Author: Salwa Iqbal

  • MiCrédito: Designing microfinance products for first-time women entrepreneurs in Nicaragua

    MiCrédito: Designing microfinance products for first-time women entrepreneurs in Nicaragua

     

    Overview 

    This case study examines how Mujer Emprende, a microcredit product developed by MiCredito uses innovative features to de-risk ‘risky’ clients and maintain profitability, all while supporting women led businesses.

    Introduction 

    Nicaragua’s political and economic challenges and vulnerability to natural disasters have constrained economic growth and financial inclusion in the country. In 2021, only 26% of adults over 15 years of age had an account at a financial institution or through a mobile money provider.1 Moreover, with 22% female account ownership compared to 31% male account ownership, there is a clear gender gap in access to financial products and services in Nicaragua.2  

    On the other hand, the Nicaraguan economy has shown resilience, and the country’s GDP grew by 3.8% in 2022, driven by robust private consumption fueled by remittances and net exports.3 This presents a massive opportunity and responsibility for microfinance institutions (MFI) to create financial products and services for 74% of the Nicaraguan adult population that remains unbanked. 

    MiCrédito is a Nicaragua-based MFI founded in 2004 by Veronica Herrara and Octavio Cortez with support from Canada-based Mennonite Economic Development Associates (MEDA). MiCrédito’s mission is “to create business solutions that include both social and financial support to Micro and Small Entrepreneurs, providing for a more prosperous future.”4 The MFI provides small business loans, student loans, home improvement loans, life insurance, and other products to both urban and rural clients in Nicaragua and has expanded to Costa Rica. To expand both its financial portfolio and social impact, the organization looks to develop new financial products to improve reach among the unbanked, rural, and female populations.

    To view and download the full case study, follow these instructions.

    This case is accompanied by a video supplement which can be viewed below:

    This case was written by Corrina Vali for the BMO GATE MBA Fellowship Program. The author prepared this case under the supervision of Professor András Tilcsik with guidance from Professor Maja Djikic, Teddy Lusted, Vanessa Iarocci, Chimere Ibecheozor, Professor Sarah Kaplan, Professor Yongah Kim, and Matthew Stevens. The author wishes to thank Veronica Herrara, Lyann Urbina, Serge LeVert-Chiasson, Cesia Calderon, Jessica Villanueva, Martha Gallegos and Carmen Aviles for their participation in this project.

  • Busted

    Busted

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    Does achieving gender equality only benefit women? Are gender quotas thwarting meritocracy? Are women more risk averse than men? If you think you know the answers to these questions, then think again! Busted is an audio podcast series that busts prominent myths surrounding gender and the economy by teaming up with leading experts in the field. We uncover the origins of each myth and give you the tools to bust each myth yourself!

    Listen now on Spotify or Apple Podcasts

    You can support our work by rating and subscribing to this podcast! Help us get the word out.

    [/fusion_text][fusion_accordion type=”toggles” inactive_icon=”” active_icon=”” margin_top=”” margin_bottom=”” hide_on_mobile=”small-visibility,medium-visibility,large-visibility” class=”” id=”” boxed_mode=”” border_size=”1″ border_color=”” hue=”” saturation=”” lightness=”” alpha=”” hover_color=”” background_color=”” divider_line=”” divider_hover_color=”” divider_color=”” padding_top=”” padding_right=”” padding_bottom=”” padding_left=”” title_tag=”h4″ fusion_font_family_title_font=”” fusion_font_variant_title_font=”” title_font_size=”” title_line_height=”” title_letter_spacing=”” title_text_transform=”” title_color=”#333333″ icon_size=”” icon_color=”” icon_boxed_mode=”” icon_box_color=”” icon_alignment=”” fusion_font_family_content_font=”” fusion_font_variant_content_font=”” content_font_size=”” content_line_height=”” content_letter_spacing=”” content_text_transform=”” content_color=”#111111″ toggle_hover_accent_color=”” toggle_active_accent_color=”” parent_dynamic_content=””][fusion_toggle title=”Busted Season Four” open=”yes” awb-switch-editor-focus=”” class=”” id=”” fusion_font_family_title_font=”” fusion_font_variant_title_font=”” title_font_size=”” title_line_height=”” title_letter_spacing=”” title_text_transform=”” title_color=”#333333″ hue=”” saturation=”” lightness=”” alpha=”” fusion_font_family_content_font=”” fusion_font_variant_content_font=”” content_font_size=”” content_line_height=”” content_letter_spacing=”” content_text_transform=”” content_color=”#111111″]

    Episode 24: Busting myths around Indigenous entrepreneurship

    Indigenous entrepreneurship has existed across Turtle Island long before settler colonization. But today, there are still so many myths about Indigenous businesses — including the idea that Indigenous people aren’t entrepreneurs, that they rely on government handouts, and that they need to be taught how to build successful businesses. None of that is true. In fact, Indigenous entrepreneurship is thriving — and it’s rooted in long-standing traditions of innovation, sustainability, and community care. In this episode, we bust those myths and explore how Indigenous ways of doing business can challenge — and improve — how we all think about entrepreneurship.

    View show notes

    Episode 23: Myth: Philanthropy belongs to rich, white men

    When most people think about philanthropy, they picture rich, often white, men, writing huge cheques for whatever cause they decide to get behind. And billionaire philanthropy has faced growing criticism: is it really philanthropy, or is it just a sneaky way for the wealthy to avoid taxes and reinforce inequality? But this perspective leaves out a much broader, richer history – one where women, members of racialized communities, LGBTQ+ folks, and others have long used the power of voluntary giving to contribute to the public good and drive important social change. In this episode, we speak to researchers who are challenging the dominant narrative, expanding our understanding of who gives, why they give, and how philanthropy has always belonged to more than just a select few.

    View show notes

    Episode 22: Myth: Care work is low value

    During the COVID-19 pandemic, we got a sense of how devalued care work really is. Care workers were, and still are, working long hours in poor conditions, for low pay, to support elders, children, and people with disabilities. These care workers provide some of the most essential labour in our society, but their work is often overlooked. We rarely stop to think about how much we rely on care, and how everything would fall apart without it. That neglect has consequences: care workers have been leaving the sector, and we’re now facing a global care crisis, with not nearly enough carers to support everyone who needs care. In this episode, we’ll be busting the myth that care work is low value, and talk about what it would look like if society recognized that our communities and economies are built on and sustained by care. 

    View show notes

    Episode 21: Myth: The tradwife movement empowers women by affirming traditional gender roles

    If you’ve been on social media lately, you might have seen some content about the tradwife movement and from tradwives themselves. Popular tradwife accounts post photos and videos of an idealized domestic lifestyle – taking care of children, cooking from scratch, baking bread, and keeping a clean and organized house – often with a feminine aesthetic that harkens back to the 1950s. They make beautiful content that showcases the value of “traditionally” gendered households, where men are the bread-winners and women are the bread-makers. It might be easy to think that this movement is simply about empowering women to return to tradition. But, when you dig deeper, there’s much more to the story. In this episode, we speak with researchers to unpack the tradwife movement, what it does, and who it really benefits.

    View show notes

    Episode 20: Myth: The business case for diversity is effective in creating equality

    When we talk about an organization’s “case” for diversity, we’re talking about the set of justifications or reasons it gives for why diversity is an important organizational value. A common case that organizations make for promoting DEI is the business case for diversity: the idea that diversity is important because it boosts an organization’s bottom line. The business case seems harmless, or maybe even helpful, but research has found that using it to advocate for equality could, in some cases, be doing more harm than good. This episode debunks the myth that the business case for diversity is effective for creating equality for marginalized groups.

    View show notes

    Episode 19: Myth: Women should step aside as they age; men should step up

    While anyone can experience ageism at work, research shows that women tend to have unique, and typically more severe, experiences. No matter how accomplished they are and no matter how effective they continue to be, older women are perceived as ageing out of relevance. It’s a different story for older men. They’re usually perceived as aging into wisdom and given more power and leadership opportunities. In this episode, we’ll bust this myth—that older women should step aside while older men should step up—and explore the gendered nature of ageism.

    View show notes

    [/fusion_toggle][fusion_toggle title=”Busted Season Three” open=”yes” title_color=”#333333″ content_color=”#111111″]

    Episode 18: Myth: Artificial intelligence is bias-free

    Many people think of AI as objective and neutral, something that not only makes our lives easier, but also helps us to eliminate the biases that plague human cognition and decision-making. While it’s true AI can do a lot for us, it’s a myth that AI is bias-free. In fact, AI can amplify the bias and perpetuate the inequality that is already rampant in our society. In this episode, we’ll explore how and why AI isn’t as fair as we’d like to believe, the consequences of bias in AI, and what responsible and ethical AI could look like.

    Download show notes

    Episode 17: Special Episode – Dr. Jen Gunter on menstruation myths

    Dr. Jen Gunter joined us at the Rotman School of Management to talk about her new book, Blood: The Science, Medicine, and Mythology of Menstruation. In this conversation with GATE’s founding director, Dr. Sarah Kaplan, she discusses the many myths around menstruation and the impact that misinformation and stigma about menstruation have on women’s health and on society. Listen in to learn about how periods and reproductive health are linked to purity culture and patriarchy, as well as to social, economic, and political outcomes.

    Download show notes

    Episode 16: Myth: Being LGBTQ+ doesn’t matter at work

    What does being LGBTQ+ have to do with your job? Actually, a whole lot. LGBTQ+ people face many barriers at work, and to being employed in the first place – like hiring discrimination, microaggressions, and lower earnings. And, if people feel like they have to hide who they are at work, it can take a huge toll. Sexual and gender identity are a part of who we are, and like other aspects of our identities, they affect how people perceive us and the opportunities we have. This episode busts the myth that being LGBTQ+ doesn’t matter at work.

    Download show notes

    Episode 15: Myth: Women don’t make good political leaders

    In Canada, only 30% of Members of Parliament are women, and only 16% belong to a racial minority group, well below their 26% representation in the overall Canadian population. On the other hand, white men are over-represented in political leadership, and that’s not only the case in Canada, but in many other countries as well. People may – consciously or subconsciously – think that that’s because women, racialized folks, and members of other underrepresented groups just don’t make good political leaders. But the reality is that there are a lot of factors contributing to the political underrepresentation we see today. In this episode, we’re going to be busting the myth that women and members of other underrepresented groups just aren’t suited to political leadership.

    Download show notes

    Episode 14: Myth: Accessibility is optional

    Accessibility is about making information, resources, activities, and environments, well, accessible. That means that everyone should be able to engage with these things with minimal effort and as meaningfully as possible. Countries around the world including Canada and the US have adopted accessibility laws, but there’s still a huge disconnect between how important this issue is and how much attention it receives. Many people don’t think about accessibility at all. Or if they do, they think of it as a nice-to-have that’s kind of optional or that’s it’s just about accommodations and modification to physical space.

    Download show notes

    Episode 13: Myth: Care work is women’s work

    Care work is foundational to societies and to humanity. But even though everyone needs care, care work and those who provide it are often ignored, trivialized, or devalued. Why? Part of the reason is that care work is gendered: there’s a myth that care work is women’s work and that women just have the natural skill to be carers. In this episode, experts share research that shows that caring for others is a skill that anyone can and should learn – and if everyone participated in care, we could have more empathetic, healthier societies and relationships.

    Download show notes

    [/fusion_toggle][fusion_toggle title=”Busted Season Two” open=”yes” title_color=”#333333″ content_color=”#111111″]

    Episode 12: Special Episode–Dr. Sarah Kaplan on the gender pay gap 

    What causes the gender pay gap? Is it just because women are choosing lower-paying jobs? Are they just not qualified enough to make higher salaries? Think again. There are structural and historical dynamics that lead to unequal outcomes we observe in pay today. This episode with GATE founder, Dr. Sarah Kaplan, delves into how labour market biases influences the gender pay gap. 

    Download show notes

    Episode 11: Special EpisodeDr. Tina Opie on Shared Sisterhood 

    How can we make meaningful progress on equity and inclusion? Now that we’ve busted many different myths about gender and the economy, you might be wondering about more concrete steps you can take to change inequality in your workplace and daily life. On this special episode, Dr. Tina Opie shares three practices for dismantling systemic inequities from her book Shared Sisterhood: How to Take Collective Action for Racial and Gender Equity at Work, co-authored with Dr. Beth A. Livingston. This special episode was written and produced by the team at our sister podcast, Rotman Visiting Experts. 


     Download show notes

    Episode 10 – Myth: Gender-based violence is a private issue

    Overview: There’s a perception that gender-based violence (GBV) only happens in the home, and that means it’s a private matter, just for families or partners to deal with. This is a misconception that can keep survivors from reporting violence and finding support. Gender-based violence is a human rights violation that encompasses many types of actions including harassment, assault, manipulation, and abuse. It can happen anywhere, including in workplaces, schools, and public spaces, and has significant consequences for all of society. In this episode, we hear from experts from different organizations working against gender-based violence to understand why it is not a private issue but something that everyone should be working to address.

    Download show notes

    Episode 9 – Special Episode – Busting Myths on Remote Work and Inequality

    Since the pandemic, remote work has become much more commonplace, especially for knowledge workers. While it has many advantages for workers, remote work isn’t going to mitigate inequality unless organizations implement it purposefully and with the intention to prioritize well-being and equity for workers. This episode delves into the effects of remote work on workplace inequality and makes suggestions for better workplaces for all. This special episode was written and produced by Rotman Executive Summary and features GATE’s director, Sarah Kaplan, and Senior Research Associate Carmina Ravanera.

    Download show notes

    Episode 8 – Myth – Women don’t negotiate

    If women just negotiated more, maybe they’d close the gender pay gap, right? Think again. While some popular media has characterized women as just needing to step up and ask for more to change inequality, research shows that when they do negotiate, they often face backlash for going against gender norms. In this episode, we discuss how people of different social groups experience different responses when they try to negotiate – and how women negotiate in many different ways beyond just for pay.

    Download show notes

    Episode 7 – Myth – Good leadership is masculine leadership 

    What makes a good leader? When you hear this question, do you think about traits like assertiveness, ambition, and determination?  A lot of people may be surprised to realize that as a society, we often associate good leadership with stereotypically masculine traits. In fact, a range of different traits—including both stereotypically masculine and feminine traits—make effective leaders. This episode delves into the myth that good leadership is masculine leadership and explores how we can facilitate more diverse and representative leaders across our workplaces and our societies.  

    Download show notes

    Episode 6 – Myth: Gender inequality has a one-size-fits-all solution

    What is intersectionality, anyway? We’ll demystify it in this episode–and delve into the myth that gender inequality can have a one-size-fits-all solution. Intersectionality shows us how we need to consider how our different social identities such as race, gender, religion, Indigeneity, immigrant status, disability, and sexual identity all intersect to play a significant role in how we experience the world. So, rather than creating policies, services, and research that homogenize people, we need to make sure we apply intersectionality—or we risk leaving people behind. 

    Download show notes

    [/fusion_toggle][fusion_toggle title=”Busted Season One” open=”yes” title_color=”#333333″ content_color=”#111111″]Episode 1 – Myth: Gender Equality Only Benefits Women

    Conversations around gender equality tend to focus on the significant barriers to resources and opportunities that women face. As a result of this focus, there is a pervasive myth that gender equality will only benefit women. Yet, contrary to this myth, gender equality benefits everyone. All people grapple with gender roles and stereotypes. We bust this myth with leading experts to show how, faster child development, greater peace, and economic prosperity are related to gender equality!

    Download show notes here

    Episode 2 Myth: Gender quotas thwart meritocracy

    The issue of whether to implement gender quotas for leadership positions, boards, political parties, and other groups is hotly debated. Some have argued that quotas are necessary to push gender equality forward and create a more level playing field. Others believe that implementing quotas gives an unfair advantage to women who do not deserve these positions: if they did deserve them, they would achieve them on their own merit. In other words, they perceive that gender quotas thwart meritocracy. We bust this myth with leading experts to show how quotas can actually be more beneficial than harmful.

    Download show notes here

    Episode 3 Myth: It’s Not Us, It’s the Pipeline

    There is a common belief that women are underrepresented in fields dominated by men, such as in science, technology, engineering and math (STEM) sectors, because there are just not enough women in the pipeline. Some have argued that women choose not to enter these careers because they simply have different preferences or aspirations. In turn, this implies that companies and firms do not have responsibility for a lack of gender diversity. However, this is a myth. A substantial number of women are qualified to work in fields dominated by men. For instance, in 2015 in Canada, women accounted for 43% of university graduates from STEM programs. Yet, women with STEM degrees are less likely than men with the same degrees to work in science and technology occupations. We bust this myth with leading experts to show that companies and firms need to take more action to make STEM fields more equitable and less gender-segregated.

    Download show notes here

    Episode 4 Myth: Women Are More Risk-Averse Than Men

    Popular discourse tends to depict women as less likely than men to take risks. Christine LaGarde, Managing Director of the International Monetary Fund, famously implied that women make less risky financial decisions when she stated that the financial crisis of 2008 would not have occurred “if it had been Lehman Sisters rather than Lehman Brothers”. But are women really more risk-averse than men? Research has in fact shown that men and women are more similar in their risk preferences than commonly believed. We bust this myth with leading experts to show that women may act more risk-averse only because of gender norms that place expectations on them to do so.

    Download show notes here

    Episode 5 Myth: Sexual Harassment is a Women’s Issue and a Result of Sexual Desire

    Sexual harassment is often portrayed as an issue that only concerns women, where women are victims of harassment because they were “asking for it” through their behaviours or dress. This portrayal puts the onus on women to stop harassment by simply changing their actions. . Yet, sexual harassment is not a “women’s issue” in the sense that victims can be of any gender and perpetrators tend to be men. This perception also ignores the reality that sexual harassment is often about having power and control over someone else. We bust this common myth to show that it is imperative that the social norms that drive harassment and toxic work cultures are addressed instead of blaming the actions of women

    Download show notes here[/fusion_toggle][/fusion_accordion][fusion_separator style_type=”default” hide_on_mobile=”small-visibility,medium-visibility,large-visibility” sticky_display=”normal,sticky” flex_grow=”0″ alignment=”center” /][/fusion_builder_column][/fusion_builder_row][/fusion_builder_container]

  • Pigment Paradox: A podcast on colourism in India and beyond

    Pigment Paradox: A podcast on colourism in India and beyond

     

     

    About the series: BMO GATE MBA Fellow Nishtha Taneja tackles the tough topic of colourism in the workplace and beyond. Lighter skin tones often receive preferential treatment, while darker skin tones face discrimination. This bias exists across various racial and ethnic communities and influences important areas such as employment, housing, and social interactions.

    Episode 1 — Unfiltered: Women Speak Out on Colorism’s Impact from Playground to Boardroom

    Episode 1 show notes

    Episode 2 — Uncovering Bias: HR Dilemmas and DEI Solutions

    Episode 2 show notes

    Episode 3 — Beyond Skin Deep: Women’s Mental Health & Colorism

    Episode 3 show notes

    Episode 4 — Color beyond Borders: The Global Impact of Corporate Colorism

    Episode 4 show notes

    *Disclaimer: The opinions expressed in this series do not necessarily reflect the views of the Institute for Gender and the Economy or the University of Toronto.

    LISTEN TO OTHER GATE PODCAST SERIES ON THE GATE AUDIO CHANNEL ON APPLE PODCASTS OR THE GATE AUDIO PLAYLIST ON SPOTIFY

  • Lavender Ceiling: LGBTQ+ Board Directors in Canada

    Lavender Ceiling: LGBTQ+ Board Directors in Canada

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    Executive summary 

    LGBTQ+ people are underrepresented on corporate boards of directors and throughout most organizations in Canada. This report summarizes findings from an analysis of representation on Toronto Stock Exchange-listed companies from 2015-2022 along with a review of the existing research on LGBTQ+ representation on boards and within organizations. Key insights include: 

    • Only 0.15% of TSX-listed company directors publicly identify as members of the LGBTQ+ community, yet greater board diversity is associated with greater connections and collaborations among board members, increased innovation and long-term strategic thinking, greater inclusiveness throughout the organization, and improved corporate resilience to crisis. 
    • Research and practice have overlooked LGBTQ+ board directors, but a review of research on LGBTQ+ inclusion in organizations more broadly give us clues into the sources of the “lavender ceiling” of barriers that prevent LGBTQ+ people from entering and rising up into top leadership. 
    • There is a plethora of evidence that LGBTQ+ people experience discrimination in applying for and interviewing for jobs, in their daily work experiences once they get jobs, and in their exclusion from networks that could lead to promotion opportunities. This leads to feelings of isolation, lack of engagement and higher turnover. 
    • LGBTQ+ employees experience a disclosure dilemma at work: they can achieve greater authenticity and connection by “coming out” but risk discrimination, or they can hide their identities to avoid discrimination but risk the disconnection that comes from not bringing their whole selves to work. Moreover, this choice is not a one-time thing but instead must occur with every new situation and when meeting each new person. 
    • LGBTQ+ employees have multiple intersecting identities—related to gender, race, disability, immigrant status, Indigeneity or other—which can result in different experiences at work, where different identities can either offset or amplify advantages or disadvantages. 
    • LGBTQ+ employees can be agents for change by both normalizing LGBTQ+ identities and disrupting existing norms in organizations. But the burden of change should not rest only or mainly on the shoulders of these employees. 
    • Peers, supervisors, organizational leaders, policy makers and other stakeholders can create more inclusive organizations by becoming strong allies, implementing effective training, setting strong cultures and developing inclusive policies and practices. These actions may not be fully effective on their own, but in combination can create a positive cycle of inclusion that is better for LGBTQ+ employees and for organizational health and resilience overall. 

    DOWNLOAD THE FULL REPORT (IN ENGLISH/EN FRANÇAIS).

         

    DOWNLOAD THE INFOGRAPHIC (IN ENGLISH/EN FRANÇAIS).

    The report was written by Matt Wang and Sarah Kaplan. The infographic was prepared by Sarah Kaplan with research assistance from Daphné Baldassari, Makayla Fang, Fiona Hoang, Ian Wan, and Matt Wang. This work was supported by LGBTQ+ Corporate Directors Canada and the 2SLGBTQI+ Entrepreneurship Knowledge Hub.

    In an op-ed for The Globe and Mail, Jane Griffith and Sarah Kaplan discuss barriers that keep LGBTQ+ people out of leadership roles and board directorships, and what corporates can do to help.

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