What Makes A Successful Business?

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).

This in turn can increase the creativity and innovation within organizations. As well, individuals from diverse backgrounds are able to provide companies with insight into foreign business practices, translation assistance, and offer detailed information to assist in market penetration. A diverse working team can also improve decision making by providing different perspectives on problems. Individuals embrace working alongside other cultures, as it is a personal learning process that will prove useful in the future.

As we enter the new millenium, diversity in the workforce is rapidly increasing. Businesses and organizations are living up to the great melting pot image the United States has always been popular for. Employees now reflect a diversity of cultural perspectives, ethnic backgrounds, ages, genders, physical abilities, and levels of education. This wave of multiculturalism is here to stay and cannot be ignored. It is in need of attention in order to uphold the well-being and success of businesses and organizations all over the country.

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

First off, the population of the world isn’t just one type of people therefore having a diverse work group will allow for business to be conducted with a wider segment of the population. Being able to provide a goods or a service to a wider segment of the population directly impacts sales and company profits especially when starting to cut out its own niche’ in a new market. Having a diverse group of people working for you translates into a larger customer base and a larger language ability as well as knowing customs and traditions of other groups of people. Repeat business will increase as ones customer base increases. Being a diverse company is simply good

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

It is not hard to figure out why diversity has become an important topic for the international arena. There are 196 countries in the world with about 196 different ideas they consider “traditional” or normal. Consider the US where it is a melting pot for many different cultures. The workers within any company can come from a diverse back ground just in the US, take that same business internationally and you have more diversity. Diversity is an advantage because with it comes different ideas and an effective work force.

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)

America's past should teach America's today that success lies within diversity. In order to achieve ultimate success, diversity is a necessity. Workforce diversity is a fact of organizational life. It is also a key concern for theory and practice in organizational behavior ( van-Knippenberg, De-Dreu, Homan, 2004).

With the changing demographics of the U.S. workforce (Ng & Burke, 2005) and the need for organizations to continually innovate their products and services to remain competitive, embracing diversity and the benefits its brings is going to be key to driving a successful organization

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.

I have chosen to do my research in small business. I want to know what it takes to build a successful business. What are the skills needed to start a new business? What are some of the steps to building a business model and plan? I am working on getting my degree in business. I am a general manager and will be soon help the company expand in opening two new stores in the next few months. This is something that is exciting to be able to expand the brand. This experience will help me when I am ready to own my own business. I know a small business is a big responsibility. As an owner, one has to dedicate lots of time and money to grow the brand and create customer loyalty. I know that simply being in love with an idea or product produced is not enough to survive in the business world. What are the key elements of a successful business? I want to learn more about creating a successful business plan and the logistics it takes to start a small business. I want to learn as much as possible about becoming an entrepreneur.

The workplace has become one of the biggest multicultural settings. Almost half of the work force in the United States is made up of minorities. There are many advantages to having this percentage of people from different cultures throughout our workplace. One is the increase in creativeness. Not only in products that are being created but in the developing of an approach to solving problems. "Other cultures can offer insightful alternatives" (EthoConnect). Another way in which the workplace is affected by this is in productivity and attitudes. When people of all cultures pull together to reach a common goal there are less limited boundaries and there are more global understanding that are used to help reach the world's market place; creating a larger market for products. With this change in productivity in the workplace is more desirable and enjoyable for all employees. The market place has become more global based that workers having a diverse culture base is very important to break down barriers in language and knowledge of certain markets. This affects our lives by more companies hiring more international job seekers.

Many opportunities are associated with a culturally diverse workplace and global expansion may have potential to provide just such a diverse work group. Cross-culturalism in business can provide leaders and employees with a wonderful opportunity to work with people from different backgrounds and cultures. In addition, “the more opportunities for business leaders to interact with people from different cultures, the more likely they will be to have positive attitudes from different cultures and identify, learn and apply diverse culturally-appropriate business behaviors” (Caligiuri & Tarique, 2012, p. 614). Culturally diverse environments offer a multitude of benefits including “the variety of perspectives, skills and personal attributes” (Matveeve & Nelson, 2004, p. 254). Moreover, multicultural teams have potential to “generate more ideas of higher quality in brainstorming tasks” (Matveeve &