Impact of Technology and Workforce Diversity on Corporate Sector
Impact of Technology and Workforce Diversity on the Corporate Sector | Keerthi Purushothaman
III B.A. Corporate Economics
10CEM28
|
Introduction
With the onset of globalization, the corporate sector has transformed in many ways. It has adopted new work policies and adapted to new technologies. The impact of technology and workforce diversity on corporates is an area of growing importance. In a multicultural nation such as India, workforce diversity has a huge impact on business. With the expanding innovations in technology, businesses are forced to explore and adapt to new technologies in order to make the processes faster and more effective. This is also important for them to be able to stay ahead of the game and face competition.
Businesses today use technology in almost every facet of operation. They communicate with advanced network systems; they analyze data and plot forecasts using complicated programs; they utilize all types of digital media for marketing campaigns; and they streamline operations with new inventory and check-out systems. Technology is not without its downsides, but business cannot deny the impact it has had on every level.
As we enter the 21st century, workforce diversity has become an essential business concern. In the so-called information age, the greatest assets of most companies are now on two feet (or a set of wheels). Undeniably, there is a talent war raging. No company can afford to unnecessarily restrict its ability to attract and retain the very best employees available.. Employers are realizing the importance of a diverse workforce and the impact it has on the business. Diversity is the inclusion of things, people, and places that are different. For example, having different races, genders, ages, and ethnicities of people in one place is showing great diversity. No one thing or person is the same and is made up of different cultures and backgrounds. Also diversity can be the different opinions of individuals.
III B.A. Corporate Economics
10CEM28
|
Introduction
With the onset of globalization, the corporate sector has transformed in many ways. It has adopted new work policies and adapted to new technologies. The impact of technology and workforce diversity on corporates is an area of growing importance. In a multicultural nation such as India, workforce diversity has a huge impact on business. With the expanding innovations in technology, businesses are forced to explore and adapt to new technologies in order to make the processes faster and more effective. This is also important for them to be able to stay ahead of the game and face competition.
Businesses today use technology in almost every facet of operation. They communicate with advanced network systems; they analyze data and plot forecasts using complicated programs; they utilize all types of digital media for marketing campaigns; and they streamline operations with new inventory and check-out systems. Technology is not without its downsides, but business cannot deny the impact it has had on every level.
As we enter the 21st century, workforce diversity has become an essential business concern. In the so-called information age, the greatest assets of most companies are now on two feet (or a set of wheels). Undeniably, there is a talent war raging. No company can afford to unnecessarily restrict its ability to attract and retain the very best employees available.. Employers are realizing the importance of a diverse workforce and the impact it has on the business. Diversity is the inclusion of things, people, and places that are different. For example, having different races, genders, ages, and ethnicities of people in one place is showing great diversity. No one thing or person is the same and is made up of different cultures and backgrounds. Also diversity can be the different opinions of individuals.