Diversity: Women in the Boardroom

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An old ancient Chinese proverb says, “Women hold up half the Earth.” The corporate world is on the forefront of believing these words. Women of the world today are being acknowledged as the key to economic success. Organizations all over the globe are learning the opportunities of opening up to diversity and adding women to their boardrooms. Ignoring talent in half the population is not the best method for an organization to create a successful and effective board. Urban Outfitters Inc. has not always been a top contender in the diverse corporate world. In this report, we will investigate how Urban Outfitters Inc. reluctantly took a step in the direction of updating the faces of their executive boardroom. We will discuss the…show more content…
(Curtis, Schmid, & Struber, 2012)Fishing in a talent pool goes beyond the edge of the bank. Organizations benefit from extending past their quickly reached resources of contact lists and family members. Urban Outfitters, Inc reached for diversity in its boardroom May, 2013 with the appointment of Margaret Hayne. Margaret Hayne is the wife of the CEO, co-founder, and Chairman of the board, Richard Hayne. (Karr, 2014) The appointment of Haynes appears to represent tokenism. Tokenistic appointments discredit the abilities of the appointments contribution of talent and expertise. (James, 2013) Negative consequences of tokenism are diligently monitored and high pressure to perform. The appointment of an outside director, Elizabeth Ann Lambert, in December of 2014 reduced some of the residual adverse effects left on the public. In a boardroom, core similarities result in cohesive decisions. Neither extreme heterogeneous groups nor extreme homogeneous groups make good rational decisions for organizational goals. (Introduction and Conceptual Framework, 1997) Unity for action with the organization’s best interest in mind balances the detrimental results of the effort. Diverse boardrooms create aggressive advantages for an organization. Bringing a variety of perspectives to the table gives higher levels of critical analysis and lowers the likelihood of a groupthink scenario. (Shin, Kim, Lee, & Bien, 2012) Why does a good boardroom make good business
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