All Articles Tagged "women in business"

Are Ethical Concerns Stopping You From Getting Ahead In Business?

April 4th, 2013 - By Tonya Garcia
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New research included in this Slate article shows that it’s not just the inability to “lean in” (as Sheryl Sandburg says) that’s stopping women from reaching the uppermost tiers of the business world. It could be a reluctance to bend ethical rules that stops us.

In the first of three separate studies, men and women were presented with a number of situations that touch on a number of values, such as honesty and loyalty, and asked where people would compromise to get ahead. More women found the ethical compromises “offensive” than men. In a second experiment, college students were presented with job descriptions and responsibilities with varying instructions about engaging in ethically questionable behavior. Men were interested no matter what. The women’s interest was dependent on the ethical implications.

Finally, in the third experiment, male and female Berkeley students were asked to make quick word associations. More women associated business with immorality.

One of the study’s authors, Jessica Kennedy from Wharton Business School, suggests more ethical training at the workplace. We agree; ethics are often overlooked in the workplace, with a greater focus on positive results even if you have to occasionally cross ethical lines. The ability to act more ethically not only makes the company better, but could improve diversity, which also has positive business results.

But if the findings of these experiments are true, we may see a shift in ethical standards in industries across the spectrum even without widespread adoption of ethical courses. A recent report from American Express Open shows that the number of majority women-owned businesses are growing, with 28.6 percent growth between 2002 and 2012. Moreover, these businesses are getting bigger, with more majority women-owned companies reporting $10 million or more in yearly revenues.

Dr. Marsha Firestone, Ph.D., the president and founder of Women Presidents’ Organization, a nonprofit organization whose members are women presidents of multi-million dollar companies, emailed us about this growth in women-run companies. (AMEX Open and WPO are partners.) She told us:

There has been a sea change in the last decade (2002 – 2012) in the kinds of businesses owned by women. They are now heavily in non-traditional industries. The greatest number of million dollar plus women-owned businesses is in wholesale trade (20%), finance/insurance (12%) and transportation/warehousing (11%). In the WPO the largest number of businesses is in manufacturing/distribution. We have seen according to the Growing under the Radar report by American Express OPEN that healthcare, social assistance and education are industries in which the growth of women’s ownership has been the strongest. We suspect that those same industries will continue in the near future. We have seen in the last decade that those women-owned businesses generating more than $1million have grown by 31%. That number would be even greater if businesses 50/50 owned by male and female partners and businesses with financial investors were included in the research.

As more women become business leaders, we could also see a shift in how business is done, with ethics and other concerns (like childcare and maternity leave) taking on greater importance.

Separately but related, Dr. Firestone also says that, among businesses owned by women of color there’s been growth of “9% to 12% in the last five years.” Get it ladies!

“We have worked with 100 Black Men of America to identify and honor women of color in specific communities who have become role models and leaders,” her email continued. The WPO is hosting its conference in Dallas next month in which black women business leaders will be highlighted. More info here.

 

Just Say No! When It Comes To Business, Stop Being The Nice Girl

February 25th, 2013 - By Ann Brown
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Saying “no” is hard for many women. And not being nice is even harder. But when you are an entrepreneur you can’t always be the nice girl.

“[S]ometimes, when you’re an entrepreneur, being nice to others means shortchanging yourself and your business,” writes Inc. Learn to say “no.” Although a client or customer is “always right,” there are times when you can’t cater to their every whim,  especially if it does not make sense for them or you.

Set boundaries even with your customers. According to Peter Bregman (via Inc.), writing on the HBR Blog Network, there  are effective ways to say no:

  • Push back: If you have a customer or client who is pushy, “give yourself permission to be just as pushy as they are. They’ll respect you for it.”  It might be best to make light of the situation instead of just butting heads.  Bregman suggests you say something like: “I know you don’t give up easily — but neither do I. I’m getting better at saying no.”
  • Have boundaries: There are just some things you are always going to say no to regardless of  how many times you are asked. Make this known and standard policy; one  that is not flexible.
  • Don’t worry about loss: As they say, one door closes and another opens. Don’t say yes to every opportunity just because you are afraid of losing business. Your peace of mind and work standard is worth more than money.

We’d also like to suggest that when you say no to a customer, give them an alternative. Even if it means sending them to another company that can handle the service they need. Your client will appreciate your honesty and the fact that you are trying to solve their problem. They will come to trust your opinion and your company’s ethic.

Do you have a hard time saying “no”?

Business Exec Quits Job to Launch a New Organization, Black MBA Women

December 17th, 2012 - By Tonya Garcia
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via Black MBA Women's Facebook page

via Black MBA Women’s Facebook page

While we’re on the topic of women with advanced business degrees, we have news that Daria Burke, a successful Estee Lauder exec, has left her job to start a new program: Black MBA Women.

The stated goal on the organization’s website is to “create and reinforce a strong network of black women with top MBA degrees, and to empower the under-served post-MBA community by providing professional development content and programming, and access to relevant career opportunities.” The group is a membership organization that seeks to connect black women who are enrolled or have completed their studies at one of the nation’s top 25 business schools.

Before launching the program, Clutch reports, Burke was the director of make up marketing at Estee Lauder. She points out that the CFO of that company, as well as executives at many others, are black women. Taken a step further, Black MBA Women wants to highlight the accomplishments of these women and encourage young black women to consider business school.

“It is so important to tell the range of our stories, and for these amazing women— many of whom go unnoticed—to be recognized for their success and the barriers they continue to break for us to have a seat at the table,” she tells Clutch.

Membership costs $50 annually for students and $250 per year for professionals. The group is exclusive, but the opportunity to network among these MBA candidates and graduates is priceless.

Small Business Spotlight: Sweet Treats You Don’t Have To Feel Guilty About

July 26th, 2012 - By God-is Rivera
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Treat Me Maddy Cupcake Bath Bomb. Photo: TreatMeBathAndBody.com

 

When was the last time you treated yourself? How long has it been since you indulged in a satisfying dessert, a relaxing bubble bath, or even just 30 minutes of peace and quiet?

As women in today’s society we are professionals, mothers, wives, students, and more.  We wear so many hats it’s not always easy to scrounge up the resources for a personal treat. From financial obligations to scheduling obstacles, women often find themselves on the bottom of the totem pole of self-indulgence.

Fortunately, one Brooklyn, NY mom set out on a mission to help the everyday woman be good to herself. The result is her creative and delicious approach to holistic bath and body products, Treat Me.

Treat Me is an all-natural line of soaps, bath bombs, exfoliation scrubs and moisturizers that are shaped and scented after what we all crave — sweets! From the “Mint Chocolate Dream” soap, to the “Sugar Scrub Cubes,” Treat Me founder Teneshia LaRoda-Griffith wanted to create a product that embodies some of the sweet luxuries that women often cheat themselves out of and promote an opportunity for ladies to take a few moments to themselves. “This was my ode to women,” says Griffith.

Not long ago Teneshia was a busy, stay-at-home mom, who was balancing a household, a marriage, and a toddler with little time left for pampering. “I stopped being able to get my hair and nails done,” she recalls. “I had to find a way to do this for myself.”

The idea was born to create a line of bath and body products that have the added indulgence of the delectable fragrances of some of our favorite confections. A self-proclaimed “foodie at heart,” LaRoda-Griffith was inspired to take her creation to the next level while shopping for cupcakes for her daughter’s birthday party. She was hit with the notion to make her products not only smell scrumptious, but look exactly like their appetizing counterparts. “Sometimes even just smelling things can make you feel full,” she explains. “Solve your cravings this way!”

Teneshia LaRoda-Griffith of "Treat Me" Bath and Body Products image

Teneshia LaRoda-Griffith

Aside from the fact that all the Treat Me products are organic and free of harsh sulfates and chemicals, the line is priced to make it easy for those who are financially challenged to feel lavish. With prices as low as $6.95, women from all walks of life can easily find room in their budget for one of these sweet treats.

“I got a lot of flack for charging such low prices,” says Griffith, “but I know what my products do for me. And if I’m helping people, then the money will come. If I have a thousand women who swear by Treat Me then I’m good.”

 

Entrepreneur Spotlight: Shafonne Myers, Founder and Owner of Pretty Pear Bride Magazine

June 1st, 2012 - By Andrea Williams
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"Shafonne Myers"

by Andrea Williams

By numerous reported accounts, the average dress size of American women is a size 14 and, according to a 2011 Gallup Poll, the self-reported weight of women is up 20 pounds from 1990. But despite greater numbers of larger waistlines, there are still segments of American business and society that seemingly turn a blind eye to the unique needs of full-figured women – including the bridal industry.

Enter Shafonne Myers, founder and owner of Pretty Pear Brides Magazine, the online and print source of “bridal inspiration for plus-sized brides.”

Myers fell in love with all things matrimony as a wedding and event planner when she began coordinating events while studying biology at Mary Baldwin College in Virginia. Though a full-time career in event planning beckoned after her 2001 graduation, she took the “safe” route and went to work in medicine.

It was until Myers planned her own 2004 wedding to her high school sweetheart that she decided to start her own business, with a blog thrown in for good measure. But despite the success of her site, the wedding blog market was becoming more and more saturated, leaving Myers in search of a niche.

“I was a plus-sized bride, so I knew the trials and tribulations that a plus-sized bridge goes through from personal experience,” Myers says. She soon discovered that many of her clients were sharing the same struggles and, in February 2011, the Pretty Pear Brides website was born.

So how did Myers transition from blog to full-blown magazine? She credits a close-knit group of friends that encouraged her to push well beyond her comfort zone. “I have four or five girlfriends that I talk to at least three times a week,” she says. “I didn’t have any publishing experience, but they kept telling me that I could do it.”

What Myers lacks in experience, she makes up for with first-hand knowledge of the subject area and a true commitment to bringing awareness to the plus-sized bridal market. Pretty Pear Brides is full of candid talk about body image and the full-figured experience – a welcome sight for other women who can relate to Myers’ similar story.

Do You Command These Qualities of Great Entrepreneurs?

May 14th, 2012 - By Charlotte Young
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http://www.bet.com

As an Inc.com article points outs, “good entrepreneurs make money. Great entrepreneurs make serious money.” Of course, it’s not just about the financial difference; it’s an attitude adjustment as well. If you find you’re an entrepreneur with a good steady income but still feel you could do better, here are a few qualities you should try to incorporate in your daily life.

Find happiness in the success of others. Value your teammates and help them understand their own role, don’t be afraid to make sacrifices for them. When you can rejoice when colleagues reach their goals, you’ll find your own personal success will grow.

Continually search for new experiences. Although many may view easily changing interests and switching commitments as a drawback, the ability to novelty seek as it is often called can also have its advantages for business growth. Dr. Robert Cloninger, a psychiatrist, tells Inc.com that “Novelty seeking is one of the traits that keeps you healthy and happy and fosters personality growth as you age… if you combine adventurousness and curiosity with persistence and a sense that it’s not all about you, then you get the creativity that benefits society as a whole.”

Don’t think work/life balance, just think life. Entrepreneurship isn’t just about working. It’s about developing a business idea and watching your dream grow into a lucrative reality. You gave birth to the idea and it’s your baby. So of course your business is your life. The difference between good entrepreneurs and great entrepreneurs is that they find ways to include their family and friends into the equation instead of exclude them or their work. They know how to bring passion and personal values into their professional life.

Great entrepreneurs are exceptionally empathetic. They realize that their success is dependent on putting themselves in a person’s shoes and finding business solutions to a problem. They also realize that they can’t stop at emphasizing with clients alone. They must also be able to put themselves in their employees’ shoes. They realize that success also centers on the happiness and effectiveness of the employees.

To great entrepreneurs, money isn’t a reward of good business, it’s a responsibility. Money earned isn’t simply to buy expensive cars and clothes or to throw grand parties. They recognize that money isn’t just to improve their own life; it’s also to assist the people around you. It’s a way to grow your business, reward and professionally develop and train your employees and to give back to the community.

Lastly, great entrepreneurs don’t realize just how great they are. Although they know that their success is a result of personal ambition, persistence and execution, they also recognize that great business wouldn’t be possible with great mentors and employees. They remain humble, continue to ask questions, seek advice, learn from others and give praise where it’s due.

More on Madame Noire Business!

Do You Need To “Think Like a Man” To Get Ahead In Business?

April 26th, 2012 - By C. Cleveland
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Thanks to the release of the romantic comedy “Think Like a Man,” inspired by Steve Harvey’s similarly titled self-help book, everyone seems to be talking about how women can benefit from taking on a masculine approach to life. The film and book address personal relationships, but can this concept be applied to the boardroom?

The number of working women has increased to 72 million (up from 44 million in 1984) and accounts for nearly half of America’s workforce according to the U.S. Department of Labor. Yet, the executive suite remains a man’s world. Women make up only 2.6% of Fortune 500 CEOs.

The gender gap in the corner office is often attributed to unwritten rules of the workplace that favor men. Today’s workplace is fueled by old principles based on masculine norms. Masculine attributes like self-confidence, assertiveness and dominance are more valued than those associated with women. Women find themselves in a catch-22: when they exhibit these “masculine” characteristics, they often fall victim to backlash for being bitchy or less socially skilled.

There’s a stigma carried by female leaders. Leadership requires a person to be decisive and in charge. When a woman takes on this role, they are deemed undesirable. A Work & Power Survey conducted by Elle and MSNBC.com found that the vast majority of respondents who expressed a gender preference for their leaders felt men were more likely to be effective leaders.

The workplace values the traits of men more, but doesn’t want a woman to embody them, lest she be deemed unfriendly. How can a woman win? Researchers at the University of London found that women who suppress their nature in favor of aggressive management styles were less likely to have a cooperative staff. Women fared better when they embraced feminine qualities of sensitivity and good communication. The secret to success is a balancing act, adjusting behavior for each situation with the right mix of male and female traits.

As work becomes more global and collaborative, many companies are turning away from old values in favor of a fresh, feminine approach. Women are more intuitive to bringing in all points of view and are stronger with networking and supporting each other. Rigid hierarchy and top-down management are being dismantled in favor of a more inclusive, collegial style that women are naturally adept.

The face of business is changing in step with how business is done. American women are receiving more college diplomas than men, and are more likely to pursue an advanced degree. Education is a key factor in determining who gets hired. It is inevitable that there will eventually be more women than men in the workplace. In the very near future men will be asking how they can think like a woman to get ahead.

Cortney Cleveland is a freelance writer and content strategist in New York City. You can follow her on Twitter @CleveInTheCity.

More on Madame Noire Business!

In Unsurprising News: Study Shows Young Women Want Career Success More Than Young Men

April 20th, 2012 - By Charlotte Young
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http://wemagazineforwomen.com

A new Pew Research Center study observes that more young women than young men want a successful, high-paying career, a vast contrast to the perspectives in the 1990s. According to the report which was released on Thursday, 66 percent of women between ages 18-34 said being successful and having a high paying job are very important compared to 59 percent of men the same age. But despite young women’s desire for high work success, they still also deeply desire marriage and children.

“They’re not backing away from wanting a successful marriage and wanting to be a successful parent,” Kim Parker, the associate director of Pew Social and Demographic Trends said to MSNBC. “They’re saying they want all of those things.”

These findings come in the midst of more women than men earning college degrees. Women now also make up almost half of the workforce in the US. But that is not to say that there are less men that want career success. Parker notes that the survey says nothing negatively about men. In fact, the value men place on work success has increased one percent. But more women than ever are valuing education and career success, with a 10 percent increase from 1997.

When it comes to marriage on the other hand, the importance of marriage for young men has decreased to 29 percent. Men still place high value on being a good parent, although the percentage is even higher for young women.

The study also finds that both older men and women surveyed place less value on work success. Parker admits that as these young women age, it’s unclear whether their work ambition will diminish.

“It’ll be interesting to see if this plays out for them or if they end up running into glass ceilings or too many challenges in terms of balancing work and family,” she said.

More on Madame Noire Business!

SXSW 2012: Women Influencing Africa’s Tech Scene

March 14th, 2012 - By MN Editor
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Africa, Tech & Women: The New Faces of Development" panelists (left to right) TMS Ruge and Liz Ngonzi discuss the role of women in Africa's tech space (Image: Winston Ford)

Many people’s view of Africa is outdated, and, quite frankly, inaccurate. The Western world continues to be shown images of poor, uneducated women in villages with no access to the modern world.

Where are the progressive images of young women using social media to share their stories, or women heading technology companies in places like Nigeria and Kenya? These questions were asked at Monday’s panel “Africa, Tech & Women: The New Faces of Development” at this year’s South by Southwest Interactive Festival. Led by Project Diaspora co-founder TMS Ruge, the hour-long discussion shed a different light on the role of women on the continent. The panel featured such notable figures as Vice President of InMobi AfricaIsis Nyong’o and Ebele Okobi of Yahoo!.

Read the rest at BlackEnterprise.com

How Business Schools Neglect The Working Woman’s Needs

February 10th, 2012 - By Charlotte Young
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A Forbes article makes an alarming finding: one in three women with MBAs are not working full-time, compared to one in twenty men. Although many of these women desire to return to the workforce full-time, they are unable to do so without major career difficulties. Why? Perhaps, it’s because business schools aren’t structuring their MBA programs to fit the needs of its women students. As the Forbes article points out, Business schools neglect to address the varying life situations students will encounter as they go out into the work force; a significant disadvantage to producing “principled leaders.”

“The last frontier for women’s advancement at work is understanding how men and women re-define roles at home,” Anne Weisberg, the head of Diversity at global financial management firm Blackrock, said to Forbes. Business schools tend to prepare students only as future employees without taking life changes into account. As a result, many women in MBA programs feel that their family and work lives must be overcome, and not managed. Weisberg believes that if business schools were to offer classes on gender and life issues, it would save firms from losing strong employees and stop them from paying heavy transition costs.

In addition, when women graduate and reach the workplace, a study by Leipzig Professor Anne Huff finds that women often volunteer for “maintenance-level roles” like note-taking for example, that may lead to little recognition of their work. But it’s not just the lack of diverse and innovative classes that make business school less effective for women students. MIT Sloan Dean David Schmittlein observes that in top 10 MBA programs, women tend to be younger than men.

“This may lead to a negative perception of their experience in the business school environment,” he said to Forbes.

Schmittlein also notes that research proves women aren’t called on in class as much as men. Even when they are, their peers are less likely to offer feedback to their comments.

Women business students also face a lack of role models. Schmittlein notes that the number of women facultry members is small in business school faculties across the country.

With so many factors at play that hinder women’s success, one thing is clear: in order to better prepare women students, business schools need to restructure their courses and better analyze and address the situations women professionals will face.

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