Realizing Sustainability Through Diversity : The Case for Gender Diversity Among Sri Lanka’s Business Leadership
This report makes the case for greater gender diversity on Sri Lanka’s corporate boards and in senior management by highlighting the value propositions of such diversity for companies, communities, and ultimately the country. Diversity is about mor...
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| Format: | Report |
| Language: | English en_US |
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World Bank, Washington, DC
2022
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| Online Access: | http://documents.worldbank.org/curated/en/795301594621035366/Realizing-Sustainability-Through-Diversity-The-Case-for-Gender-Diversity-Among-Sri-Lanka-s-BusinessLeadership http://hdl.handle.net/10986/37866 |
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okr-10986-378662022-08-15T20:46:24Z Realizing Sustainability Through Diversity : The Case for Gender Diversity Among Sri Lanka’s Business Leadership International Finance Corporation GENDER DIVERSITY BUSINESS LEADERSHIP FINANCIAL PERFORMANCE DECISION MAKING ENHANCED STANDARDS COMPETITIVENESS SUSTAINABILITY This report makes the case for greater gender diversity on Sri Lanka’s corporate boards and in senior management by highlighting the value propositions of such diversity for companies, communities, and ultimately the country. Diversity is about more than just gender, ethnicity, or religion. However, this report focuses primarily on promoting gender diversity in the workplace, particularly in the corporate boardroom and among senior management. Empirical evidence from around the world shows the importance and value of gender diversity in improving firms’ overall performance, including but not limited to financial performance. Gender diversity among business leaders typically leads to better decision-making processes and better monitoring and strategy involvement. The business case for gender balance at the top goes beyond financial performance. Extensive research shows that having more women in business leadership positions leads to higher environmental, social, and governance standards, with a particularly clear connection when women achieve a critical mass of about 30 percent on company boards. Companies with enhanced environmental, social, and governance standards also perform better on critical metrics: stronger internal controls and management oversight, reduced risk of fraud or other ethical violations, positive workplace environment, greater stakeholder engagement, and improved reputation and brand. Therefore, having a more gender-balanced board and leadership team contributes to stronger environmental, social, and governance performance, which, in turn, leads to better business performance. Ultimately, diversity is about ensuring companies’ competitiveness, performance, and long-term sustainability. 2022-08-10T15:43:35Z 2022-08-10T15:43:35Z 2022-03 Report http://documents.worldbank.org/curated/en/795301594621035366/Realizing-Sustainability-Through-Diversity-The-Case-for-Gender-Diversity-Among-Sri-Lanka-s-BusinessLeadership http://hdl.handle.net/10986/37866 English en_US CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo International Finance Corporation World Bank, Washington, DC Economic & Sector Work Economic & Sector Work :: Women in Development and Gender Study South Asia Sri Lanka |
| repository_type |
Digital Repository |
| institution_category |
Foreign Institution |
| institution |
Digital Repositories |
| building |
World Bank Open Knowledge Repository |
| collection |
World Bank |
| language |
English en_US |
| topic |
GENDER DIVERSITY BUSINESS LEADERSHIP FINANCIAL PERFORMANCE DECISION MAKING ENHANCED STANDARDS COMPETITIVENESS SUSTAINABILITY |
| spellingShingle |
GENDER DIVERSITY BUSINESS LEADERSHIP FINANCIAL PERFORMANCE DECISION MAKING ENHANCED STANDARDS COMPETITIVENESS SUSTAINABILITY International Finance Corporation Realizing Sustainability Through Diversity : The Case for Gender Diversity Among Sri Lanka’s Business Leadership |
| geographic_facet |
South Asia Sri Lanka |
| description |
This report makes the case for
greater gender diversity on Sri Lanka’s corporate boards and
in senior management by highlighting the value propositions
of such diversity for companies, communities, and ultimately
the country. Diversity is about more than just gender,
ethnicity, or religion. However, this report focuses
primarily on promoting gender diversity in the workplace,
particularly in the corporate boardroom and among senior
management. Empirical evidence from around the world shows
the importance and value of gender diversity in improving
firms’ overall performance, including but not limited to
financial performance. Gender diversity among business
leaders typically leads to better decision-making processes
and better monitoring and strategy involvement. The business
case for gender balance at the top goes beyond financial
performance. Extensive research shows that having more women
in business leadership positions leads to higher
environmental, social, and governance standards, with a
particularly clear connection when women achieve a critical
mass of about 30 percent on company boards. Companies with
enhanced environmental, social, and governance standards
also perform better on critical metrics: stronger internal
controls and management oversight, reduced risk of fraud or
other ethical violations, positive workplace environment,
greater stakeholder engagement, and improved reputation and
brand. Therefore, having a more gender-balanced board and
leadership team contributes to stronger environmental,
social, and governance performance, which, in turn, leads to
better business performance. Ultimately, diversity is about
ensuring companies’ competitiveness, performance, and
long-term sustainability. |
| format |
Report |
| author |
International Finance Corporation |
| author_facet |
International Finance Corporation |
| author_sort |
International Finance Corporation |
| title |
Realizing Sustainability Through Diversity : The Case for Gender Diversity Among Sri Lanka’s Business Leadership |
| title_short |
Realizing Sustainability Through Diversity : The Case for Gender Diversity Among Sri Lanka’s Business Leadership |
| title_full |
Realizing Sustainability Through Diversity : The Case for Gender Diversity Among Sri Lanka’s Business Leadership |
| title_fullStr |
Realizing Sustainability Through Diversity : The Case for Gender Diversity Among Sri Lanka’s Business Leadership |
| title_full_unstemmed |
Realizing Sustainability Through Diversity : The Case for Gender Diversity Among Sri Lanka’s Business Leadership |
| title_sort |
realizing sustainability through diversity : the case for gender diversity among sri lanka’s business leadership |
| publisher |
World Bank, Washington, DC |
| publishDate |
2022 |
| url |
http://documents.worldbank.org/curated/en/795301594621035366/Realizing-Sustainability-Through-Diversity-The-Case-for-Gender-Diversity-Among-Sri-Lanka-s-BusinessLeadership http://hdl.handle.net/10986/37866 |
| _version_ |
1764488018475876352 |