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A woman’s world
There is an economic transformation underway, as a billion of the world’s women alter the economic status quo. What’s happening, and where will it lead us?
July 1, 2010 7:45 by Katherine Azmeh
Analyzing data from the International Labor Organization (ILO), a UN constituent that tracks global workforce statistics, the report suggests that 870 million women will move into greater economic impact by 2020, with that number exceeding a billion in the next decade. The ramifications of a more woman-centered global marketplace are far reaching.
“If China and India each represent 1 billion emerging participants in the global marketplace, then this “third billion” is made up of women, in both developing and industrialized nations, whose economic lives have previously been stunted, underleveraged, or suppressed,” the report contends.
But really, is this insight anything new? Observers of the trend have long-noted that economically empowered women have radically different financial priorities. Harvard business school professor, Rosabeth Kanter said “the biggest demographic change of our times [is] the emergence of women as an economic force.”
“Influence: How women’s soaring economic power will transform our world for the better,” is a new book that considers the trends evolving alongside the emerging financial empowerment of women.
“Women around the globe [are] becoming financially powerful enough to stand on their own two feet and tip the world’s power
balance, starting with home life, extending to work life, and finally affecting general society,” the authors say.
This is inspiring news for the global good, not to mention the business environment. Those with a vested interest have already begun looking to a future where the power of women with money is central to savvy business decisions. Business and marketing professionals are keen to get a handle on the different decision making patterns that women exhibit, and the transformational possibilities that this presents for the global community.
A billion women – from diverse nations of the world, bringing radically different backgrounds – are poised to enter the global marketplace. They will transform our global reality.
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