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Learning Goal: I’m working on a management question and need an explanation and

by | Aug 31, 2022 | Management | 0 comments

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Learning Goal: I’m working on a management question and need an explanation and answer to help me learn.
Provide reasoning as to why diversity is important to maintain profitability.
Discussion Instructions (Initial Post is Require before “Viewing” Peer Posts): You are required to submit a substantial response. A substantial response is one that stays on topic and fully addresses the assignment in a clear, concise, and meaningful manner. Substantial Content refers to providing relevant content toward the actual topic of the discussions. This includes quality input, questions and information in your discussion posts and responses to peers.
The deliverable length of initial posting must be at least 150 words. After the initial posting, students are required to respond to at least two (2) peers responses. Peer responses must be at least 50 words for each response, in order to receive full credit. Discussions must be the students original thoughts based on the topics from the “Open Educational Resource” (OER) Course Textbook and/or other referenced sources. Direct quotes from references must be less than 10 words. Please review postings for sentence structure, grammar and punctuation errors.
Plagiarized discussions will result in a “0” for the submission of this assignment.
Late submissions are not accepted for discussions.
All assignment(s) derive from the OER Textbook. For academic purposes, at least 1 APA formatted reference is required pertaining to the topic(s).
THEN I NEED HELP TO ANSWER TWO PEERS.
PEER 1) Diversity is essential for any organization. Not only it’s required by law it has also been proven to help organizations attain greater profitability. In 2006 a study was done named Does Diversity pay? Cedric Herring proved that sales were higher, customers were more loyal, larger market shares, and the workplace was more consistent with diversity. People feel more connected, and their needs are being met when they are in a diverse environment. A company gets more perspectives, creativity, innovations, and engagement when the workplace has different people with different backgrounds. It’s also important to have diversity in problem-solving because you get different approaches and perspectives when solving that issue. The company also gets a better reputation, and less turnaround when employees feel like their backgrounds are being celebrated and respected. Customers can also see this as a positive and want to spend their money on businesses that have a positive, more substantial reputation.
PEER 2) There are many benefits in an organization maintaining diversity and multiculturalism throughout their environment. Organizations that exercise diversity in their work environment and multiculturalism understanding can obtain significant increases in their profitability. A study by Cedric Herring states that organizations that have greater racial diversity reports significant increases in sales revenue, larger market share, greater relative profits, and more customers than those with more of a homogeneous workforce. An organization with a homogeneous workforce will often attract a customer basis of that particular genus where as a diverse and multicultural workforce increases it’s customer basis to those diverse aspects as well.
Another study shows that an organization with low equal opportunity aspects gained 7.9% profit, whereas a company that was rated the highest on their equal opportunity aspects gained an 18.3 percent profit. Despite what some may believe even in my current workforce, diversity and multicultural awareness is not a fad. This state of mind is here to stay it is the way to conduct proper business that better serves customers.

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