Boards at many organizations continue to comprise a rather predictable set of senior male executives. But businesses cannot compete globally, and meet higher-level stakeholder expectations, if this is allowed to continue.
Though the boardroom has traditionally been homogeneous in nature, there has recently been a gradual change in how shareholders are approaching the composition of their boards. Increasingly, the consensus is that focusing on cognitive diversity – where teams are diverse in their thinking, perspective and information processing style – is necessary if boards are to effectively steward the organization. Businesses must reflect not just their customer-base, but society as a whole. Not only is it right from a societal perspective, but the commercial benefits of doing so are clear.