Companies with women in management are more often profitable than average

Companies that have a larger share woman u management structures, are 25 percent more likely to achieve above-average profitability, according to research by global consulting firm McKinsey.

The European Union directive foresees at least 40 percent of women in the boards of directors of companies, as well as at least 30 percent in all executive positions, it was said at the panel "Women, youth and innovation equals successful business" organized by the New Economy, with the support of the European Bank for Reconstruction and Development (EBRD), where representatives of various businesses presented their experiences on the position and participation of women and young people in business.

As we heard, in addition to gender representation, for a successful business and an innovative way of thinking, we also need representatives of younger generations in management because, according to Lloyds Bank's research, leaders under the age of 34 even 50 percent more often record income growth than their older colleagues.

Deloitte found that Generation Z and millennials are more likely to leave a company if the organization does not have serious inclusion programs, because diversity and inclusion are the key to innovation, on which the success of any business depends.

The most important thing is to make the idea interesting

Tijana Mirkajlović, the founder of the company "Radoznali vrabac", a company that produces personalized books for children, said that the idea for her business came when she made a gift for her cousin.

"I thought that such a product could make everyone happy. I wanted to combine creativity with psychology, and it all fit in with the moment when I needed to get a job. Now we are celebrating our 10th birthday and I had no doubt that this job would bring me so much experience in business," she said.

As she pointed out, for years she wanted to adapt the content of books to educational methods and life situations.

However, production was the biggest challenge compared to all other segments during business development.

When asked what it means to innovate and introduce innovations in business, Mirkajlović says that the most important thing in her business was to make an idea interesting.

Photo: New Economy

"We managed to do that, by personalizing the books with the application, that is, the software. The idea itself is the most innovative part. We are starting to move through the sphere of innovative and digital products," she said.

She emphasized that for every business it is a significant source of financing, but also support in terms of mentoring and knowledge. Mentors, as she said, must be more accessible, but support should also be in the form of connecting with people who have experience in a similar or the same business.

"We received financial support from the European Bank for Reconstruction and Development, which meant a lot to us for marketing, strategy for all stages of business development, and the workshop," she said.

Inmold Group (Inmold Group) is a family company run by the second generation, which has almost 40 years of experience in the production of high-performance tools.

Patent development is important.

Nevena Nikolić from Inmold Group pointed out that she has been a part of this company since she was a child, because this is a family business.

After her studies and training, she became an official employee of the company, but, as she said, it was necessary to prove that she was competent in the work she was doing.

"I tried to build my own path for five years. When I came to the company, it was developed and large at that time. I entered finance and had to learn that business. With my father, it was thorny at the beginning. At one point, I stepped out of the family business with one foot and entered the other, just so I could prove that I was capable of that too," said Nikolić.

In terms of innovation, she pointed out that the company had to develop products and be innovative in order to be more competitive on the market, and that two years ago the company received funding from the Innovation Fund, but also that they used the EBRD's support twice.

With this support, they received not only money for equipment and innovation, but also support in terms of professionalization. She pointed out the development of patents as one of the important things.

Nikolić also pointed out that the company also participates in the dual education program, which brought "sources of manpower and energy." Every year, as she said, 50 or 60 students come to the company and about 15 get a job after the internship.

Sofi kozmetika is a company that has been producing cosmetics from ingredients of natural origin and effective active substances for years.

Photo: New economy

Apply innovation in sales channels as well

The founder of "Sofi Cosmetics", Draženka Šoć, said that after leaving her job, she entered the world of cosmetics business without any experience.

"At that moment, it seemed to me that there was no smaller company that produces something like this. It seemed that there was no such small brand with small production. We saw our chance somewhere and got into it. And here we are for 16 years," she said.

When asked, when she judged that it was the moment to change sales channels, she said that she never thought that "Sofi kozmetiku" had a place in multi-brand stores.

"When you are a new brand that no one has heard of and when you are new you cannot have a store. It was necessary to build a name and a brand and only then open a store. It was very hard and stressful. We entered into four credit arrangements but everything turned out fine in the end. We often applied innovation, not only in the way we do business but also in sales channels," she said.

They also introduced innovations in design and product packaging.

"There was always something to come up with and innovate. Soaps are made by hand, while other products are made with the help of machines," Šoć added.

She added that innovations can also be seen in the fact that the "Sofi cosmetics" stores are not only places where products are bought, but also offer an experience, try the product, tell stories about it, and thus provide a special atmosphere.

She pointed out that financial support is very important, but that it should be sought, especially when it comes to the production sector.

"Besides financial, it also means any kind of education. Maybe even in education, contacts, ideas, experiences mean more to us. We got a financial advisor. We entered into an investment project to build a new factory. Sometimes it's better when someone from the outside takes a look at your business, to look at that perspective with other eyes," she said.

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