Despite all the rhetoric about the value of diversity, people of color and white women remain seriously underrepresented in many industries and in most companies’ senior ranks. One reason is that companies have tended to take an add-diversity-and-stir approach, while business continues as usual. Join Robin Ely, the Diane Doerge Wilson Professor of Business Administration at Harvard Business School and founder/faculty chair of the HBS Gender Initiative, as she explains why companies have made so little progress, exposes flaws in the current “business case” for diversity, and outlines what a 21st century paradigm for reaping the full benefits of diversity could look like and how leaders can foster it.