Issue link: http://www.e-digitaleditions.com/i/52321
from the editors Committing to Diversity D iversity is kind of like ethics. Most corporations insist it's an essential part of their mission statements, but their actions—and their boardrooms—often indicate oth- erwise. In fact, research suggests that multinational corporations aren't making much progress at achieving gender or ethnic diversity at the highest levels. In July 2011, the Web site DiversityInc.com compiled rather disheartening statistics about U.S.-based MNCs that operate all over the world. There are four black CEOs of Fortune 500 companies, nine Asians, and five Latinos. Twelve Fortune 500 companies have women in the top slots. Meanwhile, a study done by the European Commission found that only 12 percent of the board members in Europe's biggest companies are women. Businesses that overlook diverse populations do so at their peril. DiversityInc has also gathered statistics about how the purchasing power of various minorities has grown in the past 20 years and how it's projected to increase in the next decade. Corporations that don't recognize the economic strength of underrepresented groups risk losing a vital, powerful cus- tomer base. And to reach those groups, companies need to hire diverse workers. And to find those workers, organizations look to business schools. Business schools are gearing up for the challenge. In "Glimpses of Diversity," we profile four schools—one from the U.S., one from France, one from South Africa, and one from New Zealand—that have launched initiatives aimed at diversifying their student bodies. Their efforts include everything from targeting teenagers in eco- nomically disadvantaged neighborhoods to promot- ing on-campus clubs that strengthen peer bonds among minorities. Many other schools surely have similar goals, but so far, in most cases, the results aren't perfect. For instance, in the U.S., African Americans make up about 13 percent of the overall population, but they represent only 9.5 percent of the undergraduate busi- ness school population and 4.9 percent of the stu- dents in doctoral programs. That figure, presented in the article "Diversity by the Numbers," comes from data compiled by AACSB International. But the article holds encouraging news as well: For instance, schools around the world have been hugely successful at internationalizing their campuses by recruiting faculty and students from outside their own borders. That means everyone at these schools is getting a chance to meet people who think, talk, and look differently than they do. It's not enough, but it's a start. When executives are comfortable with a wide range of people, they're more likely to recruit and promote a wide range of employees. Then they'll truly be putting the "multi" into multicultural organizations—whether those are international corporations or the business school down the street. 6 January/February 2012 BizEd RAQUITA HENDERSON IMAGEZOO/GLOW IMAGES