3 Rotman Grads Named Canada’s Most Powerful Women
If there’s one thing that everyone can agree on, it’s that women are necessary for business. In fact, companies with a female on the board of directors, on average, have a 53 percent higher return on equity. The issue is that though women represent 47% percent of the workforce, they only represent 17 percent of boardrooms, and 4.8 percent of CEOs among the Fortune 500 companies, according to the Forté Foundation.
That’s why University of Toronto’s Rotman School of Management has made it a priority to promote women in business. And their efforts have recently been rewarded with both a Rotman professor and two alumni named to the Women’s Executive Network (WXN) list of Canada’s Most Powerful Women for 2016. The list featured 100 women in total, including several graduates of the Rotman School’s Judy Project and Executive Programs. Continue reading…
Forté Foundation Launches New Men as Allies Initiative
Reaching gender equity on business school campuses is far from just a women’s issue, which is precisely why the Forté Foundation is calling on men to get involved. Drawing on successful programs already underway on campuses spanning from Harvard Business School (HBS) to Stanford Graduate School of Business, Forté today announced its new Men as Allies Initiative. It is designed to invite and encourage male students to get involved in a growing movement toward gender equity in business school classrooms and the broader business world.
The idea for the new initiative grew out of a session with sponsors at Forté’s annual conference focused on HBS’s Manbassadors ally group, according to Forté Executive Director Elissa Sangster. Forté is a non-profit consortium of leading corporations and top business schools committed to helping women lead fulfilling careers in business. “We started talking with our sponsors about how Forté could support similar initiatives at our member schools’ campuses,” she says. “We began to brainstorm about what we could provide so it didn’t end up that every time someone wanted to do this they had to call the Manbassadors and ask them the same questions over again.”
Forté recognized at least ten top business school campuses that already have male ally programs in place. HBS, Kellogg’s Northwestern School of Management and Duke’s Fuqua School of Business led the charge, forming their groups in 2013. The following year, UCLA Anderson, Michigan’s Ross School of Business, the University of Pennsylvania’s Wharton School and Stanford GSB got with the program. In 2015, Columbia Business School and NYU Stern joined in, and London Business School (LBS) created its own club earlier this year. Calling themselves everything from Manbassadors (Anderson, HBS, LBS, CBS) to WiMEN (Stanford) to the 22’s (Wharton, a reference to the 22 percent gain necessary to close the gender pay gap), the groups work in partnership with women’s business organizations on campus to adopt behaviors that support gender equity in classroom discussion and beyond.
Conducting focus groups with existing groups, Forté began to collect information on what has been successful, what pitfalls and challenges can be avoided and what types of events and activities best serve to open up dialogue. “We also conducted external environmental research, identifying inspirational role models and people leading the charge in the business world,” Sangster says.
The new Forté Men as Allies Initiative is designed to provide potential male allies at schools that don’t already have existing groups with the tools they need to establish their own Manbassador-type groups. As part of the new initiative, Forté has launched a new “Men as Allies” website featuring a toolkit geared toward male students that includes reasons to start a group, steps to follow to do so and information on activities and events that have been successful on other campuses. “Our hope is that as men graduate from MBA programs, they are able to take some of these skills they have been developing and look for ways to engage in the workforce and make that impact even more widespread,” Sangster says.
A Tipping Point
There has been a growing movement in recent years to enhance gender equity in business and society, evidenced by the United Nations’ HeForShe initiative, Catalyst’s Men Advocating Real Change (MARC), and the White House’s Let Girls Learn program. In summer 2015, the 47 business school leaders convened at the White House specifically to address the gender imbalance among MBA classes. In addition to male ally groups, many business schools also feature school-wide initiatives designed to tackle gender equity at the cultural, academic and admissions levels, such as the Gender Equity Initiative (GEI) at UC Berkeley’s Haas School and the HBS Gender Initiative.
“We may have reached a tipping point as more women are pursuing an MBA and more men are interested in supporting gender equity,” Sangster continued. “While we are making great progress, and getting closer to 40 percent women’s enrollment at our member business schools, initiatives like this one that foster inclusiveness, will help us get to gender parity faster.”
Carnegie Mellon University’s Tepper School of Business, Cornell’s Johnson Graduate School of Management and Georgetown’s McDonough School of Business provided generous financial support of Forté’s new initiative, and diversity experts Anne Weisberg and Lisa Levey, among others, contributed to its development.
Sangster points out that there are multiple benefits for men who get involved in gender equity initiatives. “It gives them insight and information and resources to use in developing their own leadership styles and creating their own perspective on what’s important not only to advance women in the workforce but also just to be a well-rounded advocate and manager of talent in their organizations,” she says. “It’s really about fine-tuning their leadership perspective and leadership skills. Business school is a safe place to stretch your muscle in this area and think hard about the kind of leader you want to be and how to become that leader.”
Foster Difference Fund Increases Diversity
According to UW Today, the 2016 University of Washington fall class was the most diverse yet. The university welcomed 976 underrepresented students, a new record number. But that’s not the only place where the university is encouraging diversity. The Foster School of Business also promotes diversity, and thanks to the Foster Difference Fund, the school was recently able to launch a few new initiatives and partnerships to help them reach their goal of inclusiveness. Continue reading…
Deadline for ’17 Forté MBALaunch Program for Women Extended to Nov. 11th
Great news. If you are a woman planning to apply to business school next fall—for enrollment in fall 2018—there’s still time left to take advantage of a great program from the Forté Foundation designed to help you craft the strongest application possible.
Forté recently announced that it is extending the deadline for applications for its 2017 Forté MBALaunch Program until Nov. 11, 2016. MBALaunch is a comprehensive 10-month program to guide promising female MBA applicants through each step of the application process, providing both a proven roadmap and an unparalleled support network to help you gain admission to your top school. Created by the Forté Foundation, it is designed to support the organization’s mission of increasing women’s access to business education and the business world at large.
MBALaunch applications are currently being accepted for women seeking to apply to MBA programs in fall 2017 (for enrollment in fall 2018). The deadline to submit is Nov. 11th. To be considered for MBALaunch, you must have a bachelor’s degree and demonstrate solid academic standing. Post-undergrad work experience—between two and seven years—is also preferred.
The MBALaunch program begins with a day-long kick-off event in major cities throughout the United States, Canada and the United Kingdom, followed by online webinars, advisor meetings and monthly in-person peer group sessions in your host city. Host cities include Boston, Chicago, Houston, Los Angeles, San Francisco, London and Toronto, and the kick-off events will take place in late January and February.
Interested applicants who do not live in or near one of the MBALaunch program cities can still take part as long as they agree to travel to the closest city to attend the kick-off event in person. After this first event, these participants will join the MBALaunch “Virtual City” group for the rest of the program.
How the Program Works
MBALaunch brings together hundreds of prospective female MBA applicants, creating a valuable network of peers who share the same goals. Intensive GMAT test prep is baked into the program, helping women conquer what many report is one of the greatest obstacles to applying. Two months of GMAT test-prep webinars target the most difficult testing areas, helping Launchers improve their scores and strengthen their candidacy.
The eight remaining months of the program are devoted to helping Launchers build their strongest possible MBA applications. Participants receive valuable feedback on essays and résumés from MBA alumnae. They also get to work closely with admissions consultants, business school representatives and Forté experts to hone their admission interview skills. Along the way, Launchers also learn about resources for financing their MBA and grow both their network of MBA alumnae and their networking skills.
The cost of MBALaunch is $500 (plus travel to the closest program city for the kick-off event if you don’t live in one). Compared to admissions consulting fees and GMAT test prep courses that can run several thousand dollars, believe us when we tell you it’s a steal. Not only that, participants who successfully complete the program receive application waivers from more than 25 Forté schools, as well as discounts from leading GMAT test prep providers and admissions consultants if you feel you still need more preparation. In total, these offers allow you to recoup the entire $500 cost.
How to Apply
Okay—so how do you apply? Complete an online application form, pay a $25 application fee and submit your resume along with answer to two essay questions. The final deadline round, just extended from October 30th to November 11th, applies to applicants for all cities.
Learn more about the Forté MBALaunch program.
This post was originally published by clearadmit.com
An In-Depth Look at the Forté Foundation for Women MBAs
According to Catalyst.org, women make up only 36.5 percent of MBAs earned in the United States. Even worse, a landmark study by the University of Michigan Business School revealed that women make up less than 17 percent of corporate board members in America’s 500 largest companies. The Forté Foundation is working to change those numbers. It’s a non-profit consortium dedicated to launching women into fulfilling, significant careers through access to business education, opportunities and a community of successful women leaders. Continue reading…
Women Leaders of the Smith School Speak at Forté MBA Women’s Leadership Conference
On June 20, two expert businesswomen from the Robert H. Smith School of Business, Elana Fine and Vice Dean Joyce E.A. Russell, discussed the importance of speaking up and asking for more at the Forté MBA Women’s Leadership Conference in Washington, D.C.
Fine moderated a keynote panel on empowering women entrepreneurs. Continue reading…
