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Mistresses of big business explain how they cope

On Wednesday night, businesswomen will be lauded at a black-tie bash hosted by the Executive Women's Club of SA.

The occasion is to announce the 1997 winner of the Businesswoman of the Year Award, a prestigious title. Past winners include Pam Golding, Wendy Lucas-Bull and Dawn Mokhobo.

This week I put some questions on attitudes and personal finance to the four nominees for the 1997 award. The nominees are:

Dr Patricia Gorvalla, managing director of the Gorvalla Group of Companies; Ann Pappenheim, Fist tax advisory partner of accounting firm Deloitte & Touche; Bronwen Phillips, managing director of Fridge Master SA Ltd; and Karen Steinberg, managing director of Businessland and OfficeMart.

1. Do you still encounter sexist attitudes in the business world? If so, how do you overcome them?

Quite surprisingly, two of the four said they no longer encountered sexist attitudes (they did in the bad old days).

GORVALLA noted that being an entrepreneur with many years of experience behind her had probably made her less vulnerable than other women to such attitudes.

Only PAPPENHEIM said she still encountered archaic attitudes, but added that it happened less frequently "as one becomes better known".

I have to agree about the recognition factor - it is a welcome relief to be credited with at least some knowledge, and not to be called "my dear" or "young lady" every second day .

There is no doubt, however, that many women continue to face sexist attitudes. Here are some of the ways the nominees have used to overcome them:

  • Demonstrate your technical competence and an independent personality - know that you deserve respect on a personal and professional level;

  • Sexist attitudes should be dealt with head-on or used to your advantage, that is to throw people off-guard, which results in a lowering of defences which then puts you in a position of strength; and

  • Use facts and results to earn credibility. If you do what you say you are going to do, no one will mind which sex you are.

    2. Any tips on how to achieve the balance between a high-pressure job and raising children?

    Two nominees marked the not applicable space. Here are the comments of the other two:

    GORVALLA: "Give your children quality time and you can burn the candles at both ends after they're asleep.

    "Encourage your children to become independent and to develop their own identity and interests."

    PHILLIPS: "Sacrifices will have to be made, but delegation and quality time will come into play as each part of your life will be pre-planned and organised.

    "You'll probably be a better mother as both your career aspirations and maternal instincts will be satisfied."

    3. What is your advice to young women starting out on their careers?

    The American popular phrase, "Go girl", just about sums up the views of the nominees. Here are their comments:

    GORVALLA: "Acquire the necessary skills and knowledge in an area which you find stimulating and exciting.

    "Draw on the experience and expertise of men and women as mentors and role models."

    PHILLIPS: "Your reaction to the market you deal in will determine your success - not the market's reaction to you.

    "Always dedicate yourself to your customer's success."

    PAPPENHEIM: "Assume that either from choice or necessity you will have a full working life, and aim to maximise your job satisfaction. The greater your skills, experience and talent, the better position you will be in to achieve such satisfaction, regardless of your personal circumstances."

    STEINBERG: "The world is your oyster and there are no limiting factors. A woman can perform any job (within physical strength limits) and no young woman should set self-imposed restrictions.

    "At the same time, women should enter the workplace with confidence and self-esteem, not drawing undue attention to the 'plight of women', but focusing on how they can learn, develop and add value to their workplace, thereby enhancing their career development."

    4. Do you have a financial adviser or do you invest your money yourself?

    Two of the four employ financial advisers.

    STEINBERG says she and her husband consult an adviser, because they believe in using experts where risk and money are involved.

    GORVALLA invests her money herself, but relies on the advice and skills of her auditors.

    5. Do you have a special savings/ investment tip to share?

    GORVALLA and PHILLIPS both advised investing in an area or business which you understand and have some interest in, because then you should know what risks are involved.

    PAPPENHEIM: "Be very clear about your long-term aims and needs - and find out what is in it for the salesperson. I have seen too many inappropriate insurance policies which do not fill the needs of the investor, or which have lapsed once the details of the policy have become clear."

    STEINBERG: "I have found some of the newer unit trust funds with high growth potential to be very exciting. I try and achieve a balance between higher risk, higher-return investments and 'safer', more stable, lower-return investments.

    "One has to monitor investments continually, ensuring growth occurs, and one has to 'switch' from time to time, taking account of switching costs."

    6. Where are most of your savings invested - equities, bonds or property?

    Two of the four said equities, in the form of unit trust funds. The other two have ploughed most of their savings into property, insurance policies and their own companies.

    The reason I asked this question is that research in the US has shown that women tend to shy away from investments in the stock market, because they are more risk-averse than men, preferring lower-risk assets.

    None of the four nominees actively trades in shares on the stock market, and hidden in their answers were some comments which might just bear out the US research: "As a long-term investor it would be inconsistent to actively trade (in shares)" and "attracts a high-risk profile".

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