Power of Diversity
Running head: THE POWER OF DIVERSITY
Inclusiveness, a competitive advantage
James O’Neal
Cardinal Stritch University
Dr. Elvira Craig de Silva
ASB 260
May 2, 2012
Introduction Becoming a diverse organization makes good business sense for both for profit and not for profit companies. Creating a diverse workforce provides tremendous opportunities for organizations and individuals to tap into the ideas, creativity and potential contributions inherent in a diverse work force. The composition of America’s workforce is changing. According to the census Bureau, nonwhite will represent more than one-third of the U. S. population by the year 2010 and close to half of the U. S. population by the year 2050. By the year 2005, the ethnic minority share of the workforce will reach 28 percent. It is also projected that the Hispanic-American population will be the largest minority group in the U. S. by the year 2010. In order for companies to fully and aggressively compete in the marketplace, they will need to consider these statistics and work towards attracting, recruiting, developing and retaining a diverse workforce. This will be critical if they are to survive. They will also need to recognize that the market they cater to is becoming more diverse. Diverse groups are a growing percentage of the buying power in the United States. In order to maintain competitive advantage in the sector they serve, organizations will need to truly understand its customers, clients, members and employees and will need to create an
Organizational climate that is welcoming to all. Managing diversity is a big issue facing businesses today. Many businesses feel that being in compliance with anti-discrimination laws means that they are successfully diverse. Compliance is only the first step in the process of workplace diversity; they must operate as an inclusive corporate culture to be profitable. From
Inclusiveness, a competitive advantage
James O’Neal
Cardinal Stritch University
Dr. Elvira Craig de Silva
ASB 260
May 2, 2012
Introduction Becoming a diverse organization makes good business sense for both for profit and not for profit companies. Creating a diverse workforce provides tremendous opportunities for organizations and individuals to tap into the ideas, creativity and potential contributions inherent in a diverse work force. The composition of America’s workforce is changing. According to the census Bureau, nonwhite will represent more than one-third of the U. S. population by the year 2010 and close to half of the U. S. population by the year 2050. By the year 2005, the ethnic minority share of the workforce will reach 28 percent. It is also projected that the Hispanic-American population will be the largest minority group in the U. S. by the year 2010. In order for companies to fully and aggressively compete in the marketplace, they will need to consider these statistics and work towards attracting, recruiting, developing and retaining a diverse workforce. This will be critical if they are to survive. They will also need to recognize that the market they cater to is becoming more diverse. Diverse groups are a growing percentage of the buying power in the United States. In order to maintain competitive advantage in the sector they serve, organizations will need to truly understand its customers, clients, members and employees and will need to create an
Organizational climate that is welcoming to all. Managing diversity is a big issue facing businesses today. Many businesses feel that being in compliance with anti-discrimination laws means that they are successfully diverse. Compliance is only the first step in the process of workplace diversity; they must operate as an inclusive corporate culture to be profitable. From