Women Leaders, Your Time is Now
COMDEX, Las Vegas
November 12, 2001

I am delighted to be here this morning, joining a group of distinguished women leaders. They are a testament to how far women have come, and to the extraordinary contributions women have made in all aspects of American life.

I want to begin by putting the challenges and opportunities women leaders face in the New Economy into historical perspective. The path each of us walks today was paved by great women leaders who succeeded in field after field. Just think, it has been only 34 years since the first woman, Muriel Siebert, became a member of the New York Stock Exchange. 25 years ago, Barbara Walters became the first female network evening news anchor. 20 years ago, Sandra Day O’Connor became the first woman appointed to the Supreme Court. 18 years ago, Sally Ride became the first American woman in space. In 1997, Madeleine Albright became the first woman appointed U.S. Secretary of State, the highest ranking woman in the U.S. government.

There’s no doubt that “we’ve come a long way baby.” Across our society—in business, education, government, health care, and in many other areas—women are taking their rightful places in fields once dominated by men.

	“we’ve come a long way baby.”

But there is one area where women have not made substantial progress, and it is of great concern to all of us who care about women’s leadership. That area is technology, and the problem is simple to understand. Women are woefully under-represented in fields involving technology development and commercialization. For example, only 26% of America’s computer programmers are women, and only 10% percent of working engineers are women. In fact, there are more women serving in the clergy (13.8%) than working as engineers. Most important for our discussion today, women have barely penetrated the top ranks of technology-based businesses. A recent study found that women executives comprise just 2 percent of women working in high technology companies. I assume everyone in this room agrees with me that we must turn this situation around. And ensuring that all women have the opportunity to develop their leadership skills is critical to women achieving their full potential in high tech business.

	“there are more women serving in the clergy (13.8%) than working as engineers”

There has never been a better time for women leaders in the high tech business world. Technical knowledge and skill are in high demand, despite this year’s economic downturn, and the long-term prospects are bright. As the world becomes increasingly competitive, and technology market opportunities grow, what the business world will care about most is the potential of an idea or technology, and the skill with which executives can exploit it.

Women’s skills are tailor made for the demands of the New Economy. For example, communications skills are now recognized by most businesses as critical to their success. And women are good communicators. Technology companies today are leaner, with flatter management structures, and fewer in-house resources to accomplish business goals. These companies depend on outsourcing non-core functions, and strategic alliances for their survival, so they place a premium on flexibility and collaboration. Most important, the innovation process requires great creativity, flexibility and teamwork. Women are creative thinkers. We thrive on changing goals, tolerate ambiguity well, are highly flexible and collaborative, and see problems in new and refreshing ways—all characteristics high tech businesses need to fuel their success in highly competitive, rapidly changing global markets.

	“Women's skills are tailor made for the demands of the New Economy.”

Over the past few years, I have had the privilege of leading two very different organizations. For several years, I served as a Presidential appointee, advising four Secretaries of Commerce on technology and competitiveness issues. I also led a multi-million dollar Federal agency charged with promoting high tech business and American innovation. The challenges confronting me in that position included: yo-yo budget cycles (some years we were up; most years we were way, way, way down); a highly charged political atmosphere; unclear and shifting lines of authority and influence; competition among policy makers for leadership on important issues; and a major battle with Congress over the elimination of my office and the entire Commerce Department. Success required developing and articulating a compelling vision for the contribution of our agency to economic growth and competitiveness, collaboration, constant adaptation to a rapidly changing and unpredictable environment, and leadership by persuasion.

	“I am very excited to be part of a large and growing group of women who are choosing to seize the opportunities of the New Economy and launch their own businesses. A recent study reported that there are more than 9 million of us in the United States.”

This year, I founded my own company, TechVision21. We are a one stop shop for technology companies seeking to identify business partners, forge strategic alliances, and overcome obstacles to success created by laws, regulations and government policies that shape today’s business landscape. We cut through the red tape so companies can focus on innovating and competing. We also help technology companies navigate Washington, and represent their interests before the White House and Congress. Being an entrepreneur has brought a whole new set of leadership challenges, including developing a corporate vision and identity, recruiting business partners who share and support that vision, and learning how to stand out from the crowd. I am proud to say that we landed our first big contract last week, and that the TechVision21 web site was launched today at COMDEX. I am very excited to be part of a large and growing group of women who are choosing to seize the opportunities of the New Economy and launch their own businesses. A recent study reported that there are more than 9 million of us in the United States.

To sum up, trying to lead a large organization is very hard work, and new challenges come your way every day. At the risk of over-simplifying a very complex set of issues, here are some of the big picture principles that I think are critically important:

• Develop a compelling vision for the organization, and communicate that vision clearly to people inside and outside your organization. Work hard to motivate and inspire others to embrace your vision. Lead by example.

• Understand your strengths and limitations—yours personally and those of the organization. Create competitive advantage by playing to your strengths, and seeking out others whose knowledge and skills complement and enhance your own skills.

• Assemble the best team possible. Nurture your people, and cultivate their success. More importantly, listen to their advice and counsel. Invite and reward candor. Give your key players latitude to grow as leaders and take on more challenging assignments. The legendary Jack Welch, 20 year CEO of General Electric said, “My main job was developing talent. I was a gardener providing water and other nourishment to our top 750 people.”

• Think strategically. Never lose sight of the big picture. Even when you are solving a myriad of day to day problems, do not lose sight of what you are trying to achieve in six months; a year; five years.

• Be alert to changes in your environment that demand changes in your strategy or tactics. Flexibility and adaptability are key to success in the New Economy. I have often developed a plan on Monday that had to be revised on Tuesday, and then again on Wednesday, as new information emerged.

• Seek win-win opportunities. Seek to understand what the other party to any transaction needs and wants to achieve—whether that party is an employee, your boss, a supplier or business partner. Find ways you can both achieve your goals.

	"And last, but most important, do the things your parents taught you. Be honest, admit when you make a mistake, don’t make promises you don’t intend to keep, and treat others with respect"

• And last, but most important, do the things your parents taught you. Be honest, admit when you make a mistake, don’t make promises you don’t intend to keep, and treat others with respect—whether they are peers, superiors, subordinates, the people who deliver the mail, or the janitorial staff. We’ve all worked with people who behave very differently toward their superiors than to their subordinates, or who try to lift themselves up by putting others down. In my view, these people are not leaders.

In closing, I believe strongly that the true mark of a leader is how one behaves in a crisis. Since September 11, we have seen extraordinary examples of leadership from which we can all learn and draw inspiration. For example, Rudy Guiliani has remained calm, unflappable and rock solid in the face of unspeakable horror. He has most impressed me with his willingness to admit that he doesn’t have all the answers.

There also have been many leaders in the corporate world. For example, Ken Chenault, CEO of American Express, who quickly evacuated the American Express building at ground zero, saving hundreds of lives, then immediately moved to help over 500,000 stranded AmEx cardholders get home, including chartering airplanes and buses, and giving customers access to emergency cash.

There are also stories of mid-level executives, who after evacuating the World Trade Center, had the presence of mind to arrange for office space, furniture, information technology and telecommunications equipment, so their companies could re-open in temporary quarters within a few days.

I certainly hope and pray that most of us will never face a crisis of this dimension, but I know that each of us in leadership positions will be challenged, frustrated, and stretched beyond our knowledge and experience. When the time comes, I hope that we will all be able to rise to the challenge.

Thank you.