Diversity often tends to be undervalued as a crucial element in risk management. The peril of groupthink can pose significant threats within companies.
A prime example highlighting this danger is evident in the glaring lack of diversity on Theranos’ board, consisting solely of middle-aged or older white men. This homogeneous composition enabled Elisabeth Holmes to perpetuate her schemes unchecked for an extended period of time.
Unfortunately, this prevalence of groupthink and the absence of diversity within boards is more of a norm than an exception. We have to do something about it, fast.