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Racial Diversity, Business Strategy, and Firm Performance: A Resource-Based View
Orlando C. Richard
The Academy of Management Journal
Vol. 43, No. 2 (Apr., 2000), pp. 164-177
Published by: Academy of Management
Stable URL: http://www.jstor.org/stable/1556374
Page Count: 14
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Although "valuing diversity" has become a watchword, field research on the impact of a culturally diverse workforce on organizational performance has not been forthcoming. Invoking a resource-based framework, in this study I examined the relationships among cultural (racial) diversity, business strategy, and firm performance in the banking industry. Racial diversity interacted with business strategy in determining firm performance measured in three different ways, as productivity, return on equity, and market performance. The results demonstrate that cultural diversity does in fact add value and, within the proper context, contributes to firm competitive advantage.
The Academy of Management Journal © 2000 Academy of Management