MAXIMIZATION OF A DIVERSE BUSINESS BY THE MEANS OF RECOGNIZING, MANAGING, AND PRACTICING DIVERSITY.
Racial and Ethnic Composition, 1999 to 2050.
Familiarization with the problem.
Since the U.S. has become more diverse over time, it is necessary to have a diverse workforce. Diversity in the workforce is becoming increasingly common, and managing this trend represents a unique leadership challenge (Mayo, 2002). Global HR magazine says, "A diverse workforce.is the best way to expand into new markets and stimulate new business ideas, as well as improve customer relations" (Mayo, 2002). Pat Harris, chief diversity officer for McDonald's Corporation comments, "By 2005, minorities will comprise 30 percent of American consumers and 34 percent of the American workforce" (Business, 2002).
As diversity in the workforce continues to increase, business leaders need to focus on three main factors in order to maximize diversity in their company. These factors are to recognize all changing trends of workforce diversity; manage your business under a diverse environment; and have all employees practice diverse ethics. Businesses must strictly maintain these factors to keep their business diversity effective.
The purpose of this report is to discuss maximization of a diverse business by the means of recognizing, managing, and practicing diversity.
Discloser of Resources.
Secondary resources were used in writing this report and included eight articles. The articles used were the result of several searches using the LCC.NET Internet service provider. A complete bibliography of the sources is included in the appendix.
The following words are defined as they are used in this report.
1. Workforce Diversity - having a wide variety of workers with difference in age, race, gender, disability, ethnicity, and/or religion working together.
2. Maximize - to increase or make as great as possible.