We’ve looked at the challenges that Indian companies face because of diversity, both at the workplace and the marketplace. We’ve also seen the ways companies can use, to not only manage existing diversity but also to promote it and gain a competitive advantage in the market. Probably, the most important aspect that comes out from the study is that diversity is finally all about human beings, and how they differ from each other.
Any company that understands its key stakeholders well – its employees, its shareholders, its partners and most importantly, its customers, can thrive in the most diverse of environments. “The next time some academics tell you how important diversity is, ask how many Republicans there are in their sociology department” – Thomas Sowell INTRODUCTION: Diversity in the context of an Indian Business Organization The objective of this article is twofold.
Firstly it tries to identify the various elements of diversity, as it exists in a modern Indian Business corporation. Secondly it looks at the methods that the companies can employ, not only to understand and cope with the diversity but also to leverage it towards building wholesome business relationships. Diversity in many ways is closely connected to another term that we see commonly used today, which is ‘Change’. Managing diversity is an essential part of change management.
If Indian companies have to thrive in today’s changing global marketplace, it has to learn to manage diversity, both within the company and without. Managing Workforce Diversity Diversity is defined as the personification of various cultures within a social or business environment. The fundamental principles of any culture include their value systems, beliefs, habits, and lifestyle. The varied inclusions consist of individuals from different ethnic backgrounds, cultures, and religious beliefs; without regard to their gender, age, or lifestyle.
Diversity includes dimensions that expand the criteria outlines in the U. S. Government equal opportunity and affirmative action mandates (Anonymous, 2005). Diversity in the workplace has become the number one targeted objective in organizations globally. Effectively managing diversity in areas such as religion, culture, stress, age, gender, race, and sexual orientation is the key to achieving global success in the workplace.