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Why Business School need more diversity into Faculty?

Business Schools for an International MBA

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As we all talk about bringing diversity among students from various cultures in the university, we tend to include the faculties with different diversified backgrounds due to many reasons. One of the primary reasons is that it is one of the ways of generating students from diverse backgrounds to be a part of the crucial part of the organizations. Exposure to the diversified Faculty opens up the mind of the students.

Nowadays, the college authorities look forward to hiring faculties based out in varied geographies. Institutions are making strides in bringing diversity in students and faculties. The diversity discussion has moved ahead from meeting rooms and experts. As they have been hired for creating cultural and systemic changes to shape a shift in institutions hiring, recruiting and promoting faculty members.

Importance of diversity in business:

Many analysts have recently demonstrated that leadership diversity in companies is about to bring financial benefits if implemented for long-term. One of the studies performed by Boston Consulting Group or BCG documented that diversity tends to point towards the increasing of the bottom line for ventures. They state in their reports that increasing the diversity in the leadership teams can create better innovation and financial performance is also seems to be striding high. The figure ranges to 19% higher revenues on employing diverse management teams due to better change.

While another study published by Womenrising30 organization found that the presence of women in the upper management position enhances profits and mission-based objectives of the company like climate change issues, eliminating hunger, poverty, etc.

In MBA programs or any curriculum related to management, diversity plays a significant role. As the programs are said to be constituted by students hailing from various backgrounds, places and experiences. But, the classroom learning can be challenging for the one bringing different perspectives on the table. Students are affected by cultural fluency and comfort level. If they are working with others with whom they share a common background. Diversity in classroom sessions can subject to debate on many topics leading to innovation. However, the innovation attitude is desired by the sustainability which is desired by our world today.

Therefore, the diversity in various background challenges students to regressively evaluate and reevaluate to continue improving and innovating based on what right and fair for the stakeholders. Nevertheless, The MBA programs produce diversified leaders who are best prepared for leading various mission-driven ventures and other initiatives for the 21st century.

Let’s know the advantages of hiring Faculty through diversified background:

Faculty hired should look like from the real world:

The business school community tends to provide a significant reflection of our present and future society. The applicants like to see themselves among the population of the campus, inclusive of administrators, alumni, administrators and others.

On identifying being as a part of those culturally the women and other underrepresented minorities feel that everything is possible if they take a particular path. On finding other people possessing similar characteristics succeeding the students and other applicants ought to feel empowered. They tend to make their exposure with various viewpoints and realize that the achievements they have dreamt off are possible.

Diverse Faculty pertains better training for the team:

The faculty members identify themselves with other underrepresented minorities and can start necessary conversations related to sexism, racism and various other prejudice at the workplace. As a result, they can allow people to be ready for leadership roles in the corporate world and understand better the circumstances. If they could be leading people with diversified groups and backgrounds. They ought to bring the perceptions which the other diverse groups never had.

The education in all the ways is moving towards practicality. The goal is to help people in enhancing their resume or portfolio to find a better tomorrow. Therefore on recognizing the challenges and opportunities related to diversity. It is found to be the necessity for leading tomorrow business arena.

Attract diversified applicants:

Once the applicants find themselves in faculties and other relevant stakeholders of the college are likely to choose the institution. The underrepresented minorities and women are not recognized as being the merits of any business schools. And the numbers need to be moved upwards in a positive direction to create a diversified environment for learning. For instance, it can be seen for women yet to reach the 50% mark. And are looking forward to signing up for the jobs related to the consulting leadership and finance.

However, the underrepresented minorities can look ahead to stand more for representation at various business schools. And look forward to finding their place in the C-suite. In other words, employing a diversified faculty in one way or the other can appeal to the minority and can continue the progression.

Attracting recruiters:

Influencing bottom line, the diversified workforce in any organization is the right thing to have. Forecasting future, no one can choose to ignore the importance of changing demographics. This is the reason why people consuming services and products tend to be reflecting their values and choices. To stay relevant, diversification is the key ahead.

Also, the various business schools are taking significant actions to employ a diversified workforce. As the risk of missing out on recruiters from multiple parts and sectors of the world is quite high. The chances are on a higher side that recruiters are likely to be diversified. As they are categorized based on employment and the value they will create for the institute on the association.

In conclusion, the education, sector diversity is found to be the biggest issue. This is the reason why students are in unrest due to the poor implementation of the same by the business school across the years. Lastly, this is the 21st century and to be a part of any organization the student culture, comfort level, etc., needs to be supported throughout his tenure.

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