learned from relevant case studies and create action plans for their own businesses. iv Course Learning Outcomes 1. Women entrepreneurs can understand the basic concepts of business innovation and digital transformation. 2. Appreciate the benefits of the specialized courses in reducing their issues and challenges. 3. Participants are motivated to use and apply the knowledge derived from the course. Acknowledgements The Digital Empowerment of Women Entrepreneurs module was developed under the overall guidance of Kiyoung Ko, Director of the Asian and Pacific Training Centre for Information and Communication Technology for Development (APCICT/ESCAP). The developed module was coordinated by Robert de Jesus. The module was written by Irene Boey and Maria Macapagal. The cover design and proofreading was done by Amal Kadir and Regina Ulibasa Patricia. Publication layout was provided by Ho-Din Ligay. Joo-Eun Chung and Van Anh Nguyen undertook adminsitrative processing necessary for the issuance of the module. v Contents MODULE 1: FOUNDATION KNOWLEDGE & CURRENT SITUATION 1 Lesson 1: Essential knowledge on digital transformation & business innovation 2 Lesson 2: Benefits of the WIFI DX Specialized Courses 31 Lesson 3: Discussion on issues and challenges of women entrepreneurs 41 MODULE 2: DIGITALLY EMPOWERED WOMEN ENTREPRENEURS: APPLICATIONS & LESSONS LEARNT 50 Lesson 1: Women entrepreneur in MSME businesses 51 Lesson 2: Lessons Learnt 59 MODULE 3: IDEATION AND ACTION PLAN 67 Lesson 1: Business application: Ideation & action planning 67 Lesson 2: Discussion 78 COURSE WRAP UP 81 COURSE REFERENCES 83 vi List of Figures Figure 1. Four stages of design thinking. From Michael Boyles, Innovation in Business: What it is and Why it’s so important (March 2022) 22 Figure 2. WIFI DX Framework 32 Figure 3. WIFI DX Specialized Courses 33 Figure 4. Structural, Socio-cultural, and Individual Challenges of Women Entrepreneurs 42 Figure 5. Business Model Canvas template 70 Figure 6. Lean Business Model Canvas 71 Figure 7. BMC sample of a small-scale online retail business 78 vii Foundation Knowledge & Current Situation MODULE 1: FOUNDATION KNOWLEDGE & CURRENT SITUATION Description This module introduces and describes the reasons that justifies the need for women entrepreneurs to integrate business innovation and digital transformation in their business. Objectives The learning objectives of this module are: Understand fundamental concepts of business innovation & digital transformation and the situation of women entrepreneurs. Learn the advantages of having innovative and digital empowered business and the benefits of the five specialized courses under the WIFI DX program. Understand the actual problems faced by women entrepreneurs and the gaps of the enabling environment. Learning Outcomes Women entrepreneurs appreciate the basic concepts of business innovation and digital transformation. Become aware of the benefits of digital transformation, innovation and the five specialized courses to their businesses. Understand how their issues and challenges can be reduced. Key messages The module key messages: Business innovation and digital transformation can make women entrepreneurs’ business more effective and efficient. Digital transformation can enhance customer engagement, facilitate informed decision making, 1 Digital Empowerment of Women Entrepreneurs market reach and global presence, business efficiency and cost reduction. Business innovation can develop new customers or expand market reach and can generate more income. The specialized courses when applied can provide benefits to women entrepreneurs’ business enterprises. Opportunities, issues, and challenges are part of women entrepreneurs’ business transformation journey. Lessons can be learned from the issues and challenges experienced by women entrepreneurs and how digital transformation and innovation can help reduce these. Lesson 1: Essential knowledge on digital transformation & business innovation Lesson Introduction The concepts of digital transformation and business innovations are defined here as the cornerstone or fundamental platforms of the upgraded WIFI DX Program for women entrepreneurs. The basic definitions are explained in simple terms with examples for easier understanding of the target audience. Digital transformation Digital transformation refers to the process of leveraging digital technologies to innovate, streamline operations, and enhance customer experiences across various aspects of business. It involves adopting new digital technologies, reimagining business processes, and fostering a culture of innovation to drive growth and competitiveness in the digital age. 2 Foundation Knowledge & Current Situation In today’s fast-paced and increasingly digital world, the landscape of business is undergoing a profound transformation. Central to this evolution is the concept of digital transformation, which entails harnessing the power of digital technologies to revolutionize the way businesses operate, interact with customers, and innovate. Let us explore the importance of digital transformation for women entrepreneurs and delve into examples that illustrate its impact. Digital transformation is not merely a buzzword; it represents a strategic approach that can empower women entrepreneurs to thrive in a dynamic business environment. With the right tools and knowledge, women can leverage digital technologies to level the playing field and create opportunities that were once unimaginable. One of the key aspects of digital transformation is data analytics. By gathering and analysing data, businesses can gain valuable insights into customer behaviour and market trends. For women entrepreneurs, this can be a game-changer. Imagine a female-led e-commerce business that uses data analytics to track customer preferences and tailor product recommendations. This personalization not only increases sales but also enhances customer satisfaction, paving the way for sustainable growth. Cloud computing is another pillar of digital transformation. It allows businesses, including those led by women, to access computing resources on-demand, reducing IT infrastructure costs and enhancing flexibility. Small businesses can migrate their operations to the cloud, ensuring that they have the same access to technology as larger enterprises. This not only fosters efficiency but also levels the business playing field. Internet of Things (IOT) technology provides another avenue for empowerment. Consider a smart agricultural startup founded by a woman entrepreneur. By deploying IoT sensors to monitor soil moisture levels and weather conditions, farmers can make data-driven decisions to optimize irrigation and crop planting. This empowers female farmers 3 Digital Empowerment of Women Entrepreneurs to increase their yields, improve their livelihoods, and make a significant impact on their communities. Furthermore, automation and robotics play a crucial role in streamlining operations. In sectors as diverse as manufacturing and healthcare, women-led businesses can employ automation to reduce labour costs and increase efficiency. This frees up resources for innovation and growth. Artificial intelligence (AI) and machine learning offer immense potential for women entrepreneurs. AI-driven diagnostic tools in healthcare, for instance, enable doctors to detect diseases earlier and provide more accurate treatment recommendations. Women in healthcare can harness these technologies to improve patient outcomes and revolutionize their practices. Digital marketing and customer engagement are also integral to success in the digital economy. Female entrepreneurs can utilize social media, email marketing, and content marketing to attract and retain customers. By understanding customer preferences and behaviour, they can tailor their marketing strategies, leading to increased brand loyalty and business growth. E-commerce and online sales have become lifelines for businesses, particularly during the COVID-19 pandemic. Traditional brick-and- mortar retailers can pivot to online sales channels, allowing them to reach a broader audience and diversify their revenue streams. Women entrepreneurs can tap into the global marketplace, expanding their businesses beyond geographical boundaries. Moreover, digital transformation offers opportunities to enhance customer development and the overall customer experience. For example, a restaurant can implement a mobile app for ordering and payment, providing customers with convenience and personalization. 4 Foundation Knowledge & Current Situation Women in the hospitality industry can utilize such technologies to create memorable dining experiences. Supply chain optimization, another facet of digital transformation, is essential for businesses of all sizes. By using blockchain technology to track the movement of goods, manufacturers can ensure transparency, reduce delays, and protect their products’ authenticity. Women entrepreneurs in supply chain-dependent industries can benefit from these advancements, building trust and efficiency into their operations. Lastly, cybersecurity and data protection are paramount. Women-led businesses must invest in robust security measures to safeguard customer data and their operations. This not only protects their reputation but also ensures compliance with privacy regulations. Digital transformation is more than a technological trend; it represents a pathway to empowerment for women entrepreneurs. As exemplified by the diverse examples above, digital transformation touches every facet of business, from data analytics to cybersecurity. It levels the playing field, fosters innovation, and opens up new horizons. Empowering women through digital transformation requires access to education and resources. Governments, private sector organizations, and civil society must collaborate to provide training programs, mentorship opportunities, and funding support for female entrepreneurs. By doing so, we can create an inclusive digital economy where women can participate in shaping the future of business. Digital transformation presents numerous advantages for women entrepreneurs, including expanded market reach facilitated by access to global markets through digital platforms and e-commerce, heightened operational efficiency and productivity achieved through automation and streamlined processes, and enhanced customer engagement fostered by personalized interactions and data-driven insights. Moreover, 5 Digital Empowerment of Women Entrepreneurs digital technologies empower women entrepreneurs to make informed decisions based on valuable data analytics, enabling strategic planning and optimization. The flexibility and agility afforded by digital tools allow swift adaptation to market dynamics, while fostering a culture of innovation and experimentation. Ultimately, digital transformation equips women-owned businesses with the means to differentiate themselves, drive competitive advantage, and thrive in the rapidly evolving digital landscape. Here are several digital technologies that can enhance the process of digital transformation. Data analytics: Personalized e-commerce recommendations boost sales and satisfaction. Cloud computing: Small businesses access on-demand resources, levelling the playing field. IoT technology: Women in smart agriculture make data-driven decisions for increased yields. Automation and robotics: Streamlines operations, reduces costs, fosters innovation. AI and machine learning: Improved business insights, enhancing decision-making processes and overall operational efficiency. Digital marketing: Social media, email, and content marketing for customer attraction and retention. E-commerce: Global reach and revenue diversification for women entrepreneurs. Cybersecurity: Paramount for safeguarding customer data and ensuring compliance. While this WIFI DX program will delve into data analytics, digital marketing, and e-commerce individually, it is also valuable for participants to explore the following digital technologies: cloud computing, IoT technologies, automation & robotics, cybersecurity, AI, and machine learning. These technologies offer significant benefits to women entrepreneurs embarking on digital transformation journeys. Here are more details. 6 Foundation Knowledge & Current Situation Cloud computing Cloud computing has emerged as a cornerstone of modern business infrastructure, revolutionizing the way companies operate in the digital age. Cloud computing refers to the delivery of computing services— including servers, storage, databases, networking, software, and analytics—over the internet. Rather than maintaining physical hardware and infrastructure on-premises, businesses can leverage the resources of cloud service providers, accessing them remotely via the internet. One of the primary ways cloud computing aids in digital transformation is by providing scalability and flexibility. This is particularly beneficial for women entrepreneurs as it enhances their ability to leverage technology by reducing significant upfront investment. Moreover, cloud computing allows businesses to scale their resources up or down rapidly in response to changing demands. This agility is particularly useful in today’s fast- paced, dynamic business environment, enabling women entrepreneurs to innovate and adapt more quickly. At its core, cloud computing provides access to on-demand resources and services over the internet, revolutionizing traditional IT infrastructure models. Here are some of the benefits: 1. Scalability and flexibility: Cloud computing provides scalable resources on-demand, enabling women entrepreneurs to launch and grow their businesses without significant upfront investment. For example, cloud-based e-commerce platforms offer scalable solutions for starting and managing online stores. Women entrepreneurs can easily scale their operations to accommodate growth in sales volume or expand their product offerings without worrying about infrastructure limitations. 2. Cost-effectiveness: Cloud computing follows a pay-as-you- go pricing model, making it more cost-effective for women entrepreneurs compared to traditional IT infrastructure. Cloud- based collaborative tools and digital marketing platforms offer affordable solutions for building and managing remote 7 Digital Empowerment of Women Entrepreneurs teams, promoting products and services, and reaching target audiences online. Women entrepreneurs can allocate their financial resources more efficiently, focusing on areas critical to their business growth and success. 3. Enhanced collaboration and remote work capabilities: Cloud- based collaborative tools enable women entrepreneurs to work seamlessly with remote teams, partners, and clients. Whether it is project management software or video conferencing tools, cloud-based collaboration solutions facilitate communication, coordination, and teamwork, regardless of geographical location. This flexibility empowers women entrepreneurs to build diverse teams, leverage global talent, and expand their networks effectively. 4. Security and compliance: Reputable cloud service providers employ robust security measures and compliance standards to safeguard data against cyber threats and breaches. Cloud- based e-commerce platforms and financial management software offer secure solutions for processing transactions and managing sensitive financial information. Women entrepreneurs can trust cloud-based solutions to protect their data and ensure compliance with regulations, enhancing customer trust and loyalty. By integrating the benefits of cloud computing with specific applications for women entrepreneurs, such as e-commerce platforms, collaborative tools, business intelligence, digital marketing, and financial management software, women entrepreneurs can leverage technology to overcome barriers, access scalable solutions, and compete more effectively in the digital marketplace. Whether it’s launching an online store, collaborating with remote teams, marketing products and services, or managing finances, women entrepreneurs can have the option to leverage on cloud-based solutions, tools and resources they need to succeed in business. 8 Foundation Knowledge & Current Situation IOT technologies IoT (internet of things) technologies encompass a wide range of hardware, software, and networking components crucial for connecting physical objects, devices, and sensors to the internet, enabling data collection, communication, and processing for various applications. Key components include sensors and actuators for detecting and controlling physical parameters, embedded systems and microcontrollers for specialized computing functions, and communication protocols such as Wi-Fi, Bluetooth, Zigbee, MQTT, and LoRaWAN for data exchange between IoT devices and networks. These components form the backbone of IoT systems, facilitating real-world data collection and execution of actions based on that data. IOT technologies play a crucial role in connecting physical objects, devices, and sensors to the internet, facilitating data collection, communication, and processing for various applications. Here are some of the benefits: 1. Access to data-driven insights: IoT technology enables women entrepreneurs to collect and analyze real-time data from various sources, providing valuable insights into customer behavior, market trends, and operational performance. This data-driven approach allows women entrepreneurs to make informed decisions, identify new opportunities, and optimize business processes for improved efficiency and competitiveness. 2. Automation and efficiency: By leveraging IoT technology, women entrepreneurs can automate routine tasks and processes, reducing manual effort and freeing up time and resources for strategic initiatives. Automation leads to increased efficiency, lower operational costs, and improved productivity, enabling women entrepreneurs to achieve more with less resources. 3. Remote monitoring and management: IoT technology allows women entrepreneurs to remotely monitor and manage their 9 Digital Empowerment of Women Entrepreneurs businesses from anywhere, providing flexibility and convenience in managing operations. Whether it’s tracking inventory levels, monitoring equipment performance, or analyzing customer feedback, IoT technology enables women entrepreneurs to always stay connected and in control of their businesses. IoT technologies offer transformative solutions across various industries, presenting unique opportunities for women entrepreneurs to innovate and thrive in the digital landscape. In smart retail, women entrepreneurs can leverage IoT devices like beacons and smart shelves to personalize promotions and streamline inventory management, enhancing sales and customer satisfaction. Meanwhile, in healthcare solutions, wearable fitness trackers and remote patient monitoring systems empower women entrepreneurs to provide proactive health management and personalized treatment plans, leading to improved patient outcomes and reduced healthcare costs. Additionally, IoT-enabled smart home products provide women entrepreneurs with opportunities to meet consumer demands for convenience, energy efficiency, and security, while promoting sustainability. In smart agriculture, women entrepreneurs can utilize IoT solutions like soil moisture sensors and smart irrigation systems to optimize resource usage and environmental sustainability, ultimately increasing crop yields and profitability. Moreover, in manufacturing optimization, IoT applications such as predictive maintenance and smart production systems empower women entrepreneurs to enhance operational efficiency and quality control, driving competitiveness and profitability in their ventures. 10 Foundation Knowledge & Current Situation Furthermore, in transportation and logistics management, GPS tracking systems and smart logistics platforms enable women entrepreneurs to optimize fleet management and streamline operations, improving customer satisfaction and reducing transportation costs. In the hospitality industry, women entrepreneurs can leverage IoT devices like smart room controls and guest experience management systems to offer personalized experiences and optimize resource usage, thereby driving revenue and enhancing guest satisfaction. Finally, in environmental monitoring and sustainability efforts, IoT sensors provide women entrepreneurs with the tools to implement proactive environmental management strategies and contribute to environmental protection efforts through data-driven insights and actions. Through the integration of IoT Technologies with the appropriate Data Analytics and these diverse business applications, women entrepreneurs can harness the power of technology to innovate, differentiate their offerings and unlock new opportunities for growth, efficiency, and sustainability. Automation and robotics Automation and robotics refer to the use of machines, computer systems, and advanced technologies to perform tasks and processes with minimal human intervention. These technologies automate repetitive and labor- intensive tasks, increasing efficiency, accuracy, and productivity in various industries. Automation involves the use of software and hardware systems to execute predefined tasks, while robotics involves the use of physical machines or robots to perform tasks autonomously or under human supervision. Automation and robotics drive digital transformation by optimizing efficiency, accuracy, scalability, and innovation in business operations. 11 Digital Empowerment of Women Entrepreneurs Here are some of the benefits: 1. Increased efficiency: Automation and robotics streamline processes by automating repetitive and manual tasks, reducing the need for human intervention. This increased efficiency leads to faster turnaround times, improved productivity, and lower operational costs, driving overall business performance. 2. Enhanced accuracy and quality: Automation and robotics ensure consistent and precise execution of tasks, minimizing errors and defects in products or services. This improvement in accuracy and quality leads to higher customer satisfaction and loyalty, strengthening the competitive position of businesses in the digital landscape. 3. Scalability and flexibility: Automation and robotics enable businesses to scale their operations more easily to meet growing demand or adapt to changing market conditions. Automated processes can handle increased workload without significant manual intervention, allowing businesses to remain agile and responsive in dynamic environments. 4. Empowerment of human capital: Automation and robotics free up human resources from repetitive and low-value tasks, allowing employees to focus on higher-level activities that require creativity, critical thinking, and interpersonal skills. This empowerment of human capital fosters employee engagement, satisfaction, and professional development, contributing to overall business success. Automation and robotics technologies present unique opportunities for women entrepreneurs across diverse industries, enabling them to innovate, streamline operations, and drive business growth in the digital era. 12 Foundation Knowledge & Current Situation In e-commerce, automated picking and packing systems streamline order fulfillment processes, allowing women entrepreneurs to efficiently manage large volumes of orders and enhance customer satisfaction. Moreover, implementing chatbots and virtual assistants automates customer service interactions, providing 24/7 support and improving overall customer experiences in online businesses. In manufacturing, robotic arms and automated assembly lines increase production efficiency and reduce labor costs, empowering women entrepreneurs to scale their production operations and meet growing demand for their products. Additionally, automated inventory management systems with RFID technology enable women entrepreneurs to track inventory levels accurately and optimize stock replenishment processes, ensuring efficient supply chain management in retail and manufacturing sectors. Furthermore, in healthcare, robotic-assisted surgery systems and automated diagnostic tools improve patient outcomes and enhance the efficiency of healthcare services provided by women entrepreneurs, driving innovation and excellence in the healthcare industry. By integrating automation and robotics technologies into these specific business applications, women entrepreneurs can unlock new opportunities for efficiency, productivity, and competitiveness, driving digital transformation and achieving better outcomes in their ventures. Cybersecurity Cybersecurity refers to the practice of protecting computer systems, networks, and data from unauthorized access, cyberattacks, and data breaches. It involves implementing security measures, protocols, and technologies to safeguard digital assets and ensure confidentiality, integrity, and availability of information. 13 Digital Empowerment of Women Entrepreneurs Cybersecurity plays a vital role in women entrepreneurs’ digital transformation by safeguarding their digital assets, protecting sensitive information, and ensuring the trust and confidence of customers and stakeholders. As women entrepreneurs embrace digital technologies to innovate, grow, and compete in the modern business landscape, cybersecurity measures become essential to mitigate cyber threats, prevent data breaches, and maintain regulatory compliance. By implementing robust cybersecurity protocols, women entrepreneurs can enhance their business resilience, preserve their reputation, and foster long-term relationships with customers, partners, and investors, thereby enabling sustainable success in the digital era. Here are some of the benefits: 1. Protection of digital assets: Cybersecurity measures safeguard women entrepreneurs’ digital assets, including intellectual property, financial records, and customer data, from unauthorized access, theft, or misuse. 2. Enhanced trust and reputation: Effective cybersecurity builds trust and confidence among customers, partners, and stakeholders, enhancing the reputation of women entrepreneurs’ businesses and fostering long-term relationships. 3. Mitigation of financial losses: Cybersecurity helps women entrepreneurs mitigate financial losses associated with cyberattacks, data breaches, and fraud, reducing the risk of costly legal battles, regulatory fines, and reputational damage. 4. Compliance with regulations: Cybersecurity ensures that women entrepreneurs comply with relevant data protection and privacy regulations, minimizing the risk of non-compliance penalties and legal liabilities. Integration of cybersecurity with business processes and applications for women entrepreneurs involves implementing various security measures tailored to specific business needs. 14 Foundation Knowledge & Current Situation - In e-commerce, ensuring SSL/TLS encryption and secure payment gateways protects online transactions and customer data, fostering trust and reliability. - In healthcare, encryption and access controls safeguard electronic health records (EHRs) and sensitive patient information, ensuring compliance with regulations and maintaining patient privacy. - For financial services, deploying multi-factor authentication (MFA) and fraud detection algorithms secures financial transactions and customer accounts, bolstering confidence in financial transactions. - Supply chain security entails risk management practices and secure communication channels to mitigate cyber threats across the supply chain ecosystem. - Cloud security measures protect data stored in cloud-based applications for small businesses, ensuring confidentiality and integrity. - Mobile app security techniques shield mobile applications from unauthorized access and malware attacks, preserving user data privacy. - Secure remote work environments are ensured through VPNs and endpoint security solutions for remote workers, maintaining the security of devices and data. Additionally, cybersecurity education and training initiatives empower employees to recognize and mitigate cybersecurity risks, contributing to overall organizational security. By integrating compliance of cybersecurity regulations and cybersecurity practices into these business applications, women entrepreneurs can mitigate cyber risks, protect assets, and build trust in their digital operations. 15 Digital Empowerment of Women Entrepreneurs AI and machine learning AI (artificial intelligence) and machine learning are closely related concepts that involve the development of computer systems capable of performing tasks that typically require human intelligence. Artificial intelligence (AI) refers to the simulation of human intelligence in machines, enabling them to perform tasks such as learning, reasoning, problem- solving, perception, and decision-making. AI systems can analyze data, recognize patterns, and adapt their behaviours accordingly, making them versatile tools for various applications. While machine learning is a subset of AI that focuses on enabling machines to learn from data without being explicitly programmed. Machine learning algorithms analyze large datasets, identify patterns, and make predictions or decisions based on the observed data. Through continuous learning and refinement, machine learning models improve their performance over time. The role of AI and machine learning in digital transformation is significant and multifaceted, impacting various aspects of business operations and strategy. AI and machine learning are essential enablers empowering organizations to leverage data-driven insights, automate processes, personalize experiences, innovate, and stay competitive in today’s rapidly evolving business landscape. Here are some of the benefits: 1. Data-driven decision making: AI and machine learning enable women entrepreneurs to make informed decisions based on data-driven insights. By analyzing large volumes of data, these technologies identify patterns, trends, and correlations that may not be apparent through manual analysis, empowering women entrepreneurs to optimize strategies and drive business growth. 2. Personalization and customer experience: AI and machine learning enable personalized interactions with customers, tailoring products, services, and marketing messages to individual preferences and behavior. By understanding customer needs and preferences, women entrepreneurs can deliver targeted experiences that drive customer satisfaction, loyalty, and retention. 16 Foundation Knowledge & Current Situation 3. Predictive analytics and forecasting: AI and machine learning algorithms enable women entrepreneurs to conduct predictive analytics, leveraging historical data to anticipate market trends, demand fluctuations, and future outcomes. This foresight aids in proactive resource allocation, risk mitigation, and capitalization on emerging opportunities. 4. Innovation and differentiation: AI and machine learning foster innovation by analyzing market dynamics, consumer preferences, and competitor strategies thus empowering women entrepreneurs in innovation of new products, services, and business models. Women entrepreneurs can leverage on AI and machine learning to identify emerging trends, explore new markets, and create unique value propositions that differentiate their offerings and drive competitive advantage. 5. Enhanced security and risk management: Women entrepreneurs benefit from AI and machine learning’s role in cybersecurity, which involves real-time detection and mitigation of threats, fraud, and breaches. These technologies analyze network activity, identify anomalies, and respond swiftly, bolstering organizational resilience and safeguarding sensitive data. 6. Supply chain optimization: AI and machine learning aid women entrepreneurs in optimizing supply chain management by forecasting demand, optimizing inventory levels, and refining logistics and distribution processes. This optimization minimizes costs, mitigates disruptions, and enhances overall supply chain efficiency, thereby boosting business performance. AI and machine learning technologies offer women entrepreneurs transformative solutions across various industries, empowering them to innovate, reduce operations cost, and drive business growth in the digital age. In e-commerce, AI-powered recommendation systems personalize product offerings, enhancing customer experiences and driving sales. Moreover, implementing chatbots and virtual assistants 17 Digital Empowerment of Women Entrepreneurs powered by machine learning automates customer service interactions, providing round-the-clock support and improving overall customer satisfaction. In retail, machine learning algorithms analyze sales data to predict customer demand, optimize inventory management, and tailor pricing strategies, thereby maximizing profitability and competitiveness. Furthermore, in healthcare diagnostics, AI-driven diagnostic tools assist healthcare professionals in accurate diagnosis and treatment planning, improving patient outcomes and healthcare service quality. Additionally, in financial services, AI-based fraud detection systems identify and prevent fraudulent activities, ensuring the security and integrity of financial transactions for customers. By integrating AI and machine learning into these diverse business applications, women entrepreneurs can be empowered to harness the power of data-driven insights, offer personalize customer experiences, drive innovation, scale operations more efficiently and stay competitive in today’s rapidly evolving business landscape. In conclusion, digital transformation is not just a business strategy; it is a path to empowerment, and a means for women entrepreneurs to realize their full potential in the digital age. ** Look up “Retail 2020 | 5 Technologies that will change the way you shop” on YouTube or copy this link to watch the video: https://youtu.be/ iRvaWHk3A8k?si=IgPw5POC9qz_YY-X Business innovation and digital empowerment Competition is common in the business landscape. If women entrepreneurs want their business to survive and they want to be unique, innovation can be relied on. Women entrepreneurs must constantly look for new ways to innovate because one cannot solve many problems with old solutions. Innovation and creativity are often used synonymously. While similar, they are not the same. Using creativity in business is important because 18 Foundation Knowledge & Current Situation it fosters new ideas. Novelty or uniqueness is a key component of innovation. Michael Boyles (2022) of Harvard Business Review suggests that for an idea to be innovative, it must also be useful. Creative ideas do not always lead to innovations because they do not necessarily produce viable solutions to problems. So, what is innovation? It is a product, service, business model, or strategy that is both novel and useful. It need not be major breakthroughs in technology or new business models. It can be a simple upgrade to a business company’s customer service, or features added to an existing product. Importance of innovation Unforeseen challenges are inevitable in business. Innovation can help you stay ahead of the curve and grow your company in the process. Here are three reasons innovation is crucial for your business: it allows adaptability, fosters growth, and separates business from their competition. It allows adaptability: The recent COVID-19 pandemic disrupted business on a monumental scale. Routine operations were rendered obsolete over the course of a few months. Many businesses still sustain negative results from this world shift because they’ve stuck to the status quo. Innovation is often necessary for companies to adapt and overcome the challenges of change. It fosters growth: Stagnation can be extremely detrimental to your business. Achieving organizational and economic growth through innovation is key to staying afloat in today’s highly competitive world. It separates businesses from their competition: Most industries are populated with multiple competitors offering similar products or services. Innovation can distinguish your business from others. 19 Digital Empowerment of Women Entrepreneurs Here are a few ways businesses can innovate: 1. Product innovation: This involves creating or improving products or services. For instance, developing a new smartphone model with advanced features or enhancing an existing software application. 2. Process innovation: Focusing on improving internal processes, such as supply chain management, production methods, or logistics. Streamlining workflows, reducing costs, and increasing efficiency fall under this category. 3. Marketing innovation: Innovating in how products are marketed, advertised, or positioned. For example, launching a creative social media campaign or introducing a new pricing strategy. 4. Organizational innovation: This pertains to changes in the organization’s structure, culture, or management practices. Implementing flexible work arrangements, fostering a collaborative environment, or adopting agile methodologies are examples. 5. Business model innovation: Rethinking the fundamental way a business operates. Companies like Uber and Airbnb disrupted traditional models by introducing platform-based sharing economy concepts. 6. Network innovation: Collaborating with external partners, suppliers, or customers to create value. Building strategic alliances, joint ventures, or ecosystems falls into this category. 7. Technological innovation: Leveraging emerging technologies to create new products or improve existing ones. Examples include artificial intelligence, blockchain, and 3D printing Successful innovation often involves a combination of these types, tailored to an organization’s unique context and goals. 20 Foundation Knowledge & Current Situation Types of innovation At its core, innovation is undertaken to solve business problems. Innovation in business can be grouped into two categories: sustaining and disruptive (Cote, 2022). Sustaining innovation enhances an organization’s processes and technologies to improve its product line for an existing customer base. It occurs when a company focuses on creating better performing products or services. The goal is to enhance quality, features, and performance for its existing customers, ultimately leading to higher profit margins. It is typically pursued by incumbent businesses that want to stay atop their market. For example, a successful smartphone manufacturer continually improving its flagship phone by adding better cameras, faster processors, and longer battery life. These incremental enhancements cater to loyal customers who are willing to pay for improved features. Disruptive innovation occurs when smaller companies challenge larger businesses. It involves an introduction of something novel – whether it is a product, service, or a business model – to an overlooked market segment. It can be classified depending on the markets those businesses compete in. Low-end disruption refers to companies entering and claiming a segment at the bottom of an existing market, while new market disruption denotes companies creating an additional market segment to serve a customer base the existing market does not reach. For example, consider the rise of budget airlines. While traditional airlines focused on providing luxurious services to high-paying customers, budget airlines disrupted the industry by offering no-frills, affordable flights to a broader audience. For travelers 21 Digital Empowerment of Women Entrepreneurs seeking cost effective options, these offerings are considered “good enough”. (Feder, 2023) In summary, both sustaining and disruptive innovations play critical roles in shaping industries. Sustaining innovations maintain the status quo, while disruptive innovations challenge it, often leading to transformative changes and new market dynamics. Innovation and design thinking Several tools encourage innovation in the workplace. For example, when a problem’s cause is difficult to pinpoint, you can turn to approaches like creative problem-solving. One of the best approaches to innovation is adopting a design thinking mentality. (Boyles, 2022) Design thinking is a solutions-based, human-centric mindset. It is a practical way to strategize and design using insights from observations and research. (Han, 2022) Figure 1. Four stages of design thinking. From Michael Boyles, Innovation in Business: What it is and Why it’s so important (March 2022) Four phases of innovation Innovation’s requirements for novelty and usefulness call for navigating 22 Foundation Knowledge & Current Situation between concrete and abstract thinking. Introducing structure to innovation can guide this process. These are: clarify, ideate, develop, and implement. Each step is described as follows: Clarify: The first stage of the process is clarifying a problem. This involves conducting research to understand your target audience. The goal is to empathize with and identify their key pain points and frame the problem in a way that allows you to solve it. Ideate: The ideation stage involves generating ideas to solve the problem identified during research. Ideation challenges assumptions and overcomes biases to produce innovative ideas. Develop: The development stage involves exploring solutions generated during ideation. It emphasizes rapid prototyping to answer questions about a solution’s practicality and effectiveness. Implement: The final stage of the process is implementation. This stage involves communicating your developed idea to stakeholders to encourage its adoption. Aside from the above, another step must be included: Evaluation. The entrepreneur must be able to assess what was implemented to gain lessons from the process. This is because innovation must be human- centered. Human-centered design Innovation requires considering user needs. Design thinking promotes empathy by fostering human-centered design, which addresses explicit pain points and latent needs identified during innovation’s clarification stage. There are three characteristics of human-centered design: desirability, feasibility, and viability. 23 Digital Empowerment of Women Entrepreneurs Desirability: For a business product or service to succeed, people must want it. Prosperous innovations are attractive to consumers, useful and meet their needs. Feasibility: Innovative ideas require resources to pursue them. You must consider whether ideas are possible given technological, economic, or regulatory barriers. Viability: Even if a design is desirable and feasible, it also needs to be sustainable. You must consistently produce or deliver designs over extended periods for them to be viable. Consider these characteristics when problem-solving, as each is necessary for successful innovation. Let us give a brief example of a business that illustrates the design thinking approach in innovation. The case is about the Jollibee Food Corporation, one of the biggest fast-food chains in the Philippines. Brief business profile of Jollibee Food Corporation In 1975, Tony Tan Caktiong, along with his wife Grace and their family started an ice cream business in Manila, Philippines. Initially, they operated as a franchise of Magnolia Dairy Ice Cream with two outlets in cities in Metro Manila. However, ice cream alone was not sustainable. So, the Tan Caktiong family thought, how can the company expand its business that will include a menu of hot savories? By 1978, Tan Caktiong decided to end the franchise and converted his ice cream parlor restaurant into the first iteration of Jollibee. The name Jollibee was chosen because it connoted hard work like a busy bee, and evoked the idea of a sweet life, associated with honey. The family embarked on a marketing strategy that included a logo that 24 Foundation Knowledge & Current Situation played a crucial role in shaping Jollibee’s brand identity. The logo was a bee design that became the iconic mascot known today. The company relentlessly focused on quality food, customer satisfaction, and innovation propelled the business to success. Today, Jollibee’s menu expanded to include Filipino favorites like pineapple burgers, and sweet-style spaghetti. Its success led to international expansion and the brand now has a strong presence in countries like the United States, Canada, the United Kingdom, Singapore, Hongkong, and more. The signature offerings include the Chickenjoy, Yumburger, and Jolly Spaghetti that have won customers’ hearts worldwide. Jollibee stands as a Philippine icon, delighting generations with its flavorful means and warm service. (Garcia et al, 2022) The design thinking process of JFC The design thinking process of Jollibee Food Corporation (JFC) has played a significant role in its success. Let us delve into the key aspects: 1. Clarify and empathize: Tony Tan Caktiong and his wife Grace, asked the question to clarify the company’s problem: How can the company expand their business that will include a menu of hot savories? Equally thought of was its customers. Jollibee empathizes and understands its customers deeply. It identifies their needs, preferences, and pain points. By empathizing with its diverse customer base, Jollibee tailors its offerings to meet their expectations. 2. Define: After gathering insights, Jollibee defines the problem and turned it into an opportunity. It clarifies its goals and objectives. For instance, when expanding internationally, Jollibee defines its target markets and growth strategies. Jollibee has successfully expanded internationally, competing with giants like McDonald’s. While maintaining its Filipino roots, Jollibee adapts its menu to suit local preferences in each country. 25 Digital Empowerment of Women Entrepreneurs 3. Ideate: Jollibee encourages creativity and brainstorming. It generates innovative ideas for product development, marketing, and customer experience. This phase involves cross-functional collaboration and thinking outside the box. 4. Prototype: Jollibee creates prototypes or mock-ups. It tests new menu items, store layouts, or digital features. Prototyping allows Jollibee to iterate quickly and refine its concepts based on feedback. The friendly bee mascot is instantly recognizable and has become a cultural icon. Jollibee’s branding emphasizes warmth, family, and community, resonating with Filipinos and creating a strong emotion connection. 5. Test: Jollibee conducts pilot tests. It gathers data from real-world scenarios. For instance, when introducing a new burger, Jollibee tests it in select locations and collects customer feedback. 6. Implement: Based on insights from testing, Jollibee implements changes. It launches branding or, updates its branding, or enhances its service. Implementation involves coordination across departments. 7. Evaluate, learn, and iterate: Jollibee continuously learns from its experiences. It adapts based on market dynamics, customer reactions, and emerging trends. The company iterates its strategies to stay relevant. Filipinos have a deep emotional connection to Jollibee. The brand is associated with childhood memories, family gatherings, and celebrations. Jollibee’s loyal customer base remains devoted. Jollibee’s menu is distinctly Filipino, celebrating local flavors and comfort food. Unlike many global fast-food chains that offer 26 Foundation Knowledge & Current Situation standardized menus worldwide, Jollibee adapts its offerings to cater to local tastes. (Garcia Jr., et. al, 2022) In summary, Jollibee’s design thinking process combines empathy, creativity, and agility to drive its business forward. Another example of a business is a case of a woman micro entrepreneur who effectively used the design thinking approach to drive innovation in her micro-scale business: Maryan’s Handcrafted Jewelry. Background of Maryan’s Handcrafted Jewelry Maryan, a passionate jewelry enthusiast, started her micro-scale business from her home. She wanted to create unique, personalized jewelry pieces that resonated with her customers. Design thinking at work: Empathize: Maryan conducted interviews with potential customers to understand their preferences, occasions, and desires related to jewelry. She discovered that people wanted meaningful, customizable pieces that reflected their personalities. Define: Maryan defined her goal: to create handcrafted jewelry that told stories and connected with emotions. She focused on personalization, quality, and affordability. Ideate: Maryan brainstormed ideas for designs, materials, and packaging. She explored various themes, such as birthstones, zodiac signs, and memorable dates. Prototype: Maryan crafted sample pieces based on her ideas. She experimented with different metals, gemstones, and styles. Test: Maryan showcased her prototypes to friends, family, and 27 Digital Empowerment of Women Entrepreneurs potential customers. Their feedback helped her refine designs and pricing. Implement: Maryan launched her online store and social media profiles. She offered customization options for each piece. Learn and iterate: Maryan continuously learned from customer interactions. She adapted her designs based on trends and feedback. As a result, Maryan’s jewelry gained a loyal following, customers appreciated the personal touch and storytelling aspect of her pieces. Maryan’s micro-business grew through word-of-mouth and repeat orders. Maryan’s journey exemplifies how design thinking can transform a micro- scale business into a meaningful venture. Innovation and business model Business models refer to high-level plans of your business to make money. It identifies what product or service you will sell, your target market, and the anticipated business expenses. Whether your business is old or new, it is important to establish or update your business model in consideration of trends and challenges in the business environment. Three common catalysts for business innovation include market contraction or expansion, introduction of a new product or service, and or need to attract new customers. The innovations in the business model need to consider the areas of modifications in your value proposition, customer segment, revenue streams and cost structure, key partners, key resources, key activities, and communication channels with clients. Some of the types and examples of business models from traditional to the current ones. Retailer business model (e.g., Costco, Walmart) – buy or source finished goods from manufacturers and sell these goods to 28 Foundation Knowledge & Current Situation consumers. Example supermarkets Costco, Walmart Manufacturer business model (e.g., Ford Motor Company) - responsible for sourcing raw materials and producing finished products by leveraging internal labor, machinery, and equipment. May produce custom goods, replicated, mass produced products and sell these to distributors, retailers or directly to customers. Franchising business model (e.g. McDonalds) – leverages existing business plans to expand and reproduce a company at a different location. Often food, hardware, or fitness companies, franchisers work with incoming franchisees to finance the business, promote the location, and oversee operations. In return, the franchisor receives a percentage of earnings from the franchisees. Fee-For-Service (e.g., legal or consulting companies) – centered around providing services, charging by the hour or a fixed cost for a specific agreement. These companies are often specialized and require specific training. Subscription business model (e.g., cable companies, Netflix) – offering a product that requires ongoing payment in return for fixed duration of benefit; offered by digital companies for access to software, or physical goods such as agriculture produce subscription box deliveries. Freemium business model (e.g., anti-virus software products, LinkedIn) – attract customers by introducing them to basic, limited-scope products; the company attempts to convert them to more premium advance products that require payments. Bundling business model (e.g., AT&T, telecoms companies) – selling multiple goods to a single client, incentivized by offering discounts for buying multiple products. Pay as you go business model (e.g., Utilities) – users pay how much they consume. Marketplace (e.g., e-Bay) - Marketplaces are somewhat straight- forward: in exchange for hosting a platform for business to be 29 Digital Empowerment of Women Entrepreneurs conducted, the marketplace receives compensation. Although transactions could occur without a marketplace, this business models attempts to make transacting easier, safer, and faster. E-Commerce business model refers to how business operates to sell goods and services online. The main types of e-Commerce business models are Business to Government (B2G), Business to Business (B2B, Business to Consumers (B2C), Consumer to Consumers (C2C), Consumer to Business (C2B), and Business to Business to Consumer (B2B2C). How do you know when your business model needs to change? It is always helpful to find out what is happening in your industry. As a guide, frequently ask the following questions: has there been an influx of competition? Are there new tech trends that everyone is talking about? Are there new regulations that will affect your business. Taking stock and updating yourself with this information would give you a sense of what needs to be done. Lesson 1 Summary Digital transformation can make the business of women entrepreneurs more effective and efficient. It can enhance customer engagement, facilitate informed decision making, market reach and global presence, business efficiency and cost reduction. Digital transformation fosters innovation and agility in business operations. Women entrepreneurs can quickly adapt to market changes, experiment with new ideas, and implement changes based on customer preferences and feedback. Innovation is important to survive business competition. Innovation is a product, service, business model, or strategy that is both novel and useful. Innovations need not be major breakthroughs in technology or 30 Foundation Knowledge & Current Situation new business models; they can be as simple as upgrades to a company’s customer service or features added to an existing product. Something to think about: Is digital transformation or innovation something my business needs? What would be the advantages of digital transformation and innovation in my business? ***Notes to Trainers 1. Find a case of a local business that has used digital technology and/or innovation in their business. This can serve as an example to explain the concepts presented in Lesson 1. 2. Concepts of digital transformation and business innovation may be best understood using local examples. 3. Likewise, find an appropriate quiz in your country to test your student’s understanding of the knowledge. Submit quiz data to APCICT. Lesson 2: Benefits of the WIFI DX Specialized Courses Lesson Introduction The Women ICT Frontier Initiatives (WIFI) through Digital Transformation (DX) is aimed at harnessing the power of technology to innovate and improve the business enterprises of women entrepreneurs. WIFI DX is a brand of APCICT, and its goals are to strengthen capacities of women entrepreneurs to utilize digital tools in support of their businesses, as well as capacities government leaders and policymakers in providing an enabling environment for ICT empowered women entrepreneurs through 31 Digital Empowerment of Women Entrepreneurs gender-responsive ICT-enabled policies and programmes. (APCICT, 2023) The WIFI Program is updated to address the challenges and harness opportunities posed by global disruptions in the digital economy. Building the capacity of women entrepreneurs and policymakers is the program’s anchor to create the breakthrough needed after the downturn caused by the pandemic, and to put in perspective the positive use of digital technology to gain the desired improvement and growth of their businesses contributing to a more prosperous economic environment. Shown below is the WIFI DX framework that illustrates the goals, objectives, and the means to reach this goal. Figure 2. WIFI DX Framework The updated WIFI DX program offers specialized course modules. The courses include: E-Commerce and Digital Marketing, Financial Management Using Digital Technology, Data Analytics for Women Entrepreneurs, Trust and Cyber Security, and Business Continuity Planning for Women Entrepreneurs. 32 Foundation Knowledge & Current Situation Figure 3. WIFI DX Specialized Courses The following is a description of each course and the benefits that will be derived from the courses. (1) E-Commerce and Digital Marketing Course For women entrepreneurs to thrive in the digital economy, they need to be equipped with the practical skills needed to establish a strong online presence and effectively market their products or services in the digital space. By mastering e-commerce platforms and digital marketing strategies, women entrepreneurs can tap into global markets, reach a wider audience, and boost sales, thereby expanding their businesses beyond geographical boundaries. The modules and lessons covered for Digital Marketing are: Module 1: Digital marketing basics Lesson 1: Digital marketing: Promoting products and services online. Lesson 2: Why digital marketing: Increase awareness, drive sales, create desire. 33 Digital Empowerment of Women Entrepreneurs Module 2: Social Media Marketing (SMM) Lesson 1: SMM: Be present, post contents and interact with audiences at where they spent their time. Lesson 2: Channels: Choose the channel(s) based on where your audience use and platform advantages Lesson 3: Follow the unicorn: Replicate your competitors best performing contents Module 3: Search Engine Marketing (SEM) Lesson 1: SEM: Be visible when audiences search for your product or services online Lesson 2: Per pay click: Advertiser only pay when click on ad happens. Module 4: Search Engine Optimisation (SEO) Lesson 1: SEO: Getting your website to rank high on search engine results page Lesson 2: Organic (free) traffic: Clicks on organic listings are free. Sustainable for business Lesson 3: Examples of OnPage SEO: Include relevant products keywords and quality contents on your website. Module 5: Emerging trends Lesson 1: TikTok video script generator: For TikTok video, FB reels & YouTube shorts Lesson 2: ChatGPT: Use it for social media post captions, ads copies creation. Use AI tools to reduce content creation time. The modules and lessons covered for E-Commerce are: Module 1: E-commerce basics Lesson 1: E-commerce: Any form of commerce transactions that happen online. Lesson 2: Why e-commerce: Reach new markets, flexible and cost 34 Foundation Knowledge & Current Situation effective to scale business. Lesson 3: E-commerce business models: Drop ship, Resell, White label & Do-It-Yourself. Module 2: Product research Lesson 1: Research: Research before expanding product category or market. Lesson 2: Google trends: Understand seasonality and demands. Module 3: E-commerce operations Lesson 1:Content Management System (CMS): Online app to manage your online store. Lesson 2: Operation costs: Annual (CMS, domain) and variable (Marketing, shipping, storage). Module 4: Getting your products online Lesson 1: 3 types of e-commerce store: Marketplace, Self-managed online store, Social commerce shop. Lesson 2: Ideal store type: 3Cs. Depends on your Capabilities, where are your Customers on and Competition intensity. Module 5: E-commerce strategies to grow Lesson 1: Leverage social: Interact with social audiences, encourage user-generated contents. Lesson 2: Leverage paid media: Social ads and influencer collaborations. Lesson 3: Leverage partnerships: Collaborate with other brands to cross- promote. 35 Digital Empowerment of Women Entrepreneurs (2) Financial Management Using Digital Technology Course Many women entrepreneurs lacked basic information regarding what steps to follow to sustain their businesses through the pandemic. It is essential to educate women entrepreneurs in digital finance so they can manage their businesses more efficiently and acquire credit for their businesses easily. Digitizing financial transactions and other money- related business processes must be learned by women entrepreneurs to ensure the survival of their business. The course offers the following modules: Module 1: Fundamental business finance management Lesson 1: Tips and digital tools for effective business finance management. Lesson 2: Digitalizing your bookkeeping. Lesson 3: Personal finances vs. business finances. Module 2: Profit and loss statement analysis Lesson 1: Fixed and variable costs. Lesson 2: Margin and profit calculation. Lesson 3: Data analysis. Module 3: Accessing to finance Lesson 1: Various sources of funding. Lesson 2: Digital tools for gaining confidence. Lesson 3: Access to financing. Lesson 4: 12-month cash flow forecasting. As benefits of the course, the participants will: Learn how to improve financial management, decision-making, and efficiency through automation and reduced human error. Have the ability to generate a business profit and loss report and analyze the report to develop a strategy for improving your business’s performance. 36 Foundation Knowledge & Current Situation Learn how to obtain financing to strengthen and grow their companies. Acquire confidence in accessing the sort of capital that is compatible with their business circumstances. (3) Trust and Cyber Security Course To overcome the fear of online safety, women entrepreneurs must have fundamental skills and knowledge concerning cyber security. The course must be dedicated to enhancing their basic skills and increasing awareness regarding digital security and data privacy. By providing insights into safeguarding strategies and practices, this course must strive to elevate awareness and knowledge, ultimately leading to the activation of self-protection behaviours in the digital realm. Module 1: Protecting personal data Lesson 1: Staying Safe Online. Lesson 2: Protecting your password. Lesson 3: Safe habits. Lesson 4: Don’t be a spammer. Module 2: Protecting business data Lesson 1: Where do data exist online? Lesson 2: How to transact online. Lesson 3: How do we protect other people’s data. Module 3: Think like a hacker Lesson 1: Identifying a scam. Lesson 2: Don’t get hijacked. Lesson 3: Don’t be spammer. Lesson 4: Protect your house. 37 Digital Empowerment of Women Entrepreneurs The participants will learn to: Protect yourself by protecting your personal data through better password management and understanding of spamming. How to protect other people’s data by Identifying best practices in collecting customer data, Standard operating processes for employees, Deliver customer satisfaction by protecting their data. Strengthen your website and social media accounts and always think it is a scam. (4) Business Continuity Planning Course Many businesses were caught unaware of how to sustain their business during the COVID-19 pandemic. For business to recover soon after a crisis, it needs proactive planning that contains strategies for handling uncertainties or disruptions including that of technology. The course on Business continuity planning with the use of technology should provide knowledge and skills for women entrepreneurs to plan for, manage, and overcome crises situations in their businesses brought about by natural and man-made hazards. The modules and lessons covered in the course are: Module 1: Overview of business continuity planning Lesson 1: Business continuity key concepts Lesson 2: Business continuity planning process Lesson 3: An example of a Business Continuity Plan Module 2: Threats and impacts: The need for business risk assessments Lesson 1: Risk factors and impact assessments Lesson 2: Mitigating risks factors Lesson 3: Case examples of business continuity in practice 38 Foundation Knowledge & Current Situation Module 3: Continuity strategies and planning Lesson 1: Use of digital technology in continuity strategies Lesson 2: Action planning and discussion The participants can: Gain familiarity with the goal, objectives, and components of Business Continuity Plan. Understand the risks, threats of natural and manmade hazards, and possible impacts. Have awareness in risk management strategies in key business operations. Outline continuity strategies using relevant planning tools. (5) Data Analytics Course Data analytics empowers women entrepreneurs with the ability to derive insights from data, driving informed decision-making. By understanding customer behaviours and market trends, women entrepreneurs can tailor strategies, optimize processes, and enhance customer experiences, resulting in improved business outcomes. This course equips Women Entrepreneurs with essential knowledge in harnessing data analytics for customer development and business expansion. It also encompass a foundational understanding of various analytics facets including descriptive, diagnostic, predictive, and prescriptive analytics. The modules and lessons covered in the course are: Module 1: Data analytics fundamentals Lesson 1: Profiling game Lesson 2: Story of Numbers Module 2: Exploring Analytics Facets Lesson 1: Types of analytics Lesson 2: Data insights from analytics technologies 39 Digital Empowerment of Women Entrepreneurs Lesson 3: Explore analytics in action Module 3: Practical Application for Customer Development Lesson 1: Reflection of Data Analytics to improve Customer Development Lesson 2: Discuss Ethical Data Usage and Data Protection Lesson 3: Developing your Data Analytics action plan. The benefits of this course is that: Participants can build a foundational understanding of data analytics. This course delves deeper into the various facets of data analytics, providing participants with the practical knowledge needed to leverage data for customer development. Participants can apply their knowledge to their business, focusing on customer development and/or business expansion, delving into ethical considerations when working with customer data and develop action plans as next steps. Lesson 2 Summary The courses that are described here are part of the WIFI DX framework that aim to empower women entrepreneurs through a capacity building program that leverages on the use of digital technology and innovation for their businesses to thrive and be transformed towards more improved growth. Capacitated women entrepreneurs can be supported by an enabling environment where government laws and policies allow MSMEs to develop their potentials at the fullest in the digital era. The policy makers track can complete the capacity building efforts of WIFI DX where policymakers understand the ramifications of digital transformation and its impact on business enterprises and on the role of women in the digital economy. 40 Foundation Knowledge & Current Situation Something to think about: Which courses are useful for my business and why? What benefits will I want to draw from the specialized courses? ***Notes to Trainers Find an appropriate quiz in your country to test your student’s understanding of the knowledge. Submit quiz data to APCICT. Lesson 3: Discussion on issues and challenges of women entrepreneurs Lesson Introduction Knowledge about their current situation plays a crucial role in empowering women entrepreneurs towards digital adoption. On one hand, it can lower barriers to entry by recognizing their existing challenges and resources that allows them to identify opportunities in the digital space. It can help realize their adaptability and resilience, thereby opening new avenues that can offer flexibility and efficiency in managing their businesses remotely and in exploring wider market reach. On the other hand, recognizing their specific needs and constraints, such as technical skills gaps and market knowledge, allows targeted support. Furthermore, understanding their context can serve as an opportunity to gauge their digital readiness. From the results of various research initiatives, women entrepreneurs tend to participate in sectors that are less capital intensive and less profitable. They are constrained by the lack of digital resources, lack of financial resources, and fear of online safety. Furthermore, socio-cultural norms and beliefs discourage women to participate in the technology sector. Thus, women entrepreneurs in the MSMEs are more vulnerable to the effects of disruptions. (Kulaksiz & Rafi, 2021) 41 Digital Empowerment of Women Entrepreneurs To illustrate the above, the following figure lists the challenges of women entrepreneurs based on a study of Khoo et al. (2023) “Opportunities and challenges of digital competencies for women tourism entrepreneurs in Latin America: A gendered perspective.” The issues and challenges of women were categorized as structural, socio-cultural, and individual. Figure 4. Structural, Socio-cultural, and Individual Challenges of Women Entrepreneurs Challenges and opportunities of COVID-19 pandemic to women entrepreneurs Historically, women entrepreneurs have faced unique challenges, including limited access to resources, networks, and markets. The COVID-19 pandemic exacerbated these challenges as traditional avenues for business, such as physical stores and face-to-face interactions, were severely disrupted. This unprecedented situation prompted women entrepreneurs to swiftly pivot and explore digital avenues to sustain their businesses. The forced closure of physical stores and lockdown measures highlighted the urgency of having an online presence. E-commerce platforms, social media, and digital marketing emerged as vital tools for reaching customers and maintaining revenue streams. 42 Foundation Knowledge & Current Situation Amidst the disruptions caused by the pandemic, the reliance on digital tools for business survival became evident. Women entrepreneurs found themselves in a landscape where data analytics provided insights to pivot strategies swiftly. Understanding consumer behaviours and market trends through data analysis became essential for adapting offerings and ensuring business relevance. Remote work and virtual interactions also became integral to business operations. Women entrepreneurs had to adapt to managing teams remotely, communicating with clients virtually, and utilizing digital tools for collaboration. This shift emphasized the importance of digital literacy and skills, prompting women entrepreneurs to upskill and reskill to remain competitive in an increasingly digital landscape. Moreover, the pandemic underscored the potential of digital platforms for expanding market reach. Women entrepreneurs who leveraged online platforms found themselves able to tap into global markets, transcending geographical boundaries and accessing a broader customer base. This shift has the potential to empower women entrepreneurs with newfound opportunities for growth and international expansion. The crisis also prompted a wave of innovation among women entrepreneurs. The need to address new challenges led to the creation of innovative solutions, such as contactless delivery services, online consulting, and virtual events. This culture of innovation demonstrated that embracing digital technologies can foster adaptability and creativity in the face of adversity. As we emerge from the pandemic, the lessons learned remain invaluable. Women entrepreneurs who had already embraced digital transformation found themselves better equipped to weather the storm, while those who were less digitally adept faced a steeper learning curve. The experience has highlighted that digital transformation is not merely a trend but a necessity for women entrepreneurs. It has emphasized the importance of equipping women with digital skills, access to technology, and support networks that facilitate their digital journeys. In essence, the COVID-19 pandemic has acted as a wake-up call for women entrepreneurs to accelerate their digital transformation efforts. It has showcased the potential of digital tools for business continuity, growth, and resilience. As women entrepreneurs embrace digital technologies, they position themselves to overcome challenges, seize opportunities, and contribute significantly to the evolving digital economy. 43 Digital Empowerment of Women Entrepreneurs For MSME women entrepreneurs to cope with the changing business environment influenced by digital technology and to recover from the impact of COVID-19 crises, they need to brave and gain new orientation, knowledge, and skills that will create new pathways in rebuilding, transforming, and innovating their businesses. Extending support to their recovery process must be an enabling environment that can be extended by government and other sectors to provide opportunities for women. Challenges of digital transformation Digital transformation presents several challenges that women entrepreneurs must navigate to successfully integrate recent technologies and processes. Olmstead (2023) lists some key challenges of adopting digital transformation: 1. Lack of digital transformation strategy. There is a need for a clear digital transformation strategy. Women entrepreneurs and their business organizations may struggle to align their initiatives with their business goals. 2. Complex software and technology. The introduction and integration of complex software and technology can be intricate and challenging. It requires specialized skills and knowledge. 3. Adoption of new tools and processes. When new tools and processes are introduced, such can pose some difficulties, especially if the entrepreneur is accustomed to former tools and processes or legacy systems. 4. Continuous evolution of customer needs. Customers’ needs and preferences change over time and with the influx of social and technological changes. Digital transformation must keep pace with the ever-changing needs and expectations of customers. 5. Lack of proper IT skills. A shortage of IT professionals with the necessary skills can hinder the progress of digital transformation efforts. 44 Foundation Knowledge & Current Situation 6. Security concerns. As organizations become more digital, women entrepreneurs will face increased cybersecurity risks that must be addressed. 7. Budget constraints. Financial limitations can restrict the ability to invest in new technologies and resources needed for digital transformation. 8. Cultural mindset. A culture resistant to change can stifle innovation and slow down the transformation process. 9. Siloed organizational structure. A lack of collaboration among staff or departments of a business organization can lead to disjointed efforts and inefficiencies. 10. Measuring ROI (Return on Investment). Determining the return on investment for digital transformation initiatives can be challenging, making it hard to justify the expenditure. These challenges highlight the importance of strategic planning, skilled personnel and a culture that embraces change to overcome the hurdles of digital transformation. ACTIVITY FOR PARTICIPANTS In order to stay current with the challenges of women entrepreneurs, this segment will focus on understanding the real challenges of women entrepreneurs and opportunities of digital transformation for women entrepreneurs. Participants will be asked to reflect and share about their experiences on challenges and opportunities in their business guided by trainers/ facilitators. The guided activity will use a template that consists of questions to facilitate discussion and summary of the activity. 45 Digital Empowerment of Women Entrepreneurs Instructions. 1. Depending on time availability and class size, activity can be conducted in groups or individually: Variable Cost Fixed Cost 5 to 10 groups depending on the Everyone will be provided with a size of the class (each group will pad of sticky notes. be assigned distinct ID e.g. color) Write answers to 3 questions posed Each group member to have a by the facilitator. role: e.g. leader, secretary, pre- senter, resource person … Tuck the sticky notes with answers on the respective categories la- Each group to discuss and use the belled on the Manila/craft paper. metacards or large sticky notes to 1. Funding or finance write their answers to 3 questions. 2. Resources 3. Technology Pin the metacards or tuck the 4. Skills sticky notes with answers on the 5. Policy following categories labelled on 6. Family issues the Manila/craft paper: 7. Others (please explain) 1. Funding or finance 2. Resources Selected individuals are given 5 3. Technology minutes to present their answers. 4. Skills 5. Policy Trainers are to clarify and explain 6. Family issues how Digital Transformation/Inno- 7. Others (please explain) vation can help participants re- duce their challenges. Each group are given 5 minutes to present their answers. Trainers are to advice what oppor- tunities can Digital Transformation/ Trainers are to clarify and explain Innovation offer based on the cas- how Digital Transformation/Inno- es brought up by participants. vation can help groups/partici- pant reduce their challenges. Trainers are to advice what oppor- tunities can Digital Transformation/ Innovation offer based on the cas- es brought up by participants. 46 Foundation Knowledge & Current Situation 2. Guiding Questions a. What are your current issues and challenges as a woman entrepreneur? Write the three most challenging issues. b. What opportunities can you derive/draw from the issues and challenges with digital transformation and/or innovation? c. Do your country’s policies to support you in your journey as woman entrepreneur? If yes, why? If not, why? Note: Implementing Organization to ensure that all answers given by participants/groups in this activity are keyed into Excel spreadsheet to be sent/emailed to APCICT/Consultants (Irene and Maria). Businesses can overcome the challenges of digital transformation by adopting a strategic approach that addresses the key issues they face. Rieva Lesonsky of Forbes (2023) and Brian Eastwood of MIT Management (2023) list some ways businesses can tackle these challenges: 1. Develop a clear vision. Establish a shared vision for digital transformation that aligns with the business’ goals and objectives. 2. Embrace change management. Implement comprehensive change management strategies to support and guide employees through the transition. 3. Invest in training. Provide training and development opportunities to equip oneself and your employees with the necessary digital skills. 4. Foster a digital culture. Encourage a culture that encourages innovation, experimentation, and willingness to adapt to new technologies. 47 Digital Empowerment of Women Entrepreneurs 5. Enhance collaboration. Promote cross-functional collaboration to break down silos and encourage a more integrated approach to digital transformation. 6. Select the right technology. Select technologies that are scalable, flexible, and align with the business’ current and future needs. 7. Strengthen cybersecurity. Prioritize cybersecurity to protect against threats and build trust with customers. 8. Allocate adequate resources. Ensure sufficient budget and resources dedicated to digital transformation initiatives. 9. Assess progress and measure ROI. Establish metrics to measure the progress and impact of digital transformation in your business. 10. Seek external expertise. Consider getting partners, external experts or venders who can provide specialized knowledge and support. By addressing and contemplating on these areas, businesses can increase their chances of a successful digital transformation, enabling your business to stay competitive and responsive in a rapidly evolving digital landscape. Lesson 3 Summary Opportunities, issues, and challenges are part of WE business transformation journey. Trainers are to clarify and explain how Digital Transformation/ Innovation can help groups/participant reduce their challenges. Trainers to advice what opportunities can Digital Transformation/ Innovation offer based on the cases brought up by participants. Lessons can be learned from the issues and challenges experienced by women entrepreneurs. Implementing Organization to ensure that all answers given 48 Foundation Knowledge & Current Situation by par

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