According to a recent study run by Frost & Sullivan entitled “The Next Frontier of Growth—Women as Corporate Customers”, the women in business panorama is changing.
Although the world of work still puts women at a disadvantage in terms of earnings, responsibility and growth prospects, it appears that the situation is at a crossroads.
International research findings suggest that women will account for 40% of all entrepreneurs by 2020. Women’s earnings are predicted to reach $24 trillion by the same year, while the number of women at board-level positions in the biggest companies is expected to grow exponentially.
And while a turning point may indeed be coming, there are already large numbers of companies were women hold executive leadership positions. In Norway, women account for 40% of all positions of power in companies, while in Russia 45% of managerial positions are held by women (versus a global average of 24%).
Russia is an example of best practices when it comes to women in business, with the country also holding the record for country with the most women in leadership positions in the world. An interesting trend is emerging from the country in terms of how Russian women are cultivating their talent and ensuring they receive comprehensive, well-structured training.
Russia’s female management prospects are increasingly opting to study for an MBA.
In Russia, over 50% of business school applications in 2014 came from women, who are seemingly taking the bold decision to inject real impetus into their careers and adopt a more cosmopolitan mindset.
Considering the fact that the standard of training available in Russia can still come up short, it is little wonder that the number of young female management prospects leaving to study at prestigious international business schools is on the up – especially in Europe.
One of the most popular destinations is Milan, a city made all the more appealing by MIP. Tatiana Konovalova, a former tech industry professional, is one budding businesswoman who identified MIP as the perfect place for her to receive a solid managerial education, relaunch her career, switch industries and climb the employment ladder.
Asked for the three main reasons that encouraged her to apply for an MBA at MIP, Konovalova lists her own appetite for growth, the quality of teaching on offer at the world-renowned business school and her desire for an international experience in a place steeped in culture and alongside fellow professionals hailing from all four corners of the globe.
Once her studies were over, Konovalova wasted little time in returning to Russia, where she found that having an MBA from an international business school “was a big advantage in the application process”. The qualification helped Konovalova to set herself apart as a professional with a managerial mindset – a responsible, organised person capable of thinking innovatively.
Konovalova soon switched sectors from technology to fashion, first, and later cosmetics. Today, she holds a prestigious role in research and innovation at a leading Russian retail chain.
So, if women really do still have to do more than men to prove their deserve their place, an MBA is the perfect way of settling the debate once and for all.