Diversity In The MBA: Why It Matters

Sponsored by EDHEC Business School

In today’s globalized world, you’d struggle to find an MBA that doesn’t cultivate diversity and inclusion in its curriculum and cohort. But it is important to not overlook this when it comes to deciding which MBA program and institution is right for you.

Learning about and understanding different cultures, values, perspectives and customs within business is a key component of the MBA (and the modern workplace).

EDHEC’s Global MBA which ranked 10^th worldwide for return on investment in the QS World University Rankings: Global MBA Rankings 2020, welcomes candidates from over 30 countries and territories every year, while the school has a diverse faculty and board as well. 

The Global MBA is a safe space which fosters collaboration and personal development with its strong focus of exposing candidates to new ways of thinking, and how developing a global mindset. Doing so helps eliminate ‘majority thinking’, and adds ‘value’ to candidates who can demonstrate experiences in diversity and inclusion to prospective employers.

“I had never before been immersed in such an international environment,” said Global MBA graduate, Mario. “With people from all over the world, from different backgrounds and experiences, EDHEC helps you grow in terms of your vision of business in this globalized world.”

Good diversity initiatives improve client relations, corporate culture and employee recruitment

When it comes to business, inclusion and diversity initiatives are just good sense. The 2019 GMAC Corporate Recruiters Survey found that 37 percent of respondents placed more importance on a candidate’s ability to fit with company culture rather than on prior direct experience or growth potential.

Society is changing and progressive businesses are leading the way in demonstrating this, but there is still more work to do.

We’ve already looked at how business school education (and the MBA, in particular) play a significant role in leveraging diversity, and showcasing the repercussions a lack of understanding can have in business and beyond.

In a recent study, 52 percent of employers said that having a good diversity initiative improves relationship with clients, while 79 percent said a good diversity initiative improves corporate culture, and another 77 percent said it improves the recruitment process of new employees.

The same study also reported that more than half of respondents considered how having a diversity initiative decreases interpersonal conflict among employees (58 percent), and increases creativity (59 percent) and productivity (52 percent). 

Clearly, it’s important to eliminate unconscious bias that’s rooted in cultural values, as other research demonstrates how culture, gender, race, nationality, and age can all influence an individual’s problem-solving and decision-making skills.

A lack of understanding and sensitivity can lead to major miscommunications, where such instances have been known to cause marketing campaigns, business strategies, as well as product/service launches to fail.

Shifts in mindsets can instead, spark innovation and ‘lightbulb’ moments, allowing leaders in the business to lead effectively and with integrity.