Influence Of Top Management Team Diversity On Performance And Corporate Strategies

Diversity is a wonderful asset to an organization and brings with it many benefits. Employees bring in their own personal experiences and knowledge to the team (Burns & Kerby, 2012). Having diverse teams allows for the possibility to fix a problem or perfect a process by using different employee’s experiences and past knowledge to find solutions. A diverse workforce can drive economic growth and capture a greater share of the consumer market (Burns & Kerby, 2012). With diversity as a core value, the recruitment pool is widened to find the most qualified candidate and reduces employee turnover as a result. An organization can be highly competitive with a diversity initiative by adapting to a changing environment (Burns & Kerby, 2012).

The way in which an organization tackles diversity determines its negative or positive outcome. All the 5 companies agreed that diversity has contributed to their success. Some barriers were identified in managing diversity like the difficulties faced by women in managing the work and family, fear of discrimination, resistance to change, diversity is not seen as an organizational priority, resistance to change and unsupportive working environment for diverse employees. Diversity contributes to more productivity but if not properly managed could hinder success.

Diversity in the organization can affect the employees and their behavior in many ways. The effect can be positive and negative in the same time. The positive effect is, it will wider employee knowledge, skills, and attitude which will allow the organization to become more competitive globally. Higher diversity of employees mean higher diversity of knowledge, skills and abilities. Sharing experience inspires innovative thinking (Claudia Quaiser-Pohls, 2013, p. 41). Today in the modern workplace, most organizations will have

Diversity is of the utmost importance to an organization, as it increases the organization’s ability to adapt to the ever changing environment of the modern world. Today, diversity is a requirement for success and long term growth. Diverse companies have a comprehensive understanding of their customer’s needs and better internal talent due to a more extensive search of the labor market for qualified candidates. Moreover, diverse perspectives lead to innovation, and innovation leads to prosperity. Inclusion of unique perspectives avoids barriers and anxieties that would otherwise stunt a company’s growth. Furthermore, Studies show that companies with diverse board members tend to have greater success than

Today’s an age of competition. Every organization finds ways to be successful. The success of an organization lies in making profits and building brand image. The search by various scholars has found that a diverse workplace, if managed properly, can do wonders for the success of an organization. Diversity means differences due to race, gender, ethnic groups, age, personality, tenure, organizational function, educational background, etc. Diversity involves how people perceive themselves and how they perceive others. These perceptions affect their interactions.

Nowadays, diversity is not just defined differently by culture, race, and religion and so on, but is becoming a more and more important factor to most companies, due to the advantages it could bring. I think the success and competitiveness of an organization depends on its capacity to involve diversity and be aware of its importance and superiority. A diversity workforce is able to offer a better variety of solutions for problems, and employees from diverse backgrounds bring their individual experiences and talents in advising thoughts, so company can satisfy the demand of customers more effectively. And in my opinion, creativity and innovation now are the two keys for

The case study was called When Increase Diversity Improves Team Performance. There were a lot of planning in the case study that was used to improve the quality of workers at Bridgestone Health System. The society is growing into a more diverse population, where everyone is becoming more accepted no matter what socioeconomic status or culture background one is from. I believe bringing on an experienced black man was a good way to expand opportunity for diversity. Black men already sit at the bottom of the pool when it comes to being hired for quality jobs. The scenario in the case study is what I believe happens quite frequently in the workforce. I do believe a lot of times diversity is swept under the rug or unpublicized. I was not surprised

Diversity management focuses on the heterogeneity inside the organizations. Diversity management was a response to the common situation when companies started to hire employees of various age, nationality, race, religion etc. It is based on the principle that the differences between people do not have to prevent them from working together.

A.G. Lafley, P&G’s Chairman of the Board, once said "A diverse organization will out-think and out-perform a homogeneous organization every single time". (Allen, Munn, & Neck, n.d.) However, the concept of diversity management is a relatively new idea in corporate America. The scope of the work, as well as the measure of results are not quite a hard and fast set of rules and predictable outcomes as other aspects of business management can be. While new research is emerging that will give a clearer picture of what aspects to focus on to produce the desired outcomes, there are currently a few initiatives that are believed to be most effective.

In the changing business environment nowadays, organizations need to differentiate themselves to gain competitive advantages to survive. One of the most important advantages is workforce diversity. Because “A well performing team will create additional value to a company by combining individuals’ strengths and take advantage of synergies that may exist, thereby making the whole greater than the sum of its parts.” (Holtzman p.75). Hence, the requirement of workforce diversity, especially heterogeneity is a must in the twenty first century. The benefits of heterogeneity are unparalleled. With a combination of a diverse set of skills, talents and experiences, a heterogeneity team can offer multiple viewpoints and ideas, leading to innovative

Organizations have been becoming increasingly diverse in terms of gender, race, ethnicity, and nationality. This diversity brings substantial potential benefits such as better decision making, greater creativity and innovation, and more successful marketing to different types of customers. But, increasing cultural differences within a workforce also bring potential costs in higher turnovers, interpersonal conflicts, and communicational breakdowns. The utilities of diversity training and the essential managerial skills required for effectively managing diversity will also be discussed.

There are some advantages and Disadvantages that come with managing a diverse workforce of which management must be aware of to guide them in the decision making processes in the organization. They also reflect on the findings on the research conducted on the case companies.

(understand the importance of being honest, ethical and fair) and diversity (understand the importance of cultural diversity for company success). (Adidas Careers, 2015)

The hypothesis was whether a higher ownership concentration of a company is associated with a higher probability of having at least one woman on the management board. The author’s basic assumption of

The world’s increasing globalization requires more interaction among people from a wide variety of cultures, values and backgrounds. People no longer live and work in a one-dimensional marketplace- they are living in a highly complex and competitive environment that has growing demands of innovation in order to perform successfully amongst other industries. Business and organizations need to respond to this new diverse landscape, and the best corporations increasingly align with it. A strong diversity initiative and inclusion in an organization is crucial in remaining competitive in the current business world. Diversity is in the workplace is claimed to foster and spark creativity and innovation in employees. On the other hand, it is perceived to increase conflict and communication in an organization. Thus, in theory, diversity is allegedly advantageous to worker productivity, though counterproductive in work-group processes and dynamics. However, there is a lack of validity and reliability in the empirical research conducted to support this assumption.