The bronze statue of a young girl facing the Wall Street Bull will continue to provoke big firms to include more women on boards. It isn’t just the right thing to do; it’s the smart thing to do.
I don’t see gender diversity in leadership as fitting into Corporate Social Responsibility. I see gender diversity less as a moral or social issue, and more as a business or economic issue. There are, however, links between gender and CSR. Who do you think influences their companies – and their fathers—to commit more to CSR?
Why do companies with women on their boards get better financial results and have higher stock prices? A recent New York Times opinion suggests it is because women make better decisions under stress. There are both masculine and feminine approaches to making decisions. When there is gender diversity in a group, it is more likely that there will be both kinds of decision process. It is the balance of these approaches to making decisions that explain better outcomes. Having women on boards enables this balance.