The competitive advantage of diversity

Jennifer Fonstad, a co-founder and Managing Partner of Aspect Ventures, wrote a thoughtful article on diversity. While we use this word a lot these days, not many of us really understand what diversity means for business.   

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'We are only just beginning to understand all of the unique ways in which diversity drives this advantage. - Writes Jennifer. - Here is what we know so far:

  • Diversity builds beneficial networks: A balanced and diverse leadership team brings new networks into a company that can be used to attract talent, build business relationships and sell products.
  • Diverse leadership brings the right skills at the right time: Studies show differing leadership styles in an organization bring essential qualities that matter as a company grows — aggressive, action-oriented approaches tempered by collaboration, listening and tolerance, for example.
  • Diversity provides insight into the customer: Most companies sell into an increasingly diverse customer base; mapping experiences, perspectives and networks internally to better mirror customers drives increased sales."

Original article