Differences also affect the reach to social resources, decision making, and performance potential due to lack of opportunities for a particular group. Power and authority also gets the impact from diversity issues in the workplace resulting in gaps in rewards that affect the outcomes.
Human resource management plays a strategic role in the success of a firm. There are a number of issues and situations that a human resource handles in day-to-day functions. Other than maintaining the ethical standards and concepts, a human resource manager is responsible to manage workplace diversity in the organization for the strategic benefit of the firm. Challenges of workplace diversity can be met by motivating workforce via gain-sharing and executive information system via planning, organizing, and managing the human resources.
Dimensions of workplace diversity relate but are not limited to age, ethnicity, ancestry, gender, physical abilities/qualities, race, sexual orientation, educational background, geographic location, income, marital status, military experience, religious beliefs, parental status, and work experience (Dr. Chan, 2010). In the book, Beyond Race and Gender, R. Roosevelt Thomas defines managing diversity as "a comprehensive managerial process for developing an environment that works for all employees" (Lindenberger & Stolz-Loike, 2010).
Workforce diversity impacts organizational outcomes. According to DiTomaso et al. (2007), interest in the concept of workforce diversity was a way to identify the sudden changes in social set up that impacted the organizations widely. Although these changes in society were not abrupt but the cultural and demographic diversity impacted the workplace environment greatly. The structural dealing among groups affects the results in the short and long term. The concept has been discussed much with regard to dissemination of service in the workgroups or organizations although sufficient research has ...
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Since there is no monitoring and control policy, Money Cares is exposed to the following risks. Business Risk Money Cares Investment Corporation is likely to face business risks as it would lose the competitive edge in the market due to the wastage of finances by their investment specialist.
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It is required at all levels of the organization. The study also discusses the importance of the research process suggested by Sekaran & Bougie for conducting any research work. It reflects that the step by step procedure mentioned by Sekaran & Bougie in the research process helps in increasing the reliability of the research.
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, a leader should focus on a number of best practices for the technique of negotiation, such as focusing on: a problem as opposed to an individual; long-term relationships and mutual satisfaction; considering the alternatives; emphasizing on the significance of a win-win