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During 2002, the Department of Immigration and Multicultural and Indigenous Affairs (DIMIA) hosted a series of consultation workshops around Australia, to explore how businesses are investing in diversity and the practical benefits resulting from it. These consultations were undertaken with Drake, the Australian Human Resources Institute (AHRI), Australian Industry Group Tyree Foundation and InnovationXchange. They involved 106 participants, representing 64 organisations from the manufacturing, information technology, heavy metals, hospitality, finance and services industry sectors. This document summarises the main findings of these consultations. Practical examples are provided to demostrate how some of the businesses who participated in the consultations have invested in diversity. Participants identified a number of key factors for measuring diversity as an investment opportunity. It is suggested that to fully appreciate the potential of diversity, organisations must be proactive in how they see diversity in the context of their business goals. It must be embedded as an integral component of an organisation's overall strategic management and business practices. The following key themes describe what participants believe diversity means to business and practical benefits that can come from it: diversity is an investment opportunity; creating inclusive workplaces; harnessing the full potential of the workforce, both in Australia and from the migrant program; making full use of employees' skills and talents; being able to understand all customers' needs; and using diversity to connect with overseas markets for competitive advantage.