Just as the differences between man and woman can be compared to night and day, so are their managing styles. Men and woman have different values, different beliefs and different foundations hard-wired into their systems. These differentiate the styles of the business woman from the businessman. But just how different?
1) Women are more fiscally- conservative than men. Chances are, women will be more concerned about long term results than quick and easy money making schemes. They will tend to check on the product or service and nitpick at the details until everything is satisfactory to her standards. Women believe that a corporation founded on solid building blocks is more advantageous in the long run. This is usually credited to a woman and natural tendency for being akin to details and structure.
2) Women’s reasons for starting a business are usually less selfish than men. In a poll sponsored by NFWBO and Catalyst, a woman’s business organization, it has been found that women usually get into business because of combined social and economic purposes. They want to make a difference while earning a living. Men who were surveyed cited wealth on a personal level as their motivational factor.
3) Women’s businesses tend to exhibit a slower growth than men’s. Numerous studies have shown that woman-owned corporations are usually smaller and have slower growth rates than men’s. According to a research conducted by the SBA Office of Advocacy, the self-employed woman is more likely to earn half than what a self-employed man does. The reason for this may be attributed to numbers one and two mentioned above.
4) Women take fewer risks and therefore have less debt. Women are less likely to build a project or a corporation out of borrowed money. They are not fond of taking financial gambles and would like to keep things manageable and safe. Even if there is an increase of women with a bank credit, only 34% of these women have a figure that is over $50,000.
There might be several other reasons how a business woman steers her ship but this article does not claim anything. A man-run business can just be as good as a woman-run one. There are several other factors that contribute to the methods that cannot be all attributed to gender. There is economic landscape, location and circumstances. In the end, it’s still your decision making skills, ethics and character that makes a business successful. And it shouldn’t make a difference whether you are a business man or business woman because there is NAPW or National Association of Professional Women and also Association for Men.