6-1 Harvard Business Review Simulation and Journal
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Feb 20, 2024
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6-1 Harvard Business Review Simulation and Journal
Southern New Hampshire University
In my evaluation of Central Ohio 740's performance in diversity and inclusion in hiring practices across generations and setting up a minor shareholder setup governance. To assess the
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company's performance, several factors need to be considered. This includes the company's commitment to diversity, implementation of inclusive policies, attracting a diverse pool of candidates, minimizing bias in the recruitment process, and ensuring equal consideration for all applicants. Additionally, efforts to include and empower minority shareholders in decision-
making processes should be evaluated. The effectiveness of these initiatives can be determined by analyzing the outcomes and assessing if they align with the goals of diversity and inclusion. It
is also important to consider any challenges or limitations faced by the company, such as the availability of diverse talent or legal constraints. A comprehensive assessment requires analyzing
the company's commitment, policies, recruitment practices, outcomes, and challenges faced.
Central Ohio 740's performance in diversity and inclusion in hiring practices across generations and setting up a minor shareholder setup governance leaves room for improvement. It would have been more impactful if the company had highlighted a stronger commitment to diversity and inclusion by integrating it into their mission statement and public statements. To truly embrace diversity, they should have implemented tangible measures like setting diversity targets, providing unconscious bias training, and ensuring diverse candidates are included in the interview process. Additionally, the company should have strived for equitable outcomes across generations and actively engaged minority shareholders by creating avenues for their participation. Evaluating the effectiveness of these initiatives and addressing any challenges or limitations encountered would have been highly advantageous. By taking these initiative-taking steps, Central Ohio 740 could have made significant strides towards establishing a truly diverse and inclusive workplace.
Central Ohio 740 allocated 5% of their annual profits towards charitable giving, demonstrating their commitment to social responsibility. Going public through an IPO could
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have positive effects by providing additional capital and resources for expansion, potentially resulting in higher profits and more funds for charitable initiatives. However, it could also introduce new stakeholders with different priorities, potentially diverting resources away from charitable giving. The decisions made in the simulation could have influenced these initiatives, either reducing or increasing the amount allocated for charitable giving based on prioritizing short-term profitability or social responsibility. Balancing the interests of different stakeholders while maintaining social responsibility is crucial for the company's long-term success and positive impact. There are numerous exciting ways for a company to enhance its CSR programs and increase its involvement. Rather than just sticking to traditional methods of charitable giving, the company should explore more diverse avenues, such as implementing volunteering programs and forming partnerships with local nonprofits. It is crucial for the company to establish clear and concise CSR goals and objectives that align with its core values and mission. To foster a sense of ownership and commitment, involving employees in decision-making processes and organizing volunteering opportunities is of utmost importance. Moreover, to ensure transparency and credibility, it is essential to measure and report the impact of CSR initiatives. Collaborating with stakeholders, including government agencies and NGOs, can significantly enhance the effectiveness of these efforts. By integrating CSR into the overall business strategy, the company not only ensures long-term sustainability but also fosters a culture
of responsibility. Striving for a balance between profitability and social responsibility is the key to achieving long-term success and creating a positive impact.
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6-1 Harvard Business Review Simulation and Journal
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Harvard Business School Publishing. (2023). Harvard University. Simulation Family Business Simulation: Honey Heritage. https://services.hbsp.harvard.edu/lti/links/7130-HTM-ENG