What Are the Economic Costs of Not Appropriately Valuing Diversity?​

question 48

Essay

What are the economic costs of not appropriately valuing diversity?​

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Definitions:

Self-fulfilling Prophecies

Situations where an initially false expectation leads to its own confirmation because the expectation influences behavior to make it true.

Theory X

A management theory assuming that employees are inherently lazy and will avoid work if they can, thus needing to be closely supervised and controlled.

Theory Y

A management concept that assumes employees are intrinsically motivated, seek responsibility, and can be creative, suggesting a participative approach to management.

Behavioural Management

An approach to management that focuses on understanding and influencing employee behavior through motivational techniques, rewards, and training.