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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,
W., 2009, p. 8). From Exhibit 7, I chose to discuss the strategic focus of “Enhance our diverse, high-performance culture and workforce.” For the diversity implication from Exhibit 7 that relates to this focus is to “Enhance workforce capabilities to address the needs of our multicultural / multilingual constituents.” A high - performance culture and workforce is impacted by the workforces, abilities to deal with multicultural / multilingual elements. Possessing the ability to fulfill the needs of a diverse workforce is paramount. Ideas from a diverse cultural workforce better enables the company to meet the needs of consumers of diverse cultures. Criteria for meeting the needs of a diverse workforce will consist of strong leadership, effective communication, ability to meet diverse demands, providing education and training, changing employee procedures to meet company goals, and evaluating the diversity of the management programs.
Diversity in the retail marketplace is something that is significant to the company’s success. Retailers are comprised of people selling things to people. Thus, the people that do the selling must be a good representation of the people that are doing the buying. Companies that are well diversified in their hiring practices, as well as organizational goals, are well recognized by the public. Likewise, companies that are unjust in the functioning of their company will be viewed in a negative light, which could lead to decreased sales and company accountability. Taking this into consideration, observing the diversity profiles for two major retail companies can lead to a firm understanding behind their success and company values.
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.
When aligned with Organizational Objectives, diversity can be a powerful contributor to the organizations competitive advantage.” (Best practices page 9)
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.
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
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.
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.
The purpose of this research is to provide a substantial assessment/explanation/analysis of the degree to which the McDonald’s operates based on a universal cultural or whether it is most strongly influenced by the national culture of that country. The researcher will explain how McDonald’s uses diversity and organizational initiatives to contribute to the corporate bottom line. Finally, the researcher will evaluate the company’s bottom-line rationale for diversity initiatives.
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
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.
With the same spirited investment as the world's premier marketer and beverage industry leader for more than 118 years, Coca-Cola are focused on strategic workplace programs that help assure the success of our commitment to embracing the similarities and differences of people, cultures and ideas. Diversity Advisory Council - the Company’s corporate Diversity Advisory Council consists of a representative group of employees from all levels, functions and business units of the organization. The Council develops recommendations for senior management on advancing the company's efforts towards achieving our diversity objectives. Employee Forums – Coca-Cola believe that a sense of community enhances their ability to attract, retain, and develop diverse talent and ideas as a source of competitive business advantage In the United States, through employee forums, employees can connect with colleagues who share similar interests and backgrounds. In those forums and elsewhere, employees support each other's personal and professional growth and enhance their individual and collective ability to contribute to the company.
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
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
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.
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