Women MBAs, Entrepreneurship, and Kids

I spoke this morning to an adcom member from a leading MBA program that has a less than the typical percentage of women among its students. The adcom member explained that his school is working diligently to increase the number of women applying and attending his school. It is trying to set up a mentoring system, work with women in the corporate arena, and bring in female corporate role models.

Our conversation reminded me of an article I wrote, but did not publish. I am publishing it here, but be warned -- it is longer than a typical blog post.

Kids, 30%, and Entrepreneurship -- What do they have to do with women in management?

The evening was classy and the speakers, female current students and recent alumni, were good. The purpose: a recruiting event for prospective female MBAs sponsored by a number of top business schools. The panelists discussed admissions tactics, classes, internships, the hot jobs they were aiming for or had attained, and how they felt their MBA had enhanced or would enhance their career.

During the Q&A that followed, one prospective MBA dared to raise a subject that had seemed like an unmentionable during the entire evening: kids. She asked about attending b-school or pursuing a business career while raising children. I watched fascinated as most of the young women present nodded in agreement, and the room buzzed with relief that someone had finally brought up this issue, perhaps the issue uppermost in many of their minds. Unfortunately, none of the panel members had children, and not one could respond from personal experience.

Inexplicably, the organizers of this event had not anticipated the need to address family/work balance while attempting to increase female MBA enrollment, stubbornly stuck at roughly 30% in U.S. schools for the last twenty-five years. Business schools must be prepared to answer that question. The recent Catalyst study showed concern about the lack of balance is the second most frequently cited reason women give for not pursuing an MBA.

Another topic was barely mentioned that evening: entrepreneurship. Its absence from b-school efforts to recruit women also contributes to the schools’ failure to increase female representation. According to the Center for Women’s Business Research, there are 10.1 million privately-held 50% or more women-owned businesses in the United States. Those 10.1 million businesses represent 46% of privately held companies -- approaching parity -- and offer opportunity to b-schools if they too want to achieve the Holy Grail of parity.

Business schools don’t exclusively prepare students for rigid corporate careers; they also train MBAs for entrepreneurship, which frequently provides greater flexibility and a richer family-work balance. Business schools should highlight and market this invaluable training and the flexibility it can bring as they strive to attract women and demolish that 30% barrier.

I am acutely aware of the value of an MBA in starting my own business. I earned my MBA from UCLA’s Graduate School of Management (today the Anderson School) in 1979.  When I started my business in the early 1990’s, I had six children, ranging in age from 3 to 12.  My independence gave me the variable hours I craved. The ability to schedule my work times around my children’s school hours, limit hours initially, and ultimately increase them as my children (and business) grew was critical to me.  My MBA played a leading role in my business’ success and in my ability to balance, usually, the demands of family and work.

So yes, Accepted.com is one of those 10.1 million women-owned businesses, and I am an MBA who has defied the stereotypes in pursuing my personal and professional goals. I urge the MBA establishment and young women considering an MBA to look beyond the corporate landscape. Explore the infinite possibilities for women and business schools in entrepreneurship.

Comments

[MR]

There was a great Knowledge@Wharton article about Rebecca Matthias who actually turned motherhood into a fulltime job, developing a very succesful line of businesses:
http://knowledge.wharton.upenn.edu/index.cfm?fa=viewArticle&ID=883

[Linda Abraham]

THank you for providing this reference. It's an inspiring story. And again highlights the entrepeneruial opportunities for all MBA's, but highlights a successful female rolemodel.

This article doesn't, however, discuss the challenges Matthias faced balancing the needs of her business and her family when her children were young. And I don't think she's an MBA. But I still think her example has a lot to offer young women considering career alternatives today.

I also completely agree that a supportive spouse or significant other is critical when starting a new business.

[Aejaz]

Dear Linda

Just stopped by to say hi. Read some posts here.
As I had expected, the blog is very professional and full of information.

We hope to do something like this soon. :)

Sincerely
Aejaz
GMATClub.com

[Linda Abraham]

THanks for stopping by and for the positive feedback.

[Laura]

MR, there is a new movie "She Hate Me" about Wharton grad who turned "fartherhood" into a fulltime job. See http://www.blackfilm.com/20040416/features/shehatemesneakpeak.shtml for more information.