Diversity Bonus: How Great Teams Pay Off in the Knowledge Economy

The Diversity Bonus argues that workforce diversity can improve business performance by improving problem-solving, innovation, and accuracy predictions. It provides evidence from economics, psychology, computer science, and other fields and showcases examples of businesses that have successfully tapped the power of diversity to solve complex problems.

Format: Paperback / softback
Length: 328 pages
Publication date: 26 March 2019
Publisher: Princeton University Press

Introduction:
In today's globalized and interconnected world, workforce diversity has become an increasingly important issue for businesses and organizations. While diversity has been recognized as the right thing to do, there is growing evidence that it can also have a significant impact on organizational performance. This essay will explore how businesses and other organizations can leverage the power of differences in how people think to improve their performance.
The Diversity Bonus:
Scott Page, a leading thinker, writer, and speaker, presents a compelling practical case for diversity and inclusion in his book, The Diversity Bonus. Page argues that teams that include different kinds of thinkers outperform homogenous groups on complex tasks, producing what he calls "diversity bonuses." These bonuses include improved problem solving, increased innovation, and more accurate predictions, all of which lead to better results.
Page draws on research in economics, psychology, computer science, and many other fields to support his arguments. He shows that diverse teams are better able to identify and solve complex problems because they bring a wider range of perspectives and experiences to the table. Diverse teams are also more creative and innovative, as they are able to draw on a broader range of ideas and approaches.
In addition to these benefits, Page also presents the stories of businesses and organizations that have tapped the power of diversity to solve complex problems. For example, he discusses how Google has used diversity to improve its search engine algorithms, resulting in better search results and increased user satisfaction. He also discusses how Procter & Gamble has used diversity to develop new products and marketing strategies, resulting in increased sales and market share.
Conclusion:
In conclusion, businesses and other organizations can improve their performance by leveraging the power of differences in how people think. By creating teams that include different kinds of thinkers, organizations can improve problem solving, increase innovation, and make more accurate predictions. The Diversity Bonus provides a compelling practical case for diversity and inclusion and shows how businesses and organizations can tap the power of diversity to solve complex problems.

Weight: 360g
Dimension: 136 x 202 x 18 (mm)
ISBN-13: 9780691191539
Edition number: 2 ed