The dynamics of diversity

"Diverse" is a powerful word. A criterion, a compliment and a justification, its meaning in the corporate world is undergoing an evolution from a 'politically correct' and sometimes cynically applied descriptor of differences to a positive, inclusive and essential characteristic of corporate boards. Defined by the Oxford English Dictionary as 'widely varied', 'diversity' encompasses all aspects of demographic characteristics, backgrounds and experiences. The term resonates with broad globalisation of the commercial world; in order to thrive, it seems intuitive that a company board should reflect the environment in which it operates. As such, diversity is instrumental to the development of well-run, sustainable companies.