The world is changing. And so are the markets at home and aboard. The global market is becoming smaller but more competitive.
And these days there seems to be very little argument against Diversity being an important part of any organization to remain successful in the changing global business climate.
It is predicted that by 2016 China should overtake the USA to have the largest economy in the world. And India is also becoming a powerful nation. India is now where China was almost two decades ago.
Practically every business requires new techniques to take full advantage of the opportunities, whether they are operating domestically or worldwide.
When it comes to any business decisions and strategies, diversity is one of the critical elements that must be kept at the forefront. At the end of the day, an organization’s diversity policy affects its revenue.The main question a company needs to ask itself on a regular basis is, “how is diversity or the lack thereof, affecting our productivity and profitability?”
It seems for many people, diversity is something that is taken for granted. Take a good look around you – stores, cafes and neighborhoods are filled with people from all cultural backgrounds and racial diversity in major cities.
But is it the same in the workplace?
Certain companies have diversity policies that are nothing more than window dressing. They are not fully embracing diversity and all of the benefits a diverse workforce provides.These days diverse staff brings different ideas, different thinking and different solutions. In some ways they are the ambassadors to the ethnic markets at home and abroad.
Business owners must wake up to the fact that for them to survive and thrive in the immediate future they must view cultural diversity as an opportunity and not as a hindrance. Adaptability is vital to the changing and competitive global markets.