Avon is a unique place to work; we've got family-friendly policies. We have more senior women in high-level management than any other company; 46 percent of our officers are women.

When a woman earns a dollar, the payback is higher. She'll invest in her children, in their education, health care, and basic needs. The impact of a woman's role in the economy benefits society at large.

The product is second to managing the people.

Women like myself, CEOs, can pave the way for more women to get to the top.

My parents kept the best aspects of the Asian culture, and they Americanized the family. My mother was a great example for me. She was a working mother with a good career.

There are pros and cons of experience. A con is that you can't look at the business with a fresh pair of eyes and as objectively as if you were a new CEO. Fire yourself on a Friday night and come in on Monday morning as if a search firm put you there as a turn-around leader. Can you be objective and make the bold change?

The game in beauty is changing so much, if your product isn't high tech or can't make a unique performance claim - plump your lips, reduce your lines, look glossy, and stay on for 24 hours - you can't go to market today. I'm not just talking about a $20 lipstick, but a $5 lipstick!