What are the advantages that managing a diverse workforce present?
What will be an ideal response?
Managing a diverse workforce presents many advantages:
• Attract and retain motivated employees-Companies with a reputation for providing opportunities for diverse employees have an advantage in the labor market. When employees believe their differences are not merely tolerated but valued, they may become more loyal, productive, and committed.
• Understand diverse markets-Just as people may prefer diverse workplaces, they may prefer to do business with such organizations. A diverse workforce provides greater knowledge of diverse markets and can design products and marketing campaigns to meet consumers' needs, locally, nationally and internationally.
• Leverage creativity and innovation in problem solving-With a broader base of experience from which to approach problems, diverse teams, when effectively managed, invent more options and create more solutions than homogeneous groups do. They deviate from traditional approaches and practices and are less likely to succumb to "groupthink."
• Enhance flexibility-Successfully managing diversity requires a corporate culture that tolerates many different styles and approaches. Less restrictive policies and procedures and less standardized operating methods enable organizations to respond quickly.
You might also like to view...
Which of the following is not a source of cash?
a. Sale of equipment below book value at a loss b. Issuance of bonds payable below par value at a discount c. Collection of a long-term note receivable from a customer d. Declaration of a cash dividend to be paid in the next accounting period
On September 30, Waldon Co. has $540,250 of accounts receivable. Waldon uses the allowance method of accounting for bad debts and has an existing credit balance in the allowance for doubtful accounts of $13,750. 1. Prepare journal entries to record the following selected October transactions. The company uses the perpetual inventory system. a. Sold $305,000 of merchandise (that cost $178,500) to customers on credit.b. Received $395,100 cash in payment of accounts receivable.c. Wrote off $15,700 of uncollectible accounts receivable.d. In adjusting the accounts on October 31, its fiscal year-end, the company estimated that 4.0% of accounts receivable will be uncollectible.2. Show how Accounts Receivable and the Allowance for Doubtful Accounts appear on its October 31 balance sheet.
What will be an ideal response?
When someone in the currency market can buy a currency at a low price and sell it for a higher price, it is known as ________
A) arbitrage B) the bid-ask spread C) hedging D) interbank currency market
Which of the following is the typical order of sourcing capital abroad?
A) an international bond issue, then cross listing the outstanding issues on other exchanges, then an international bond issue in the target market B) an international bond issue in the target market, then cross listing the outstanding issues on other exchanges, then an international bond issue C) an international bond issue in less prestigious markets, then an international bond issue in the target market, and ultimately a eurobond issue D) cross listing the outstanding issues on other exchanges, then an international bond issue, then an international bond issue in the target market