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Chapter 1: Problem 9

In 1990 , there were 3 women among the CEOs of Fortune 500 companies. In \(2009,\) this number had risen to 15 women. (Source: H. Ibarra and Hansen, M., Women CEOs: Why So Few?, The Conversation-Harvard Business Review, Dec 21,2009\()\) a. What was the change in the number of Fortune 500 women CEOs between 1990 and \(2009 ?\) b. What was the percentage change in the number of Fortune 500 women CEOs between 1990 and \(2009 ?\)

Short Answer

Expert verified
a) The change was 12. b) The percentage change was 400%.

Step by step solution

01

Identify the Initial and Final Values

The initial number of women CEOs in 1990 was 3, and the final number in 2009 was 15.
02

Calculate the Change in Number of Women CEOs

To find the change in the number of women CEOs, subtract the initial value from the final value: \( 15 - 3 = 12 \).Therefore, the change in the number of women CEOs is 12.
03

Calculate the Percentage Change

To find the percentage change, use the formula: \[ \text{Percentage Change} = \left( \frac{\text{Change in Number}}{\text{Initial Number}} \right) \times 100 \]Substitute the values:\[ \frac{12}{3} \times 100 = 400\% \]Thus, the percentage change in the number of women CEOs is 400%.

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Key Concepts

These are the key concepts you need to understand to accurately answer the question.

Fortune 500 companies
The Fortune 500 is a list established by Fortune magazine that ranks 500 of the largest U.S. companies based on their total revenue. These companies are typically major players in their respective industries, making the list a significant benchmark for business success.
Understanding the makeup of Fortune 500 companies can provide insight into trends in business leadership and diversity.
  • The list is published annually and reflects the financial health of these companies.
  • Fortune 500 companies employ tens of millions of people and contribute significantly to the global economy.
  • Tracking leadership changes, like the increase in women CEOs, highlights shifts towards more diverse and inclusive leadership structures.
Observing who leads these companies helps analysts gauge progress in gender equality in enterprise leadership roles.
Women CEOs
Women CEOs are an essential aspect of the discussion about diversity and equality in corporate leadership. Historically, women have been underrepresented in CEO roles within top companies, including those on the Fortune 500 list.
Increasing the number of women CEOs is crucial for several reasons:
  • Gender diversity can lead to more innovative and comprehensive decision-making processes.
  • Women bring varied perspectives and experiences to leadership roles, enriching company culture and strategy.
  • Promoting gender equality in leadership can inspire future generations and affect broader societal change.
Understanding the trends in women's leadership in corporate America, such as the increase in women CEOs from 1990 to 2009, is a positive sign toward growing diversity.
Initial and final values
In any calculation involving change over time, it is crucial to identify the initial and final values clearly. These values serve as reference points to understand and measure the extent of change. In the context of women CEOs at Fortune 500 companies:
  • The **initial value** represents the starting point, which was 3 women CEOs in 1990.
  • The **final value** reflects the end of the period being considered, with 15 women CEOs in 2009.
Identifying these values is the first step in analysis as it sets the stage for any further calculations.
Relying on accurate and specific initial and final values ensures the calculated change is both meaningful and reliable.
Calculating change in values
Calculating change in values involves finding out how much a particular variable has increased or decreased over a specified period. In our case, it refers to the change in the number of women CEOs at Fortune 500 companies.
  • **Absolute Change**: Subtract the initial value from the final value. Here, it is calculated as \( 15 - 3 = 12 \).
  • **Percentage Change**: Helps us understand the change relative to the original number through the formula: \[ \text{Percentage Change} = \left( \frac{\text{Change in Number}}{\text{Initial Number}} \right) \times 100 \]
    Applying the example yields, \( \frac{12}{3} \times 100 = 400\% \).
This percentage change explains how much larger the group of women CEOs grew over the two decades. Understanding both absolute and percentage changes is vital for a nuanced view of the progression of women in corporate leadership.

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