Joanna Barsh – what an inspiration. After high fiving strangers to get my Engagement level up, hearing about her husband’s greatest skill being love (he likes to hug) and that being 23 out of 25 for her on a skill profile – I was enthused and bursting with excitement about leading. Joanna took us through her five steps to centered leadership in about 70 minutes, showing clips of her interviews with women leaders worldwide. Two steps in particular had great resonance. First, Meaning – having some greater relationship to the work one does. Joanna drew upon the research of some of the best thinkers in the area of happiness including Mihaly Csikszentmihalyi, whose pioneering work, “Flow: The Psychology of Optimal Experience” explores exactly the feeling of great absorption, engagement, fulfillment, and skill that one should experience when an activity has personal meaning for us. Joanna brought the concept of meaning to life by encouraging us to recall a peak vacation experience as a proxy for the sensation that meaning produces.

Framing was the other concept with particular resonance. After requesting that the audience all close their eyes, she surveyed for optimists and pessimists. Her exercise asking a self-proclaimed optimist and pessimist to describe a presentation in which a senior executive walks out on a junior colleague’s presentation perfectly demonstrated the range of meanings we bring to events, colored by our own inherent tendencies to see the glass as half empty or half full. Even with the realization that we bring our own story to neutral events, she counseled that we could practice a more constructive way of dealing with problem situations so that we avoided the spiraling sense of despair that thwarts so many talented people, particularly women.

Read her book How Remarkable Women Lead: The Breakthrough Model for Work and Life, and if you can, go see her speak. Joanna Barsh is a treat.

And visit the CWL web site for information on other great upcoming events free and open to the public.

Submitted by: Julia dePeyster, Assistant Director, The Center for Women’s Leadership at Babson

I just returned from the Center for Women’s Business Research Board meeting in Chicago which included a joint meeting with the Leadership Council.  As a researcher in women’s entrepreneurship, founder of the Diana Project,  and Division Chair of Entrepreneurship at Babson College, I was most heartened to learn of the progress that women business owners are making in growing their ventures. Three things got my attention:

First- we celebrated the new research study released by the Center about the impact of women business owners on the economy.  The research was sponsored by WalMart and for the first time, used a sophisticated and rigorous econometric forecasting tool, Implan.  The research was conducted by two high profile economists, Dr. Hassan Pordeli and Mr. Peter Wynkoop, who have used this methodology frequently in the past.  This study was based on a random geographic sample of women business owners and quantified the economic impact of women business owners.  The forecasting model showed that women created  $11.8 million jobs and are responsible for more than $1.2 trillion in sales.  This is very good news!

Second-the SMU forum for minority female entrepreneurs held in September was a smashing success! More than 120 women attended the Accelerating Growth Forum to discuss how to overcome their biggest challenges to business growth.   Participants gained insights into strategies and had the opportunity to network.

Finally, we had a great discussion about how the Center will use social media to expand and disseminate our research and connect women business owners around the country.  Lena West  of  Xyno Media led our discussion. A continuing success is the Center’s w-bizinsight panel where women business owners have the opportunity to share their opinions, successes and thoughts on current issues through this on-line survey.

After this exciting two day meeting, I am convinced that the opportunities for women business owners are better than ever!

Submitted by: Candida Brush, Chair, Entrepreneurship Division, Babson College and Vice-Chair, Research, Center for Women’s Business Research

At The Center For Women’s Leadership both undergraduate and MBA women students are paired with top local women business colleagues for a yearlong mentoring program.  What have we found? First, three cheers for women’s ability to hold meaningful conversations in all kinds of situations with colleagues from a variety of nationalities and business backgrounds. The culture of openness that this fosters allows our mentors and students to bond rapidly and move quickly to important topics, even in the first encounter.  Fluid integration has been particularly important this year as we incorporate new mentors through a partnership with The Boston Club. Secondly, the self-awareness these women bring to the program really helps them in the context of mentoring.  Much emphasis is placed on two-way mentoring.  Self-awareness helps each member of the pair share more and leads to students and mentors both giving and gaining more in the relationship.  Third, women are highly aware of their pasts and their futures. They think about implications and options and are willing to ask for feedback.  Lastly, women are clear that their careers will move in flexible and often surprising ways. While this is a driven bunch, their driven-ness is not at the expense of curiosity, questioning, playfulness and excitement. All in all this provides for lively discussion, a genuine interest in skills development and growth and a willingness to give honest and frank feedback to help others succeed. 

Submitted by: Julia dePeyster, Assistant Director, The Center for Women’s Leadership at Babson

It is time for some good news.   Many of us were downhearted in July 2007 when we read Catalyst’s latest publication, “The Double Bind Dilemma for Women in Leadership: Damned if you do, Doomed if You Don’t.” [1]  That piece presented research from two Catalyst studies that looked at perceptions of women’s leadership among very senior U.S. and European business executives and found that stereotypes not only endure but they are pervasive across cultures.  The predominant stereotype was that women leaders are better at “taking care” and men are better at “taking charge.”  

The research carefully notes that “these perceptions are not supported by research on actual leadership behavior, which finds that gender is not (the italics are mine) a reliable predictor of how a person will lead.” But we all know that perception is reality, or at the very least, is likely to shape important outcomes.

But wait, there is really good news from another quarter!  [2]  Two professors at Insead, the premier business school in Europe, reported it in a January 2009 article in Harvard Business Review called “Women & the Vision Thing.”  Based on a database of 360-degree assessments for thousands of executive education participants (they call this the Global Executive Leadership Inventory), they found that “female leaders received higher ratings than male leaders in most dimensions of leadership.”

Let us just stop and savor this for a moment.  This means that their bosses, their subordinates and their peers – both men and women — rated the women higher than the men on dimensions that included: 

·         Empowering

·         Energizing

·         Designing & aligning

·         Rewarding & feedback

·         Team-building

·         Outside orientation

·         Global mindset

·         Tenacity

·         Emotional intelligence

And there is only the tiniest bit of negative news in their research: on only one dimension and only by one set of observers were women  rated lower than men!  Stop again and savor.  Now proceed.  While the bosses and subordinates (male and female) of these people scored women as higher than men on their envisioning capabilities, the male peers of these people viewed men as slightly higher than women.  This, of course, seems predictable as competitive posturing, right? 

So, my friends, take heart.  The news is indeed good. Finally, your talents are being seen through the miasma of prejudice and stereotypes. But let us keep in mind that, as the authors of the study caution, “this envisioning dimension is, for most observers, a must-have capability.” 

I recently shared this research with women who have participated in Babson’s very own Executive Education program on Women’s Leadership that we call “Moving from Managing to Leading.” I wrapped up by encapsulating the collective wisdom from my several colleagues who teach in the program: to move from managing to leading, (this is, to be seen as a visionary leader), one needs to

• Articulate opportunities and threats in the environment.
• Articulate strategic direction through this environment.
• Acknowledge and explain how you will manage the risks to get the rewards of this strategy.
• Be decisive (and resilient: expect some to be wrong and let go of those like your male colleagues do – learning is ‘trial and ERROR,’ remember)
• Inspire all your constituents
• Deliver results
• Articulate the linkage among all the above and claim credit for what you do

Take heart and have fun with this. 

Submitted by: Anne Donnellon, Associate Professor and Faculty Director for Babson’s Fast Track MBA Program

Babson College was recently recognized in the latest issue (Aug.Sept.Oct. 2009) of Pink Magazine as one of their favorite picks for our efforts to reach out to women.  In addition to Babson’s Fast Track MBA, the article highlighted five other programs for executives—University of Pennsylvania (Wharton), University of Michigan (Ross), NewYork University (Stern), Emory University (Goizueta) and Pepperdine Universit(Graziadio).  Since featured in the article, the F.W. Olin Graduate School of Business has actually improved the percentage of women in the program.  While the article listed the percentage of women in the program at 21.6%, last week’s Fast Track Kick Off brought that number up to 29%–our highest ever!

When interviewed, Jan Shubert, Director of the Center for Women’s Leadership, highlighted the integrated curriculum and the focus on entrepreneurial thinking that all Fast Track students receive.  The Fast Track MBA matched the schools in all areas with one noticeable exception—the price tag!  While other programs cost upwards of $90,000 (and some into the $150,000 range), Babson’s Fast Track MBA cost $56,000—just another example of the great value that the program continues to deliver. 

Submitted by: Allyssa Bates

I had the great privilege and pleasure of having breakfast last week with the new administrator of the Small Business Administration (SBA), Karen Mills.  The breakfast was for a board on which I serve, the national advisory board to the SBA for the SBDC program.  This was our first meeting with Administrator Mills to hear her thoughts and learn more about her plans for the agency and her expectations for our board.  The current SBA situation actually reminds me of Babson’s situation over the past few years, or at least I think I see some parallels.  First, both in the world of government and the world of business academia, people finally are realizing the leading edge importance of entrepreneurship and small business.  This is the world in which we live - some of it driven by economics and some by lifestyle choice, and most by some combination of the two.   (After all, take a look at the GEM data on opportunity and necessity entrepreneurship around the world).  Second, both the government and academic arenas are recognizing the constraints of silos.  This has certainly been Babson’s song for some time, but the increasing emphasis in our federal government on collaboration and coordination - all learning from each other - is quite exciting.  Can it really work?  All digits crossed on this end.

Submitted by: Patti Greene, Professor of Entrepreneurship, Babson College

If you are a regular follower of events and activities at Babson’s Center for Women’s Leadership, you already know that for the first time in a dozen years (even longer if you count the amazing student-run conferences back in the days when) we will not be holding our Annual Women’s Leadership Conference this autumn. Why? What’s going on?

Late January 2009, we began our usual discussions with sponsors, with supporters and with potential speakers. We quickly discovered just how deeply the economic downturn affected their ability to make commitments. Even organizations that were in strong or at least stable shape, financially, still faced the difficult challenge of employees, customers and suppliers that were unsure, even frightened.

Because of the exceptionally strong relationships we’ve developed with these organizations over the years, this just wasn’t something we could blow off with a “Well, everyone’s in the same boat” attitude. So in the space of one intense staff meeting/brainstorming session we went from trying to figure out ways to get support, to finding ways to give back something to these amazing organizations who have been there with us and for us for so many years. What follows is the intro to the message we then sent to fourteen organizations:

Our Gift To Our Conference Sponsors and Supporters: The 2009 Women’s Leadership “Thank-You”Mini-Conferences…Rather than make 2009 another year of asking you for your sponsorship or to support women attending our Annual Women’s Leadership Conference, we want to make this the year for telling you “Thank You.” Thank you for everything you have done in years past to support CWL, to make our Conferences so successful and for publically underscoring your strong commitment to employing and developing talented women.

So far, ten have contacted us—mostly in amazement—and certainly in gratitude for reaching out to them during tight times. Eight are in the process of working with us to create these Thank-You Mini-Conferences, to be delivered on-site, at their organizations, free of charge.

In the meantime, we’re also hosting a dynamic set of programs and events that, while they can’t ever replace the buzz of our Conference, will give hundreds of women opportunities to explore cutting-edge issues, meet experts and continue the CWL tradition of building strong and lasting relationships.

In some ways, this was a tough decision. In others, we felt like it was really a no-brainer. What’s your view?

Submitted by: Janelle Shubert, Director, The Center for Women’s Leadership

At Babson, for the past two weeks, 30 young Saudi women have descended on our campus, eager to engage and learn about social entrepreneurship. Their mission-to develop a new social venture -one that is SUSTAINABLE, FUNDABLE ($$) and EXECUTABLE within the confines of their culture and society.

It hasn’t been easy.

These thirty girls came together from different backgrounds (Moroccan, Eritrea, Sudanese, Lebanese, Jordanian), social class (from real Saudi royalty to scholarship students) and with a range of Islamic beliefs. Some came with a social vision/idea they had developed in the first forum; some were seeking a new cause. 

Over two weeks, they formed new working teams–, disbanded these teams, regrouped with new members and ideas–, argued passionately, experienced indigestion from too much pizza, cried, laughed and, in the end, finally listened and accepted one another. 

They coalesced around six ideas, ranging from a Jeddah recycling center to micro loans and business training for hearing impaired women.  Business plans were outlined; key stakeholders identified and by the last day, most had contacted financial backers for support.

On Friday, July 24, these wonderful, sometimes exasperating, women, finally presented their ideas. Six INSPIRATIONAL visions and plans later, they broke through my professional cynicism, and heart. In the end, they led.

If one drop of water can move a lake, what will 30 drops of this passion form? Can they harness real change in their society?  In Sha Allah (if God is willing), they can.

Submitted by: Victoria Sassine

                    Finance, Babson College

I have been so fortunate in my life and career to have had the benefit of some tremendous mentors over the years.  Although I consider myself a lifelong student, there does come a point when you have amassed a lot of knowledge, information, contacts, and experience that can be shared with others as well. It has been such an honor to be asked to mentor others along my journey as an entrepreneur, business owner, daughter, wife, and Board member. 
 
As one of the CWL mentors these past several years I have met some of the most amazing women. Each year I question whether I have really been helpful to these sophisticated, mature, passionate MBAs because I feel I get so much energy and perspective from them and can only hope I have left as favorable an impression. Like all the mentors, my schedule ranges from chaotic to insanely busy to how can I squeeze in just one more meeting on any given day.  Everyone is so busy and time starved so why make the time?  Well for me that’s easy, I do it because I think it matters. I am a better leader, CEO, and person because of the wisdom my mentors have passed on to me, and I hope to be part of that continuum so that those who follow are even better equipped for the complexities of the world.  None of us will live long enough as is so anything we can each do to contribute to the knowledge and karma bank so that others do not waste time making the same mistakes we did will make the world a better place. 

What’s the saying…if you have something that really needs to get done, then give it to a busy person!  Well I’ll add that each and every one of us has a gift, something we can share with others. So the next time you have an opportunity to be a mentor, no matter how little time you have in your schedule, I suggest you say YES! and I’ll bet you get more from that experience than you can ever imagine.  What a gift indeed to meet wonderful people, share your best advice, hopes and dreams so that we advance the conversation to new and higher levels with every interaction.  

To my mentors and mentees past and future, thanks for your strength, support, and friendship that have made my life so full!

Submitted by: Paige Arnof-Fenn, founder and CEO of Mavens and Moguls, a strategic marketing firm 
 

Cece Sutton, new President of the Retail Banking Group at Morgan Stanley and Liz Smith, longtime President of Avon addressed the crowd of young MBA women attending the Dialogue with Leadership session that Babson’s Center For Women’s Leadership sponsored at the Forte Foundation Conference in New York this past Friday.  Interviewed by Patricia Sellers, Editor at Large at Fortune, these women were candid, smart, funny and very self-effacing.  Words of wisdom? Yes – these two veterans of  Fortune’s 50 Most Powerful Women in Business List addressed topics from mentors they’ve had to juggling home and career.   

On the topic of mentors – enthusiasm and passion for what you do – these were the top characteristics that both women stated were keys to having mentors pick you and help you in your career.  Connecting with mentors on subjects that excite you will sustain the relationship and allow it to blossom.  Don’t necessarily target mentors who are even on your career path – you will learn a lot from solid, confident business people regardless of their current role.   How do you keep relationships going with people you might pass on your way up the ladder? Honesty, collaboration and hard work were cited as characteristics that would foster bonds with prior peers and bosses whom you now have to manage. And speaking of ladders, Moderator Sellers asked us all to consider the path upward more like a jungle gym than a ladder – with lateral and even backward moves to keep a career engaging and fulfilling.

On work/life balance, they were very frank.  Sutton counseled realism if you are going to the top - know what the job entails and make sure it’s a place you want to go because it is not easy.  With grown children, she felt she was now more able to really reach in her career. Although she shared that she might not always have work/life balance, she adds it back into her life with hobbies and downtime.   Her suggestion? Find an outlet like horses (her passion) or gardening to give you a release. To keep on top of family commitments, calendar key home events like they were a meeting with your boss.  “Family comes first for me,” said Liz Smith who has 2 school-aged children.  That being said, she was realistic about the challenges of the “juggle” and shared a recent story about landing in LaGuardia with her 2 kids and immediately changing in the ladies room for a speech that night, all the while thinking “hope I don’t see anyone I  know in here!” 

Lastly, on the topic of who these women were hiring to meet current marketplace challenges – agility was top of the list along with the ability to function well in ambiguity and admit that you don’t have all the answers.  To paraphrase Liz Smith, the business world has moved from “strategic planning to scenario planning” and people who think in terms of contingencies will come out ahead. 

These words were inspirational to a crowd of young women who were taking on the work world with gusto and wondering how it all plays out down the road.  Best advice from the veterans?  Focus on making what you are doing now a success – this effort will create the next step upwards for you.  Future planning is great, but you may miss the random and unexpected opportunity that vaults you upward if your path is planned out too far ahead.

Submitted by: Julia de Peyster, Assistant Director, The Center for Women’s Leadership at Babson