Women-The Global Economic Engine

Women-The Global Economic Engine

"There is nothing in an age that so sharply mirrors its philosophy as the lives of it's Women" - Walter Farrell

Women have an extensive and comprehensive role in building a society. The various facts where the role of women is encouraging and impactful are politics, scientific developments, and leadership positions in the corporate houses and in the overall development of a country.

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Globally, about 70% of the total consumer spending is controlled by women, as they are the gatekeepers in most families. It has been observed that women are good in maintaining the household related budgets, which is attributed to the fact that many microfinance and micro loan schemes are gaining popularity because of women are good worthy credit risk.There is no doubt that women are increasingly gaining the global perspective. Women are capable of laying the strong foundation of household economies and have the potential to break the poverty cycle. In developing economies, women produce around 60 to 80% of the food and own about 60% of the micro enterprises globally (Meehan, Forbes.com).

These figures are just a snapshot, which highlights the fact that how the involvement of women in the development of society is critical. One of the greatest personalities of this planet, Napoleon Bonaparte said that, "Give me an educated mother, I shall promise you the birth of a civilized nation. By educating the women we can educate the whole nation, because a country can never rise without the contribution of 50% of its population"

Steps to be taken to increase women's role in the society development: Globally, many enterprises and the governments have started various initiatives, which can help in bringing the women upfront in the task of society development. Wal-Mart, the retail giant started Women's Economic Empowerment Initiative where the company plans to make the sourcing from women owned businesses two times across the world.

Other steps in this direction can be discussed at the enterprise level.There are many policy level suggestions which can help in this direction, like keeping the most qualified women talents at the top level management and board of directors, formulating sensible and practical but bold standards for inclusion of female employees based on the policy of welcoming the parenthood and work-life balance in the workplace; improving the policies of giving access to credit and monitor the involvement of women in building the business. In another attempt in this direction, the increasing participation of women in the country's labor force poses a great opportunity in the development of country's GDP and economic growth. Being a woman farmer, the probability of becoming that household and children becoming malnourished is very low (International Center for Research on Women).
From the discussion, it can be wellconcluded that when women are the part of corporate houses, businesses, government, they are influential leaders, entrepreneurs, galvanizers, savers, stabilizers and collaborators. She has an intrinsic capability of, which combined with high degree of adaptability to get fitted into the multiple roles and facets of life.


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