Diversity is the key for Business Success
In this modern age, it’s important to understand that diversity & inclusion is not an option but it a requirement for many businesses to consider. In this article, In this article, we’ll explain why we take diversity seriously.
First of all, diversity & inclusion (D&I) is one of the perspective to look at companies that is considered significantly important for customers. Depending on your D&I status, it will increase your chance to scale your business.
Women, being the opposite gender, is one clear example of increasing the odds of success by virtue of them experiencing life differently as another gender.
For example, Procter & Gamble (P&G)’s Chief Brand Offier, Marc Pritchard, made an announcement at Cannes Lion in 2018 that successful advertisements could appeal gender equality by the way in which women are portrayed and it would improve customers’ trust for the corporation by 10% and increase sales by 26%. This statement is so powerful to come from the global corporation like P&G. P&G has been famous for its effort in D&I especially working condition for women for a long time now. They are one of the first to release the D&I corporate report, which wasn’t adapted by other major companies like Google, NBC, and so on.
Also speaking, the population of non-white community in the United States is growing, and so is their spending power. According to the analysis published by Nielsen, the spending power of African American community is $131 billion annually by 2020. This indicates the importance of cultural and ethnic l portrayal of growing community for the financial success of US business. The same report also mentioned about the growing spending power of LGBTQ community as well.
In 2018, Target released women’s swimwear in all body type. This campaign was welcomed and applauded by the market. By creating a accurate portrayal of female body, it encouraged a lot of women to love their own body shape and to nurture self-confidence and appreciation. In this case, Target embraced diversity of body type, as opposed to elevating them to impossible standards that all fit one type. This type of advertisement is very much in line with what we strongly believe.
At Prodigium Pictures we also encourage diversity – our three partners are Japanese, American and Austrian, respectively. We strive to have 50/50 gender representation on our sets, and include minority representation as well. Not only is it morally progressive, but it creates innovation and insight from a vast diversity of thought, which lessens the propensity for groupthink.