What is Diversity?
What is Diversity?
In which ever context the word diversity is used, it basically means having elements that have a range of visible and invisible differences. These elements could be people, investments, areas, species and many other groupings that have variety. Diversity if appreciated can result in great achievement as all parties have a unique input that is often exclusive to them and which delivers significant impact on the entire group if it is allowed to flourish along the input of other members.
Social diversity has always been a challenge, with most people preferring to live, work, associate and relate only with those whom they consider to be of their class, culture, age, religion, sexual orientation or race. This has often led to discrimination of minorities which in many cases has been the cause of conflicts around the world. Those who are not tolerant to diversity are mostly ignorant of the benefits that can come from having people from different backgrounds and cultures working together for the greater good. One of the reasons that the US was able to rise to its super power and world leading economy status is because of the diversity of its society. There are individuals for each part of the process towards success. When differences are appreciated they often lead to the various parts complimenting each other and an ability to achieve more.
Ecological diversity has to do with having a variety in nature and is often referred to as biodiversity. In this natural setting there is a clear demonstration as to the importance of having each member and the serious consequences of losing any part of the eco system. Just like any other system, failure or loss of one part simply means that the system will not be able to deliver fully to the rest of the members. Biodiversity serves as the best example where there are no greater roles or superior members, there are simply different roles with members depending on each other at different levels.
Diversity in investments is a key principal for all successful investors. The reason for this is mainly to cushion oneself from total loss incase of failure in a particular sector or company. This follows the wisdom of not putting all your eggs in one basket. By investing in several sectors and companies you reduce the possibilities of loosing all your investment incase of economic challenges arising. It actually increases your opportunity to profit since challenges in some sectors will often increase business for others. Crisis in the coal industry will most likely increase business for the oil industry, investing in both will even out the loss you would have suffered if you had invested in the coal industry only.
All these examples have shown that diversity is natural and meant to serve the group and its members if properly harnessed and allowed to flourish. Societies, organizations and countries that have learnt to embrace diversity have gained great advancements from the contributions of their unique members. Diversity allows each to excel and this propels the entire group to great heights.