首页
外语
计算机
考研
公务员
职业资格
财经
工程
司法
医学
专升本
自考
实用职业技能
登录
外语
America is said to have the most successful economic system in history. But sometimes it breaks. So too do the big banks, the mo
America is said to have the most successful economic system in history. But sometimes it breaks. So too do the big banks, the mo
admin
2015-01-10
79
问题
America is said to have the most successful economic system in history. But sometimes it breaks. So too do the big banks, the most highly distilled form and symbol of this system. And never more so than in the crash of 2008. The culprit in that crash has broadly been identified as greed, and the solutions have focused on additional regulation of Wall Street. But there have been few proposed solutions to one of the most important, and mostly unexamined, causes of the downturn: groupthink.
I saw groupthink in action during my time on Wall Street. One sees hints of it in research showing that subprime bankers had worse personal real estate performance than the average American. And I lived it when I was fired from my position running Smith Barney at Citi after advocating partly reimbursing clients for losses on(unintentionally)high-risk products we sold them. I was told to "get back in line" and was later relieved of my duties. When people ask me if I was fired because I am a woman, my prior answer of "Absolutely not" has now become "Well…not exactly" as I’ve reviewed the research on gender differences in the workplace.
While I did not necessarily take the positions I did because I’m a woman, research shows that compared with men, women are more risk-averse, take a longer-term perspective and are more concerned about maintaining relationships. And thus in a climate like Wall Street’s, women are arguably more client-focused. These differing perspectives are neither good nor bad in and of themselves, and they can be complementary and therefore can strengthen an institution. Studies have shown time and again that companies with diverse management teams outperform those with less diverse teams—and that diverse teams outperform even more "capable"(on paper)teams.
That makes sense to me. Earlier in my career, I worked at Sanford Bernstein, by far the most diverse company I’ve been at. We actively hired people with non-Ivy League, non-Wall Street backgrounds, including even a taxi driver.(And that’s not to mention a just-returning-to-the-workforce-after-maternity-leave mom like me.)When I was director of research there in the late 1990s, we began pursuing a strategy very different from that of the rest of Wall Street, pulling ourselves out of the extraordinarily lucrative—but conflicted—business of stock underwriting. We energetically debated the trade-offs of this decision. Our business suffered greatly for a few years(even our clients questioned us), but when Eliot Spitzer revealed that research analysts had been misleading investors by publicly praising—but privately disparaging—stocks, our lonely choice was validated. There is no question in my mind that it was because we were a diverse group of individuals that we questioned the conventional wisdom.
But it’s not all about individual firms’ fates and fortunes. The entire economy can suffer when groupthink is allowed to run rampant, as it did in financial services—among bankers, regulators, rating agencies, boards, analysts and others. When diversity is embraced, however, there can be a major economic upside. The economic engagement of women, in particular, is a driver of economic growth, which positively affects everyone. A 2012 Booz & Co. Goldman Sachs report estimated that fully engaging women in the economy would increase U. S. GDP by a whopping 8%. More women in the workforce begets more demand, more demand begets more jobs, more jobs begets more demand.
What’ s more, diversity can drive second-order positive economic impacts. Recent research from the Center for Talent Innovation indicates that greater diversity can power greater innovation. At the end of the day, though, diversifying the leadership of Wall Street and corporate America is a fairness issue. Companies with more-diverse leadership teams have lower gender-pay disparities throughout their workforce. And for the banks, the fairness imperative is even clearer: gains in good times accrue to shareholders and employees, who represent an increasingly nondiverse group, while the risk of extreme losses has been shouldered by taxpayers. Unfortunately, progress on diversity has stalled in corporate America and actually gone backward on Wall Street’
One can see the promise of a business world dominated by those who " think different. " Harnessing the messy clash of ideas inherent in diverse perspectives is the smart path forward to a more modern and sustainable economic system.
WOMEN BY THE NUMBERS
18%: Approximate percentage of female executive officers and managers in the securities, investment-banking and commodities industries
17%: Percentage of Fortune 500 board-of-director seats held by women; only 23 women are CEOs of Fortune 500 companies
16%: Average return on equity for a company whose board includes one or more women; companies with no women on the board have an average of 12%
15% : Percentage by which the presence of a female director on a company’s board reduces the cost of a successful acquisition
What are the possible roles of diversity in financial services? Why does the author say it is a "fairness issue"(para. 6)?
选项
答案
can promote economic development(a major economic upside)/women can become "a driver of economic growth"/increase US GDP/can stimulate "second-order positive economic impacts"/ diversity can lead to innovation(power greater innovation)/can help build "a more modern and sustainable economic system"/"fairness issue": can reduce "gender-pay disparities" in their workorce/build a fairer pay system for both male and female employees/for financial institutions, let shareholders and employees share gains in good times/when facing huge losses, the risks would be "shouldered by taxpayers"/
解析
转载请注明原文地址:https://kaotiyun.com/show/LJSO777K
本试题收录于:
NAETI高级口译笔试题库外语翻译证书(NAETI)分类
0
NAETI高级口译笔试
外语翻译证书(NAETI)
相关试题推荐
Modernindustrialsocietygrantslittlestatustooldpeople.Infact,suchasocietyhasasystemofbuilt-inobsolescence.The
Modernindustrialsocietygrantslittlestatustooldpeople.Infact,suchasocietyhasasystemofbuilt-inobsolescence.The
Withitsdistinctiveethniccharacteristics,Tibetologicalresearch,whichwouldplayanimportantroleininheritinganddevelo
Ifpeoplecannotaffordtobuytheirownhouse,theycanrentpropertyfromaprivatelandlord,as10%ofthepopulationdoes,o
Ourcompanywillprovideyouwithfreetransportationasyourequestedandchargetheinstallation.
SomeAmericansarenotsureifObamaisapresidentwithgreat________andthereforedeservestheirpoliticalsupport.
WorldWaterShortageAnewstudywarnsthataboutthirtypercentoftheworld’speoplemaynothaveenoughwaterbytheyear
Ifyouintendtomeltthesnowfordrinkingwater,youcan________extrapuritybyrunningitthroughacoffeefilter.
ThecompanyisallbutbannedinAmericabecauseoffearthatitswarescontain"backdoors"forChinesespookstoeavesdropond
随机试题
社会主义初级阶段不是泛指任何国家进入社会主义都会经历的起始阶段,而是特指我国生产力落后、商品经济不发达条件下建设社会主义必然要经历的特定阶段。我国进入社会主义初级阶段的标志是()
某供热管网的设计压力为1.6MPa,其严密性试验压力应为()MPa。
A.牙槽嵴组B.水平组C.斜行组D.根尖组E.根间组只存在于颊舌侧的牙周膜纤维,其功能是将牙齿向牙槽窝内牵引,保持牙齿直立.抵抗侧方力
表面活性剂系指分子中同时具有亲水基团和亲油基团,能使液体的表面张力显著下降的物质,具有很强的表面活性,常用做增溶剂、起泡剂、去污剂、消泡剂、抑菌剂或消毒剂、乳化剂、润湿剂等。为了破坏浸提过程中的泡沫,可加少量消泡剂,以下属于消泡剂的是()。
A.红花B.大黄C.巴戟天D.牡丹皮E.槐米以上药材在秋冬季节地上部分将枯萎时及春初发芽前或刚露苗时采收的是()
单位工程质量验收合格应符合的规定包括()
某施工企业于2006年9月1日收到投资人投入的原材料一批,合同约定该批材料的价值为300万元,则这批材料应作为企业的()处理。
一般来说,在期数一定的情况下,随着折现率的提高,一定期限内的普通年金现值将逐渐变小。()
Inthepopularmind,theInternetistherealizationoftheglobalvillage,wheretheflowofinformationandideasisunimpeded
______,herealizedhemadetherightdecision.
最新回复
(
0
)