Multicultural Competency in Today's Business World Student NameInstitutional AffiliationDateMulticultural CompetencyMulticultural competency refers to the acquired skills, personal attributes, and knowledge essential to living, work, and thrive in the diverse business world. A culturally competent person can effectively work and interacts while developing meaningful relationships with people of different cultural backgrounds. Cultural competence is a lifelong process that involves developing different social behavior and skills, increasing social awareness while increasing the ability to advocate for others (Ahmad, Ihtiyar, & Omar, 2015). In the corporate world, cultural competency goes beyond tolerance, where a culturally competent person recognizes and respect the diversity of all customers or shareholders. Multicultural competency is essential for any business because anywhere there are people; there are behavioral and communication differences. However, it is essential to remember that building a culturally competent business and understanding cultural differences is not only an essential skill to global businesses but also to the local businesses. Importance of Multicultural Competence Small businesses can learn a lot from the global organizations that utilize principles of multiculturalism to thrive in the current competitive business world. Multicultural competence