The factors presented under this model change over time, and they determine the success of the company. The changes are likely to present new opportunities and threats to a company, thus, there is a need for continued evaluation of the industry to ensure that a company exploits the opportunities and protects itself from threats. Political factors The political factors in the retail market are associated with the government policies and the political interest groups. In this case, the retail industry operates under high political stability due to democratic elections systems. There is also increased political support for globalization and political pressure for higher wages as the minimum wage requirements are raised (Yüksel, 2012).
Key works: workforce diversity, contract workers, employees, diversity, divergent attitude, human resource management, international employees, consumers, consumer behavior, empathic marketing 1.2 Thesis Statement Diversity in the workforce provides unique employment opportunity and benefit, strengthen organizational outcome and further provides a platform to Exchange culture and lifestyle. On the other hand diversity workforce challenges increased in cost of training requires HRM careful employee’s selection and increased conflict due to demographic differentiation. 2 Part
The modern day market is marked with the rapidly changing consumer preferences; the choices made by consumers are mainly influenced by their sociocultural preferences (Parsons & Oja, 2012). It’s for this reason that Wiggle & Wong has been reorienting itself accordingly in order to ensure that it produces products that match the socio-cultural factors demands of each country it operates in. Primary and Secondary Target Markets, and the 4Ps, 5Cs, and STP Davis (2013) affirms that a good marketing strategy should not only target the market, but also target people. Wiggle & Wong, Inc. targets people, and the primary market comprise of business people and college students interested in the firm’s innovative computing and gaming products. The secondary market consists of adults, teenagers and young children.
It is evident that the cultural diversity within this organization will not only continue to be a challenge but it will become a more important factor as the years go by. The diversification of the available workforce in the United States is becoming even greater meaning we will only have to develop more comprehensive procedures to overcome any cultural barriers and prejudices. Employers have used three different approaches to promoting diversity, argue researchers from the University of California, Berkeley, Harvard University and the University of Minnesota in a study published in the August 2006 issue of "American Sociological Review." Establishing organizational responsibility for diversity, diminishing managerial bias through training and reducing the social isolation of minorities are prominent
Diversity Management a Rational Approach towards Productivity: A Conceptual Framework Abstract: The subject matter of this paper focuses on pursuing diversity management by organisation being considered as rational approach in conducting business at a competitive global market. In an era of globalization diversity management is increasingly becoming an important issue. The paper introduces a framework for expanding the diversity management research towards conceptual and empirical direction. Thus focussing how diversity management is being positively associated with organisation productivity. Being a part of a worldwide economy with competitors coming from every continent, the world increasing globalisation has led to interaction among people
Abstract Overall, globalization can be considered as the broadening, strengthening and growing force of a global interconnection. The conception of globalization has made it possible to map experiential patterns of worldwide relations and linkage of human activity from cultural to military. As companies expand globally, they need to understand how to compete successfully in each marketplace. Companies need to assess each local opportunity and market and understand the related influences on the customers. As companies discover new international markets, they must also face new workplace challenges, such as selecting appropriate overseas personnel and building and maintaining cross-cultural teams.
Planning can be defined as establishing the goals of an organisation, creating strategies to achieve these goals and implementing these plans into work activities in order to achieve these goals (Robbins & Coulter, 2016, p. 248). Planning is necessary for the implementation of Workplace Diversity because it establishes an efficient and exact process to establish diversity. Workplace Diversity, in the context of organizational management, is the systematic and planned commitment of an organizations to recruit and retain employees from diverse demographic backgrounds (Prasad, & Mills, 1997). Planning is used to design such diversity initiatives because scientific studies have shown that there is a strong interlinkage between social behaviour
Moreover, the tax regulations, personnel laws, ecological regulations, and industry-particular regulation can be changed relying upon the country current economic situation. For example, the process of elections in different countries plays a basic part in the globalisation of hospitality market. Eventually, the conceivable changes of regulations and laws can either advantage or represent a detriment for the tourism organisations that are operating internationally. However, another political issue is visa limitations for the reason that in UK and the US, the migration has executed more strict regulations making it harder for outsiders to acquire a traveller visa. Particularly after the 9/11 terrorist assault, the US has turned out to be more stringent on the issuance of visas (Levonsky & Conley,
In my essay I will talk about different business strategies which companies can adopt in case of responding to issues of globalization. First of all I would like to define all the terms that will appear in my essay. Globalization is the global evolution toward economic, financial, trade, and communications integration which implies the opening of regional and nationalistic perspectives to a wide attitude of an interconnected and interdependent world with free transfer of capital, goods, and services across domestic frontiers. Growth strategy is a strategy aimed at winning greater market share, even at the expense of short-term profit. If we consider globalization process according to SWOT analysis, we will obtain its strengths, weaknesses,
Moreover, in spite of the rapidly changing practices of global business setting and also different development of association structure, the center peculiarities of general administration, for example, formalization, chain of command and staff ability for timeless, conformance and clear responsibility remain inescapably fundamental for contemporary associations to stay in front of progressively escalated rivalry. At last, association administration should contemplate elements influencing productivity of organization application, for example, nature of work energy, social qualities and in particular, consistent change of this administration style to get up to speed with snappy change and popularity of contemporary associations. For sure, administration, in the same way as another styles of administration, innately has both negative and positive impacts, the issue for contemporary administration is the means by which to take favorable circumstances and reduce the burdens in the most proper
Leaders are able to send a powerful message when they can demonstrate a commitment to diversity and inclusion that goes beyond rhetoric. In order to find leaders who are a part of the diversity movement, you have to find companies that have the reputations for successfully influencing diversity. When you find those companies and leaders, you then have to assess the leaders progress by examining leadership attitudes, employment statistics, and third-party recognition. Cultural differences should also be taken into account when assessing companies and their leaders about diversity. Advancing diversity needs to be approached intentionally as a personal mission.