Companies benefit as women gain more influence in business.

Women have become significant drivers of business success, as evidenced by increasing leadership in corporations, a rapid rate of entrepreneurial growth and overall impact on the economy.

In recent decades, women have made strong gains among the executive ranks. More than half of Fortune 500 firms have one or more female corporate officers, two have women CEOs and women have increasingly been placed in other key positions, such as CFO, CIO, and COO. These trends are expected to continue, with some estimates that by 2020, one in five positions of executive vice president or above will be held by women.

Women are also leading a dynamic pace of small business growth. Since 1997, women-owned firms have grown at a rate nearly twice that of all firms, while nearly half of all privately held firms are at least 50 percent owned by a woman or women. The Small Business Administration's Office of Women's Business Ownership reports that women own nearly 40% of all firms in the U.S.

These 6.2 million women-owned businesses demonstrate increasing economic clout--both in job growth and purchasing power. They contribute to the improving economy by employing more than 19 million people nationwide, and by spending an estimated $492 billion a year on salaries and wages.

The leadership strengths and entrepreneurial skills that make women so successful as business owners--creativity, people skills and willingness to take risks, for example--also benefit large corporations.

A study conducted last year by Catalyst, a nonprofit research and advisory organization dedicated to advancing women in business, showed that companies with more women senior executives financially outpaced those with fewer women senior executives.

The study, which looked at more than 350 Fortune 500 companies, measured two key performance indicators: return on equity and total return to shareholders. As women continue to add value as part of executive management, there is also evidence that women on corporate boards can boost the company bottom line. There is a strong link between increasing numbers of women on corporate boards and good corporate governance along with a corporation's competitive rank and profits.

Banking in particular is an industry where women have had a significant impact. U.S. Banker magazine's annual ranking of the "25 Most Powerful Women in Banking" illustrates how women contribute significantly to their companies' financial performance. The criteria for U.S. Banker's selection includes leadership skills, financial performance, job complexity and overall contribution to the bank's top and bottom lines, as well as such personal qualities as community involvement, education and character.

As these executives have shown, successful women make things happen by staying focused on results and the bottom line, raising the bar for themselves and others, and being involved in the community. The ideal role model for women in business today is someone who sets out to change the world, a quality that is being seen increasingly among women at the top echelons of U.S. corporations. The ability to lead in a rapidly changing world is critical to success.

So what are successful women doing everyday? "You can't get ahead without making risky moves," says Gail Evens, the former executive vice president at CNN. In her best-selling book, "Play Like a Man, Win Like a Woman," she states that "no one who is content to play safe ever sees her career skyrocket. No one who's afraid to stretch the boundaries ever becomes a CEO. Being passive gets you nowhere."

Another important quality women bring to leadership positions is their commitment to building strong relationships. Some refer to this as social capital. A number of studies have shown that women score higher than men in this area. Women tend to excel in their ability to communicate effectively and to motivate others to do their best.

Most top executives agree that successful women accrue social capital at every level because they understand that making connections between people is at the heart of creativity, innovation and leadership. These women also know how important mentoring is to career advancement.

Women need the support of experienced mentors who can guide them through obstacles and inspire them to reach for their highest goals. Those who do succeed have a responsibility to others. They must extend a helping hand to other women who are still rising through the ranks so they, too, can reach positions and make a significant difference.

But for more women to reach the top they will also need solid experience in managing profit and loss. They should develop an expertise in a specific area, learn to be a successful manager, exceed performance expectations and take on tough and highly visible challenges.

These strategies indicate that women may have to work harder, manage better and take more risks, but this is good advice for anyone looking to chart a successful career. The value of the differentiated skill set women bring to the workplace is gaining support and recognition. Women are good for business, whether as part of a company's executive leadership or at the helm of their own firm--and they are crucial to the bottom line.

Women have tremendous impact on the growth and overall success of businesses and the savviest companies are using this to remain competitive.

JoAnn M. Bourne is executive vice president of commercial deposits and treasury management for Union Bank of California, and serves on the bank's executive management team. Last year, Bourne was also named as one of banking's Top 25 Women to Watch by U.S. Banker.