Imagine running an oil company where only one or two of the directors on your board have oil industry experience. Imagine running a computer company where none of the board uses a computer, tablet or smart phone. Now imagine corporate America running their businesses where less than 15 percent of their boards are women.
Women are not a minority except in terms of their parity with men on corporate boards. While women account for over 50 percent of college graduates and they dominate economic power in our economy with $8 trillion of annual buying power, they still account for less than 15 percent of S&P 500 boards of directors. Three percent of Fortune 1000 companies have no women on their board of directors. For the next tier of 1,000 midsize companies the level of ZERO women representation on the boards jumps to 30 percent.
Kellie McElhaney, the Whitehead Faculty Fellow in Corporate Sustainability for the Haas School of Business at University of California, Berkeley and Sanaz Mobasserir, a PhD candidate at the Haas School, conducted original research on female board of directors and corporate sustainability. They investigated the corporate performance of more than 1,500 companies across three main categories of environmental, social and governance. Their key findings were that companies with more women on their board of directors are more likely to:
Bill Roth is an economist and the Founder of Earth 2017. He coaches business owners and leaders on proven best practices in pricing, marketing and operations that make money and create a positive difference. His book, The Secret Green Sauce, profiles business case studies of pioneering best practices that are proven to win customers and grow product revenues. Follow him on Twitter: @earth2017
Bill Roth is a cleantech business pioneer having led teams that developed the first hydrogen fueled Prius and a utility scale, non-thermal solar power plant. Using his CEO and senior officer experiences, Roth has coached hundreds of CEOs and business owners on how to develop and implement projects that win customers and cut costs while reducing environmental impacts. As a professional economist, Roth has written numerous books including his best selling The Secret Green Sauce (available on Amazon) that profiles proven sustainable best practices in pricing, marketing and operations. His most recent book, The Boomer Generation Diet (available on Amazon) profiles his humorous personal story on how he used sustainable best practices to lose 40 pounds and still enjoy Happy Hour!