some thoughts on DE&I

1. Diversity Inclusion Equity
• Diversity refers to the variety of individual differences and
social identities that exist within a community, organization,
or society. These differences can include but are not limited
to race, ethnicity, gender, sexual orientation, age, religion,
socioeconomic status, disability, and cultural background.
Embracing diversity means recognizing, valuing, and
respecting these differences and understanding that they
contribute to the richness and strength of a group or society.
• Inclusion is the practice of actively involving and valuing all
individuals within a group or society, regardless of their
differences. It goes beyond mere representation and involves
creating an environment where everyone feels welcomed,
respected, and supported. Inclusive practices strive to
eliminate barriers and biases that may exclude or marginalize
certain individuals or groups. It involves fostering a sense of
belonging and ensuring equal access to opportunities,
resources, and decision-making processes.
• Equity is the principle of fairness and justice. It recognizes that
different individuals and groups have different starting points,
needs, and barriers to success. Equity seeks to address
historical and systemic inequalities by providing everyone with
the resources, support, and opportunities they need to thrive.
It requires identifying and addressing the root causes of
disparities and working towards creating a level playing field
for all individuals, irrespective of their backgrounds.
• In your view, what shall be the key reason
due to which FG should make D&I&E key
business imperative
 Enhanced innovation and problem-solving: Diverse teams bring different perspectives, experiences, and knowledge, leading to more innovative ideas
and creative problem-solving. Totally consistent with FG Value . (Companies with diverse management teams achieve 19% higher innovation revenue than those
with below-average diversity levels. (BCG). Gender-diverse teams outperform non-diverse teams by 50% in terms of revenue and profitability. (Deloitte)
 Inclusive and diverse teams encourage open dialogue and different viewpoints, leading to more well-rounded and informed decision-making processes.
(Companies with diverse management teams achieve 19% higher innovation revenue than those with below-average diversity levels. (BCG).
 Inclusive environments where employees feel valued and supported lead to higher levels of engagement, job satisfaction, and productivity. Adding to
EEI . Organizations with diverse workforces are 35% more likely to outperform their industry peers. (McKinsey)
 Embracing diversity and ensuring equitable practices helps organizations avoid legal issues related to discrimination. It also safeguards their reputation
and enhances their brand image as a socially responsible and inclusive organization.
 Alignment with Social & International Phenomena .
• One Global Company’s Journey that we
should study and Why
GM’s (General Motors) journey in D&I&E can serve as a valuable case study for manufacturing concerns looking to prioritize diversity, inclusion, and equity
within their organizations. It highlights the importance of leadership commitment, supplier diversity, inclusive practices, community engagement, and
external recognition in driving meaningful change.
 Diverse Leadership and Board Representation: GM has made strides in increasing diversity at leadership levels. In 2020, they announced their
commitment to achieve 50% gender diversity in their global leadership positions by 2030. They have also focused on increasing representation of
underrepresented groups on their board of directors.
 Supplier Diversity: GM has been dedicated to supporting diverse suppliers, including minority-owned, women-owned, and small businesses. They have
set aggressive goals for supplier diversity and actively seek partnerships with diverse suppliers.
 Inclusive Workforce Practices: GM has implemented various programs and initiatives to foster an inclusive work environment. This includes unconscious
bias training for employees, employee resource groups (ERGs) to support underrepresented groups, and mentoring programs to promote career
development and advancement opportunities.
 Pay Equity and Benefits: GM has taken steps to ensure pay equity and fair compensation practices across their organization. They have conducted
comprehensive pay equity analyses and made adjustments to address any disparities. They also offer a wide range of benefits to support their diverse
workforce.
 Community Engagement: GM actively engages with diverse communities through philanthropic efforts and partnerships. They support organizations
that promote education, STEM initiatives, and economic development in underrepresented communities.
 External Recognition: GM's commitment to D&I&E has garnered external recognition. They have been included in various diversity and inclusion
indices, such as the Bloomberg Gender-Equality Index and the Disability Equality Index. They have also received accolades for their supplier diversity
efforts.