|“After this I looked, and there was a great multitude that no one could count, from every nation, from all tribes and peoples and languages.” – Revelation 7:9
Author Caitlyn Patch is a yoga teacher, writer and researcher. In her opening paragraph in an article on “Diversity in Nature” she makes the point that “Diversity that occurs in nature is vital in order for sustainability to occur”.
In business, we establish the foundation, garner financial security, inject life into a brand and shepherd its growth, all with the ultimate goal of sustainability. How can we, in business, incorporate diversity in all our business systems in order for sustainability to occur?
The purpose of board meetings in a business is to basically interpret shareholder policy, set targets for management for the next month and then review the performance of management against these targets at the end of the month – the cycle continues. The lack of diversity in the skills and experience of board members often spells disaster. On the other hand, a regular dialogue culture among skillfully selected colleagues with diverse interests, may often lead to a path of sustainability and significantly higher return on investment for the stakeholders.
Investors are often tempted to invest in a single business maybe because of their interest in the sector or their confidence about the chances of success. If, however, the investor invests in an investment fund and the investment fund invests in a number of businesses then the investment risk is spread among several investors. Here again the diverse investment profile of the fund can give a higher return to the investor compared with the single investment strategy. This does require an implicit confidence in the investment fund manager.
Any business is encouraged to develop a marketing matrix which matches products/services and target markets. The more diverse these matches the greater the market reach and the greater the opportunity for revenue generation. It is a hedge against a change in the business environment which may spell disaster if the focus is on fewer matches in the matrix.
Creativity and innovation establish the business model and drive enterprise development. It is wise to diversify the skills and experience of the creative team to develop a wider set of strategies in pursuit of the business goals.
As you expand your business, one should seek diversity in the geographic location of human resources, the resource person relationship with the company, e.g. employee or outsourced independent contractor. Of course, diverse problem solvers in business may outperform high-ability specialist groups even though the latter might excel in research.
Let us celebrate diversity in the world and in our lives. Pursue positive affirmations of abundance in all the diverse elements of mind, body and soul. Each one of us is so unique, yet we are so interdependent. Let us contribute to the ecosystem of the business community. With an open mind and heart, let us embrace both commonalities and differences and be inspired by the Divine stamp in each unique expression of person, plant or animal.
(Dr. Basil Springer GCM is Change-Engine Consultant, Caribbean Business Enterprise Trust Inc. – CBET. His email address is email@example.com and his columns may be found at www.cbetmodel.org and www.nothingbeatsbusiness.com.)