Being successful in business often requires one to take risk. Without risk, decisions are not made, deals don’t get done, and business comes to a grinding halt. We deal with risk every day in one shape or another, yet the way in which people manage (or avoid) risk varies greatly from person to person.
Numerous studies have been conducted on the patterns of behavior exhibited by women in a variety of situations which relate to how risk is managed. Individual studies focused on how women handle personal financial risk, professional risk, and how female executives handle corporate risk. More specifically, The Atlantic Economic Journal published a study in 2006 that evaluated the manner in which female executives managed financial risk relative to their male counterparts. To save you the trouble of reading the rather lengthy and technical report the results of the analysis is that female executives are more risk adverse particularly in the area of decisions of a financial nature.
The long and the short of every study that I’ve come across is that women are more risk adverse than their male counterparts. Based on this simple premise, I have one question to ask which may make you cringe:
Given that risk is inherent in business is being a woman enough to impact one’s ability to succeed in business?
Not being a woman I can’t fairly and honestly answer this question – which is why I need YOUR help. Please join in the conversation and share your thoughts on the topic by commenting on this post.