#LeadershipTuesdays: A Formula For Success...Arnold Donald

"Diversity is a business imperative. The key to innovation is diversity of thinking. Having people from different backgrounds and different cultural experiences who are organized around a common objective is far more likely to create breakthrough innovation than a homogenous group.

A diverse group aligned on a common goal with a work process that fosters true inclusion, equal respect, equal voice and an equal opportunity for each team member will outperform a homogeneous group every time." 

--Arnold Donald, CEO, Carnival Corporation 

On Tuesdays, womenatliberty.com presents #LeadershipTuesdays, a platform for a variety of voices and resources to develop, encourage and strengthen women leaders. February is one of the most wonderful times of the year because it is the month that the United States has set aside to honor the history and contributions of African Americans. And we Carter G. Woodson to thank for creating this sacred practice. We are forever indebted to those him and the countless number of ancestors who came before us and never stop fighting for progress and a better life for those who would come behind them.

To day we recognize Arnold Donald who is the CEO of Carnival Corporation, a company most known for its Carnival Cruises and large luxury ships. However the company has rebranded themselves in recent years as a travel and leisure company. Donald is one of only three African American CEO's in the Fortune 500. His quote emphasizes that diversity and inclusion is not charity, but it makes good business sense. 

A 2015 McKinsey study stated that companies in the top 25th percentile for gender diversity on their executive teams were 15% more likely to experience above-average profits.  A later January 2018 report released by McKinsey presented data showing the likelihood had grown to 21%. (1) So, for businesses and leaders who want a competitive edge and want to outperform their competition, as Mr. Donald says, diversity is a business imperative. Diversity must not only be present in the top leaders, but it also must be visible throughout the company to be highly effective. When diversity wins, the business is more likely to be an innovator and winner, too.

Follow #LeadershipTuesdays on Twitter @LeadershipTues to see daily posts with resources that help you develop and strengthen your leadership skills. We look for and examine leadership everywhere, in politics, business, communities and entertainment. For more on #LeadershipTuesdays, go to womenatliberty.com.

Reference:
(1) Strauss, Karsten, "
More Evidence That Company Diversity Leads To Better Profits", Forbes.com, January 25, 2018
https://www.forbes.com/sites/karstenstrauss/2018/01/25/more-evidence-that-company-diversity-leads-to-better-profits/