She “kick-started the entrepreneurial revolution in the 80’s that allowed chirpy chappies to succeed and not just the elite,” according to Lord Sugar. Margaret Thatcher proved that women could be leaders even rejecting the term "feminism".
She was, without a doubt, the first symbolically empowering female prime minister of the United Kingdom, being an inspiration for all entrepreneurial women. In 1979, most employers valued men about twice as highly as women, with a gender salary disparity of nearly 40%. And many people genuinely thought that women lacked the psychological and biological makeup needed for leadership positions. That changed with a unique woman holding the top role: Margaret Thatcher.
As the longest-serving prime minister of the twentieth century, Margaret also faced many critiques in front of her failures. Some would say that her macho leadership style was a huge drawback for women’s progress (Watson, 2022). On the other hand, others feel that the criticism around her power techniques is only the result of a gender controversy. In fact, the writer of The Winner Effect, Ian H. Robertson believes that “she was a dominant politician, but whereas in a man this would often have been seen as a virtue, her gender meant that this tough leadership style was often negatively framed as a particularly female type of hectoring.”
Thatcher's enterprise and small company policy underpinnings allowed individuals from all backgrounds to truly have a go at starting a business. Throughout her first four years in government, she introduced more than a hundred initiatives to help small businesses, giving hope to millions of entrepreneurs. Furthermore, a far greater number of women were touched by the start-up programs than by any previously introduced government initiative. The most well-known of such programs, the Enterprise Allowance Scheme, gave rise to a group of imaginative and enterprising individuals, which included the creators of Superdry and Creation Records.
Although her impact during her career seems undeniable, we are left wondering what makes her relevant in the modern day. Many of Margaret's sayings still hold true for current professional women. Yet, the most relevant for all of us seems to be that “there can be no liberty unless there is economic liberty.” Whether it's a fantasy of financial freedom or a desire to stay out of poverty as long as possible, the majority of people have a common goal of succeeding financially.
As female business students, the first question we face is: what does success mean? Some could consider stability within the family, while others might value it in relation to health instead of considering its financial aspect and the above-mentioned economic liberty. Economic freedom is the ability of people to pursue one’s interests independently of a specific group of individuals. (What Is Economic Freedom? - Definition | Meaning | Example, 2023). Therefore, in this never-ending international age of economic, political, and social struggle, nothing appears to be of stronger relevance than Margaret’s words.
Margaret had a definition of success of her own at her époque, believing it is “a mixture of having a flair for the thing that you are doing; knowing that it is not enough, that you have got to have hard work and a certain sense of purpose.”
Lechter Sharon L.'s book "Think and Grow Rich for Women", inspired from Napoleon Hill, states that the 13 principles of success—which include goal setting and cultivating an entrepreneurial mindset— all originate from a burning desire. As a matter of fact, the author spends the whole first chapter on how to recognize and nurture this burning desire, which aligns exactly with Margaret's definition of success. Lecheter’s explanation reinforces the idea that Margaret’s views were not so wrong and that, overall, she helped people understand if and how to identify this burning desire.
Margaret Thatcher was viewed by many as Britain's post-war savior due to her conviction, resolve, and iron self-belief (Robinson, 2013). The Argentine Junta's loss in the South Atlantic, trade union regulation, and the treatment for the "British disease" are really all credited to her. However, several people have never forgiven her for the profound economic and social divisions they believe resulted from her controversial claim that "there is no such thing as society." resulting in the development of a highly contested image of this female leader.
As summarized by the BBC: "She was not just Britain's first woman prime minister; not just the first to win three consecutive elections and to leave office having never lost one; not just the first successful British wartime leader since Winston Churchill, she also [and most importantly] shaped the political generation which followed her.”
Hence, Margaret Thatcher is regarded as one of the most significant female leaders of her day because, like it or not, she helped to shape this next wave of female entrepreneurs in which we find ourselves. She also served as a role model to many ambitious women, and she will always be a figure of inspiration for all.
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