Diversity makes good business

In a world where every competitive advantage must be fully exploited, productive diversity ââ"šÂ¬Ã¢â‚¬Å“ utilising Australiaââ"šÂ¬Ã¢"žÂ¢s linguistic and cultural diversity to economic benefit ââ"šÂ¬Ã¢â‚¬Å“ offers a practical resource, which no organisation, including government, can afford to ignore. Astute employers have begun to tap this resource ââ"šÂ¬Ã¢â‚¬Å“ people who speak the language, understand the culture and often maintain business and personal contacts in countries where they want to do business. The respondents in this research tell the story of the potential bottom line value of this unique human resource, termed productive diversity (that has been coined to describe the use of our language, skills and cultural diversity for economic benefit). This is a resource-based study focussing on cultural resources and links to the country of origin as a sustained competitive advantage and a strategy for success of the ethnic business operations in Australia. It presents case studies/stories of ethnic entrepreneurs who have succeeded in business through productive diversity. Using correlation analysis and regression analysis techniques the article concludes that the success of ethnic small business is related to productive diversity principles and their continuous links with their country of origin.