The economic success of Australia today is dependent on many factors including the choices that leaders make and whether the people leading the future are able to contribute to and participate fully in the economy.

FSG’s latest research; The Competitive Advantage of Racial Equity, explores the opportunities that can drive innovation and growth: creating business value by advancing racial equity. Developed in partnership with PolicyLink and funded by the Ford and W.K. Kellogg foundations, this research explores the business case for racial equity.

Top Takeaways

• By 2044, America will be a majority people of color nation. Yet, there are enormous inequities that people of color face in health, wealth, employment opportunities, and so on. These twin forces of rising diversity amidst persistent exclusion form a core challenge that American businesses must address to remain competitive.
• Companies can create economic value and advance racial equity by reconceiving products and markets, redefining productivity in the value chain, and strengthening the business context.
• To begin this work, business leaders must first develop a deeper understanding of why racial inequities exist and then take a fresh look at every aspect of their business to find opportunities for business innovation that can simultaneously advance racial equity and also benefit the business.

This article was adapted from www.fsg.org.