Investing in businesswomen will boost the economy for everyone, Chief Justice Ma. Lourdes Sereno told business leaders on Saturday.
Speaking at the APEC Business Advisory Council (ABAC) Women’s luncheon, Sereno said women’s role in business is vital, citing a positive link between women in leadership and business performance.
“Women view business as extension of their selves, families, and communities,” Sereno told business leaders.
“Women can make employees feel that enterprise is a family, and you will do everything you can to save your family, sacrifice,” she added.
Citing “glass cliff phenomenon,” the chief justice said that women are best to address crises.
“There is something about the female style of management that must be recognized by mainstream business documents regarding economic structures,” she said.
“Between earning and maximizing profits, a woman business owner would prefer to forego maximizing profit to maintain work-life balance,” she added.
Sereno also cited surveys showing that female judges tend to be less prone to corruption than male judges.
“Women judges shun the night life. They usually proceed to attend to family or community responsibilities after work,” she said.
“The struggle to clean the ranks of judiciary is more winnable with women being in strong leadership positions,” she added.
On one hand, Sereno lamented that not enough women are being developed to be business leaders.
“Do we now need to restructure parts of our economy or business models to increase women leadership? I strongly feel yes,” she said.
Citing the country’s labor law, Sereno called for flexibilities in the way businesses are being run.
“The Philippine business system is so hierarchical. But women use relationships, team effort to run business. Laws don’t acknowledge that,” she said.
Sereno then asked business leaders to push for “more transparency and fair playing field for both men and women”, and respect individual choices.
“You can shape traditional thinking so women’s unique abilities,” Sereno told ABAC leaders.
“I look at ABAC as having the ability to help APEC leaders break out from the staleness of the state-to-state discussions.. I was hoping ABAC among other private organization would do that,” she added.