Women are more likely to consider the rights of others and to take a cooperative approach to decision-making, according to a recent survey of 600 board directors. This approach translates into better performance for their companies. The study was published in the International Journal of Business Governance and Ethics.
Here's what was found - in a nutshell:
- Male directors prefer to make decisions using rules, regulations and traditional ways of doing business or getting along.
- Female directors, in contrast, are less constrained by these parameters and are significantly more inclined to make decisions by taking the interests of multiple stakeholders into account in order to arrive at a fair and moral decision.
- Women will also tend to use cooperation, collaboration and consensus building more often – and more effectively – in order to make sound decisions.
- Women seem to be predisposed to be more inquisitive and to see more possible solutions.
"At the board level where directors are compelled to act in the best interest of the corporation while taking the viewpoints of multiple stakeholders into account, this quality makes them more effective corporate directors,” explains McQueen.
The study was conducted by Chris Bart, professor at the DeGroote School of Business at McMaster University, and Gregory McQueen, a McMaster graduate and senior executive associate dean at A.T. Still University’s School of Osteopathic Medicine in Arizona.
“We’ve known for some time that companies that have more women on their boards have better results,” explains Bart. “Our findings show that having women on the board is no longer just the right thing but also the smart thing to do. Companies with few female directors may actually be shortchanging their investors.”
- See more at: http://www.stonehearthnewsletters.com/women-make-better-decisions-than-men-international-journal-of-business-governance-and-ethics/gender-differences-human-behavior/#sthash.3fCHBDuv.dpuf
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