Final answer:
Cognitive diversity is often most effective for attracting new markets due to its enhancement of problem-solving and innovation within a company. Ethnic and gender diversities are also important as they reflect the customer base and can improve teamwork through diversity training.
Step-by-step explanation:
When aiming to attract a new market, the type of diversity that generally best improves a company's chances is cognitive diversity. This form includes differences in perspectives, information processing styles, and heuristics among team members. It allows a company to approach market challenges and opportunities from various angles, leading to innovative solutions and a more comprehensive understanding of new markets. Although ethnic diversity, gender diversity, and age diversity can contribute significantly, especially in global markets where representation can equate to better insights and market penetration, cognitive diversity directly impacts the creative and problem-solving capability of the organization.
Racial and ethnic diversity is on the rise in workplaces, which helps in reflecting the diverse customer base and can improve teamwork by bridging cultural differences. Diversity training plays a crucial role in maximizing the benefits of a diverse workforce by educating participants about cultural differences and fostering an environment of cooperation and mutual respect.