Thought diversity is a vital element of long-term corporate value—uniformity in strategy and leadership directly counters innovation. Varied perspectives at the leadership level provide greater options with broader implication and heightened adaptability in an evolving marketplace ...
Higher levels of women leaders are affiliated with greater returns across the board, both literally and figuratively.
“The value of diversity is somewhere between immense and immeasurable!” Kit Addleman, a partner of Haynes and Boone LLP says. “I see both the benefits of diversity as well as the pitfalls of uniformity in each of my roles.”
As chair of the Board of Directors for the Girl Scouts of Northeast Texas, Addleman has seen firsthand how diverse boards result in increased company performance and revenue. In addition, she says, a diverse board may be better able to accommodate “tough situations.”
“If everyone in that board room has similar experiences and personality traits, the discussions are narrow and the conversations constrained in a ‘group-think’ way,” Addleman explains. “Boards with more diverse members, including varied backgrounds and genders as well as specialty areas and skills, engage in more robust discussions and explore a greater range of strategies and solutions.”
Excerpted from Forbes. To read the full article, please click here.