1. Why Having a Diverse Board Is Good for Business

    Why Having a Diverse Board Is Good for Business

    The more perspectives you have, the more likely your board is to have productive discussions that will better serve your business. Why is it important to have a diverse board of directors? A diverse board serves your company in many ways. The purpose of a board of directors is to guide the company – it is in the company's best interest to make sure that the board is capable of looking at issues and challenges from many perspectives...

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    1. Diversity can be looked at from a number of viewpoints.
    2. Boards can too easily slip into groupthink, where ideas are rarely challenged and the board does not update its own thinking.
    3. A business owner cannot know everything.
    4. If a board is made up of entirely like-minded people from the same backgrounds, it's essentially a sounding board that will agree with any decision and not have new ideas or perspectives to share.
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