Giving Compass' Take:

• Writing for TriplePundit, Bloomberg Media Group's Justin B. Smith emphasizes the importance of inclusivity in the media world to get better perspectives and foster more innovation.

• This would also help communities trust news outlets more: Those whose voices are typically dismissed or muted must be heard — and this is where nonprofit missions can align with the process Smith describes.

• Here's how philanthropy can support initiatives that promote greater diversity in newsrooms.

It is no secret that the media industry is experiencing an unprecedented level of disruption. This has upended legacy business models, but has also created a wave of new opportunities. To successfully navigate this changing media landscape, the industry needs bold ideas and innovative strategies brought to life by broad and inclusive talent cultures.

Our ambition for Bloomberg Media Group is to be the world’s leading business and financial media on every media platform and relevant geography, all in service of Bloomberg LP. Given the diverse nature of our businesses, I view it as my responsibility to constantly foster a team culture that is inclusive and inviting for people of different backgrounds and perspectives.

I was born to American and British parents, raised abroad and only came to live in the United States for the first time for high school and college. I have had the opportunity to live in many different countries including China, France, England, Indonesia, and Burkina Faso in West Africa. Around age fourteen, I became fascinated with Mandarin, studying the language and learning to write traditional Chinese characters ...

My life experiences have instilled in me a deep appreciation for the power of diversity in making organizations richer and stronger. I believe that it’s an essential truth that when different perspectives are brought together, the end result is substantially greater. In charting a course through a changing media landscape, we need to be radically open to new ideas and approaches. What works well in one country or on one media platform may not work in others.

Read the full article about why diversity in media is not negotiable by Justin B. Smith at TriplePundit.