The study examined how companies changed their strategic approach after adding women to their C-suites, by tracking research and development expenses, merger and acquisitions rates, and letters to shareholders over 13 years to determine how women were improving companies.
Five ways women improve business performance:
- Women are less likely to care about traditional business practices and are more open to change. Communication surrounding openness to change increased by 10 percent after a woman was appointed.
- On the contrary, communication surrounding increased risk-taking in strategies decreased by 14 percent.
- Firms shifted their focus from mergers and acquisitions to research and development.
- The influence of female executives was greater when they were integrated into top management teams.
- Women who make it to executive positions have had to be more careful when weighing the benefits of innovative proposals with the risks of potential failures than their male counterparts.
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