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Is diversity critical to a business' financial success?
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Diversity in the workplace is no silver bullet

Changing the upper-echelons of management can change a company's profitability overnight. Hiring a more diverse workforce can't.

Context

Adding a more diverse workforce does not make an unprofitable company become a profitable company overnight. Therefore, there must be other aspects that are far more critical to a company's financial success.

The Argument

While a diverse workforce undoubtedly reaps benefits over time, it does not instantly spur innovation, nor can it rapidly resuscitate a failing business. This indicates that there are other aspects of the business that have a far greater role in dictating the company's financial success.[1] Entrepreneurs frequently cite leadership, strong decisionmakers, efficiency, and customer service as the factors which play the greatest part in a business's success. Diversity is important, but because it isn't a silver bullet in the same way effective management and leadership is, it is not an integral part of financial success.

Counter arguments

Proponents

Premises

[P1] Diversity alone cannot save a failing company. [P2] Other factors can. [P3] Therefore, diversity is not essential for a business's success.

Rejecting the premises

References

  1. https://www.purdueglobal.edu/blog/careers/how-does-workplace-diversity-affect-business/
This page was last edited on Tuesday, 14 Apr 2020 at 13:48 UTC

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