The Business Imperative of Diversity

How can business leaders ensure that their organizations are primed for innovation and reinvention—and thus be as prepared as possible for the relentless change the next decade will bring? In the corporate world, the primary types of diversity that come to mind— gender, ethnic, racial, and sexual or...

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Bibliographic Details
Published inBCG Insights
Main Authors Tsusaka, Miki, Krentz, Matt, Reeves, Martin
Format Web Resource
LanguageEnglish
Published Boston Boston Consulting Group Boston, MA 20.06.2019
Subjects
Adaptation
Cognition & reasoning
Cognitive ability
Failure
Gender
Innovations
Leadership
Multiculturalism & pluralism
Success
Workplace diversity
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Summary:How can business leaders ensure that their organizations are primed for innovation and reinvention—and thus be as prepared as possible for the relentless change the next decade will bring? In the corporate world, the primary types of diversity that come to mind— gender, ethnic, racial, and sexual orientation—all drive success. [...]diversity is a pivotal feature of all long-lived natural and social systems, including companies. There are five enabling factors needed to create this kind of inclusive environment: participative leadership, with different views readily heard and appreciated; a strategic emphasis on diversity led by the CEO; frequent and open communication among teams; a culture of openness to new ideas; and fair and transparent employment practices, including equal pay.