Married to Derby County and former Blues player Paul Peschisolido, she picked up her award at a showbiz party at the Bloomsbury Ballroom, London.
Karren said: "I accept the award on behalf of all women who try their best, do their best and give their best every day."
A proud Karren added: "It's certainly nice for women to be recognised by other women, and as I haven't actually changed the world, that title means someone that's broken into an industry and opened a path for other people.
"There's not many other women managing directors in football, but these days there are many more that have senior positions in the business - marketing directors, club secretaries and sales conferencing.
"And in my case, I employ a lot of women. We've got one of the youngest club secretaries who is a woman and we've got the youngest female HR director."
The Blues MD is best known for having turned Birmingham City's off-field fortunes around and was recently linked with a high-profile move to run London's Capital Radio.
Karren, who has hosted her own television show called the Brady Bunch as well as presenting on Loose Women and Live Talk on ITV, has written three books and two novels.
