Cultural values form the core of cultures and can include factors like time orientation, family obligations, communication patterns, interpersonal relationships, gender, education, socioeconomic status, and religious beliefs. Cultural diversity is important for businesses and communities to not only survive but thrive, as all community members need to feel respected and utilized. A culturally diverse workplace can provide benefits like improved customer service, access to new markets, and innovative ideas from a range of viewpoints, while a lack of diversity can lead to tensions, low morale, and poorer service quality.