Recession Bust-ers - The ConsumHERist

Posted on | July 23, 2009 |

by Delia Passi

Sunday’s Washington Post had an article by TV journalists and authors of Womenomics, Katty Kay and Claire Shipman, that discussed a number of studies demonstrating how the presence of women in corporate upper management is correlated with better corporate performance. They suggest that one way to boost the economy would be to increase the numbers of women in high places. I certainly endorse that, although the economy might get going before we can get male dominated boards to change their ways.

Women and men bring different styles to management, and it may be, as the authors suggest, that had there been more women in charge that the recession might not have occurred. They talk about the male tendency to take more risks, and the contrary tendency of females toward caution, collaboration and long-term results.

I would go along with this thinking, but I doubt we women could have offset the extraordinary risk taking that precipitated the current financial crisis. It would be interesting to see if there was a high correlation to women in executive positions in the banks that survived as opposed to the ones that crashed. I list some of the latter among my clients so I know that there was some acceptance by them that women are valuable to their business, but maybe they didn’t value women as much among their executive ranks.

One thing I know for sure is that if this recession is going to come to an end, it will be because women regained their confidence in the economy and once again feel secure in doing more discretionary spending. That’s why it is imperative that businesses get serious about doing everything in their power to make women consumers more willing to open their purses.

Men got us into this recession but women will get us out.

Delia Passi, Founder of WomenCertified® and author of Winning the Toughest Customer: The Essential Guide to Selling to Women is a regular columnist on ReachingWomenDaily. Delia can be reached at delia@medelia.com.