Women in senior executive positions enhance ROI.

I just finished reading, Womenomics, Write You Own Rules for Success by Claire Shipman and Katty Kay.  They had some fascinating insights into the value of female leaders and their contributions to ROI.

If you want your organization to increase its ROI, then you might want to know about recent research done in France. The findings show that companies with more women in management positions did better during 2008 than those with fewer women.  For example, the share price of Hermes rose by 16.8%.  Keep in mind that 55% of the firm’s executives are women.

At Pepperdine University, a nineteen year survey of 215 Fortune 500 companies and took three different measures of profitability:  equity, revenue, and assets.   The companies that had the best records for promoting women outperformed the competition.  These companies beat the industry average by 116% in terms of equity, 46% in terms of revenue, and 41% in terms of assets.  It concludes women are good for profits.

What is the link between gender diversity in the top leadership and U.S. corporate financial performance?  In the late 1990s, Catalyst, an independent research organization, completed a study of 353 of the Fortune 500.  A higher number of women in senior management results in a higher return on equity and a higher total return to shareholders by more than one third. 

In an effort to make their firms more competitive in the global economy, the minister of trade in Norway demanded that 40% of women be on the board of each company.  

If your company wants to make more money, then one solution is to employ more women in senior leadership positions.  It seems women are now the hot commodity in today’s workplace.

What can you do to attract and retain top female talent?   Women place a high value on flexibility because it allows them to more effectively live their dual lives as professional women and as mothers.  To retain these employees, companies are offering alternative work schedules, furloughs, unpaid vacation time, and reduced schedules. 

Flexibility is viewed as a way to keep up morale and avoid mass layoffs.  During harsh economic times, this is a way to cut labor costs.  Yet at the same time, companies are able to accommodate the wishes for flexibility desired by many women.

What will the future bring?  Women earn 57% of bachelor’s degrees in the United States and 58% of all graduate degrees.  In business, women comprise over one third of all graduates.  From 1996 to 2002, the senior ranks of women in Fortune 500 companies grew from 10% to 16%.  This is more than a 50% increase in just six years.  The feminization of leadership is a trend worth watching.

Do you think seeking out women for senior executive positions is a good business strategy?

Kim Hogh brings the excitement of science and technology to the Research Triangle Park, NC, USA

I have been on several exciting adventures this year. One included attending the International Association of Science Parks (IASP 2009) conference at the Research Triangle Park in North Carolina, USA.

You may wonder, “What is a science park and what do they do?” Science and technology parks promote the economic development and competitiveness of regions and cities. Science and technology parks make the world a better place because they provide the infrastructure needed for the global knowledge economy. This includes:

• Creating new business opportunities and adding value to mature companies
• Supporting entrepreneurship as well as incubating innovative companies
• Generating knowledge based jobs
• Providing attractive new places for these emerging knowledge based workers
• Stimulating synergy between universities and companies

I had to good fortune to meet Kim Hogh, CEO of Scion DTU. It is one of Denmark’s largest university-based science parks.

He is gracious, generous, as well as quite brilliant. When I walked in I did not know anyone. He began by introducing me to the person who advises him and implements his vision, Gitte Skibstrup Nikolajsen. Kim Hogh introduced me to many of the organizers and the leaders of science parks from all around the world.

The energy in the room was incredible. It was a room full of the most committed people who are determined to make the world a better place by integrating the multiple disciplines of science, research, and business through the collaborative efforts of a network of science parks.

Scion DTU, in collaboration with Symbion Science Park, will host the IASP conference 2011 in Copenhagen. Since Copenhagen is noted as being one of the most innovative places in the world, it is a superb choice.

If you have an interest in science, business, technology, creativity, innovation or if you simply want to make the world a better place be sure to put IASP 2011 on your calendar.

I definitely have it on my calendar. I will see you in Copenhagen!

Author: Kirpal Singh

Back in the 1950’s, when I grew up in a tiny rural community in Texas we pretended we were all one skin color, we all spoke English and we all went to the local Christian church on Sunday.  Ours was a society that valued homogeneity.

Our world has changed dramatically since then. Our ability to travel and do business globally has significantly increased the likelihood that we will meet people from other cultures. Sometimes, we are confused by their assumptions and their behavior. It is unavoidable; we now live in a pluralistic society.

Imagine if you lost a $25 million business deal because you failed to research the cultural expectations of your potential business partner. This is a true story relayed by Kirpal Singh who spoke to the (CSTC) Creative Skills Training Council about the impact multiculturalism has on business and other aspects of our life.

Professor Kirpal Singh, the author of THINKING HATS & COLOURED TURBANS: Creativity Across Cultures, works with governments, non-profits and multinationals, on the issues and challenges surrounding the sensitive arena of cross/intercultural engagements. He is internationally renowned as a creativity guru and futurist.

Since 9-11, there is a new urgency to gain better understanding and knowledge about other cultures. We all have choices to make on how to interact with other cultures. We can demonize those who are different from us or perhaps we can invite them for a cup of tea, get to know them, and understand their perspective.

We are all invaluable as human beings; we bring many gifts from our respective cultures. We can create a world where we value multiculturalism, we can take pride in acquiring knowledge about other cultures, and we can make the choice to celebrate our differences and to live in harmony.

Kirpal Singh speaks about Creativity and Innovation – The Cross-Cultural Dimension. If you listen and learn, you may save your next multimillion dollar business deal.