The article I decided to write my first blog about is entitled “Does Pay?: Race, Gender, and the Business Case for Diversity” by Herring Cedric. Cedric argues that a diverse workforce, relative to a homogenous one, is generally beneficial for business, including but not limited to corporate profits and earnings. He goes on to show how results from a National Organizations Survey support his hypothesis that racial diversity is associated with increased sales revenue, more customers, great market share, and greater relative profits and gender diversity is associated with increased sales revenue, more customers and greater relative profits. I found this article to be very interesting because when we discussed chapter two of the text (Managing Demographic and Cultural Diversity) we talked about these same topics. When companies manage diversity correctly that can see great results because it gives them a completive advantage over other companies. Cedric also have graphs and tables showing the correlation between different levels racial and gender diversity and company benefits. I will provide a link to this article and the tables. The question I pose to you is how can companies who aren’t diverse implement diversity within their companies? And how do homogenous companies manage to be successful if they don’t implement diversity within their companies? (EX: Hooters only hire women)Diversity
LINK: (http://ehis.ebscohost.com/eds/detail?hid=121&sid=ce5decec-c948-4e3a-858d-364d4180c2f0%40sessionmgr104&vid=4&bdata=JnNpdGU9ZWRzLWxpdmUmc2NvcGU9c2l0ZQ%3d%3d#db=sih&AN=37353174)
This article is a great demonstration of why diversity is a positive factor to include in the workplace. Companies are able to relate their goods and services to a greater target market because a broader range of ethnic and racial backgrounds are represented within the company.
ReplyDeleteI believe companies will continue to encourage diversity in their workplace to not only increase productivity, efficiency, and success, but also to increase public awareness of their goods and services.
By creating a diverse workplace, companies are more likely to include a wide variety of perspectives in organization behavior and decision making.
I agree with what you said about creating a diverse workplace leading to a wide variety of perspectives and this can make or break a company depending on their overall mission. If companies are looking for new and innovative ideas then this is the way to go!
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