A larger number of women in leadership roles leads to higher profits, according to Catalyst. On average, companies with the highest percentages of female board directors outperform those with the smallest percentage by up to 66 percent. Learn why women business leaders increase revenue and how they excel in their roles.
Initiative and Adaptation
A survey published in the Harvard Business Review found that women ranked higher in 12 out of 16 core leadership competencies, including collaboration, driving results, and self-development. They also showed a higher propensity for resilience and outside-the-box thinking. These qualities indicate that female business owners may be able to recover from setbacks more easily, and they can also advise colleagues and junior employees how to do the same.
Women also tend to take initiative and drive projects more often than their male counterparts. According to Wall Street Insanity, one explanation is that women constantly feel pressure to prove their worth.
Social Connections
As the roles of media and marketing become more and more important for corporations of all sizes, giving these components adequate attention becomes critical. In recent years, female executives have demonstrated greater capacity for both.
Fast Company explains that about 39 percent of women business leaders are willing to interact with the media on behalf of their companies, as opposed to 33 percent of male executives. In the world of online media, about 20 percent of female executives are willing to participate in their companies' social media marketing. In contrast, just 15 percent of male leaders are willing to perform these increasingly critical roles.
As women take on more substantial roles in the business world, their impact continues to grow. Their roles as initiators, representatives, and connectors have proven financially successful in the marketplace, giving them the potential to fill more high-ranking corporate positions.
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Sources:
WSU Online MBA Programs
The Bottom Line: Connecting Corporate Performance and Gender Diversity - Catalyst
The Business Case for Women in the C-Suite - Fast Company
Women in Leadership are Driving Profits - Everwise
Ways Businesses Benefit From Women in Leadership Positionis - Wall Street Insanity
Dynamics of the Gender Gap - The National Bureau of Economic Research
Why Diversity Matters - McKinsey & Company