Pros And Cons Of A Business Essay

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 purpose of this paper is designed to introduce, educate, and promote diversity within your company. Your company will be shown the merits of diversity and how diversity within your organization can be a benefit. This paper will be broken down into three main areas: Benefits of Diversity, Challenges of Diversity, and Recommendations for an effective diversity within your organization..

Making sure equality and diversity procedures are followed in a business environment will impacts on overall success of organisation. By recognising the strengths of differences between individuals company can get a great advantage in terms of employee motivation and clients satisfaction.

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 acknowledge that people are differ in many ways, such as age, gender, social status, disability, sexual orientation, religion, ethnicity and culture (Kossek, Lobel & Brown, 2005). Nowadays, diversity has increasingly become the most valuable aspect of HRM areas. Develop countries such as Australia and New Zealand hold multicultural workforce as one of the most important dimension of diversity, where there are a large number of international migrants with different cultural backgrounds (Shen, Chanda, D’Netto & Monga, 2009). Studies from McLeod, Lobel and Cox (1996) and Wilson & Iles (1999) point out that a diverse workforce has a better-quality solution to brainstorming task, display more cooperative behaviour, and can raise organizational efficiency, effectiveness and profitability. Hence, utilization of diversity allows organization to increase the organization cooperative behaviour and competitive advantage (Cassell 1996). However, in groups where people from different cultural and ethnic background are working together, differences may occur in management styles, attitude towards hierarchy, approaches to group work, and ways of expressing

Diversity is what makes people different, not just culturally but in human differences. Having a multitude of differences in the workforce gives an organization the ability to use many ideas to reach a common goal. A person could say that a diverse group of people together in one room can accomplish greater achievements than a room filled with the same types of individuals. Managers understand the concept of diversity, and how important diversity is to the success of a company’s ability to implement programs that continue to develop a harmonious and diverse workplace. The recognition that diversity is a reality in the workforce has generated an enormous amount of activity over the years among leaders in business, government, and civil

The general line of reasoning is that if we learn to incorporate each other’s diverse traits and characteristics in the workplace, we can then use these differences to foster an innovative environment, which will give the company a competitive advantage over the competitors that do not accept workforce diversity. According to the Allied Academies International Conference, “Diversity is rapidly becoming a common practice among companies due to the increasing number of minorities entering the job market today. As these groups become more prevalent throughout companies, upper-level employees are facing numerous challenges when determining what changes must take place to create a positive working environment for everyone. Management is responsible for the development and implementation of effective policies directly relating to diversity to ensure the acceptance of minorities into the workplace and to aid in minorities’ success through equal opportunities and treatment.” (Marcia L. James, 2001, Academy for Studies in International Business Proceedings)

The business case for diversity is often expressed in terms of managing diversity (Urwin et al. 2013). It is defined as managing the diversity in the workforce to reduce or eradicate the discrimination amongst the employees in the workplace. From the business case perspective, the main focus will usually be on equality practices, or diverse workforce that will possibly benefit the organisation. Thus, from the business case perspective, organisations will recruit and select

The first thing to acknowledge about diversity is that it can be difficult. In the U.S., where the dialogue of inclusion is relatively advanced, even the mention of the word “diversity” can lead to anxiety and conflict. Supreme Court justices disagree on the virtues of diversity and the means for achieving it. Corporations spend billions of dollars to attract and manage diversity both internally and externally, yet they still face discrimination lawsuits, and the leadership ranks of the business world remain predominantly white and male.

From our research, we identified three different perspectives on workforce diversity that people embrace, each with different implications for a work group’s ability to realize the benefits of its cultural diversity. We use these observations here to examine critically some of the themes and basic assumptions of previous research and to propose new directions for both researchers and practitioners interested in diversity (Ely &Thomas, 2001). When organizations have a diverse economy, it makes the company strong. Once our nation has embrace the changes from the demographics that reap the economic benefits of a diverse and inclusive workforce. Burns et al. (2012) stated in their investigation that:

Starting a business is the latest trend. Just take a look at Instagram. Several profiles have the caption ‘Entrepreneur’. At this very moment, there is someone, somewhere working on an idea, a business plan or launching a startup. Entrepreneurship is on the rise like never before. The flexibility and independence that comes with being one’s own boss is attractive and worth taking the leap in starting a business. However, most people don’t know that being an entrepreneur is a grueling journey that can be very lonely and stressful at times. According to the Small Business Administration (SBA), 50% of businesses fail during the first year. Starting a business can be a scary task, but the

Despite being an intimidating prospect for most people, there are millions of entrepreneurs in the US. Some of them turn out to be very successful, others, not so much. There are many steps to starting and running a business, but many of them can be easily accomplished simply by filling out some forms, and several small fees.

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.

The world's increasing globalization requires more interaction among people from diverse cultures, beliefs, and backgrounds than ever before. People no longer live and work in an insular marketplace; they are now part of a worldwide economy with competition coming from nearly every continent. For this reason, profit and non-profit organizations need diversity to become more creative and open to change. Maximizing and capitalizing on workplace diversity

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.