Certification in Supplier Diversity Practice Exam

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How is a Woman Owned Business defined?

At least 51 percent owned and operated by women
Majority owned by men with female representation
There is no specific percentage required
Only registered women-owned organizations qualify

The correct answer is: At least 51 percent owned and operated by women

A Woman Owned Business is defined as one that is at least 51 percent owned and operated by women. This definition is significant because it establishes a clear benchmark for ownership and control, ensuring that women not only hold a majority stake in the business but also play a crucial role in its management and strategic decision-making. This criterion supports equitable opportunities in business environments, aiming to level the playing field for women entrepreneurs who may face systemic obstacles. In contrast, options that suggest majority ownership by men or that lack a specific percentage do not align with the established criteria for Woman Owned Businesses. Additionally, the notion that only registered women-owned organizations qualify fails to recognize that ownership and operational control are the key factors, regardless of registration status. Therefore, the definition focusing on the 51 percent threshold is critical in identifying and promoting true woman-owned enterprises.