Fortune 500 companies operate in diverse markets. Consider a company like Walmart, that has repeatedly ranked number 1 on the Fortune 500 list. They have stores throughout the world in diverse communities. Their operations must adhere to the laws of the countries, states, and cities that they operate in, and their products must serve the needs of the customers in the communities that they are based in. They are intentional about fostering diversity, and this is evident in their employees, the national and community organizations that they partner with as well as their Executive Team, and their Board of Directors. Their global presence requires leaders with diverse backgrounds, thoughts, and experiences to help the organization succeed in a wide variety of markets.
Without diversity in leadership, organizations may struggle to grow and meet the needs of the consumer (Hawlk, 2018). Unfortunately, racial and ethnic minorities face significant barriers in becoming leaders. Identifying these barriers is essential to developing a pipeline of diverse leaders and sustaining them throughout their careers.
Authored by Khaliah Fisher-Grace, PhD(c), MSN, RN, CPHQ, PCCN-K
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