Why Diversity is a Competitive Advantage in Business

In this interview with the Institute for Business in Global Society, University of Iowa professor and HBS BiGS Visiting Fellow Victor Ray discusses how companies like Apple and Costco demonstrate that diversity policies can strengthen the bottom line. Amid political backlash, many organizations have scaled back public-facing diversity campaigns but continue to invest in internal policies that drive long-term business success. Ray explains that diversity helps companies expand market share, attract top talent, and maintain a competitive edge. He suggests that businesses can navigate the current climate by sustaining effective, less controversial diversity initiatives that contribute to growth and stability.