Help me answer this question about bisiness management and leadership?
November 13, 2009 by Leadership Development & Management Tips
Filed under More Leadership Development Answers
Can you answer algebradunce’s question about Leadership Development?:
How does diversity make a company stronger or does it?
Business Negotiation Training
How does diversity make a company stronger or does it?
Business Negotiation Training
Leadership Development Feedback: Diversity means that you are selling a number of different things in the business which can be usefull if part of the business isn’t selling well and the other part is, it can help keep your Business in good shape.
An example of a diverse Business would be Walmart/Asda who sell Food, clothes and electricals. Three different parts to the same business, Diverse !.
An example of a non diverse seller would be an Ice Cream seller who’s business can be badly affected by the ‘weather’.
I hope this helps you out.lol.
Leadership Development Feedback: learn to spell business correctly then i’ll help you.
Leadership Development Feedback: It actually depends on what you mean by diversity. If you mean racial and religious diversity, what really matters is if your company can attract the best talent at the lowest cost possible. Diversity doesn’t necessarily help a company, but it sure can hurt a company if they discriminate, it means that they’re not getting the best talent and they can be sued. If you mean diversity as in products and services, yes, diversification of business line can help. But it’s tricky. True success in business means serving your target market above and beyond their expectations. Getting to really understand a market is tough. So diversification is a bit trickier than it sounds.
Leadership Development Feedback: Diversity for the sake of diversity will not benefit a company. It benefits the company in several ways. Let me try to enumerate a few
a. Talent is not restricted to a particular type of people. By broadening the pool of people from which to draw talent, company will reduce hiring cost. It will also increase the chances of hiring bright people.
b. By making employees diversity aware, the company will have less friction.
c. By allowing diverse people to reach the top, the company will avoid ‘old boy network’ which might form if the top people come from a small circle. Such a network often causes more harm to the company.
d. By seeing diverse people at all levels of company level community will be more accepting of company as a progressive company. That helps with goodwill.
e. It is the law not to discriminate. So if a company tends to look non-diverse, it attracts attention of federal agencies who are policing the non-discrimination law. They might question the company’s policies. If you don’t discriminate, then naturally your company will be diverse and hence this distraction can be avoided.
Rahul