1 - Does diversity provide a competitive advantage to companies? 2 - What happen
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Question
1 - Does diversity provide a competitive advantage to companies?2 - What happens if there were no longer a “business case” for diversity? What if there were only a social/ moral case? Is promotion of diversity in the work place a good ideia in a workplace? 1 - Does diversity provide a competitive advantage to companies?
2 - What happens if there were no longer a “business case” for diversity? What if there were only a social/ moral case? Is promotion of diversity in the work place a good ideia in a workplace?
2 - What happens if there were no longer a “business case” for diversity? What if there were only a social/ moral case? Is promotion of diversity in the work place a good ideia in a workplace?
Explanation / Answer
1.Yes, diversity provides competitive advantage to companies. As a result of globalization, companies extent their services to international customers who differs in terms of culture, language, nationality etc. Diversity helps the companies to serve the customers across the world. Diversity also helps the companies to develop innovations by utilizing the ideas and opinions of people from different cultures. Decision making becomes more effective as there will be alternative solutions for the problems avoiding groupthink. All these factors help to provide competitive advantage to the companies.
2. If there were no longer a business case for diversity, it would affect the company’s growth and profit. A business case provides justification for the decision with the financial impact and helps to improve the economic performance. When business case is missing for the decision to promote diversity, the decision may not provide competitive advantage for the company. If there was only a moral case, the company will have to suffer loss as it is not practical to include people from all groups without any financial advantage. It will be difficult to sustain in the market by concentrating only on morality.
Promotion of diversity in workplace is a good idea in work place as it improves better interaction among the employees forgetting the cultural differences. It promotes the flow of information without any boundaries. The chances of stereotyping is less when there is diversity as the people starts understanding each other’s cultural values and the reason behind difference in behavior.
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