Navigating the Challenges and Celebrating the Triumphs of Senior Management in the Era of Empowered Women in Corporate Boardrooms

Although women represent half of the world's population, their role in society has been
largely marginalized in various fields and professions, from academia to medicine. The lack of
women in business and economics, especially at the decision-making level, is particularly
poignant, as women have increasingly more influential purchasing power. Nowadays, women are
becoming recognized as the drivers of the world economy, making 80% of consumer purchasing
decisions in America1 and the UK,2 and are rapidly assuming a growing share of personal wealth
globally; for example, by 2020, half of new British millionaires are expected to be women.3 The
percentage of women has exceeded 50% at many colleges and universities worldwide, and
reaches nearly 50% in the workforce of developed countries.
The push for more women in decision-making positions has run parallel with the fight for
gender equality. Since the emergence of the Suffragette movement in the US and the "New
Woman" at the beginning of the twentieth century, women have been tearing away at the walls
that separate women and men in the workplace. Currently, with more men and women
advocating for an equal playing field, gender equality has become a vital component of domestic
and international policy and development. However, this movement so far has had limited
success. Because of persistent gender gaps, there has been a renewed vigor in the fight against
gender inequality. For example, the OECD and World Bank have recently constructed websites
that address gender equality and its importance to economic development. Additionally, in 2007,
the European Union established the European Institute for Gender Equality in Vilnius, Lithuania