Women Leaders in Business
Welcome to the 2023/2024 Women In Business Blog!
I am Adelina, WIB’s Blog Writer for the 2023/2024 year. I am going into my fifth year in Finance with a minor in Psychology. I found my passion for writing after taking a creative nonfiction writing class in my second year at the University of Alberta. The professor was so inspiring and encouraging that I found myself tapping into vast areas of my creativity. Captivated by this incredible professor, I decided to take the creative fiction writing course with him the following year, which I encourage everyone to do – if you have the opportunity.
Now, as my journey from one creative writing class to the next comes to an end, I am excited to be taking over for the previous Blog Writer, Pranjal, and inspired by the work of WIB’s past bloggers. For this summer season of the WIB Blog, I am excited to introduce a few articles surrounding the topics of empowerment, confidence, and personal growth, which WIB strives to provide its members. Moreover, I would like to take a moment to think about the new roles we as students take on for the summer; whether it is embracing the exciting internship opportunity, volunteering with a passionate team, or continuing to improve ourselves in various ways, we take the lead.
For the first blog, let’s dive into some incredible female leaders in business who have taken over crucial positions in their corporations and have been impressively and inspirationally successful. For each female leader, I will touch on their background and skill set, allowing myself and you, WIB’s fellow readers, to understand their strengths in being successful leaders and, inevitably, empower ourselves to integrate their qualities and styles into our roles.
To understand the impact of these female leaders on the business world, I will guide you through some unconventional questions. But, don’t worry, none of these questions will be on your next interview… hopefully. Do you usually go for Lay's or Doritos in a world with a diverse range of options? Or are you more of a Cheetos-Gal? Indeed, no other brand of sports drink tastes as refreshing as an ice-cold Gatorade. Could you prove me wrong? Tell me about your day at the office; did you count how many times you went back and forth to the Xerox machine? Did you remember to update your Facebook profile to “In A Relationship… with my textbooks?” Speaking of textbooks, I know how important it is to embrace technological advancement and innovative tools in the business world. So, did you use the Watson Code Assistant to pass your computer science course? Oh! Look at the time. Don’t forget to charge your Chevy EV, or you might be late to your date again!
Considering the questions and prompts above, there are various products and services the majority of people utilize daily. For instance, enjoying popular snacks and drinks, taking advantage of different communication platforms and online tools, and investing in leading electric cars for optimal usage. So, what do PepsiCo, General Motors, Facebook, IBM, and Xerox have in common? The extraordinary women who have successfully led these corporations, progressing the companies to unimaginable levels. All these women have tapped into their abilities to overcome immense amounts of adversity, adapting to the ever-changing trends and environments of the natural and corporate world.
Now, how did they do it?
PepsiCo: Indra Nooyi
Indra Nooyi served as PepsiCo’s CEO for 12 years, stepping down in 2019. As the CEO, she introduced healthier options in the company, improved the quality of the products, and moved away from junk foods, as PepsiCo seemed to be known for. Along with creating healthier options, Nooyi initiated a more environmentally friendly and sustainable product packaging process. Indeed, all these steps have drastically advanced PepsiCo, and the company’s sales increased by 80% due to Nooyi’s leadership.
Her secret? The advice she received when starting off her career was from her long-time teacher and supporter, Gerhard Schulmeyer, who was in charge of Motorola’s automotive electronics division. He encouraged her to “simplify complex problems and to communicate them effectively.” The advice became her skill because she could easily solve pressing problems by becoming a student, understanding the issue in simple terms, and coming up with a solution. Unquestionably, this is a practical skill as it allows anyone to comprehend the matter at hand, promotes efficient problem-solving, and fosters better collaboration and communication between individuals in a team.
From these takeaways, we can conclude that Nooyi is a visionary leader. She looks at the long-term goals and how she can focus on global expansion while focusing on diversity and inclusion. Moreover, to be a visionary leader, one must possess a clear and inspiring direction for the future in addition to having defined goals to manoeuvre through upcoming trends, challenges, and opportunities while empowering peers to utilize forward-thinking and build stronger teams. Thus, drawing from Nooyi’s wealth of experience, she advises that cultivating unique competence sets you apart and enhances your value in industries filled with talented individuals.
General Motors: Mary Barra
Mary Barra is currently the CEO of General Motors (GM) and has been since 2014. Impressively, among all the three big automakers in the United States, she is the first woman to lead one of them. So far in her leadership role, she has led the corporation to be one of two global businesses with no gender pay gap. Furthermore, during the rise of COVID-19, in the spring of 2020, GM’s product lines began to assist in producing ventilators for an innovative respiratory care company, Ventec Life Systems. Barra shifted GM’s attention to a more critical issue since there was a severe shortage and need for ventilators.
Barra has been successful in this position due to her perseverance while focusing on pursuing her goals and the company’s. Moreover, she is largely viewed as a transformational leader, inspiring and motivating her employees since everyone should feel valued within the company, improving the team's performance. Another trick to her leadership style is how she pays attention to organization, integrity, and, most importantly, relationship management. She believes a more collaborative approach allows for seamless decision-making processes. Subsequently, by placing the employees’ and customers’ needs first, GM provides a safe product that establishes loyal customers for the long run.
Facebook: Sheryl Sandberg
Sheryl Sandberg has been the Chief Operating Officer at Facebook for the last 14 years and counting. In Facebook’s earlier years, the company needed a leader with experience in management, and Sandberg was the perfect fit. Undoubtedly, she has excelled in the position ever since, supervising the company’s daily operations. Apart from being the COO of Facebook, Sandberg is known for advocating for women’s success in the business world. Her advice may not be relevant to all, however, she has skills we as students can leverage.
One particular skill includes using your voice and standing your ground because you are valuable, alongside your time and effort. Also, Sandberg emphasizes strong communication and teamwork. She has a collaborative leadership style, which means it is vital to update your team on the projects you are directing, so everyone is aware of what is happening at all times. By focusing on teamwork, Sandberg believes anyone can build strong relationships, which we all know is paramount in business.
IBM: Ginni Rometty
A prominent figure in the technology industry has previously led International Business Machines, also known as IBM. Who is this figure, one may wonder? Ginni Rometty - the former CEO of IBM. During her time with IBM, she focused on long-term goals and setting initiatives for the company to grow, which inevitably meant a lower return on revenue, especially to investors. Subsequently, in her eight years of reign at IBM, the company’s annual revenues from investments were nine billion dollars. Of course, many may see this revenue number as hitting goals. Unfortunately, Rometty’s repositioning strategy of the company never allowed for revenues to recover and grow.
Nonetheless, individuals, notably students, can learn from Rometty’s experience as a leader for IBM. She demonstrates how not to take criticism to heart and that it is okay if your vision differs from others. Furthermore, her strategic leadership approach imparts valuable lessons, emphasising the importance of honesty, prioritizing understanding how processes are executed over focusing solely on why, and recognizing the significance of seeking assistance when needed.
Lastly, Rometty discusses how growth and comfort cannot coexist. To grow, you must become uncomfortable; by being uncomfortable, you gain experience and learn to adapt. No wonder a saying goes, “get out of your comfort zone.” So, do it! However, if you, as a student, ever feel lost or helpless, don’t forget that there is support all around you; whether it is your mentors, leaders, bosses, friends, or family, someone always has your back.
Xerox: Ursula Burns
Have you heard of the first African American woman to lead a Fortune 500 company? Well, her name is Ursula Burns. She led the company for nearly six years and officially retired from the position in 2016. Not only did Burns assist in generating billions of dollars in revenue, but she managed to head Xerox’s largest acquisition in history - a $6.4 billion deal, acquiring Affiliated Computer Services, an outsourcing consulting company. In 2016, Burns successfully decided and led a separation of Xerox. The separation referred to Xerox splitting into two independent, publicly traded companies, Document Technology and Document Outsourcing businesses, and Conduent Incorporated, a services company for business processing.
Undoubtedly, Burns's charismatic leadership exemplifies the importance of having a persuasive presence and exuding confidence. A compelling presence is essential for leaders to communicate their visions, ideas, and goals to others. As Burns demonstrates her remarkable capability to accomplish deals that may appear insurmountable, intimidating, or demanding, her persuasive presence serves as a catalyst for inspiring and influencing team members, stakeholders, and even customers. This becomes particularly crucial when assuming critical leadership roles or undertaking significant projects.
The Blueprint to Be a Successful Leader
So, what can we take from these female leaders? You should start with analyzing and setting clear goals for yourself that inspire you and help you stay on track. Indra Nooyi’s visionary leadership teaches us this while encouraging us to simplify complex matters and bring value anywhere we find ourselves. The transformational leadership style of GM’s Mary Barra reinforces the importance of teamwork and focusing on customer relationships. We, as students, know the importance of networking, and building relationships is part of it.
Furthermore, looking at Facebook’s Sheryl Sandberg, her collaborative leadership presents us with the skill to use our voice and stand our ground. Regardless of the circumstances, it is essential to ensure no one undermines your worth, as every experience provides an opportunity to grow in self-assurance and recognize the importance of advocating for fair treatment. Along the same lines, Ginny Rommetty teaches us not to take criticism to heart while understanding that we can control anything through resiliency and attitude; we get this from her strategic leadership style. Lastly, we learn how to be a charismatic leader from Xerox's previous CEO, Ursula Burns. A charismatic leader with a persuasive presence allows strong connections to be forged and visions to be realized.
Therefore, success varies for everyone, and depending on your strengths and what industry you are in, you may leverage one particular skill or strength more than others. As students, who are merely entering the intense corporate world, we have the room to try new tactics, adapt fresh ways of thinking, and not be afraid of failing. All these women are successful in their leadership positions and industries because they have years of experience, each with their own unique journey. So, do not overthink or stress too much about it. As students, we have time to choose, adapt, and perfect our leadership, which best suits our vision and personalities.