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Women CEO’s in Family Business: Challenges & Differentiating Styles
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Women CEO’s in Family Business: Challenges & Differentiating Styles

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  • 1. Women CEO’s in Family Business: Challenges & Differentiating Styles A Survey Report By Dale Carnegie Training® India
  • 2. Relevance 80% of businesses all over the world are family owned From traditional small businesses to a third of Fortune 500 companies 65% of top 500 BSE listed companies are family controlled,* about 70% of all BSE listed companies are family controlled 54% market capitalization on BSE (2007-08) contributed by the above family controlled companies
  • 3. . . . RelevanceA vital force but . . . Less than a third survive the transition from the first generation to the second Of these, about half do not survive the transition to the third generationCan a greater role for women in family businesses turn the survival statistics???
  • 4. Significance No structured and published research done on Owner-Promoter Women CEOs till date This is the first survey, globally, giving an insight into leadership aspects of women CEOs of family businesses
  • 5. Survey Objectives Demographics Entry in the family business Initial challenges in the business Gender related challenges Growth corridor Mentoring and grooming Leadership styles Advantages of being a woman leader Disadvantages of being a woman leader Critical skills for success as a CEO
  • 6. Research Span Number of respondents: 26 Average age: 40 years Geographic span: Pan India Status: Board level / CEO position
  • 7. Personal Demographics Designation  12% Chairperson level; 84% JMD/ED/VC/Dir /ED /Non-ED / Whole Time Dir; 4% Other Age  68% 25-45 years; 28% 46-55 years, 4% 65 years and above Education  32% G; 52% PG/MBA; 12% Splzn (Ph.D./MBBS), 4% OPM from USA Marital status  68% married/with children; 28% single/with children, 4% Other Prior experience  40% 1 - 3 yrs; 32% 4 - 9 yrs; 28% 10+ yrs
  • 8. Business Characteristics Age of Business: 76% companies were more than 20 years old Industry Verticals: Construction, Consulting, Engineering, FMCG, Infrastructure, IT, Logistics, Manufacturing. Business Turnover: 32% < Rs. 100 Cr; 28% Rs. 100-500 Cr; 40% > Rs. 500 Cr Company Type: 48% public limited; 52% privately held
  • 9. Reasons for Joining Family Business 48% - Felt it was a better career choice 40% - By chance 36% - Planned succession 28% - Because of business need
  • 10. Initial Challenges Faced 72% - needed to juggle family and business demands 88% - received support from family for household responsibilities 28% - had to put extra efforts to prove competence to family members 8% - entry into the business created conflict among management/employees
  • 11. Gender - related ChallengesAgreed 52% disagreed having faced any gender bias at work 28% felt they faced gender bias from external business community 44% felt their performance was assessed more critically by all stakeholders 60% agreed they face more leadership challenges than the male counterparts 28% said they had to put extra effort to prove competence to other family members 36% said that their remuneration was not at par with the male counterparts 24% said that they have been given concessions/flexibility for work hours/travel / leave 20% said that being a woman have been given less critical responsibilities 20% said that their performance evaluation criteria different than other male family members
  • 12. Growth Corridor 24% joined at entry level, 20% at middle / supervisory level and 44% senior / managerial level and 12 % at top level 15% took less than 1 year to reach the top, while 39% took 2 to 4 years, 11% took 4 to 7 years and 35% took more than 7 years 52% agreed that their rise to the top was easier than in professionally-managed companies 60% agreed that their hierarchical progress was faster than other colleagues 44% agreed that one needs to have at least 10 years of experience to get accepted as leader
  • 13. Mentoring / Grooming 68% received specific grooming for their roles 68% had been coached for leadership responsibilities Methods of Mentoring:  35% - Mentoring by a family member  12% - Early informal induction (16 to 17 years age) like office visits, etc.  23% - On-the-job learning, experiential learning  12% - Observation of other business leaders  12% - One-to-one Mentoring by external consultant/Board members
  • 14. Decision-making / Authority & Attitude Only 32% were final decision makers; 68% shared decision making authority 68% had authority at all levels, 24% had only at strategic level, and 8% had only at operational level 76% said they share accountability with other family members 84% said they are they are known to take tough / unpopular decisions 92% agreed that they will do whatever it takes to achieve the end results
  • 15. Leadership Style 84% felt their strength was in Planning, Organizing and Execution 70% felt they were also strong in providing Strategic Direction for their business 52% agreed that they were cautious and slow in taking business risks Only 32% felt that they commanded more respect and trust being a woman 100% felt that they are amenable and friendly as a leader 52% felt that they are cautious and slow in taking business risk
  • 16. Advantages of being a Woman Owner-Promoter CEOAgreed Decision making authority  80% Shared accountability  76% Greater risk taking capability  68% Flexibility of time  64% Faster career progression  52%
  • 17. Disadvantages of being a Woman Owner-Promoter CEOAgreed Tough balancing business and family interests  60% Restricted personal growth  20% Lower acceptance of authority by male family members  24%
  • 18. Critical Skills for a Successful CEO Knowledge of external environment, trends, functional knowledge and competence Vision, foresight and planning, ability to see a bigger picture Building strategic direction and clarity of purpose, leadership skills Ability to articulate, communicate and inspire, people skills Thinking out of the box, innovative thinking, taking risks Dedication, Perseverance, Ambition, Drive, Passion, Hard Work Emotional control, Empathy, cool head Ability to execute, implement Risk taking ability
  • 19. CONTACT USAddress:1, Construction House 5, WalchandHirachand Marg, Ballard Estate Mumbai -400 001 India.Telephone: +91 67818113
  • 20. Thank you CopyrightDale Carnegie Training® IndiaWalchand PeopleFirst Limited