This Type of Diversity Is Key to Alibaba—and Companies Are Totally Missing It [Fortune]
Alibaba Group Holding Limited American Depositary Shares each representing eight Ordinary share (BABA)
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Source: Fortune
While corporate boards have focused recently on increasing their diversity in terms of race and gender, they may be overlooking another type of diversity that’s especially crucial to innovation: age. The reason: Boards with a broader age range are likely to be better at identifying and anticipating sea changes in the industry that companies must adapt to or die, John Chambers, chairman emeritus of Cisco Systems , argued Monday at Fortune’s inaugural Brainstorm Reinvent conference in Chicago. “You miss it by two to three years, you miss it forever,” Chambers said. He added that he was on the board of Walmart when Amazon surpassed it in market value in 2015, suggesting that a greater diversity of viewpoints might have convinced Walmart’s directors to bet on e-commerce sooner. “We saw ‘em coming,” added Chambers, who also invests in startups as founder and CEO of JC2 Ventures. He underscored his point with some statistics: It had taken Tesla 14 years to
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- 2/23/24 - Form 20-F/A
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