ELI5: Explain Like I'm 5

Diversity (business)

Diversity in business means having different kinds of people working together in a company. It is like having many colors in a crayon box, where each color is different, but when we use them all to draw a picture, it makes the picture more beautiful and interesting.

In business, diversity means having different people with different backgrounds, cultures, genders, ages, and abilities working together. This helps the company to understand and serve different types of customers better. It also means they can think of different ideas and solutions because they come from different points of view. Just like when we play with our friends who are different from us, we can learn new games, stories and songs.

Diversity is important because when a company has only one type of person, they may not have everyone's best interest in mind or may miss some important details. For instance, if all the people who work in a company are men, they may forget that women also use their products or services. Creating a diverse workforce helps everyone to understand each other and work together as a team.

In short, diversity in business means having different people working together to create a better and more successful company.