Reasearch Report
I have decided to write my report on the female manager, identifying three women who are presidents or CEO’s of companies listed on the New York Stock Exchange, providing information on their background and how they made it to the top.
The first female I wanted to talk about is Muriel Siebert. She is currently CEO of Siebert Financial Corporation. She has had a chair on the National Women's Business Council and she made history as the first woman to buy a seat on the New York Stock Exchange in 1967. I hope she fits in the category, because I think this lady is wonderful. Muriel Siebert has been called "The First Woman of Finance." Among other firsts, she is the first woman to own a seat on the New York Stock Exchange and the first to head one of its member firms, Muriel Siebert & Co., Inc. She took a leave from her firm in 1977 to serve five years as the first woman Superintendent of Banking for the State of New York. She is known as an outspoken speaker who pulls no punches in lectures, panels and talk shows. She often exhorts industry to utilize women more aggressively. "American business will find that women executives can be a strong competitive weapon against Japan and Germany and other countries that still limit their executive talent pool to the male 50 percent of their population."
Muriel Siebert has advised, "The men of the top of industry and government should be more willing to risk sharing leadership with women and minority members who are not merely clones of their white male buddies. In these fast-changing times we need the different viewpoints and experiences, we need the enlarged talent bank. The real risk lies in continuing to do things the way they've always been done."
Muriel Siebert not only proves what she preaches, but she practices it too. Her best-known gamble made historic waves in 1967 when she applied to become the first woman member of the New York Stock Exchange. Although she had risen to a partnership in a leading Wall Street brokerage firm and had made big money for colleagues, her effort was patronized, ridiculed or openly opposed by many men on Wall Street. She was turned down by nine of the first ten men she asked to sponsor her application.
Before considering her for membership, the Stock Exchange imposed a new condition: she needed a letter from a bank saying they would lend her $300,000 of the near-record $445,000 seat price.
This article describes the sexism that the author, Sam Polk, witnessed while working on Wall Street and how he believes it affects the women working there. The article comments that there was, and is, a great deal of sexism in the workplace, specifically on Wall Street. Polk describes that sexist comments about female coworkers are how he would bond with his male coworkers when women were not present. Polk discusses how he feels that this way of speaking about women contributes to the fact that women on Wall Street do not hold high-level positions. This article suggests that the general attitude men on Wall Street about women, as described by Polk, might contribute to the overt sexism that is reported by women working on Wall Street. This
Nemko, Marty. "The Real Reason So Few Women Are in the Boardroom." Martynemko.com. N.p., n.d. Web. 6 Mar. 2014.
Gender bias is very common in the corporate world. Throughout history, males have been dominant in the workforce, whereas women have been excluded. Currently, only 4.6 percent of the Fortune 500 CEOs are women. In Harper Lee’s To Kill a Mockingbird, women rarely even work outside of the house. In this novel, Harper Lee shows the differences between the roles of males and females, specifically the distinctions between occupations and social values in the 1930s.
Unfortunately, even today, women are still trying to prove themselves equal to men in many ways. The “glass ceiling” is perhaps one of the most familiar and evocative metaphors to surface from the 20th century. This expression has been used widely in the popular media as well as in official government reports. The image suggest that although it may be the case now that women are able to get through the front door professional hierarchies, at some point they hit an invisible barrier that blocks any further upward movement. “Below this barrier, women are able to get promoted; beyond this barrier, they are not”. Such a situation can be considered a limiting case for a more general phenomenon: situations in which the disadvantages women face relative to men strengthen as they move up executive hierarches. “Traditional approaches to recruitment, organization and job design, performance management and promotions are often designed in ways that are more suited to men than to women. This is what creates the glass ceiling”. Beyond the limit of job titles, the glass ceiling also creates a pay difference between men and women performing the same work requirements.
As we look around at our women in today’s era, we might ask how did she become so independent, successful, and confidant? Even when I look at my own my mom, she was hired as the first woman to work as a manager at a fortune 500 business, and then created her own business. As well as my friends’ mom, who also has her own business in psychology; accomplishments like these must have originated from somewhere. The answer lies in the 1920’s. A couple years earlier, World War I was waging havoc, killing many men, while allowing women more freedom. The effects of World War I gave birth to the new women, also known as the Flappers, and inspiration for the 19th amendment. The flappers stirred up traditions and launched a new way of living. It soon became very apparent that the new women of the 1920’s helped redefine the social norms of society.
In the American society, we constantly hear people make sure they say that a chief executive officer, a racecar driver, or an astronaut is female when they are so because that is not deemed as stereotypically standard. Sheryl Sandberg is the, dare I say it, female chief operating officer of Facebook while Mark Zuckerberg is the chief executive officer. Notice that the word “female” sounds much more natural in front of an executive position, but you would typically not add male in front of an executive position because it is just implied. The fact that most of America and the world makes this distinction shows that there are too few women leaders. In Sheryl Sandberg’s book “Lean In,” she explains why that is and what can be done to change that by discussing women, work, and the will to lead.
Women have long participated in American business, and their roles have greatly changed. The jobs that women held at first were considered simple and feminine. Many were secretaries, office helpers, or assistants to male executives. Some women were known as the earlier entrepreneurs, the traditionals (Emmott, 521). Traditionals were usually sole proprietors who extended domestic services and related skills into the marketplace. These women entrepreneurs opened the way to new horizons for other women in the workplace for future years.
To begin with, there are many events in United States history that have shaped our general understanding of women’s involvement in economics, politics, the debates of gender and sexuality, and so forth. Women for many centuries have not been seen as a significant part of history, however under thorough analyzation of certain events, there are many women and woman-based events responsible for the progressiveness we experience in our daily lives as men, women, children, and individuals altogether. Many of these events aid people today to reflect on the treatment of current individuals today and to raise awareness to significant issues that were not resolved or acknowledged in the past.
Frier, Sarah, and Carol Hymowitz. "Women CFOs Reach Record Level in U.S. as Top Job Remains Elusive." Bloomberg.com. Bloomberg, 5 Feb. 2013. Web. 18 May 2014. .
Consequently, the policies of companies that employ women can have a positive or negative effect on their households, career advancement and earning potential, as well as the lives of those that depend on them. Mary Van der Boon (2003) in her article titled, “Women in international management: An international perspective on women’s ways of leadership”, descri...
Managing diverse groups to achieve a cohesive philosophy and consistency of performance is what is required of today’s corporate leader. Evidence shows that women and men are as adept, or as bad, as each other at responding to this challenge.
Gender Diversity has been considered a key issue in the Corporate Governance and the details about how the organizations have worked on improving the women’s representation in the Boardroom composition has also been discussed. Several examples have been given about the board room composition of various companies and the number of female professionals in it.
Another target populations, has been the “glass ceiling,” or invisible barrier, that keeps women and minorities from attaining top jobs. While the ideal of equal opportunity is espoused, it is far from a reality. Women and minorities continue to “peak out” at a low level of management. Kelborn (1995) (pg.
Today , we can find a great number of business women, who have made their mark in the society by
Women leaders have the crucial soft skills of empathy, innovation, facilitation, and active listening (Masaoka, 2006). They also have first-hand life experiences that bring technical skills and experiences from the street level to the workplace (Masoka, 2006). Women often build stronger relationships with clients and outside contacts than their male counterparts. This relationship building skill, provides a key aspect which helps to move businesses forward (Giber et al., 2009). Fortune 500 companies with a high percentage of women significantly outperformed those with fewer women. Companies with the highest representation of women showed higher returns on equity than those with fewer women employees (Giber et al., 2009). Thus, future organizations may have a higher percentage of female leaders than we have experienced in the past. Future leaders must ensure that there is equality among the workforce and that women are accurately represented among the