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Increasingly Diversified Economy

As mentioned in the previous report, factors such as education brought about the increase in real wages amongst the women gender. Within 20 years from 1988 to 2008, women’s wages rose by an average of 11.6%. The increase in wages among women age 45 to 49 at 17.8% made the most improvement. Next, according to the US Census Bureau, Bureau of Labor Statistics, it states that in 47 of the 50 largest U.S. metro areas, women in the 20s are already making more money than their male counterparts.

With a higher wage brings about a higher purchasing power amongst women. This can be clearly seen in the increase in purchasing power from the purchases made by women, where women make up of 58% on online retail dollars spent, 80% on health care decisions and 45% of consumer electronics. Today, businesses are increasingly focusing on the growing female market, as more women are responsible for making decisions on purchases.

Quoting from an article by TIME, “Women are using their rapidly increasing spending power to impel changes in the way companies operate”. With the strategies for companies changing, globalization also brings about a need for more diversified teams and workforce. Having a more diversified workforce would mean allowing more minorities on board, where the diversity could potentially be difficult to manage. Recent research has shown that there is an increasing need for women in managerial roles as they are more risk adverse, empathetic, possess better listening skills, and such. Furthermore, an interview conducted with Microsoft employees mentioned that employees working under a female manager is more polite and feels the environment functions differently and is more emotional in a positive way.

The importance of having a female workforce brought about certain changes within companies such as Ernst & Young and Addleshaw Goddard to re-evaluate the issue of recruiting and retaining female talents.

IBM Female CEO

Taking over Sam Palmisano, Virginia Rometty is the first female CEO in IBM’s 100-year history. With IBM achieving a yearly revenue of $100 billion and a market capitalization over $210 billion, Rometty will be in control of one of the most influential companies in the world. According to Palmisano, Rometty has initiated some of IBM's most crucial businesses, and was indispensible in the formation of IBM's business services division. For example, she was in charged of the company’s $3.5 billion procurement of PricewaterhouseCoopers' consulting business back in 2002, which became an important part of a plan that has made IBM a ideal role model for many organizations. Palmisano also mentioned that Rometty goes beyond a excellent operational executive, where she possess a unique array of valuable skills such as excellent foresight, client focus, undying drive and enthusiasm for the company and its future. According to a source, Rometty was chosen as the CEO because she possesses skills such as her willingness to take risk, her people skills and her relentless focus on the customer.

Why men used to dominate the society
The expectations of roles began when stereotypes are casted to our society. There is no concrete evidence that states the actual rise of a patriarchal society, however historical artifacts such that the works of Aristotle depicts women to be inferior to their male counterparts in many aspects. Some even claimed that women only existed to satisfy and serve the male population. In the past where physical strength is much needed, males are more preferred than women and are hence given more roles in the society as compared to female, who can only assume the role of a caretaker.

Now that we are progressing towards a knowledge-based economy where physical strengths are increasingly replaced by automated machines, more women can replace the roles where physical strengths are required.

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[ 1 ]. http://www.time.com/time/interactive/0,31813,2031700,00.html#ixzz199EoYosn
[ 2 ]. http://www.coaching-for-new-women-managers.com/business-women.html
[ 3 ]. http://healthland.time.com/2011/06/28/why-women-are-better-at-everything/
[ 4 ]. http://blogs.reuters.com/great-debate/2011/03/08/women-lead-differently-than-men-and-thats-a-good-thing-for-business/
[ 5 ]. http://www.blinkx.com/watch-video/microsoft-women-in-demand-for-senior-management-positions/cI-ZPmK2-WBXNlj3fbFVSw
[ 6 ]. http://www.economist.com/node/15174418
[ 7 ]. http://www.guardian.co.uk/technology/2011/oct/26/ibm-female-ceo-virginia-rometty
[ 8 ]. http://articles.businessinsider.com/2011-10-26/tech/30323636_1_robert-moffat-ibm-insiders-sam-palmisano
[ 9 ]. http://www.equalityforwomen.org/texts/male_dom.htm

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