With Regards To Diversity In The Work Force, Does The Size Of The Organization Matter?
Answers
Answer:
The Importance of Organizational Diversity
In the modern global market, diversity is essential to generating innovative ideas, understanding local markets, and acquiring talent.
LEARNING OBJECTIVES
Identify the advantages and challenges inherent in employing diversity within organizations
KEY TAKEAWAYS
Key Points
The business case for diversity is driven by the view that diversity brings substantial potential benefits that outweigh the organizational drawbacks and costs incurred.
Diversity leads to a deeper level of innovation and creativity, the ability to localize to new markets, and the ability to be adaptable through access to top-level talent pools and rapid decision -making.
In a global marketplace, organizations must be careful to adhere to all diversity-related laws and regulations. They must also be wary of mismanaging localization, ensuring that they maintain an ethical and culturally-sensitive integration with new regions.
Key Terms
discrimination: Distinct treatment of an individual or group to their disadvantage; treatment or consideration based on class or category rather than individual merit; partiality; prejudice; bigotry.
groupthink: A process of reasoning or decision-making by a group, especially one characterized by uncritical acceptance of or conformity to a perceived majority view.
There are many arguments for diversity in business, including the availability of talent, the enhancing of interpersonal innovation, risk avoidance, and appealing to a global customer base. The business case for diversity is driven by the view that diversity brings substantial potential benefits, such as better decision making, improved problem solving, and greater creativity and innovation, which lead to enhanced product development and more successful marketing to different types of customers.
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Globalizing and non-globalizing countries’ GDP growth: As noted in the chart above, globalizing organizations capture significantly better revenues in modern markets. “Nonglobalizing” countries averaged around 1.5% GDP growth in the 1990s, while globalizing countries averaged around 5% GDP growth.
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Answer:
Diversity and inclusion in the workplace cause all employees to feel accepted and valued. When employees feel accepted and valued, they are also happier in their workplace and stay longer with a company. As a result, companies with greater diversity in the workplace have lower turnover rates.
Explanation: