How Women Leaders Are Changing The Ways Of Running A Business

In this new era of girl bosses and women in leadership positions, the traditional businesses as we know it, are up for a major overhaul. Driven with high emotional quotient, women entrepreneurs are redefining archaic practices, dissolving rigid hierarchies to open floodgates of innovation, collaboration and of course, growth!

The 2021 report by EdelGive Foundation certainly supports the same. While looking at women-run businesses in different countries, the report highlighted that entrepreneurial ventures with women at their helm in India are expected to witness a 90% growth in the coming 5 years when compared to the US and the UK.

In fact, before this, a 2018 report by Global Leadership Forecast had indicated 1.4X the most sustained and profitable growth for businesses where women comprise 30% of the leadership. 

Thus, women in leadership are directly contributing to the bottom line and financial growth of organisations. This invokes a curious thought! What is it about women in leadership that enables them to achieve better, more significant results. What is the special edge and unique competencies that women leaders bring to the organisations that create better outcomes? Let’s take a deep dive into the same and demystify ways in which women leaders are revolutionising the idea of running a business! 

Leading with empathy! 

Women in leadership positions have been able to successfully blend empathy with strategic decision-making. They recognise that success is not merely numbers or profit margins, but instead, successful businesses are built by people and relationships. 
And so, we have businesses prioritising mental health, creating a more supportive and inclusive environment, having open-door policies and flat hierarchies, where each employee feels seen, their unique perspectives & voices heard. 
How does that convert to the bottom line? With new and unique ideas and problem-solving approaches! Marketing campaigns that truly speak to the masses without offending any section of the society or inviting backlash or boycotts! Unique solutions that are better in touch with the ground reality and solves real-world problems.
The same empathy gets extended to customer relations as well. Instead of viewing customers are mere transactions, they become long-time partners in the growth of the business. This shift ensures not only long-term loyalty but also the evolution of business, with new and innovative solutions to continue to solve real-world problems faced by its customers. 

Redefining Work-Life Balance 

Having known first-hand the struggles of meeting all the demands put on them, women in leadership positions are redefining the entire notion of hustle culture and severe burnouts that have otherwise become an integral part of traditional businesses. We, the women in business, are proudly pushing for more holistic approach to leadership, one that values mental health, personal fulfilment, and sustainable work practices.
And thus, we have businesses embracing flexible work options, more open to remote work options, and a range of policies that support working parents. These new models allow for employees and leaders to thrive in a fast-paced and challenging world. As per several industry studies and reports, when employees feel that their organisations understand and support work-life balance, they are like to be more productive, creative, and loyal to their organisations. 

Collaboration Over Competition 

For decades, the burgeoning business landscape has been viewed with a reductive “zero-sum lens” – where the gains of one company meant less for the other. Women in business leadership has completely overhauled this notion. As it is said, incredible things happen when women support each other! And today, we see an incredible rise in women-led mentoring programs, and industry-wide networking events, giving rise to unprecedented ways in which women are sharing resources, insights, social clout and more, in lifting each other. This gives rise to an ecosystem that is thriving and nurturing. More than just a feel-good factor, such collaborations have opened new markets and fostered and growth and innovation for businesses. 

Thus, women leaders and entrepreneurs are not only redefining the traditional and primitive ways of doing business, they are also inspiring the next generation of leaders and entrepreneurs to think differently! As we continue to break down the glass ceiling and wall, one innovation, one collaboration, one win at a time, the writing on the wall is clear: the future of business is female and it’s shining brighter than ever!

Authored by Yukti Nagpal, Director of Gulshan Group. Views expressed by the author are their own.