Project Research Continued Assignment Description
TOPIC: Diversity in a Globalized Economy
I have uploaded a guide to help with finding more different research and information. Again, It’s only a guide to help, that paper has been submitted already.
Submit an update to the capstone project identifying: a) areas that required additional research, and b) continue developing the report to reflect current research, data analysis, interviews, and progress toward recommendations. Make sure to maintain a good line of communication with your instructor at every phase of the project.
Length: 1000 words
Structure: Include a title page and reference page in APA style. These do not count towards the minimal word amount for this assignment.
References: Use the appropriate APA style in-text citations and references for all resources utilized to answer the questions. Include at least three (3) scholarly sources to support your claims.
Format: Save your assignment as a Microsoft Word document (.doc or .docx).
Running Head: DIVERSITY 1
Diversity management basically is used in referring to organizational practices as well as policies that are aimed at retaining, managing in addition to recruiting employees from backgrounds that are diverse as well as the identities, during the creation of a culture whereby each individual is enabled equally to perform as well as achieve personal in addition to organizational objectives. In a world that is globalized, there is the essence of having a transnational as well as contextual approaches in order to use the benefits that are associated with global diversity in addition to the challenges that institutions might end up encountering during the process of managing a workforce that is diverse. Diversity in a workforce is basically a core concern for many of the enterprises. The current institutions are supposed to understand as well as effectively direct the diversity of a workforce (Gulak-Lipka, 2020).
The management of diversity refers to the actions of an organization with the intention of enhancing inclusion that is greater of workers from backgrounds that are different into the structure of an organization via particular programs as well as policies. Organizations presently are making adaptations, to the strategies of diversity management in order to respond to the developing workforce diversity globally. Presently, institutions are supposed to take actions that are positive, beyond the compliance that is legal into ensuring equal employment, promotion alongside access opportunities. In addition to ensuring that the programs for diversity utilize the differences of employees as well as contribute to global plus the local communities. The capability of conducting international business is a necessity that is absolute in order for an organization to stay competitive within the current marketplace. Globalization has played a role in business as well as financial markets stabilization within a manner that is dramatic that most industrialists are yet to understand the breadth in addition to depth regarding the effect it has the reduction of economic, financial as well as political volatility.
A management diversity of a new era is something that is left to the us individuals. This is because globalization has led to transformation of economics, politics and society influencing to a great extent demographics in a workplace. A workforce that is diverse on its own is not an equation of a successful management program of global diversity. The initiatives in addition to inclusion programs known for bringing an awareness sense that is heightened and sensitivity to variations in most times offers the workers with devices meant to overcome possible challenges that are linked with global diverse teams (Tamunomiebi and John-Eke, 2020).
These particular challenges might be present from one country to another or within cultural sub-groups of a particular country. However, with the appropriate diversity mix and practices of inclusion, the teams that are successful mostly end up avoiding group think that is capable of plaguing the ones that are homogeneous. Through a mission that is shared as well as common values set, the teams that are diverse might end up developing advanced ideas that are more robust and processes depending on different perceptions. In addition, with innovation levels that are enhanced in addition to a capability of attracting talent that is top level, the diversity that is global is an edge that is competitive.
Programs of diversity at a place of work
The diversity programs are known for having an impact that is positive on the motivation of employees as well as client satisfaction for over 50% of the organizations that already have been implemented by them, there is a notable improvement within brand image for around 69% of the organizations that have been researched by the European Commission. Additionally, the fortune 500 institutions that had three women or more on their director’s board happened to have advanced financial performances as compared to the ones having either two women or fewer as per the Catalyst 2007 study. The technology advancements now enable organizations to hire as well as manage employees from all over the globe as well as within varying time zones. Organizations currently are designing particular policies as well as programs into enhancing employee promotion in addition to inclusion, and employee’s retention who come from varying cultures and backgrounds. The policies as well as programs tend to be designed in a manner that they create an environment that is welcoming for the groups that have not been able to access employment as well as jobs that are more lucrative previously.
Automatically, a perspective that is global within inclusion as well as diversity management is considered to be an imperative that is economic. According to the reporting of U.N., the job opportunities that are restricted for the women end up costing the pacific and Asia countries in between US billion $42 up to billion $46 within GDP growth each year, enterprise impact is considered to be a reality.
There are two forms of the diversity management which are:
International diversity management which basically refers to the managing of a workforce kinky comprising of immigrants or citizens within a national single context. The programs for diversity have their focus on offering opportunities for employment to the recent immigrants or the minority groups. For instance, a French institution might implement programs as well as policies with the intention of enhancing sensitivity as well as offering minority to the ethnic groups that are minority within the State.
The second one is the diversity management that is cross-national this can also be said to be international which involves the management of a workforce that is made up of citizens from countries that are different. It might also include immigrants coming from various countries seeking for employment. For instance, a company that is based in the U.S having branches within Korea, China, and Canada will be required to establish programs for diversity plus policies that are applicable to the headquarters in the U.S and the offices in overseas. The core challenge that is associated with this management is that the parent organization is supposed to put into consideration the cultural and legislative laws within the different host States it has its operations in (Zaman, et.al, 2021).
In order to ensure there is no enterprise consequences of a diverse workforce that is inappropriately managed, there should be focus on efforts that are inclusive in an organization. For the transformation of a business environment, practices of inclusion are supposed to be embedded into the bottom line of an organization as well as across its culture. They should have an agreement on a diversity definition that is common resonating within and out of the cultural frame of the country of reference. When organizational culture shifts from one of an identity that is defined narrowly to one that is inclusive culturally, then a successful as well as a sustainable global diversity model tends to be achieved.
Gulak-Lipka, P. (2020). Internationalization and managing diversity on the basis of professional basketball clubs. Journal of Physical Education & Sport, 20(6).
Tamunomiebi, M. D., & John-Eke, E. C. (2020). Workplace Diversity: Emerging Issues in Contemporary. International Journal of Academic Research in Business and Social Sciences, 10(2).
Zaman, U., Nawaz, S., Anjam, M., Anwar, R. S., & Siddique, M. S. (2021). Human resource diversity management (HRDM) practices as a coping mechanism for xenophobia at transnational workplace: a case of a multi-billion-dollar economic corridor. Cogent Business & Management, 8(1), 1883828.