International Women's Day, celebrated every March 8, is a focal point for women’s struggle to achieve recognition of their rights and promote gender equality.

By INSTITUTIONAL COMMUNICATION | EGADE BUSINESS SCHOOL

For 2024, the UN selected “Invest in women: Accelerate progress” as the core theme of International Women’s Day, focusing on public financing challenges to foment gender equality. Investing in women is a human rights imperative and the cornerstone for building inclusive societies.

Within the framework of this commemoration, Tecnológico de Monterrey reiterates its commitment to striving to achieve gender equality, promoting reflection on the responsibility to improve conditions for women, and contributing to this goal inside the institution and through the education it delivers.

On this 8M, the female members of the EGADE Business School community have joined in the global conversation to highlight the importance of advancing collectively towards a future of gender equality, a challenge that is still at the center of business and educational environments.

Collaborators in this special “8M: EGADE Voices on International Women’s Day” were:

• Eva Guerra, academic associate dean, Tec Inspiring Professor 2023, and co-host of the Business Territory podcast.
• Christiane Molina, professor in the Department of  Strategy and Leadership, and member of the PRME Global Chapter Council.
• Diana Kolbe, research professor, Department of Marketing and Business Intelligence, and member of the Thematic Research Area Group (GAT) for Production, Commercialization and Responsible Consumption.
• Lucila Osorio, research professor, Department of Marketing and Business Intelligence, and leader of the Thematic Research Area Group (GAT) for Retail Industry Transformation.
• Luciana Manfredi, research professor, Department of  Strategy and Leadership, and member of the Thematic Research Area Group (GAT) for Production, Commercialization and Responsible Consumption.
• Lourdes Ocampo, professor and academic leader of the Executive Education program Women Leading Organizations.
• Teresa Almaguer, professor emerita of EGADE Business School, recognized in 2023 for her 45 years of service at Tec.
• Cecilia Terán, leader of the EGADE Business School Career and Professional Development Center (CCDP).
• Fernanda Cornejo, alumna of the EGADE Full-Time MBA and founder of Femprende, a platform that seeks to recognize the power of women through entrepreneurship and innovation.
• Xi Chen, EGADE MBA student and Tec Women’s Prize 2024.

INVESTMENT AND FINANCING

How can businesses, educational institutions, and governments effectively increase and direct their investments and financial resources toward initiatives that actively promote gender equality and accelerate progress toward parity in business?

Molina highlights the need for a mindset shift as an essential precursor to investing in gender equality. “I believe that promoting gender equality requires a mindset shift, not just investment,” she says, suggesting that investments will naturally flow towards equality efforts once this change occurs. The professor also pointed to the importance of investment in education to guarantee female participation at all levels. Regarding mobilizing resources to close the gender gap, she notes the value of aligning talent management and sustainability strategy, claiming, “Alliances are necessary to find solutions to complex, systemic problems like this."

For her part, Manfredi points out that progress has been made towards gender equality in Latin America but insists that “more can be done.” The research professor emphasizes the need to mobilize not only economic but also human resources and experiences and invites us to foreground conversations on equality. “Investment is about hiring, raising awareness, and training," she says, underscoring the importance of building stronger connections and using technology to reinforce the social fabric.

Osorio reflects on the variability of investment in gender equity in business and the need for a deeper commitment. “Investment varies considerably from one region to another... There are still significant challenges and disparities," she explains, stressing that beyond funds, a cultural change is needed together with a genuine commitment to gender equality that “is not just necessary, but also in the best interest of businesses.”

Furthermore, Kolbe stresses the importance of a joint effort to close the gender gap, emphasizing that “it starts at the individual level, with business and government support.” The research professor highlights the need for “transparency around policies, practices, and numbers”, pointing out the lack of clarity as an obstacle to moving towards equality.

Guerra recognizes the progress achieved in gender equality in business settings but emphasizes that there is still a long way to go. “Firms, governments, and educational institutions can help close gender gaps by investing in programs that promote women's participation in STEM, leadership, and professional development,” she explains. The Academic Associate Dean highlights the commitment of EGADE Business School to this cause through initiatives such as the Empowering Business Women scholarship.

SHIFT TO A GREEN ECONOMY AND CARE SOCIETY

How can we foster a green economy that will benefit women equitably, and what strategies should companies adopt to promote sustainability, inclusion and a care society that values and adequately compensates the care work traditionally undertaken by women?

Manfredi champions strengthening the social fabric as a key element to benefit women equitably in the shift to a green economy. “Shifting to a green economy will allow us to be more responsible and sustainable,” she says, highlighting the direct positive impact on women who are mothers and heads of households in rural areas. In addition, the research professor urges companies to remunerate care work and offer working conditions that facilitate a work-family life balance.

For her part, Molina emphasizes the critical role of women as promoters of sustainability. “If firms generate opportunities for women to participate in positions of power... there is a potential to trigger these initiatives,” she explains, exhorting male-dominated boards of directors to include female directors.

With respect to implementing strategies, Kolbe and Osorio agree on the importance of moving from theory to action. Kolbe points out the need for “real execution and monitoring” to promote sustainability and inclusion, while Osorio criticizes strategies that “remain on paper,” emphasizing the need for concrete actions and continuous monitoring to achieve genuine impact.

Finally, Guerra closes the circle by linking the green transition with gender equity and sustainability, stating that “to promote equality, firms must provide equal flexibility or parental leave for men and women.” She goes on to say that building a green economy and a care society implies not only recognizing and revaluing care work, but also promoting co-responsibility in home and work activities.

WOMEN’S LEADERSHIP AND ACTIVISM  

What are the greatest challenges women face when seeking leadership roles in the business world, and how can companies, together with society in general, support and promote female leadership and gender parity activism, thus creating safe and inclusive workplaces?

Ocampo cites McKinsey's report "Women Matter 2022" to highlight the urgency of accelerating efforts towards gender equality: “If we do not change strategies but stay on the current course,... it will take a hundred years to achieve gender equality.… That is a possibility we cannot accept.” She emphasizes that, despite advancements, progress is slow and advocates a multifaceted approach that addresses everything from personal beliefs to the implementation of organizational strategies. To drive more women to the highest levels of organizations, the professor proposes McKinsey's CLIMB strategy, highlighting the importance of CEO engagement, female leadership programs, supporting infrastructure, measurement of results, and behavioral changes. “McKinsey proposes a strategy whose acronym is an inspiring metaphor: CLIMB,” she explains, emphasizing that each letter represents a crucial step towards female empowerment in corporations.

Guerra points out significant challenges for women's leadership in business but emphasizes the importance of mentoring and mutual support among women. “We must encourage, mentor, and accompany each other," she says, noting that mentoring spaces and equal opportunity policies are essential for creating safe, inclusive work environments where women can flourish and lead.

Molina identifies the “glass ceiling” as one of the main challenges for women who aspire to leadership roles, stressing the importance of processes that favor fair competency evaluation. “To promote leadership, we need to ensure that the company's processes favor competency evaluation," she recommends, advocating transparency and equity in recruitment processes.

Manfredi addresses the challenges women face in leadership positions, including the “glass ceiling” and income inequality. The research professor emphasizes the importance of a cultural change that will expand women's perceived role beyond their family life. “We need a cultural change to change the chip,” she says, suggesting that companies should encourage female leadership through parity in hiring and inclusion in decision-making.

Kolbe also identifies significant challenges for women in leadership roles, including the pay gap and gender stereotypes. She suggests that mentoring programs, an inclusive culture, and transparency can be effective strategies to support the rise of women to leadership positions.

Osorio adds that the challenges for women in leadership are multifaceted, from gender stereotypes to conflicting social expectations. “In my opinion, the most challenging part is gender stereotypes and unconscious bias,” she says, arguing in favor of policies and practices that will genuinely support women's leadership at every level of the organization.

Almaguer identifies the dual responsibilities women face as a significant obstacle to their journey to leadership. “This comprehensive skill... becomes an obstacle when seeking promotions and upgrades,” she explains, suggesting that companies can help by creating spaces that allow women to continue in their careers while raising their children. She also highlights the importance of supporting women's communication and teamwork skills, often undervalued in conservative organizational cultures. The professor emerita champions a meritocracy-based equality approach, highlighting women's capacity to lead in public relations and decision-making. “The closeness women can build with their teams contributes to team commitment,” she says, emphasizing the importance of creating programs that benefit the family and improve the living conditions of disadvantaged groups.

Along the same lines, Terán points out that beyond the known obstacles, such as the wage gap and lack of representation in executive positions, “one of the challenges is the famous impostor syndrome,” emphasizing how cultural norms and traditional expectations can inhibit women from pursuing leadership roles. This phenomenon is exacerbated by the pressure to balance professional commitments with family roles. “In companies, women's leadership can be supported and encouraged by creating and maintaining spaces of genuine flexibility," she adds, suggesting practices such as flexible work schemes, the culture of working towards objectives instead of face-to-face time, and the integration of family and work life, and integrating spaces for children and pets in special circumstances. This approach, she assures, not only benefits women but also enriches the work environment for every member of the organization.

Cornejo addresses the impact of unconscious bias on women’s progression in business, highlighting the need to overcome these prejudices to facilitate a fair evaluation of talent. “Unconscious bias consists of our acquired assumptions, beliefs or attitudes ... their impact on women’s progression of women is considerable,” she points out, proposing policies that promote an inclusive organizational culture. She also criticizes purplewashing, where a false image of inclusion is given, and advocates genuine women's leadership: “Companies’ promotion of authentic female leadership, where women have a true influence, is vital.” The graduate also stresses the challenge that everyday machismo represents, such as mansplaining and interrupting, urging the creation of a work environment where these behaviors can be pointed out without fear. Finally, she underscores the importance of sisterhood and women supporting women as a means to overcome obstacles and move toward leadership.

EGADE AS AN AGENT OF CHANGE

Guerra highlights EGADE Business School's firm commitment to gender equality. The school recognizes the responsibility of preparing students to be inclusive leaders, implementing internal policies that reflect this commitment, and fostering a culture of inclusive, equitable leadership.

Kolbe specifies how the School is actively addressing gender equity, from committees for inclusive policies to promoting women in leadership roles. The research professor proposes organizing frequent workshops on gender equality and incorporating this topic into academic programs as future lines of action.

Reflecting on the impact within EGADE, Molina celebrates women’s outstanding academic performance in the School's programs. “Displaying their testimonies and then keeping track of our alumnae to share their career paths is important,” says the professor, underlining continuity of support through initiatives such as scholarships for women.

Osorio applauds the diversity and performance of women at EGADE, emphasizing the importance of representation and continued support. “It gives me great pride to be part of this community that actively and committedly promotes equity and inclusion,” she says, stressing the need to integrate the gender perspective into the curriculum and promote constant dialogue on gender and leadership.

Reflecting on EGADE's role in promoting gender equality, Manfredi expresses her pride in the institution's efforts. “We are agents of change,” she declares, highlighting the School's efforts in creating spaces and connections to reduce gender gaps. Women’s visibility and recognition in different fields are vital to inspire future generations and challenge gender stereotypes.

Ocampo views the institution as a change catalyst, highlighting the importance of making women's talent visible. “As an EGADE community, we have an excellent platform to make the talent of our students visible,” she affirms, acknowledging the School's role in inspiring and projecting women's success in the business world.

Almaguer urges EGADE Business School to take an active role as a model of gender equality. “More women must be incorporated into the faculty and administrative staff,” she recommends, highlighting the value of presenting women in leadership roles as sources of inspiration for female students. The professor emerita also stresses the need to implement practical workshops to strengthen women's leadership skills and address the work-life balance.

Terán draws attention to the role of EGADE as an environment that not only discusses these critical issues but also actively seeks solutions and strategies to surmount them. Creating a workplace that respects and supports the integration of the various facets of a woman's life is essential for developing strong, resilient female leadership.

Chen highlights the School's role as a leader in promoting gender equality within the education sector. “EGADE leads the way in promoting gender equality by increasing women’s representation in key roles,” the student says, underscoring the importance of data transparency regarding the proportion of female employees as a strong example for the industry. She believes that creating a foundation dedicated to supporting women entrepreneurs is a crucial step forward. “This involves creating an association and encouraging EXATECs (Tec alumni) to contribute funds,” Chen explains, emphasizing that these resources will be essential to empower women in entrepreneurship, stimulate awareness of innovation, and develop the potential of female entrepreneurs with continuous progress and impact monitoring.

###

This special “8M: EGADE Voices on International Women's Day” encapsulates the School’s commitment to gender equality, reflected in the voices of the EGADE community. It not only celebrates the progress made but also renews the determination to move forward.