But women, on balance, are actually better managers than their male counterparts, according to various studies. They tend to be more efficient, more effective, less emotional and better at extracting profits than men.
Not convinced? Here are the facts.
1. Women are more effective as top managers.
Companies run by women significantly outperform the broader market, according to research quoted in the Atlantic magazine. While some people believe this is because women often reach the CEO position after a company has achieved stability, "the fact remains that female-led companies are...almost across the board, besting their competitors."
2. Women are better at finance.
According to financial research conducted by the business consulting firm Rothstein Kass, hedge funds run by women make over three times as much money as those run by men. Over the period measured, such funds produced a net return of 8.95 percent, which is far better than the 2.69 percent average return of hedge funds in general.
3. Women are better top-level advisors.
According to a study of boards of directors from the research group Catalyst, companies that had a higher-than-usual number of female board members serving for at least four or five years vastly outperformed companies with primarily male board members. This outperformance spanned three key metrics: 1) return on sales (84 percent), 2) return on invested capital (60 percent), and 2) return on equity (46 percent).
4. Women are better planners.
Arizona State University and Ohio State University economists recently analyzed how 1.8 million people purchase airline tickets. To their surprise, their research revealed that women book business flights an average of two days earlier than men. As a result, women saved their employers money by paying an average of $113 less per ticket, nearly a third of the cost of an average plane ticket.
5. Women perform better under stress.
According to neuroscience research from the University of Southern California and Duke University, women make less-risky decisions in high-stress situations. As the New York Times explains:
The closer the women got to the stressful event, the better their decision making became. Stressed women tended to make more advantageous decisions, looking for smaller, surer successes. Not so for the stressed men. The closer the timer got to zero, the more questionable the men's decision making became, risking a lot for the slim chance of a big achievement.
6. Women make teams smarter.
A series of tests conducted at MIT assigned randomly selected volunteers typical team projects, like logical analysis, brainstorming, and the coordination of corporate activity. They then measured how much each team accomplished. Contrary to expectations that the most diverse teams would perform best, the research showed that the more women on a team, the better its performance. The presence of men turned out to be a liability.
7. Women create instant competitive advantage.
Since most companies show a bias for hiring men rather than women they're shooting themselves in the proverbial foot. If you decide to do the opposite and hire more women, you're therefore statistically more likely to improve the level of talent and capability of your own organization versus that of your currently clueless competitors.