The emerging role of women

Tuesday, October 07 1997

The emerging role of women

Manjari Raman

Are men from Mars and women from Venus in the boardroom, too? It's a question that is of vital significance for business families as their women have now begun to step out of the cloistered courtyards of traditional havelis into positions of power in the family businesses.

"Since one half of all business families consist of women, why loose out on their contribution?," said Mrityunjay Athreya, management advisor, Athreya Management Systems, at a recent workshop.

According to Athreya, women bring special qualities to the boardroom that are critical for survival of family businesses in the liberalised corporate era. Women are more committed to organisational goals than personal goals. They are better at human relations, intuitive, and take a more long-term view and are more willing to make short-term sacrifices. Take heart, this isn't a clarion call for the next battles of the sexes. Instead, Athreya's vision for the Indian woman entrepreneur (IWE) -- consisting of women born or married into business families; women starting a a new business; women managers becoming intrapreneurs -- urges them to channelise their energies into becoming:

Entrepreneurial dynamos: These are women entrepreneurs who set out to create wealth, jobs, exports, nurture technologies and technical talent, develop brands, and exploit core competences.

Institution builders: These women concentrate on building institutions which endure the test of time rather than pandering to short-term profit- making priorities.

Social trustees: Women who help steer a company's attention towards its social obligation, by initiating community programmes in developing health, literacy, education, art or culture, or by ensuring that a percentage of pre-tax profits are set aside for social causes.

Gender role models: An inspiration to other young women, these women show how to empowering themselves and make a contribution in a male-dominated world.

Sahadharminis: They manage to harmonise their business responsibilities with their home priorities.

Shobana Birla Bhartia, the Garware daughters and Suchita Oswal Jain, have actively taken up the reins of business in the absence of a male inheritor. Anu Agha and Mallika Srinivasan first pursued qualifications and then became involved in their family business. Finally, circumstances compelled others like Vinita Singhania, after the untimely death of her husband Sri Pat Singhania, younger brother of Sriyukt Hari Shankar Singhania, entered the corporate fray.

Says Suchita, the only daughter of SP Oswal, CMD of the Vardhman Group, who joined the group in 1991 and is now executive director of Vardhman Marubeni Threads: "I'm the first woman in my family to enter the business." Today, she is proud that the fabric division which she heads, has posted a turnover of Rs 45 crore -- even though it is against the total group turnover of Rs 1,200 crore -- and by the turn of the century, Suchita has targeted a Rs 200- crore turnover.

Consider Indu Punj, wife of SNP Punj, chairman emeritus of the Rs 183-crore Punj-Lloyd Ltd, and mother of CMD Atul Punj and director Uday Punj. She not only plays a constructive role in ensuring the welfare of workers and employees by visiting sites and factories, but also feels that to her credit is the upbringing and the values she has imparted to the next generation.

Her contribution: by drumming in the right values and investing in relationship building, Indu Punj might have played a pivotal role in keeping the family -- and the corporate entity Punj-Lloyd -- intact for one more generation. However, unity is not just the only vital contribution an IWE can make. Consider Athreya's premise:

Amity: Even if a family split becomes inevitable, the women of a business family can help make it amicable by providing a positive influence on other members of the family.

Self-development: Women from a business family can assess their aptitudes and strengths and prepare themselves to lead at least one of the businesses of the family. They can also become "experts" like the daughters of Dr Reddy of Apollo, who have each earmarked one area of specialisation such as HRD, finance and hospital management systems.

Family entrepreneur development: Women from family businesses can also play a critical role in raising the next generation of corporate leaders who are dynamic and responsible-and committed to sustaining the family fortunes.

Intrapreneur development: An IWE can help nurture competent professional managers as internal partner intrapreneurs. She can also help break old preoccupations with age or seniority or archetypes.

Self management: By being a model of rectitude, or wise counsel, or patience, a woman from a business family can emerge as a powerful cohesive force that holds together a business strapped by strife. Says Athreya, "An inspiring example is the role model of Anu Agha, in the face of the death of her husband and son within one year."

Not only has Agha stomached the tragedies and held together the fortunes of Thermax, her daughter too is now shouldering the mantle that was cast adrift after the untimely deaths of Rohington Agha and his son. An engineer by training, the young Aga promptly eschewed her life in the UK, where she was heading Thermax' international operations, to join the board in India.