Comparative Analysis of Most Powerful Women in Business-Nursing Paper Examples

Comparative Analysis

Women remain underrepresented in the business sector. In the past decades, men have occupied top executive positions while women remained excluded from any business top leadership positions. However, recent campaigns for increased gender diversity have made women economic engines within nations, regions, and worldwide. As a result, women have taken top business leadership positions and delivered perfectly (Comparative Analysis).

Women empowerment has offered a healthy diversity in business, proving that they require equal opportunities and recognition like men. Fortune Magazine is one the greatest champions for women’s leadership in business. Moreover, through its section for ‘Most Powerful Women in Business.’ Fortune drives business conversations. In addition, lights paths for global leaders while providing the tools required for better businesses.

Comparative Analysis of Most Powerful Women in Business
Comparative Analysis of Most Powerful Women in Business

Fortune’s most recent annual business list for the most powerful women in business was released on October 4, 2022. Fortune merged the United States’ domestic and international lists for the first time to come up with 51 women, where only six were newcomers (Comparative Analysis).

This comparative essay features two women, Karen Lynch and Carol Tomé. Consequently, elucidates their current roles, professional experiences, and career success. The paper will also describe the leaders’ respective leadership styles and compare them with those of men. Furthermore, highlight the similarities and differences between the two leaders. In addition, elaborate on how culture impacts women’s leadership from Hofstede’s masculinity and femininity dimension.

Current Roles, Professional Experiences, and Career Success

Karen S. Lynch is currently the Chief Executive Officer (CEO) and President of CVS Health. Karen ranked the highest in Fortune 500 in the 2022 business list for the most powerful women for the second time as the first woman to run a Global 500 organization. CVS Health is a leading company in offering health solutions and ranks fourth largest according to Fortune 500 (Comparative Analysis).

Karen leads over 300,000 employees dedicated to delivering high-quality healthcare experiences for consumers through improved health outcomes and affordable and increased access to services. Since Karen took over the leadership in February 2021, the company’s revenue increased by 9% while its share plans gained up to 42% (CVS  Health, 2023).

Under Karen’s leadership, CVS Health positively impacted over 100 million lives through pharmacy and health benefits across the United States. The company set goals to improve healthcare equity globally as a part of its sustainability plans. The company became a central player in fighting the COVID-19 global pandemic, where Karen’s leadership implemented a mental health program to prevent suicide among the company’s Aetna members (Comparative Analysis).

Karen excelled in her studies as a Boston College and The Questrom School of Business at Boston University graduate. She was awarded an honorary doctorate of humane letters from Becker College in 2015 and an honorary Doctor of Commercial Science from the University of Hartford in 2022 (CVS  Health, 2023). Notably, Karen has a healthcare industry experience of over three decades. Before February 2021, Karen was the CVS Health executive Vice President and President of Aetna, where she served to deliver holistic and consumer-centric healthcare (Comparative Analysis).

Karen was also the president at Magellan Health Services and Cigna. She started her career as a certified public accountant at Ernst & Young. Fortune named Karen the most inspirational CEO in 2022, featured among individuals who have changed global business on Bloomberg 50 and Forbes’ “50 over 50”. Karen was a trustee in The Bushnell Center for the Performing Arts in Hartford and served on the US Bancorp board. She is also a member of the World Economic Forum Global Coalition for Value in Healthcare Executive Board, Business Roundtable, and the Boston College Women’s Council.

On the other hand, Carol B. Tomé broke the record after being appointed the first female UPS Chief Executive Officer (CEO) on June 1, 2020, after serving as the company’s director since 2003. She became the 12th CEO in 115 years of UPS’s existence. Carol ranked sixth in Fortune’s Most Powerful Women in Business in 2022. She also became the highest woman ranked in business running a Fortune 500 company in Georgia (UPS, 2023) (Comparative Analysis).

Carol was the Chief Finance Officer of the Home Deport since 2001 and Executive Vice President since 2007 until her retirement in 2019. She became a commercial lender with the United Bank of Denver. She also became a Director of Banking for Johns-Mansville Corporation and the Vice President and Treasurer of Riverwood International Corporation for several years (Comparative Analysis).

Carol’s professional experience offers UPS precious strategic planning and financial expertise. Carol also has a wide range of experience in innovating and growing Business-to-Business (B2B) and consumer businesses with large employee bases and geographical footprints. Of importance, Carol’s experience in leadership provides UPS with deep insights into strategic planning and business opportunities (Comparative Analysis).

Carol’s professional experience continues to grow as she is a board member of Verison Communications and a board trustee for Grady Memorial Hospital Communication and the Atlanta Botanical Garden. She is a member of The Committee of 200, The Business Council, The Buckhead Coalition, and the International Business Council of the World Economic Forum. Carol holds a Master’s degree in Finance from the University of Denver and a Bachelor’s degree in Communication from the University of Wyoming (Comparative Analysis).

Women’s Respective Leadership Styles and Differences from Men

Fortune’s publication on the most powerful women in business shows that all women have equal capacity to lead and occupy top executive positions in the business world, just like men. Carol and Lynch are exemplary women living proof of top women leadership. Lynch portrays a transformational leadership style by claiming she is an agent of change (Farhan, 2022). Lynch took the job and focused on transforming CVS Health (Comparative Analysis).

Her sense of responsibility and commitment propels her to transform the organization. She is innovative, diverse, honest, and transparent. She is a good communicator and communicates possible changes and their impacts on the business with the employees. Lynch is a competent leader but is always open to listening to her employees’ ideas. As a result, she has built positive relationships with the employees while driving the organization toward the desired purpose.

Besides transformational leadership, Carol is more of a visionary leader who aligns with the company’s goals. She claims, ‘UPS is a purpose-driven company with a proud past and an even brighter future” (UPS, 2023). For this reason, Carol focuses on equity and fairness and condemns racial and other forms of discrimination at UPS to achieve her vision. Her confidence and aggressive personality also drive her vision. UPS experienced the highest-ever revenue ($85 billion) six months after Carol assumed leadership (Farhan, 2022) (Comparative Analysis).

Carol and Lynch’s leadership style differs from men in similar roles. While there is a clear insight that men and women portray different leadership styles, the differences in leadership behavior among men versus women are based on work context, stereotypes, and different expectations (Martinez-Leon et al., 2020)(Comparative Analysis).

Carol and Lynch are more transformational than men and transactional despite having similar responsibilities. Women are more democratic and participative than men. In this case, Carol and Lynch have more interpersonal skills than men. Specifically, they are interactive, promote multidirectional feedback, and foster rewards that empower all employees at different levels (Comparative Analysis).

Similarities and Differences in Carol and Lynch’s Leadership

Carol and Lynch are exemplary leaders representing women in business globally. One of the most notable similarities is that both women portray transformational leadership. In this case, both leaders have inspired positive changes in their respective organizations. Both leaders model the way for their followers, inspire a shared vision, and enable the followers to perform organizational tasks at their best level.Carol and Lynch are competitive leaders who stop at nothing to achieve their goals (Comparative Analysis).

The strong sense of commitment and competitiveness has made UPS and CVS Health successful organizations under the leadership of Carol and Lynch, respectively. For instance, both companies saw an increase in revenue after the women leaders assumed the CEO positions, as mentioned earlier. Both leaders also focus on hiring and retaining talented employees with the skills and expertise to drive the business to the business’s vision. Of importance, Carol and Lynch’s professional experiences have played a crucial role in their outstanding leadership performance as top business executives (Comparative Analysis).

However, Carol and Lynch have different career and professional paths since they did not study the same course and assumed different business sector responsibilities before becoming CEOs. Notably, Carol and Lynch’s leadership styles do not have distinct differences as they are visionary and transformational. Notably, women’s experience fits the research cited in the textbook since leadership can be nurtured. In this case, Carol and Karen’s professional experiences prepared them for their current positions. Also, their experiences support research that women should be given equal opportunities to men since they can lead effectively (Comparative Analysis).

Cultural View on Women’s Leadership and Hofstede\’s Masculinity and Femininity

Culture affects people’s views on women’s leadership. Women are typically deterred from pursuing positions and influence. Women encounter impediments related to cultural belief systems during their leadership quests. Culture makes people stereotype women to subordinate positions since they possess fewer leadership qualities than men (Bullough et al., 20220).

Secondly, culture assigns women domestic responsibilities reducing their opportunities to assume leadership positions. As a result, women encounter bias when they portray masculine leadership qualities. Additionally, culture renders women emotional and lacking assertiveness when they remain feminine but perform male roles. Therefore, the cultural belief system propagates gender inequality, making people view women’s leadership as ineffective or impossible (Comparative Analysis).

Notably, Hofstede’s masculinity and femininity cultural dimension can be used to assess women as leaders. Hofstede stresses different expectations for men and women. While masculinity claims men are assertive, competitive, and success-oriented, femininity culture expects women to be nurturing and life-oriented (Liñán et al., 2020). Hofstede’s descriptions are stereotypes since not all men are competitive or women are nurturing. In this case, some men are more nurturing, and women are more competitive and goal-oriented (Comparative Analysis).

Carol and Lynch are exemplary women who have broken these cultural stereotypes and achieved high career success. Hofstede’s masculinity and femininity cultural dimension can be used to show that despite the stereotype associated with women, they have equal abilities to become successful leaders like men. Therefore, academic qualification, professional experience, and competency should be used instead of gender roles to award leadership opportunities (Comparative Analysis).

Conclusion

While men occupy top executive positions, women remain excluded from any business top leadership positions. However, recent campaigns for increased gender diversity have made women economic engines within nations, regions, and worldwide. Fortune Magazine has been one the greatest champions for women’s leadership in business through its section for ‘Most Powerful Women in Business.’ Carol B. Tomé, UPS Chief Executive Officer (CEO), and Karen S. Lynch, Chief Executive Officer (CEO) and President of CVS Health, are exemplary leaders who have proven women can lead effectively like men through a sense of responsibility and commitment (Comparative Analysis).

As women leaders, Carol and Karen are more interactive, promote multidirectional feedback, and foster rewards that empower all employees at different levels compared to men in similar positions. The leaders’ transformational leadership styles have been tremendous in their success. Carol and Karen have surpassed cultural stereotypes (femininity v. masculinity) that women to subordinate positions since they possess fewer leadership qualities compared to men. Therefore, leadership opportunities should be awarded based on academic qualifications, professional experience, and competency, not gender.

References

Bullough, A., Guelich, U., Manolova, T. S., & Schjoedt, L. (2022). Women’s entrepreneurship and culture: gender role expectations and identities, societal culture, and the entrepreneurial environment. Small Business Economics58(2), 985-996.

CVS Health (2023). Leadership. Retrieved from https://www.cvshealth.com/about/leadership/karen-lynch.html

Farhan, B. Y. (2022). Women leadership effectiveness: competitive factors and subjective and objective qualities. Cogent Social Sciences8(1), 2140513.

Liñán, F., Jaén, I., & Martín, D. (2020). Does entrepreneurship fit her? Women entrepreneurs, gender-role orientation, and entrepreneurial culture. Small Business Economics, 1-21.

Martinez-Leon, I. M., Olmedo-Cifuentes, I., Martínez-Victoria, M., & Arcas-Lario, N. (2020). Leadership style and gender: a study of Spanish cooperatives. Sustainability12(12), 5107.

UPS (2023). Leading the industry and connecting the world. https://about.ups.com/mx/en/our-company.html

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