Diversity Management As A Business Strategy - 2968 Words

Research Paper Assignment Diversity Management as a Business Strategy: A Literature Review Emmanuel Emenike Williams Course Name Number: GBUS 817 Instructor: Dr. Adrian Pitariu Date: December 11, 2014 Introduction The face of business has been changing very rapidly from national to global environment over the years through technological advancements (McFarlin Sweeney, 2013, p. 4). Emerging markets in developing countries continue to provide tremendous business opportunities for big corporations and multinational companies (McFarlin Sweeney, 2003, pp. 5-6). Consequently, many business organizations have begun incorporating strategic measures in their operations to align with the changing demands of a diverse global market. They acknowledge the fact that modern business opportunities have grown beyond national walls. However, there is no absolute guarantee that setting up international business ventures will automatically lead to better financial performance of a firm. It comes with a challenge – the challenge of incorporating workforce diversity and managing it efficiently with a view to achieving steady growth in productivity, revenue and profitability. Recognizing the enormous challe nges of cultural differences and ideologies in cross-national business environments, McLauren (2009) believes that diversity management â€Å"needs to be seen as the business plan, essential to successful products and increased sales. This is essentially true in today’s globalShow MoreRelatedUsing Diversity as a Strategy: Allstate Insurance Company1214 Words   |  5 Pagesstruggle more and more with the subject of diversity in the workforce. The latest strategy is to leverage diversity as a competitive business strategy. This paper will evaluate Allstate Insurance Company’s goal setting process and how they have used diversity as a strategy leveraging differences in order to create a competitive advantage in today’s diversified market. It will also discuss Allstate’s competitive advantage with the development of the Diversity Index and recommend what types of high-performanceRead MoreDiversity, Diversity And Inclusion, And Smart Risk Taking1290 Word s   |  6 Pagesdistributors network. For this purpose, Invivo’s management should focus on improving top two areas of its culture: diversity and inclusion, and smart risk taking. Creative thinking and collaboration can be encouraged in diversity and inclusion, and risk taking culture. Diversity means more than skin color or gender like if we are going to hire a bunch of new people, rather it means diversity of thoughts and ideas. In order to achieve this, the managements need to modify their mission, values, andRead MoreEssay on Diversity Case Studies1393 Words   |  6 Pages Introduction There is no doubt that today ¡Ã‚ ¦s business world is changing rapidly and many factors are also simultaneously interacting. Perhaps these factors are created by diversity. According to the dictionary, diversity is a point or respect in which things differ. In fact, diversity in the population, the work force and the market place give many benefits for organizations. Managers are to gain more knowledge on internal diversity in order to maximize the efficiency of workforce and profit.Read MoreThe Australian Workplace Is A Evolving Environment1483 Words   |  6 Pagesuniformity. This both contextual and individual concept is refereed to as diversity. Contrary to popular belief, diversity does not jus relate to gender, race cultural identity. Diversity is categorized into four main categories: organisational, internal, external and personality. From these categories, various experiences and perspectives arise, portraying the concept of diversity. Unless managed and understood properly, diversity can cause a wide range of obstacles in the Australian workplace, withRead MoreGlobal Diversity Management at Ericsson1598 Words   |  7 Pagesto the growing diversity in the workforce around the world, many companies have instituted specific policies and programs to enhance recruitment, inclusion, promotion, and retention of employees who are different from the privileged echelons of society. The privileged groups may vary from one country to the next. The workforce of the world is a dynamic environment, and in order for this dynamism to be put to use for the benefit of organizations, they must develop an effective strategy for managingRead Moreworkplace diversity paper1115 Words   |  5 PagesWorkplace Diversity In the 21st century, workplace diversity has enhanced organization performances and communication skills which benefited the organizations to become successful businesses. Increasing adaptability in the workplace, having to value diversity, and executing more effectively are three benefits of workplace diversity. Organizations most definitely have the ability to embrace their workplace diversity by helping their employees realize the benefits that enhances the business to becomeRead MoreCase Study : Ford Motor Company915 Words   |  4 Pages000 employees hence its human resource management is critical. Ensuring the HR Strategy Is In Alignment with the Business Strategy In the past, organizations have made the mistake of involving HR in the planning stages. Businesses are today realizing how important it is to align business with HR objectives. This is because HR is about people and people are the core of every business (Holbeche, 2012). When a business aligns its HR with its business strategies, employees become more efficient, and theRead MoreDiversity Management and Cultural Intelligence1260 Words   |  6 PagesCurrent Issues in OB Final Diversity Management and Cultural Intelligence Diversity Management and cultural intelligence is the crucial keys in today’s workforce to successfully compete in a global marketplace. Corporations can no longer use lack of cultural intelligence as an excuse. Organizations pursuing global success must embrace diversity in their thoughts, actions, and innovations. Diversity doesn’t just focus on making the numbers, but how the organization’s business model is rooted authenticallyRead MoreEssay about Alignment of HRM and Business Strategies760 Words   |  4 Pages Alignment of HRM and Business Strategies 1 Introduction Marriott is a universal chain of hotels that is designed to meet various needs and accommodations. The company was founded in 1927, by J. Williard and Alice S. Marriott. Their son, Bill Marriott, Jr. invested many years in developing and nurturing the business into one of today’s Fortune 500 companies. The company has a variety of businesses such as the Residence Inn, Fairfield Inn, Courtyard by Marriott and Marriott VacationRead MoreAchieving a Competitive Advantage: Managing Diversity1249 Words   |  5 PagesManaging Diversity can help an organisation achieve a competitive advantage Rapidly changing demographics in particular western countries place more importance than ever on the need to manage diversity in the workplace. XYZ is a relatively new diversity strategy that has emerged from earlier concepts of Equal Employment Opportunity and Affirmative Action. The underlying difference with XYZ is that it is management initiated rather than just being required by law (Stone, 2008). This essay will