Magazine article Management Review

Diversity: A Key Ingredient for Global Success

Magazine article Management Review

Diversity: A Key Ingredient for Global Success

Article excerpt

How's this for an encouraging statement? The most successful companies in the world have significantly more diverse top management than their less successful counterparts.

A recent CEO study by The Conference Board found that some 20 percent to 25 percent of the top 100 management positions are held by foreign nationals in companies that consider themselves the most successful and most global. This compares with 10 percent in all companies.

The report, "How CEOs Drive Global Growth," is based on a survey of more than 100 chief executives and interviews with business leaders. The individuals stress "the absolute need for a globally experienced cadre of executives from different parts of the world to really understand and seize market opportunities," says Melissa Berman, senior vice president of research and program development at The Conference Board.

The survey reveals a direct correlation between the time CEOs spend on global issues and their success in global markets. Executives at the best-performing and most multinational firms spend 40 percent of their time on global issues, against an average of 25 percent for all CEOs in the study.

Interestingly, most CEOs of successful companies interviewed say that strategic alliances are a necessary evil for beginning entry to world markets. …

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