Women power can benefit business?

In the wake of recently tabled Companies Bill, CARE, a national development agency working for women's empowerment, released here on Friday a primer on "Why Business Should Care", which provides concrete examples of the benefits of integrating Women's Empowerment Principles (WEP) into business ethics.

The primer is designed as a tool to help the corporate sector to implement the WEP into the workplace, marketplace and into the community.

The primer was jointly released by Muhammad Musa, CEO of CARE India, and Anne Stenhammer, Regional Director, UN Women, South Asia Regional Office, at a consultation on Women's Empowerment- Why Business Should Care.

It has been jointly produced by combined effort of Global Compact Network of India, UN Women and Oil and Natural Gas Corporation (ONGC),

The primer builds a strong case for women's empowerment can lead to a healthier bottom-line for the corporate sector.

It also takes a closer look at how companies can identify red flags hindering the progress of women from junior and mid-management to senior levels.

In addition, it examines how the value chain can be expanded at the community level to include women to expand the market and to increase competition, thereby more choices for the consumer.

The best way forward to give an impetus to WEP is through ensuring the CEO's public commitment and developing mechanisms of doing gender audit.

The other important strategy is to engage men in gender initiatives. Volvo's Walk the Talk initiative and Ernst and Young's Cultivating Men as Allies are some initiatives which involve men in these inclusive agenda.

CARE is a humanitarian organisation working in India since 1950. CARE India is an affiliate member of the CARE International Confederation based in Geneva.