Question: How can diversity give a company a competitive edge? Can diversity really make a difference in the bottom line?
For each question, write a 1-2 paragraph response in which you:
Answer
✓ diversity refers to the workforce of an organisation, who have diversed background, cultural and religious values, attitudes, perspective, nationalities, capabilities and personalities. These workforce or employees are hired from around the world and it it became possible due to globalisation. Every business organisation want to achieve and work for global standards and take their business to another realm of success with competitive strength. To meet this objective, employees who come from diversed areas with different capabilities and talents can be a great source. They offer innovative ideas, new methodology, share knowledge and help each other for enhancing the performance growth. Diversed group of employees provide alternative problem solving methods, they promote teamwork and group think and also helps the organisation stay competitive with their effective services and enhanced productivity. This positiveness can be seen where there is a diversity management and an environment respecting and providing harmony to each member.
Diversed members can help in meeting the strategic goals with their Innovative ideas, technologically advanced skills, and talent which enhances the firms performance and increase the bottom line(profitability). There effective management with a diversity and cross cultural training with skills and development can be a true boon the firm. These members are made to work in an integrated manner with Flexibility in work patterns, empowering and giving them autonomy so that they will come up with better ideas and unique concepts which helps the firm to offer new products and keep the business competitive in the market. When the business enjoys competitve power its sales increases, which enhances it's profitability to a greater extent.
Question: How can diversity give a company a competitive edge? Can diversity really make a differ...
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