Beyond Social Enterprise: How Female Entrepreneurs Drive Social, Economic, and Environmental Good

Session Submission Type: Panel

Short Description

Are female entrepreneurs more altruistic than their male counterparts? Research says yes. In this engaging and powerful panel, we explore how female leaders weave social good into their organizations and the impact they drive for their communities, employees, and other stakeholders. The panel features six female CEOs from construction, medical, consulting, manufacturing, education, and hospitality industries, moderated by a female founder of an executive coaching firm specializing in entrepreneurs. The panel will explore the grand and small ways female entrepreneurs drive greater good and ask: how do we take what we learn and amplify the impact?

Detailed Abstract

Studies in gender differences in leadership suggest women and men have different leadership motivations: female entrepreneurs are likely to rate higher in altruism. Given the gender differences in entrepreneurial motivations as established by several studies (Chamorro-Premuzic, Rinaldi, Akhtara, & Ahmetoglu, 2014; Davies, Broekema, Nording, & Furnham, 2017) this panel will explore the ways in which female entrepreneurship impacts the communities and stakeholders their organizations serve and what can be learned for further application and study.

Forty percent of US businesses are owned by women, and female owned businesses grew 58% between 2017-2018 (Small Business Trends Report, 2020). This means the different leadership motivations may have significant implications. Despite this, in 2019, female founders received less than 2.8% of Venture Capital investments (Pitchbook VC Female Founders Dashboard, 2020). Understanding that female leadership and entrepreneurship within traditional industries, beyond social enterprises, can drive more pro-social, pro-environment, and beneficial outcomes for both communities and employees, how can we elevate the conversation to further promote and encourage female entrepreneurs? What can we learn about how they operate in order to study how these practices can be woven into leadership practice for all?

To address those questions, we bring an all-star panel of founders and CEOs, each a PhD candidate who has completed the Hogan profile and fit the pattern of high altruism scores coupled with strong altruistic behaviors (Hogan Assessment Systems, 2011) in their day-to-day operational leadership as validated by formal Hogan assessment and qualitative screening. Participant industries and backgrounds:

Aleen Bayard, Founder and CEO of Aleen Bayard Transformative Consulting. For over 21 years, her firm has provided strategic communication and organizational development consulting to a diverse client base.

Teresa Johnson, Founder and CEO Phoenix Boats. Founded in 2007, Phoenix Boats is a premier fiberglass bass boat manufacturer with a national and international distribution network and has become known as one of the industry leaders in quality and innovation.

Patty Lindstrom, CEO and Founder Living the Brand Academy, Innovation Foundry. Founded in 2016, the organization works with leaders and their teams to create purpose driven, human centered business models focused on strategy and innovation.

Dr. Jeanie C. Lucy, President and CEO of Professional Eye Centers, with three primary eye care centers located in Illinois. As a public health optometrist, Lucy’s clinics have a strong interdisciplinary approach to optometric medicine including early diagnosis, treatment and prevention of the debilitating effects of glaucoma.

Gloria Carney Shealey, President & CEO, The Daniele Company, an African American, woman-owned, commercial construction firm in Durham, NC with a portfolio of over $560 million in completed projects across diverse industries over the past 12 years.

Kellie Vander Veur, Founder and CEO Double V Restaurants, Inc. McDonald's Owner/Operator of 10 locations, employing 500 + team members. Board member Ronald McDonald House, integrated coaching and training into day-to-day operations.

The panel will be chaired by Laura J. Sanchez-Greenberg, a Ph.D. candidate and executive coach. She is the founder and managing partner of Verde Associates, an organizational development firm specializing in entrepreneurs and growth-stage companies.

Some of the questions the panel discussion will explore:

- Research has shown that women often have higher altruism drivers in entrepreneurial endeavors (Orhan & Scott, 2001). In what ways do women’s higher altruism (desire to help others, concern for the less fortunate, public good) and affiliation (valuing frequent and varied social contact) (Hogan Assessment Systems, 2011) impact how they initiate entrepreneurial endeavors and in how they lead them day-to-day?
- What rewards/incentives exist in today’s landscape for these behaviors?
- What are the real economic and other impacts of these high-altruistic management, leadership, and operational practices? What needs to be studied?
- Why is this different across gender? What can we learn to inform broader study of leadership and ideation?
- Female entrepreneurs today are considered key drivers of economic growth across the world. Given this and women’s preferences in motivation towards altruistic pursuits, both in grand and daily pursuits, how may we better harness the potential of women entrepreneurs to bring about social, environmental, and other needed societal changes?
- One of the challenges in bringing broad range social change on topics such as environmentalism is that often, people believe their day-to-day “small actions” will not drive impact. Yet, female entrepreneurs tend to weave altruistic/greater good behaviors into many operational and small decisions in their businesses. What drives these choices and what impact do they have?
o What can we learn about how these decisions are made to bring to the broader issues our world is facing?

Attendees to the panel will leave with new ways of thinking about their own day-to-day leadership and decisions within their organizations, and further questions to drive study and discussion. There will be opportunity for audience participation in the discussion.

Sub Unit

• Business Leadership

Chair

• Laura J Greenberg, Verde Associates, LLC; PhD Candidate, Center for Values Driven Leadership, Benedictine University

Presenters

• Aleen Bayard, Transformative Consulting

• Teresa A Johnson, Phoenix Boats

• Patty Lindstrom, Living the Brand® Academy, holding company Creative Logic, Inc.

• Jeanie Christine Lucy, Midwestern University

• Gloria Carney Shealey, The Daniele Company

• Kellie Ann Vander Veur, Double V Restaurants, Inc.; PhD Student, Benedictine University