Introduction
With over 50% of the U.S. population(2019) identifying by a different culture or ethnicity you can say diversity is increasing. Diversity is increasing not only in the U.S. but around the world. With Over 70% of international business ventures failing due to cultural differences, CQ is becoming a necessity in business and everyday interactions.
The Importance
As of a 2015 study 49% of kids in the U.S. aged 5 or under are kids of color. The importance of CQ is becoming increasingly more relevant as the world continues to change. Cultural Intelligence will become a necessity in business and everyday life sooner rather than later. A recent Garner Webb study revealed that through 2022, 75% of companies with diverse and inclusive decision-making teams will exceed their financial targets. Interactions with people of different cultures and ethnicities is becoming increasingly more likely, this results in the need for CQ. Companies with more diverse leadership teams report a 19% higher innovation revenue. This statistic alone will soon influence the makeup of many leadership teams and decision making teams globally.CQ not only improves your ability to interact with others in your daily life, but 82% of HR respondents consider it a competitive advantage as well. With studies showing the benefits of having more diversity in the workplace as well, understanding CQ will also benefit you in the workplace.
