DiversityMulticulturalism.ppt

Diversity Multiculturalism Strategies for Changing Workplace Pluralism Lecture 5 Lecture 5: Lecture 5: Lecture 5: Lecture 5: “The question is this: Is there a black, a Hispanic, or a woman in your company who, if all things are equal, can expect to become chairman within the next ten years?”Reverend Jesse Jackson Sr., Fortune Magazine Key Issues Regarding Multiculturalism… How do changing work patterns and worker mobility drive strategic renewal? Which differentiating and sustained competitive advantages are created by multicultural workforces and organizations? What new and different management challenges are presented by multiculturalism? What are the new and/or emerging work patterns and individual choices that are driving change and strategic renewal? How do changing work patterns and demographics neutralize the traditional sources of competitive advantage and strategy formulation? Changes in the Workplace… Understanding Multiculturalism Diversity… There some major challenges to understanding these concepts: Distinction between diversity and multiculturalism Leading multiculturalism for competitive advantage Factors driving and changing work lives, styles, employment patterns Strategic impact of multicultural workforces and related issues/aspects Defining Multiculturalism and Diversity… There are definitional and operational differences between diversity and multiculturalism: Comparing Diversity and Multiculturalism… Strategic Implications of Multiculturalism… Multiculturalism creates segments and micro-markets, which represent sources of talent. Companies must constantly search these segments for talent. Multiculturalism leads to more creative and innovative breakthroughs. Multiculturalism enhances critical thinking. Multiculturalism at Work… The Diversity Elite (50 companies) outperformed the SP 500 on a continuous basis (as of 1997). They averaged returns of 125.4 percent versus 112.2 percent, and 200.8 percent versus 174.2 percent for the