It was not long ago when the first woman CEO was appointed for a Fortune 500 company. The year was 1972, and that first female CEO was Katharine Graham. The industrial revolution took place somewhere between 1760 and 1840, and yet it took a female to be a CEO for so much a long time. Women have been discriminated from the last many thousand years, and they struggled for a very long time to get their rightful place in society. The male-dominated society never let her use her full potential to take a similar part in development. With time, people changed, their thinking changed, and women stood up for themselves and succeeded in attaining a respected place in society and many other areas. In business, women have been looked to be a secretary or an assistant, and the women at higher positions also have needed men’s reassurance in work.
In the last few decades, women have shown their true potential of working and proved to be men’s equivalent. In almost all the fields, women have proved their excellence. There are women in the army, business, marketing, etc., proving themselves to be as capable as men. Economic empowerment of women has increased women’s access to government programs, economic independence, and business power. But there is still a long way to go.
The statics of 2018 show that out of Fortune 500 companies, 5 percent of companies have women CEO. Though in 2017, it was 7 percent. There are 10 percent women entrepreneurs, and this number was 114 percent more than 20 years ago. In China, 55 percent of total entrepreneurs are women. Women have definitely made a place in business, and they will definitely make a considerable number soon in the coming future. Laura Rea Dickey, Chief Executive Officer (CEO) of Dickeys Barbecue Pit, is one great example of this. Here are the reasons why women are doing great in business and marking as successful businessperson.
- Emotionally intelligent: There is a lot of interaction with people in the business. Meeting with customers and understanding what they want is easier for women because they are better than men at emotional empathy. Women have an instinct of relating with people and their feelings, which gives them an advantage in building customer relations, business relations, professional relations, and relations with employees. The relating thing makes them a better leader and better businessperson. The connection and engagement with the customers always help business. The value that women give to relationships and the empathy that women inherently have helps them advance the business. The natural tendency to support others helps them build trust with employees, customers, investors, etc.
- Experience in facing difficult situations: The women are underestimated in business by the employees, workers, suppliers, etc. They have to face many business barriers dealing with clients, customers, financiers, investors, etc., which affects the business. But women are hard-working, so they prove themselves one way or another. The innate ability to face mental and physical strain helps women face all the problems they come across in business. The patient mindset helps them work on long-term strategies resulting in better and long-lasting outcomes.
- Multitasking abilities: Women are better than men at multitasking. The energy required for switching tasks is more in men. It is easier for women to switch attention, and their brains do not require extra resources that do not require more energy, unlike men’s brains. Naturally, women can maintain multiple priorities and are also able to perform many roles at the same time.
- More realistic mindset: One indeed has to make some big decisions and big steps to succeed in business sometimes. The big decisions do not always result in better business, and sometimes these risk-taking abilities can lead to the fall of the business. Women, on the other hand, tend to be more realistic and practical about everything naturally. They consult with others, take second guesses, etc., and this saves the business from falling into the result of miscalculated risks. This being less-confidence in decision-making saves a company from disastrous results of over-confidence.
- Better mentors: Women are better at nurturing the people around them, and this enhances the success of the company, and trust of customers, and respect from employees. They have a different approach for inspiring and motivating the employees, making the employees feel more secure and motivated. They can help the people around them in business and outside the business, and this nature helps them build stronger relations with employees proving women to be much better mentors than men.
- Not afraid to share the credit: Women are never afraid of sharing the credit when there is success in any work, and this nature makes the employees feel more valuable and helps them work harder. The nature of being truer towards the situations and open about the real conditions of business lets them serve better and truly in business.
- Work together thinking: The women are less egoistic than men, and they love to work together for a common aim. Also, when succeeded, are not afraid to share credit. They are not afraid to get input from others. Men are less likely to ask for help when in any bad situation, while that does not follow women. Women are not afraid to ask for directions and guidance when lost or stuck somewhere.
- Better negotiation abilities: Negotiation means that both parties are fairly and equally getting to win, and no one is losing. The empathic nature of women allows them to be fair when it comes to negotiation. They don’t even have to use intimidation or lies to get to win the argument or a deal. They stay true to the situation and end up the negotiation on good terms for the parties.
It is fair to say that women can do better than business people. The nurturing, caring, hard-working, multitasking abilities of women help them do better for everyone around them.