Advantages of Women in Business

1. A diverse workforce is an innovative workforce

Diversity—from gender diversity to culture, age, and race—has been shown to foster creativity and innovation. Most organizations across industries are seeking to prioritize and benefit from a diverse and inclusive work environment.


Men and women will inevitably have different experiences and backgrounds, which shape their approach to business. Challenging each other and collaborating with people who think differently can breed creativity and promote the innovative ideas that push organizations forward.

Even with the very best of intentions, we have a tendency to gravitate towards people who are like us. It takes a real leader to say ‘I need someone to challenge me.’ That challenge can spawn new creativity, innovation, and growth.


2. Women excel at the soft skills needed for business leadership

While technical skill and knowledge are fundamental to career success, CEOs consistently cite soft skills as the most desirable professional attributes. Although characteristics like effective communication, empathy, and self-awareness are difficult to measure, they are highly valued and can make a real difference to the bottom line. Recent research has drawn a connection between the strength of character and business performance—with CEOs who rank highly for attributes like compassion and integrity also enjoying a 9.35% return on assets over a two-year period.

Soft skills and emotional intelligence may prove a key competitive advantage for women in business. A 2016 study published by the global consulting firm Hay Group found that women outperform men in 11 of 12 key emotional intelligence competencies. These competencies included emotional self-awareness, empathy, conflict management, adaptability, and teamwork—all essential skills for effective leadership in the workplace

3. Women represent huge economic power and offer important consumer insight

It’s been estimated that women contribute in excess of R200 trillion in consumer spending every year, representing a bigger growth market than China and India combined. Women also account for 85% of consumer purchases.

Despite this, only 11% of creative directors in advertising are women—up from just 3% in 2008. When Boston Consulting Group did a comprehensive study of the “female economy” it’s unsurprising that they found women feel undervalued and underserved by the marketplace. With the power of the female consumer in mind, it’s evident that women are best placed to tap into that opportunity and bring valuable consumer insight to the table.

Tapping into the insight both men and women offer can make products and services more marketable and a business more profitable. In fact, recent research from McKinsey shows that gender-diverse businesses are 15% more likely to outperform financially above the industry median.


Women In Business
Women In Business
Women In Business

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