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Not in a sense of company's survival but the more diversified or multi cultural the environment is,it will be easy foe employees to adjust and perform their work.but in my opinion work environment is more important than multi cultural thing.
I always believe in the old adage that "No man is an island" and in truth, we cannot survive alone. It applies to many aspects of lives - home, family business and work. Though there are some challenges being faced working in a diverse or multicultural working environment, we have to admit the fact that we have gained a lot of benefits from it. It's just a matter of understanding, accepting and respecting one's differences. Expatriates would usually undergo the period of adjustments working with different nationalities with the different religion, belief, culture, and traditions. After the period of "blending" is over, we would soon realize the importance of the contribution of each nationality. Let us not be "all knowing". Let's accept the fact that they have something that we don't know and we have something that they don't know either.
I would like to quote3 habits as part of Stephen Covey's published book -7 Habits of Highly Effective People -
Habit4: Think Win/Win - you cannot win in a situation where is no understanding and full of animosity. Collaborating and working together as a team to reach the common goal should be the goal of everyone regardless of your color or race. There is no better way to work in a very healthy and conducive working environment- where everybody is the winner:-)
Habit5: Seek first to understand, then to be understood. Understanding the differences - religion, belief, culture, and traditions -will lead to respect and respect will lead to a better working relationship in the attainment of the company objective.
Habit6: Synergize - one secret of success and to be highly effective is to understand the power to synergize. Putting together all our resources -intellectual and technical know-how, sharing valuable experiences and inputs. Merging all talents, and being the selfless contributor to succeed is the true meaning of synergizing.
Remember - There is STRENGTH in DIVERSITY!!