Discuss How Managing Cultural Diversity Can Provide a Competitive Advantage

question 71

Essay

Discuss how managing cultural diversity can provide a competitive advantage to a firm.

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Definitions:

Fostering Change

The process of encouraging and facilitating adjustments in behaviors, processes, or structures within an organization to achieve improvement.

Union

An organized association of workers formed to protect and further their rights and interests; typically involved in labor negotiations and contracts.

Participation

The involvement of individuals or groups in decision-making processes that affect them.

Employment Flexibility

Refers to the adaptability of the workforce and employment conditions, allowing for changes in hours, location, and job duties.