UNIT 1. LESSON 4.

WOMEN IN BUSINESS
Article: Why women in business became the solution, not the problem
Numbers of top female executives are falling yet evidence suggests they may hold the
key to corporate success
progressive companies - trendsetters - enlightened - perpetuate - outperforming -
talent pool - return on equity - male environment - consumer spending decisions -
executive directorships
When companies look at attracting more women to top positions, the focus is often on how
women should change and emulate their male bosses.
This "fix the women" approach goes a long way to explaining why there are still so few
women corporate leaders. Most women do not want to become male clones. Many
conclude it is not worth the struggle and leave for a job that allows them to be who they
want to be or to start a business.
executive directorships
The number of women holding (1)_________ in FTSE 100 companies actually fell last
year to the lowest level for nine years, according to research by Cranfield business school.
Only 13 executive directors of Britain's leading companies are female - only three women
are chief execs. However, the number of female non-execs increased in 2007 to 110 - up
from 102 the year before. There are 24 companies with no female executives, but 35 firms
with several.
enlightened
More (2)_________ business leaders are realising that it is for them, not the women in their
organisation, to adapt. Olivier Marchal, head of the French operation of Bain & Co, the
management consultant says: "To improve diversity, women may hold the key, but men
generally still control the lock."
perpetuate
Most big companies still (3)_________ career paths, promotion tracks, and leadership
styles from an era when men worked and women took care of the home. In the 21st century,
training women to perform better in a (4)_________ is not the answer. Making businesses
more attractive to women is. male environment
progressive companies
There are many reasons why (5)_________ are waking up to this, not least that they will
talent pool
make more money by doing so. First, there is the (6)________. Women today represent
nearly 60% of graduates in the European Union and the US, and 54% on average across
the OECD. Girls are (7)_________ boys at school and entering the workforce in equal
numbers. outperforming
Second, there is the market. Women have moved from marginal to mainstream as
consumers and (8)________. In the US, women now make 80% of (9)________, including
trendsetters consumer spending
decisions
cars, computers and financial products. "It is the first steps in the creation of a matriarchal
society where the female uses her economic and social power," said Michael J Silverstein,
vice president at The Boston Consulting Group. While the trend is most pronounced in the
US, Britain, Scandinavia and France are not far behind.
For companies to tune into these changes, it makes commercial sense to have women in
their leadership teams, the design teams, and the sales showrooms. In Japan, for example,
women make or influence two-thirds of car purchases. In Britain, young women represent
the single biggest group of web users. There are more female than male millionaires aged
18 to 44.
Third, there is now considerable evidence that shows companies - where women make up
a third or more of the board or senior management - are more profitable than those with
only a few token women.
Research by Catalyst, the US think-tank, has found that Fortune 500 companies with three
return in equity
or more women on the board achieve an 83% higher (10)_________ on average than those
with minimal female representation. Women present an enormous opportunity, as
employees, leaders, consumers and investors, to a business world that opens its eyes.