This paper provides a critical analysis of newspaper article focused on socially innovative commerce. The lecture readings of week 2-7 are used to explore the current topic in public domain viz. Number of women executives in business organization (Cook, 2019). The theoretical principles applied in this paper in the context of this topic are based on two chosen issues of corporate governance and theories and global commerce. These two issues are chosen as they directly relate to one of the most common issues of women participation and economic empowerment in the 21st century. Women have been discriminated against since the beginning of human civilization. They are not given adequate freedom and opportunity for developing their professional career. The gender stereotyping is still widely prevalent in every country which has generated the need for women to protest for equal wages even in advanced countries like the USA (Council, 2017).
Stakeholder theory clearly articulates the need of corporate social responsibility which is intricately linked with corporate governance (ELLERING, 2017). The stakeholder theory argues that every stakeholder has basic interests which need to be considered while formulating any policy in an organization. The definition of stakeholders, as per this theory, includes customers, executives, shareholders and any other person or entity which is affected by the developments happening in the particular company. So corporate governance which also includes women empowerment is one of the basic themes of this paper. It has been estimated by international institutions like International Monetary Fund, World Bank and United Nations that is women workforce is increased or if women are given equal economic opportunities, the global growth will be increased by 2% (ER et al., 2019).
But, this is ironical that in various parts of world, women are not provided equal wages for equal work for which women had to drive a campaign in the USA and other developed countries (Entrepreneur.com, 2017). Another major issue related to economic empowerment and increased participation of women in professional life is the workplace discrimination and sexual harassment. Again, women had to start a campaign regarding the issue namely ‘me too’ campaign. Women are still considered inferior sex in various corners of the world which prevents their wider participation in work performed by men (Harned, 2017). Many countries have passed the law whereby certain number of executive persons must be women but unfortunately the corporate organizations seldom follow those rules and regulations.
Global trade has been increasing with world all the time more globalized in the 21st century but the women participation in this trade is dismal (Lowe, 2017). Women entrepreneurship is still a distant dream in many countries of world. Even developed countries have dismal number as far as women participation in global trade is concerned. According to porter’s National Competitive Advantage Theory, the nation should innovate as per exigencies of time to remain in competition and gain competitive advantage. This also includes social innovation practices whereby the women must be included in workforce and provided equal opportunity to grow economically and professionally (Mikhaylovich, 2019).
The corporate organizations still do not hire women even at lower level due to maternity benefits they are compelled to give to women during pregnancy and post-partum. Along with this, there is no such provision of maternity leave and benefits in various countries of the world (Mikhaylovich, 2019). This is a major hindrance for women to join any organization for long term. Moreover, women are not provided jobs at the lower level due to prospects of them taking leave for maternity needs in future. Companies are reluctant to invest in the skill development of women as women are not considered as regular employee (Nwankwo & Okpokwas, 2019). This makes women detrimental to gender stereotyping whereby working women is considered as social taboo in various communities. Still, the world of the 21st century imagines women as only a homemaker, not breadwinner. This is evident from the fact that idea of paternity leave has not gained ground anywhere due to which taking care of home and children is the responsibility of women solely. This makes women vulnerable to many social evils still practiced in different communities (Petty, 2017).
Thus women are still discriminated against in professional and personal life which makes women dependable on men (SL & PVV, 2019). The equal economic opportunities are not provided to women which makes them reliant on men. This is part of corporate governance which is not paid heed by corporate giants. Various popular MNCs like Microsoft, Pantaloons, Mcdonalds and so on lack adequate number of women at executive level due to which the policies relevant for women are also framed by men who generally either ignore or are not capable enough to take care of needs of women (Schiff, 2017).
Another major issue considered in week 2-7 relevant to topic of women role in executive functions of corporate world is the corruption. It has been revealed by many studies that women are better financial managers with less chances of corruption by women executives. In addition to this, women executives better take care of needs of women customers of the particular organization leading to competitive benefit and increased sale (Solomon et al., 2019). The policies related to women customers cab be framed by women entrepreneurs in a better way which pave the way for organizational branding and brand positioning. For example policies of a detergent manufacturing company are women-centric so to persuade women buy products from the particular business firm, women executives can play a wider role than men.
The idea of human rights has gained ground among international community (though human rights are also breached) so there is need to consider equality among men and women in the context of human rights (Thill, 2017). Taking care of home and children is not the sole prerogative and responsibility of women so men should participate in domestic activities equally considering human rights in mind. This will improve the prospects for women to join lucrative professional jobs whereby currently men far outreach women (TaskReports.com, 2017). Men overwhelm women in each economic sphere leading to very less number of women occupying the executive position in corporate giants or small sized firms. Entrepreneurial skills are still not adequate in women as per corporate world. Women are considered as devoid of entrepreneurial capabilities leading to stagnation of their wages and promotions. Due to widespread inequality among men and women, society is still regressive in nature whereby women are discriminated against in all economic spheres (Alexander, 2017).
Equal economic rights are human rights framed and followed by the United Nations so the women rights must also be included in human rights definition as a whole. Another major topic studied in the lectures of this term is environment. This is to be kept in mind that women are more caring from the perspective of environment as well. Along with this, the environment sustainability is the next major issue in the context of corporate governance. The corporate giants must not harm the environment to sustain themselves as humans have only one planet to live (Mars is still a distant dream). Saving mother earth from the after effects of industries is the collective responsibility of all stakeholders in a company which pollute the environment. The environment sustainability is necessary for very life to occur on earth. The scientists have predicted that the world is progressing towards sixth mass extinction (Cook, 2019).
Women may play a lead role in the efforts of environment conservation if provided ample opportunities to grow in the world dominated by men. Another major issue which have been becoming a new buzzword after 2008 financial crisis is the unemployment. It is said that there are not ample number of jobs available for men, leave alone women. Along with this, it is argued that technical advancement has reduced the number of jobs for human beings with increasing inequality. This has led to creation of haves and have-nots in international commerce sector leading o generation of animosity (Entrepreneur.com, 2017). The world economy has been passing through turbulent phase so women are not given priority from the perspectives of jobs. Breadwinning task is considered the sole responsibility of men as women are considered incapable of sustaining them and their children. Moreover, women are not provided profession-oriented education leading to lack of skills with widespread discrimination against men. The technological advancement has left the women behind whereby women lack necessary skills for their advancement (Lowe, 2017).
There have been many examples in ancient and medieveal history whereby women have played exemplary role and showed excellent performance from the perspective of professional life. Women have fought freedom wars during colonisation era in different countries of the world. This shows that women are not inferior to men in any context and have greater role to play in professional life.
Women should be provided equal wages for equal work so that they can earn a decent income equal to me. Along with this, the gender stereotyping role for women should be removed from the minds of conservationists so that women can take wider participation in economic activities. Women should b given education and economic resources to grow on their own (ER et al., 2019). The next major recommendation is removal of discrimination and derogatory practices like sexual harassment from workplaces. Despite technological development, women are not provided equal technical training so they must be given better opportunities to learn technical skills. Anti-corruption drive by various countries of world like China will be better implemented through wider participation of women. Along with this, father should be given equal responsibility to handle children and home so that they take care of responsibilities hitherto fulfilled solely by women (Lowe, 2017).
Paternity leave must be provided to men so that taking care of children becomes joint responsibility of both men and women. Paternity leave is a new concept which has not been embraced by conservationists so they should be persuaded to shun the primitive practices and embrace change needed for dynamic society. The social evils concerning women rights must be removed so that women’s professional career grow in harmonious environment. Women must be given opportunities to present their skills to world with the equal zeal as men to move forward in life and gain reputed and acclaimed positions worldwide. There is need to consider women as complementary to basic economic activities performed by men (TaskReports.com, 2017).
It can be concluded from above findings that women are discriminated against in each sphere and phase of life. The corporate world must strive hard to remove the practices derogatory to self-respect of women. This is part of the broad policy of corporate governance which needs to be followed by each business organization to contribute to society along with making profit from market. Corporate governance is necessary for every organization not only from the perspective of moral responsibility but also legal liability as in various countries of world, few laws have been enacted to make women assume wider role in economic activities. Along with this, the global commerce is increasing in globalized era whereby the developments happening in one part of world have percussions worldwide which is evident from the results of 2008 economic financial crisis in which economic turbulence in the USA shook whole world (Council, 2017). Global commerce or international trade has been taking place since ancient times like Mesopotamian Civilization conducted trade with Indus valley area in 2500 B.C. this trade has been growing since then in which women seldom played major role. The modern century demands increased participation of women in economic activities so they must be persuaded and provided avenues to improve their prospects from the perspective of global trade as well (ER et al., 2019).
Hopefully the world community will pay heed towards these social evils and find out the solution soon as dynamoic society of the 21st century demands changes pertaining to social aspects. Social innovation from the perspective of women’s role in economic activities is the need of time (Alexander, 2017).
References
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