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