Innovation Without Borders Series

Innovation without borders is a broad concept encompassing both the challenges and opportunities for businesses and societies that stem from global migration. Although we live in a world in which the movement of people is much more tightly restricted than is the transit of capital and goods, there’s plenty of impetus for global migration:

Those are compelling drivers, but while 95% of executives tell us they plan to embrace global migration and talent, only 5% do so in a manner that is truly strategic and generates real impact. The hesitation? Culture. Executives worry about the cultural changes that may arise and the challenges that come with leading and uniting globally diverse teams.

Businesses can, however, leverage and embrace global talent and innovation strategies to drive action—an effort that is both achievable and valuable. BCG’s research on global migration reveals that companies that view global diversity as part of their DNA are more than twice as likely to be world-class innovators and fast-growing companies. Given the Ukraine War and ongoing conflicts in Afghanistan, Syria, and elsewhere, it’s critical to remember that not all migration is voluntary; this makes the moral obligation of expanding global migration opportunities all the more urgent.

Through our research into the strategies and operational best practices of globally diverse firms, we developed the novel benchmarking tool BCG Globally Diverse Teams – Scan, which allows companies to quickly determine their current starting point and assess their high-impact levers to drive forward action.