Susanne Tedrick explains why she believes that the diversity, equity and inclusion agenda should be incorporated into all MBA curricula
While MBA programmes often offer diverse specialisations, such as technology, entrepreneurship, or marketing to name but a few, programmes generally offer a ‘core curriculum’ for students. The prevailing sentiment is that when students take courses in areas like management strategy, accounting, economics and finance, they are well equipped to handle the myriad of challenges that business leaders face on a continual basis.
In recent years, business schools have been integrating courses that focus on diversity, equity and inclusion (DEI) within their curricula as well. Some of the reasons for this are well documented. From the standpoint of business outcomes, many studies, done by the likes of prestigious consulting firms such as McKinsey and Deloitte, highlight the fact that those businesses with diverse teams (along dimensions that include race, ethnicity, gender and sexual orientation) are more likely to financially outperform their competitors, attract and retain top talent and be considered ‘innovative’. From a compliance standpoint, having this understanding of DEI can help organisations comply with any legal requirements and ensure that they are not engaging in discriminatory practices.
There are ways we can justify the investment of time and financial resources in DEI classes and training, but these aren’t the only reasons and to some extent they short change the rationale behind saying that DEI should be integrated into business school curricula. Here are some additional factors to consider that fully justify its inclusion.
Innovation
Companies that make continual investment in innovation generally outperform those who do not. They can realise cost savings by creating efficiencies that improve their processes, create products and services to attract new customers and increase market share and better customer success outcomes.
Organisations can help to build innovative practices and approaches that will lead to positive outcomes by ensuring that they are building (and retaining) diverse teams. Diverse not only in terms of the dimensions of race and gender, but in diversity of professional, academic and personal experiences as well. The sharing of ideas and unique perspectives can better equip to serve more a wider range of customer bases and create more innovative products and services to reach broader audiences. Diverse teams also have an advantage over homogenous teams, as they can better identify and address complex problems, which can in turn lead to more effective solutions.
Globalisation and cultural competence
In years gone by, business leaders were primarily concerned with advancing their companies’ success against competitors who were local or regional, or operating at a national level. However, due to advancements in technology, changes in trade policies, highly mobile workforces and so on, this is no longer the case. Businesses are now competing against one another on a global level.
As such, leaders often find that they need to be able to understand the cultural norms, customs and practices of the areas in which they operate. This might require adjusting marketing strategies, product offerings or adapting workplace practices that are a reflection of their local community. Lastly, other countries may have different legal and compliance frameworks towards DEI that should be followed, otherwise there could be negative repercussions, from a client relationship perspective, as well as from a legal or financial perspective.
Social responsibility
Savvy business leaders understand that some clients and customers make decisions as to whether to do business with an organisation based on their commitment to social responsibility. Those organisations that are engaging in socially responsible behaviour are usually viewed very favourably. But good, intentional leaders, ie those who have a sustained commitment to goals and initiatives, see this as something more than just saying the right things and ‘virtue signalling’ to make a profit.
Rather, leaders recognise the need to establish trust and strong bonds with all its many internal and external stakeholders, as well as promote practices that minimise harm to others, while maximising the organisation’s long-term success. By understanding what have been the historical and structural barriers that have created inequality, leaders can begin to create systems that are more inclusive and equitable.
Creating diverse teams
It cannot be overstated that having a deep sense of empathy and understanding of others, regardless of their background, is crucial for all leaders. Those who can acknowledge the importance of DEI, as well as talk about difficult topics candidly and transparently, such as bias and microaggressions, are more likely to be viewed positively by their peers and subordinates alike, and regarded as someone who is an authentic and trustworthy ally.
Susanne Tedrick is the co-author, with Bertina Ceccarelli, of Innovating for diversity: lessons from top companies achieving business success through inclusivity, and author of Women of colour in tech: a blueprint for inspiring and mentoring the next generation of technology innovators, both published by Wiley. She is a cloud computing trainer for a Fortune 500 technology company. Fiercely committed to increasing the participation of women and people of colour in STEM professional opportunities, Tedrick has performed community service work for a number of non-profits, including serving as the former chair of the Advancing Tech Talent and Diversity Executive Council for CompTIA and as a coalition member for NPower’s Command Shift initiative
