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Importance of diversity in organizations
Importance of diversity in organizations
Why diversity is important for employees
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AETNA’s diversity strategy is a unison of business strategy and values. Integration, communication, and education are its core components. AETNA’s ICE strategy in conclusion is to more effectively serve customers in its present-day market, while establishing prospects in new markets. “It recognizes that Aetna’s future success depends on a deep knowledge of all employee segments; clear and consistent communication to disseminate information to employees, customers and other key constituents; and an increased focus on developing the cultural awareness and competency necessary to sustain its business success” (Cascio, W., 2009, P. 8). “To be sure, Aetna’s ICE strategy extends well beyond diversity awareness to that of a strategic advantage” (Cascio,
With an evolving market in the various fields marketing, companies needed to readjust their and update their marketing strategies. Centuries ago, a company that needed to market for its products would just post a paper note at the main town street and if people liked the product it would be sold. In the 21st century, marketing became an essential field and necessary branch in any company that plans to succeed. Aetna recognized this necessity and while analyzing the company’s strategies and structure, one can recognize the un-doubtful organization in identifying their target market. Through the creation of different subsidiaries, Aetna, Inc. is able to organize its target market and classify their various services based on the target market’s specific demographics.
Pollar, Odette & Gonzalez, Rafael. (2011). Dynamics of diversity: strategic programs for your organization. Boston, MA: Crisp Pub Inc.
When aligned with Organizational Objectives, diversity can be a powerful contributor to the organizations competitive advantage.” (Best practices page 9)
Cox, T., and Blake, C. (1991). Managing Cultural Diversity: Implications for Organizational Competitiveness. Academy of Management Executive vol. 5 (3). Retrieved from (http://www.jstor.org/discover/10.2307/4165021?uid=3738832&uid=2&uid=4&sid=21101348728463).
Aetna goes above and beyond the regular legal requirements of providing equal employment because its employees are not only diverse in gender and race, there is also a diversity of background, training, functional experience, generational identity and many more aspects. The company is made up of more than 35,000 employees, 31% of those are people of color, and 76% are women. The diversity of the company also shows in the management, people of color hold 16% of these positions and women hold 30% of these positions. Aetna also shows their strong support for diversity through community involvement and leadership on employment and diversity issues. The company called 2009 “Year of the Woman” because it celebrated 100 years of employment of woman.
Diversity is what propels organizations to greatness. When organizations have a diverse membership, it fosters a sense of creativity, acceptance, and cultural competency. Altogether, diversity exists in the form of differences in age, sex, gender, race, ethnicity, value, religion, sexual orientation, backgrounds, experiences – essentially anything unique to individuals. Therefore, organizations that capitalize diversity enable those of various perspectives to bring forth new ideas and thoughts to the organizations. To further illustrate this idea, at the Robert Morris University Phonathon, diversity initiatives within the organization seek to not only attract a diverse workforce, but also attempt to improve communication among the diverse members of the organization.
A diverse mindset is a mental representation of team diversity (Cannon-Bowers et al., 1993 and Salas and Fiore, 2004). The team diversity comes from a cultural background. For the reason above cultural diversity give you a sense of identity and it helps you shape a business, product or even a brand. However, cultural diversity may also constitute an important informational resource (Cox, 1993 and Ely and Thomas, 2001). For instance, Fage was not always an international business and the only to know what the quality of the product was before making Fage international was research on its background. Researching help consumers find the diversity of a
The world is a forever changing climate of people. This requires companies to change with the times. The introduction of different cultures, beliefs, and diverse backgrounds requires a new approach for managing a larger arrange of people. People no longer work in a time of intolerance. Diversity is about the many things that make us individuals and also the similarities that bring us together. Companies should diversify the organizations because it is shown that diversification will increase profits, build a more cohesive work environment, and show appreciation for foreign culture.
Estée Lauder continued to implement the Global Inclusion and Diversity Strategic Plan, the guideline for making the workplace welcoming to everyone in order to enhance the power of the company. They value the diversity of people, and their one-of-a-kind talents, regardless of the background, culture, ethnicity, gender, sexual orientation, religion or physical ability. Additionally, they encourage the employees to create, offering some learning opportunities that help to identify and taking advantage of the strengths of the workforce and unleashing their potential for growth. They also introduce a seminar to educate their employees about the policies and perspectives on inclusion and diversity, providing solutions to common challenges when moving
An important element to understanding and managing diversity includes being able to research data on diversity and multiculturalism and evaluating its impact on society via the internet. Web sites in the health care industry are of importance in communicating to its viewers’ commitment to promotion of equal opportunity which promotes a diverse work force for present and future employees, patients (consumers), and contributors (investors) to the health care facility. Covenant Health promotes the mission statement, “Covenant Health is the only integrated health network in the region dedicated to a Christian mission of healing by caring for the whole person - body, mind and spirit by working with others to
In a world that has grown increasingly smaller due to mass media, world travel, and readily available information, the workplace has grown increasingly diverse in both gender and cultural aspects. Individuals no longer live and work within the confines of their geographic locations. At almost any position with any company the individual employee is a part of a larger world economy that harvests assets from the ends of the earth. Because of this, companies seek to capitalize on diversity to become more creative and flexible in their business models.
There is the assertion that diversity is a positive factor that results in an economic competitive advantage for businesses. The Chinese concept of Yin and Yang illustrates that diversity and inclusion and innovation are intrinsically interconnected. Strategies for business growth, expansion into new markets and mergers and acquisitions could be enhanced by diversity and inclusion. As Katherine Phillips reports in Scientific American, “Diversity can improve the bottom line of companies and lead to unfettered discoveries and breakthrough innovations.” Organizations that cultivate an inclusive environment, making the most of diversity can generate innovations helping them outperform the competition. The reciprocal relationship between diversity
We live in a country that is fueled by diversity. Cultural-sectioned neighborhoods, food, relationships, and clothing are prevalent all across the nation. There is a great need for diversity to be socially accepted. The fact is, is that diversity includes everyone, no one is alienated from being diverse; therefore, it is necessary for organizations to develop a platform for employers and employees to comprehend and acknowledge cultural differences through extensive training and collaboration, without jeopardizing the success of the organization. However, the challenge that most organizations face these days, is how to properly implement the inclusion of diversity in a global market, while promoting cultural awareness in the workplace.
innovation, growth, intervention). Positive business outcomes from increasing diversity may depend on whether the firm emphasizes an innovation strategy or values retention of top talent. Organizations that value diversity possess organizational flexibility due to the presence of diverse thinking, greater ability to draw and retain the best talent. Apart from affirmative action, a successful diversity strategy must create a work environment that cultivates teamwork, participation, and cohesiveness. These could only be possible with a pro-active approach, long-term commitment of leadership and resources. In general, diversity can be an asset or a liability depending on company’s strategy toward managing
The employees of this organization come from all over the United States and all over the world. These employees also work with clients who come from and/or are located all over the globe. Therefore, it is two-fold as to why the employees require cross-cultural training and why the program was created. The organization is seeking cross-cultural awareness training because of the following reasons: the company is growing globally, the staff is working with others in other countries, the staff itself is culturally diverse and the company is actively seeking multinational growth and projects. Just as AT&T 's diversity and inclusion strategy is built to alsin with the business goals and priorites of the business. Portefield Learning and Developemnt may not be as big as AT&T, but the organization works effortlessly in the areas of “workforce inclusion, community impact, multicultural marketing and supplier diversity” according to the Diversity and Inclusion 2015 Report. The company has implemented cutural groups in various business areas: twelve Employee Resource Groups and nine Employee Networks with 122,000 combined