Sunday, August 26, 2007

Study shows that diversity impacts a company's success

by Joseph Wardy, Jacquie Schmall, Sheeja Saji, and Joyce Priddy

Sociologist Cedric Henning, of the University of Illinois at Chicago, recently conducted a study about diversity. Beyond the question that diversity is positive, Mr.Henning wanted evidence that it made a difference. Conclusion: Diversity makes a difference and the study shows impact on company's success.

Let's begin by reviewing how Mr. Henning conducted his research. He began by obtaining data about diversity levels and business performance from about 250 companies. Verification was secured from Dun& Bradstreet and the federal government. The companies ranged from 10 employees to multinational corporations with thousands of employees.Fact: Regardless of the size of the company, Henning found the same relationship between diversity and business success.Here are two of Henning's findings:

* Diversity supporters have long claimed that workers from different backgrounds more responsive to customers. Mr. Henning's research supports this position. Mr. Henning states " that racial diversity is a marker for diverse ideas, attitudes and experiences and that having a range of perspectives can alert a company to threats and possibilities.When diverse ideas are shared and not dismissed, the environment changes form the ego of I'm right to the collaboration of what's right. The study also suggests that diversity in the workplace connects closely to Listening, one of the Seven Habits of Effective People by Stephan Covey. Mr. Covey stated, " To be understood, we first understand". If you doubt the wisdom of Mr. Covey's suggestion,reverse the scenario.If an employee seeks first to be understood, he tends to argue and defensively defend his position. An adversary can become a possible enemy.

* When people of color join groups that were formally all white, the entire group begins to think in different ways. The influx of minorities stimulates new thinking patterns. This finding lends credence to the quote: " We find comfort with those we agree with and growth from those who are different". Another great benefit is that diverse ideas minimizes " group think" which favor a status quo mentality. Refusal to change in a competitive market is not competitive.

In my management development work, I have always contended that building relationships an awareness and appreciation of different perspectives. Most importantly, we begin to realize that perspective stems from our individual experiences. Perhaps, the great benefit to diversity in the workplace is that the interdependence of the group results in better solutions!

Diversity brings an eclectic array of talents and points of view to any project, giving it greater potential, making it stronger. This has been shown to be the case in business, and it's also the case in show business.

When people of very different ages come together to make a film, or put on a live show, there is an incredible force that comes into focus as we work together. The experiences of the older members of the group give validity to ideas that have worked before. The younger members of the group catch the direction of those ideas and carry them to fit into yet another incarnation that will entertain a younger audience.

In addition to being savvy about the contemporary audience, the younger members of the group have more muscle to manifest the physical part of the project. Meanwhile the older members will have more savvy about brands of paint or sources of special materials.

In the beginning, age difference is clearly a factor in finding who's going to lead what, however, it doesn't take long to sort out. It's fantastic we all get to see the final product become a successful production.

In my experience, seeking to engage diversity in any project, whether social, ethnic, or age related, will definitely invigorate the creative and/or business process.

Strategy, Product and People -These are the key factors of a successful company.Talking about people, diversity absolutely impacts a company's success without a doubt. Putting together people from different country and background ,and combining their ideas and bringing out the best of unity lead whole sector to success.

People think and act depending upon on the background they are brought up. A team who have well knowledge of all levels of people and their mentality is very important here. Lifestyle of people from different countries are very much different or if to say lifestyle of people form different areas of same country vary so as their ideas.

Best example is Donald Trump's" The apprentice" (I hope most of us watched it at least few episodes)

So it's very much true that diversity impacts a company's success.

Diversity is one of the key factors that will enable a company to truly be successful. Without diversity within a company there will not be success. After all, if we were all clones the world would become stagnant and boring.

Diversity encourages more thought processes in the company. With emerging ideas and suggestions, a company's success will become larger. Employees will work harder because they know that their opinion counts.

Through diversity, delegation of tasks is much easier within a company. Delegation of tasks and project assignments is imperative to a company's success. If everyone only knew how to do one task the company would fail. Additionally, if everyone approached tasks the same way, it will cause failure in the company.

Source: Helium

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