Why do we need more women in business

Why Do We Need More Women in Business?

Worldwide, women have historically been underrepresented, underutilized, and undervalued in positions of leadership in workplaces. But as we gain greater insight into the operation of the corporate world, the importance of leadership of women in business becomes increasingly clear. And while COVID-19 has highlighted the difficulties encountered by business women, it has also shown how crucial it is to keep working for gender equality. 

We often come across viral news where women in the business world are harassed in some way or the other. A few months ago, Uber was the target of a complaint for sexual harassment. In Google’s case, it was for igniting a discussion on whether there is a biological difference between men and women that depicts the latter less qualified for careers in technology. For women working in the business sector, neither issue is very motivating. Why does this keep occurring? For Google, the fact that fewer women working in technology is – if anything – a cultural issue, but for Uber, there is simply no justification for a workplace culture of discrimination.

Why is it important for women to show leadership?

In the United States, women now make up 40% of new business owners, and globally, female entrepreneurship rates have also climbed by 10%.

Successful female business owners are successful for a reason. They are able to overcome the numerous obstacles they must face in order to launch their own businesses.

Any organization that has female leadership, benefits from a better workplace climate overall. Although they may not always be aware of it, women have undeniable potential and capabilities in leadership roles.

Some of the intrinsic qualities of female leaders that make them more in tune with their team include empathy, openness, mindfulness, pressure management, multitasking, and open communication.

When women become leaders, they bring different skills and imaginative perspectives. More importantly, women leaders bring structural and cultural differences to the table that lead to effective solutions. This creative perspective and unique perception also allows you to study and uncover details that others may have missed.

What are the biggest challenges for women leaders?

The common scenario in workplaces is, the world of business is predominated by men. However, this is changing since the past decade. Although the business world is no longer just a man’s game, competing in this challenging environment has always been a constraint for women. From veteran women leaders who have been pushing forward in this business race for years to emerging young women leaders who are serious about making a difference, still face many challenges.

Some of the common challenges faced by women in business are:

1. Managing Responsibilities

In addition to becoming business owners or professionals, many women often have families, spouses, and other responsibilities. A woman may feel pressured to choose between her family and her career due to demands from her personal and professional obligations. The business needs her to be the leader and demonstrate commitment, while the family expects her to be a wife and mother. Those who lack social support find it more challenging because they must bear the entire responsibility alone. While some women are overburdened with these responsibilities, a few can find it hard to balance these two aspects of their lives.

2. Poor Support System

Women couldn’t accomplish a lot of business success because they don’t have the ideal network of support. Lack of a strong support network may contribute to business challenges or failure. Women in business frequently encounter the most difficulties in obtaining support. It could be they lack the necessary connections, require access to money, or need emotional support. They also require sponsors and mentors to help them on this new journey. The cost of the support system forces women to put off starting their own businesses.

3. Inequality of gender

What information do you need about gender inequality? Politics, law, society, and religion — essentially depend on a patriarchal foundation. In the world of men, women must make their way up despite stigma and discrimination. Despite efforts made by legislation and rules to promote a welcoming business environment for all genders, the actual changes have not yet been put into place. Gender lens investing is gaining popularity and refers to initiatives that address gender inequality issues and/or analyze gender issues to gain insight on investment choices. 

Relatable read: Women in Business and Gender Inequality Around the World – 2022

4. Unfavorable Business Environment

Less established business networks, as well as social and traditional obstacles that prevent women from participating in business, are among the many business challenges women face. Sometimes w Women are discouraged from owning businesses by religion also. In some nations, women would be obliged to have a male partner who will be required to close deals, engage in negotiations, and represent the company in public. Despite these obstacles, women’s skills and contributions are increasingly valued in the business world lately.

5. Limited knowledge

Providing a woman with information is simply the first step on a long journey to success in the business world. Daily learning is a part of life because there is always something new to learn. Unfortunately, women have less access to new knowledge and information than men. Due to this competitive environment, women have to go the extra mile to seek out important and useful information.

6 Reasons Why We Need More Women in Business

Women may not always recognize their potential in today’s world, but once it is unlocked, they have an obvious path to success. Their capabilities and skills become noticeable once they find themselves in a leadership position. We need more women leaders in business, because women know the value of work-life balance and thus have the insights to lead a business to the pinnacle of success.

Here are some well-accumulated reasons why we need more women in business leadership roles:

1. Women value work life balance

Most women small business owners say they’re happy because they can be their own boss as well as they can have others working for them. Despite ongoing challenges in business they do well in work life balance. It is easier to speak to female leaders about sensitive topics or personal requests.

2. Women are more inclusive

Women tend to be more inclusive. Female leaders are open to others and they focus on the values that can add a positive impact on the business.

3. Women are more empathetic

Women empathize and understand the worth of relationships. This helps them comprehend people’s motivations better and value their performance. 

4. Women are good at multitasking

Women are generally good multitaskers by nature. They respond to various tasks or issues swiftly and definitively, which is an important requirement for effective leadership.

5. Women have high emotional intelligence

Women are more innately emotionally intelligent compared to men. Identifying your and others’ emotions and relating to them is known as emotional intelligence.

6. Women are pacifists

Since women have less testosterone than men, women tend to be less angrier than men. And this certainly aids in leadership roles.

Also read: Top 10 Successful Business Ideas for Women in Business – 2022

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