The impact of women in the boardroom
This extraordinary video is still full of breaking news about the future of the board, over two years after it was filmed
Don’t be fooled by the video thumbnail, it’s not just men talking about women
This is a panel discussion held at Stanford Business School
The following details about the talk were given on the website:
Women on Board:
How Women Are Gaining Ground in Corporate Governance
While the press has frequently noted that CEOs of large companies are mostly men, what about their boards of directors?
Recent research has suggested that multiple women serving on a corporate board can be tied to better financial performance among the Fortune 500.
What makes women strong contributors to corporate boards and has this changed how companies view gender balance in their organizational leadership?
Panelists:
Elizabeth Davila, Consultant and Former Chairman and CEO of VISX, Inc.
Serves on the boards of Accuray, Inc. and Nugen, Inc.
Patti Hart, Former Chairman and CEO of Pinnacle Systems and Excite@Home
Serves on the boards of Korn Ferry International, Spansion Inc., and International Gaming Technologies, and previously served on the boards of Plantronics, Inc., Vantive Corp., Earthlink, and Premisys Corp.
John Thompson, Vice Chairman of Heidrick & Struggles
Recognized as one of the most respected CEO and Board recruiters in the nation
Debra Zumwalt, Vice President and General Counsel for Stanford University
Formerly a partner at Pillsbury Winthrop LLP, managing partner of the Silicon Valley office and member of the firm’s governing board
Sponsored by:
- Stanford GSB Center for Leadership Development and Research
- Stanford GSB Women in Management
- Stanford Center on Ethics
- Arthur and Toni Rembe Rock Center for Corporate Governance
“What makes women strong contributors to corporate boards.”
This really caught my attention. As I looked for the answer, I found this article:
http://www.womensmedia.com/lead/87-women-on-corporate-boards-makes-good-business-sense.html
It says, “it makes good business sense to have women on boards. Good business sense means taking into consideration the following: knowledge of the labor pool; knowledge of new and growing markets; interest in improving corporate governance; and the tracking of revenue and profit, i.e. attention to the bottom line.”
Good point there, Malini. Looking around online, I came across this website:
http://www.mediate.com/articles/PynchonVbl20080211A.cfm
It says that a study done by Ontario’s Richard Ivey School of Business and the Wellesley Centers for Women concluded that corporations benefit from the presence of women on the Board of Directors. It goes on to say “We find that women do make a difference in the boardroom. Women bring a collaborative leadership style that benefits boardroom dynamics by increasing the amount of listening, social support, and win-win problem-solving. Although women are often collaborative leaders, they do not shy away from controversial issues. Many of our informants believe that women are more likely than men to ask tough questions and demand direct and detailed answers.”This sounds as if we’d all benefit from having more women on Boards of Directors – is it harder for women to attain this, I wonder?
Here is another study at http://www.palgrave-journals.com/emr/journal/v7/n1/full/emr200927a.html which says that “mere presence of women on corporate boards is unlikely to increase board strategic involvement. However, if women with similar (traditional) professional experiences but different values are selected, they may be able to enrich board decision-making.”
While I was trying to find out if there are any bars to women serving as Directors, I came across this website:
http://www.womenonbusiness.com/serving-on-a-board-of-directors/
It says “I am often asked by women who express an interest in beginning a Board service process what the first thing is they should expect when they are invited to join a local nonprofit Board. “Opening your wallet”, I tell them. It’s logical; if you, as a Board member, do not contribute financially to the organization, how can you expect perfect strangers to give? How much? Each organization has its own guidelines or requirements, but a typical annual amount can be anywhere from $500 to $5,000″
This makes me wonder if women who would be expected to make a financial contribution are put off by this. If you have a family and budgets are limited, surely putting lump sums into a business would leave a feeling of guilt when the money could be spent on family holidays or a child’s education.
What an excellent debate, I run women in business leadership and development courses, and the current press coverage that women in business are getting is incredible. It is important now to ride that wave and make sure more businesses across the world understand our importance and value in the boardroom. This is my next course, would love to get some like-minded feedback http://muikaleadership.com/2010/10/07/leadership-development-for-women/
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