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Do women board members make a company more innovative or risk-averse? The answer is both, according to our recent study. It all depends on how the company performs relative to its goals. Professors Małgorzata Smulowitz, Didier Cossin and I examined 524 S&P 1500 companies from 1999 to 2016, measuring innovation through patent activity. Patents reflect both creative output and risk-taking. They require significant investment in novel ideas that might fail, disclosure of proprietary information and substantial legal costs. In short, patents represent genuine bets on the future. Our findings revealed a striking pattern. When companies performed poorly in relation to their goals, they produced fewer patents after more women joined their boards. However, companies exceeding their performance targets saw increased patent output as their number of women directors grew. Similarly, when companies were financially flush, there were more patents generated when their boards had more women. The situation changed when we examined radical innovations, those patents in the top 10% of citations. For these high-risk, high-reward innovations, the risk-averse effect of women board members dominated. When a companys performance fell below aspirations, there were fewer radical innovations as its board gained female members. We found no corresponding increase in radical innovations when performance exceeded goals. One finding surprised us. We predicted that boards with more women would reduce innovation when companies approached bankruptcy. Instead, it was the opposite: Boards with more women actually increased patent output as bankruptcy loomed. This suggests that women directors may fight harder for a companys survival through innovation when facing existential threats. Why it matters Between 2000 and 2024, the number of women on S&P 500 boards increased from 27% to 34%. But previous research has painted conflicting pictures on the effect that women board members may have. Some studies showed that women reduce corporate risk-taking, while others demonstrated they increase innovation and creativity. Our work suggests both perspectives are correct under different circumstances. For companies and regulators pushing for greater board gender diversity, this research provides practical guidance. Companies performing well can expect increased innovation by adding women to their boards. These directors can bring diverse perspectives, improved decision-making and better resource allocation that translate into more patents. Conversely, poorly performing companies can expect boards with more women to focus on stability over risky innovation. This isnt necessarily negative. Research shows that banks led by women were less likely to fail during the financial crisis, and companies with more women directors experience less financial distress. Reduced innovation during tough times may reflect prudent risk management rather than risk aversion. Traditional theories predict that poor performance triggers risky searches for solutions. But boards with more women appear to prioritize organizational survival over uncertain innovation when performance suffers. They may assess that failed innovation attempts could worsen an already precarious situation. This research also speaks to the glass cliff phenomenon, where women often join boards during crisis periods. Our findings suggest these directors may bring exactly what struggling companies need: careful risk assessment and focus on survival rather than potentially wasteful innovation spending. What still isnt known We measured innovation through patents, but many innovations never become patents. How women directors affect other forms of innovationsuch as copyrights, trade secrets and first-mover advantageremains unclear. What are the mechanisms driving the differences? Do women directors actively advocate for different innovation strategies? Do they change board discussion dynamics? Do they influence CEO and management team decisions indirectly? Future research needs to open the black box of boardroom decision-making. Finally, the long-term consequences need examination. We measured patent output, but not whether the patents translated into commercial success or competitive advantage. Understanding whether the innovation patterns we documented ultimately benefit company performance would provide crucial insights for decision-makers. The Research Brief is a short take on interesting academic work. Stephen J. Smulowitz is an assistant professor of strategic management at Wake Forest University. This article is republished from The Conversation under a Creative Commons license. Read the original article.
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E-Commerce
Ive worked remotely since 2006 (way before it was common). However, my days were filled with calls to colleagues and DMs to chat about everything from work to what we had planned for the weekend. Now Im a solopreneur. I have occasional calls with clients, but theyre rare. Most of my days are spent working alone. In many ways, this is great since I have the freedom to work however and whenever I want. But staying motivated when its just me requires being really thoughtful about how I work. According to a 2025 report by Leapers, nearly half of self-employed professionals feel lonely occasionally or some of the time. One in five feels lonely or isolated often or always. It can be really hard to stay motivated when youre working in isolation. You have to create your own structure and find ways to keep going without other people around. {"blockType":"mv-promo-block","data":{"imageDesktopUrl":"https:\/\/images.fastcompany.com\/image\/upload\/f_webp,q_auto,c_fit\/wp-cms-2\/2025\/11\/work-better-1.png","imageMobileUrl":"https:\/\/images.fastcompany.com\/image\/upload\/f_webp,q_auto,c_fit\/wp-cms-2\/2025\/11\/work-better-mobile-1.png","eyebrow":"","headline":"\u003Cstrong\u003ESubscribe to Work Better\u003C\/strong\u003E","dek":"Thoughts on the future of work, career pivots, and why work shouldn\u0027t suck, by Anna Burgess Yang. To learn more, visit \u003Ca href=\u0022https:\/\/www.workbetter.media\/\u0022\u003Eworkbetter.media\u003C\/a\u003E.","subhed":"","description":"","ctaText":"SIGN UP","ctaUrl":"https:\/\/www.workbetter.media","theme":{"bg":"#f5f5f5","text":"#000000","eyebrow":"#9aa2aa","subhed":"#ffffff","buttonBg":"#000000","buttonHoverBg":"#3b3f46","buttonText":"#ffffff"},"imageDesktopId":91457605,"imageMobileId":91457608,"shareable":false,"slug":""}} Design your own workday Traditional 9-to-5 hours don’t always make sense when you work alone. You don’t have to start at 8 a.m. just because that’s when your clients start working. You can work when you’re most productivebut you have to make sure you actually get stuff done during that time. For example, I still mostly follow a traditional workday schedule because I have kids, and thats when theyre in school. However, I also find that Im incredibly productive early in the morning, before anyone else is awake. I have the least energy in the evenings, so my day often ends at 3:30 or 4 p.m. Time-blocking helps create structure, even when no one is holding you accountable. I block off chunks for deep work, admin tasks, and meetings. Seeing my calendar filled in is like making an appointment with myselflike I have somewhere to be (even if that somewhere is my home office). If you’re not sure when you do your best work, track it for a week. Note when you feel focused versus when you’re dragging. Then build your schedule around when you have the most energy, not traditional working hours. Create a work mode environment When your home is also your office, it’s really easy to blur boundaries. The dishes and laundry are right there. Creating separationeven artificial separationcan help signal to your brain that it’s time to focus. Small rituals work surprisingly well. For me, its making a cup of coffee, closing the door to my home office, and putting on a specific playlist to start my morning. These are my mental switches to get into work mode. I do work only at my desk (unless Im traveling). If you don’t have a dedicated workspace, find other ways to create that boundary. Some solopreneurs work in a specific corner of a shared room or use only certain apps during work hours. You can use headphones to block distractions. The ritual is the important part, not the specifics. Work alongside other people When you work for an employer, you have some outside accountability to get your tasks done. Whether its your manager or a teammate, you know that other people are watching you (either in an office or metaphorically). When you work alone, you have to actively find ways to be around other people. Working with others can improve your focus, increase your motivation, and reduce procrastination (a concept known as body doubling). If you find it hard to stay on task while running your solo business, body doubling can make a huge difference. Virtual coworking has become popular for this reason. Platforms like Flow Club or FLOWN let you work alongside other people on video for a specific period of time (one hour, two hours, etc.). I’ve also done casual video calls with fellow solopreneurs where we just work together silently. If you join a virtual coworking session, come with a specific project or task that youd like to complete during the allotted time. If virtual coworking isn’t your thing, try working from a coffee shop, library, or coworking space occasionally. Even once a week can break up the isolation and give you a change of scenery. You still get the benefit of body doubling when youre in a room with other people, even if theyre not connected to you in any way. Make working alone work for you Working solo means you dont have a lot of external cues. You dont realize how much you rely on other people and your work environment to keep you motivated until youre on your own. Suddenly, its a random Tuesday at 10 a.m. and you have no desire to workeven with a looming client deadline. When you intentionally design your workday and find small ways to simulate accountability, motivation will follow. Youll realize that you dont need a boss, coworkers, or an office to stay on track. You just need systems that work for you. {"blockType":"mv-promo-block","data":{"imageDesktopUrl":"https:\/\/images.fastcompany.com\/image\/upload\/f_webp,q_auto,c_fit\/wp-cms-2\/2025\/11\/work-better-1.png","imageMobileUrl":"https:\/\/images.fastcompany.com\/image\/upload\/f_webp,q_auto,c_fit\/wp-cms-2\/2025\/11\/work-better-mobile-1.png","eyebrow":"","headline":"\u003Cstrong\u003ESubscribe to Work Better\u003C\/strong\u003E","dek":"Thoughts on the future of work, career pivots, and why work shouldn\u0027t suck, by Anna Burgess Yang. To learn more, visit \u003Ca href=\u0022https:\/\/www.workbetter.media\/\u0022\u003Eworkbetter.media\u003C\/a\u003E.","subhed":"","description":"","ctaText":"SIGN UP","ctaUrl":"https:\/\/www.workbetter.media","theme":{"bg":"#f5f5f5","text":"#000000","eyebrow":"#9aa2aa","subhed":"#ffffff","buttonBg":"#000000","buttonHoverBg":"#3b3f46","buttonText":"#ffffff"},"imageDesktopId":91457605,"imageMobileId":91457608,"shareable":false,"slug":""}}
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E-Commerce
The business worlds most exclusive club has always been the boardroom. For decades, it has operated as a roped-off circle of experience, where pattern recognition, war stories, and collective gut instinct guided the biggest decisions. But the most recent quarterly earnings calls and 2026 spending projections across industries from tech to finance make it clear: That era is ending. As business complexity explodes and competitive cycles compress, those old methods are showing their limits. Artificial intelligence is exposing blind spots, surfacing inconvenient truths, and rewriting how boards govern, challenge, and lead. The transformation goes beyond adding new tools and technologies to the boardroom playbook. AI is changing how directors think, what they question, and how they hold management accountable. And as AI matures, its transforming boardrooms from bastions of intuition into engines of continuous intelligence. Here are three ways that shift is unfolding, and how forward-thinking boards are adapting. Data Finally Beats Anecdotes In my experience doesnt cut it anymore. AI can process customer behavior patterns, market signals, and competitive shifts faster and more accurately than any human can. When a director recalls how a similar situation played out 15 years ago, AI can instantly test whether that approach worked then, and whether it would still work today. Leading boards are now requiring management to back up claims with AI-driven analyses alongside traditional reports. Gut instinct still has a role, but its being paired with evidence-based validation. Boards and leaders must learn to partner with AI’s analytical horsepower, even (or especially) when it feels unnatural or risk being left behind. Predictive Intelligence Forces Long-Term Thinking Boards often fall into the trap of short-termism, reacting to the last quarter rather than anticipating the next disruption. AI changes that. Predictive models can now forecast churn months in advance, identify market shifts before they appear in analyst reports, and simulate how strategic moves might play out under different scenarios. This pushes boards to engage in true foresight: asking whats next, not what happened. It extends the time horizon of governance from postmortem analysis to strategic anticipation. New Skills Are Redefining Who Belongs in the Boardroom Board composition must evolve. The traditional mix of former CEOs, financial experts, and industry veterans, valuable as they are, is no longer sufficient. Boards now need directors who understand data governance, algorithmic bias, and digital operating models. That doesnt mean replacing experience with youth, but pairing wisdom with fluency. Forward-thinking boards are addressing this through structured approaches: creating dedicated AI oversight committees, partnering long-serving directors with AI-savvy advisors, and requiring all directors to complete AI governance education programs. The goal isnt to turn every director into a technologist, but ensure that every director can think critically about AIs strategic and ethical implications. Whats Next? Boards have always made decisions based on databut until now, that data arrived slowly, selectively, and often filtered through human bias. AI changes the tempo and texture of governance. It challenges assumptions in real time. Companies whose boards resist this shift will find themselves making yesterdays decisions about tomorrows challenges. Those who embrace it will lead with sharper foresight, faster adaptation, and deeper accountability. The choice isn’t whether to embrace AI in governanceit’s whether boards will use it to lead or follow.
Category:
E-Commerce
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