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Critical Success Factors for Women Leaders

Critical Success Factors for Women Leaders. Sara N. King WithIt February 28, 2013. Today’s Objectives. Identify how you add value: signature strengths. Identify how you get in your own way. Identify what needs developing Commit to two things you can work on in the next six months.

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Critical Success Factors for Women Leaders

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  1. Critical SuccessFactors for WomenLeaders Sara N. King WithIt February 28, 2013

  2. Today’s Objectives Identify how you add value: signature strengths Identify how you get in your own way Identify what needs developing Commit to two things you can work on in the next six months

  3. Overall Impact • Increased Self-Awareness • Increased Confidence • Larger Network • Increased Sense of Purpose and Direction

  4. Success Factors DerailmentFactors Leadership Vision Navigating Politics Relationships/Networks

  5. Context Matters

  6. “The Female Economy” Harvard Business Review, Sept 2009 Women control about $20 trillion in annual consumer spending • Women as decision makers • 94% of home furnishings 92% of vacations 91% of homes60% of automobiles 51% of electronics Working women are about to surpass the number of working men

  7. Companies with higher numbers of female senior executives are correlated with better organizational and financial performance. The McKinsey Quarterly, September 2008

  8. UC at Davis: “Companies with women in top leadership positions have stronger relationships with customers and shareholders and a more diverse and profitable business.” - Shipman and Kay, Womenomics, 2009 • Pepperdine Study: • “By every measure of profitability-equity, revenue, and assets—companies with the best records for promoting women outperform the competition.” • Catalyst: “Companies with the highest representation of women in senior management positions performed best. They had a higher return on equity and higher total return to shareholders.”

  9. “ The company that finds the right formula to get the most out of the talent base. That’s the company that’s going to win. That’s the company that will be distinct. And nowhere is that more true than with women. Samuel DiPiazzaGlobal CEO, PwC ”

  10. “ ” • Brian L. Roberts • Chairman and CEO • Comcast Corporation Women play a critical role at Comcast and in our industry.  They are creating new technologies, spear-heading product development, communicating with investors, customers and the communities we serve.  I am very proud of the impact and contribution that women make to our company.

  11. “ ” • John Chambers • Chairman and CEO • Cisco I am very proud of the difference that our entire diverse workforce has made here at Cisco. For example, we have several very influential female leaders who continue to raise the bar and set a new standard not just for Cisco, but across the entire technology sector. They not only drive unprecedented teamwork and collaboration across every level of our organization, but they are remarkable at getting results. Many are mothers, mentors and activists and they inspire all of us to make an impact in our workplace and our communities.

  12. Question? In Your Industry/Organization: • What positive change have you seen for women in the past five years? • What hasn’t changed as much as you would like?

  13. Defining Success and Derailment Success Factor • Your Strengths • Your Value • Your Brand Derailment Factor • A Weakness that Limits Your Opportunities

  14. Successful Executives–Men and Women Executive Presence Adaptable; learned from experience Solved problems Established strongrelationships Took risks Ambitious Could build andlead teams Intelligent Met business objectives CCL Research-Breaking the Glass Ceiling

  15. Derailed Executives–Men and Women Too narrow a functional orientation Unable to build and lead a team Unable to develop or adapt Unable to meet business objectives Unable to establish good working relationships

  16. Results Matter

  17. Successful Women vs. Successful Men Successful women werecited more frequently as: Having had help from above Being easy to be with Being able to adapt Taking career risks Being tough, decisive, demanding Having the desire to succeed Having an impressive image

  18. Derailed Women compared to Derailed Men Derailed women were more often said to: Have a poor image Have too narrow of an experience base Be too ambitious/want too much And they are less often said to: Have poor relationships

  19. Implications: The Narrow Band Be toughand demanding and easy to be with

  20. Implications: The Narrow Band Have thedesire tosucceed but don’tbe tooambitious

  21. Implications: The Narrow Band Be self reliant and lean onthose above

  22. Implications: The Narrow Band Take risks but don’t fail

  23. Summary (Research + Experience) Strengths: • Achieves Results • Adaptable • Collaborative • Ambitious • Resourceful • Team Builder • Has Values and Integrity • Seeks Mentors Weaknesses: • Confident • Resilient • Visionary • Strategic Thinker • Manages Career Effectively • Navigates Politics • Negotiates • Strong Networks

  24. Other Commentary Too Much Adaptability Not Enough Recognition/Sponsorship Lack of Right Experiences Higher Expectations

  25. Overall Impact

  26. Mini-Summary Know your strengths and capitalize on them Verify these strengths with others Be willing to promote your strengths Address the derailment factor right away Ask for development opportunities Allow your strengths to increase confidence

  27. King, Altman, Lee Discovering the Leader in You, 2011 “Your leadershipvision is anexpression of whatyou want to create,do, or accomplishwhen you are in aleadership role.”

  28. The Importanceof Having Vision of 146 chief executives believe that 75% developing and communicatinga strong and compelling vision is the most importantfactorfor executive success Corey Criswell, CCL Research, 2008

  29. Outcomes Leaders who are better ableto communicate a strong visionhave employees who are more satisfied with their organization. Corey Criswell, CCL Research, 2008

  30. Outcomes Leaders who are better ableto communicate a strong visionare perceived by their employeesas beingmore effectiveleaders. Corey Criswell, CCL Research, 2008

  31. Examination of thousandsof 360-degree assessmentscomparing men and women found that women outshonemen in the majority of leadership dimensions. “Women and the Vision Thing” Ibarra and Obodaru Harvard Business Review, January 2009

  32. The One Competency Envisioning: Articulating a compelling vision, mission and strategy “Women and the Vision Thing” Ibarra and Obodaru Harvard Business Review, January 2009

  33. Your Leadership Vision Activity What is your leadership vision? What are you trying to accomplish that is important and meaningful to you?

  34. Your Leadership Vision Activity What is your leadership vision? Examples: • #1 in the market for… • The place to come for… • Providing excellent customer service • Capturing a new market • Developing leadership potential in others • Decreasing organizational inefficiencies • Best sales team in the east

  35. Drafting Your Leadership Vision In your work: • What motivates you? • What is meaningful to you? • What do you value the most? • How do you spend your time? • Where do you see the biggest need? • What comes easy to you? • What are you trying to accomplish? • What future picture does it create?

  36. Mini-Summary Utilize your vision to provide focus and prioritization Utilize your vision to help measure your impact Utilize your vision to help engage and excite others Communicate your vision in different ways with different groups to build alignment and commitment. Revisit your vision often to incorporate any new information

  37. Navigating the Political Environment

  38. What sets apart a leader who is politically skilled from one who isn’t? If you have political skill, you appear not to have it. Truly skillful execution of the behaviorsassociated with politics is usually perceived as genuine, authentic, straightforward and effective. Leaders who are not politically skilled come off as manipulative or self-serving. “ ” • Gerald Ferris • Florida State University • Political Skill At Work, 2005

  39. Politically Skilled Leaders Use these six behaviors: • Interpersonal Influence (strong relationships) • Networking (reciprocal relationships) • Managing Up (make the boss relationship a priority) • Sincerity(authenticity andgenuineness) • Social Astuteness(perceptive observers) • Think before Speaking (impulse control) • Ferris and CCL Research

  40. Mini-Summary Reconsider your mindset about politics Outline how you might use these six behaviors more effectively Observe individuals who excel at these behaviors Discuss with someone who holds a lot of political clout

  41. Assessing and StrengtheningYour Network

  42. Benefits of a Strong Network of Relationships • Access to resources • Exchange of information, expertise, advice • Feedback on abilities and performance • Access to career opportunities • Learn how things get done and how decisions are made • Can discover diverse mentors and advocates • ______________________________________ • _______________________________________

  43. Gender Differences and Networks Giving/Taking (Reciprocity) Time Investment Formal/Informal Structures Purpose

  44. You Assess Your Network of Professional Relationships Outside Your Organization Inside Your Organization Seniors Superiors/Seniors Professional Peers Peers Mentees Direct Reports Hill L. (1994) Exercising Influence. Harvard Business School 9-494-080

  45. Analyzing Your Network ? How strong are your relationshipsoutside your formal work group? What are the weakest areas of your network? How diverse isyour network (men, women,ethnicity, generations,styles, functions)? How strong are your relationships to those senior to you? Do you have mentors, sponsors, coaches, advisors, and mentees? Do you have strongrelationships outsideyour organization atall levels?

  46. Mini-Summary Strengthening your network will have multidimensional benefit Make sure you have sponsors, mentors, advisors Learn more about organizational network analysis Work to build a diverse network

  47. Overall Summary Capitalize on your strengths Be proactive - Act with vision and purpose - Prioritize relationships over to do lists - Observe, observe, observe - Have a plan and point of view - Be less tactical and more strategic - Ask and promote Utilize sponsors, advisors, and coaches

  48. Overall Impact • Increased Self-Awareness • Increased Confidence • Larger Network • Increased Sense of Purpose and Direction

  49. My Favorite Quote “To have a firm persuasion in our work--- to feel that what we do is right for ourselves and right for the world at exactly the same time--- is one of the great triumphs of human existence.” David Whyte Crossing the Unknown Sea 2001

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