Managing Diversity Well Can Give a Company a Competitive Advantage

question 17

Multiple Choice

Managing diversity well can give a company a competitive advantage by

• A)encouraging greater flexibility and therefore a quicker response to environmental changes.
• B)making it more homogeneous and thus able to appeal to restricted markets.
• C)spreading out its efforts so that the company can take a multi-pronged approach.
• D)creating a positive image with the media and thus improving stock prices.
• E)sending a message to the federal government that the company is diverse.

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Definitions:

Company's Reputation

The collective perception held by stakeholders about a company's integrity, quality, reliability, and customer interactions.

Short-Term Profits

Earnings realized over a quick period, often prioritized at the expense of long-term strategic goals or investments.

Variable Costs

Expenses that vary directly with the level of production or output, such as materials and labor.

Sustainable Practice

Approaches and activities that seek to balance environmental, social, and economic factors to meet present needs without compromising future generations.