What type of leader am I?

photo-19

 

At this point of my MBA and professional career, I should be ready to asses my suitability for being a good leader and also how prepared I am to be led by others. The proposed video (https://www.youtube.com/watch?v=CWglvWTsswE) lists some characteristics that a good leader should have: charismatic, optimistic about goals, clear about what is needed to achieve as a team, genuine, consistent, values-driven, communicative, helpful, resourceful, responsible, charge-taker, strong principles, adaptive, respectful, efficient and inspirational. The following inspirational video adds up to 60 qualities that a good leadership should aim (Hari 2014):

Mullins reduces the numerous leadership styles into 3: Authoritarian, Democratic and Laissez-faire (2013: 377), depending upon where the power is focused, freedom and interactions.

styles (assignmenthelpexperts.blogspot.co.uk 2014)

Respecting the sorts of leader, the literature offers different approaches sharing though 3 common types: coercive (using their power), transactional (rewarding good performance) and transformational (making tomorrow better) (Mullins 2013: 385). The following video summarises the 3 concepts crearly:

During my group activities in the Leadership module, my peers have told me I own leadership skills and I was always selected the ‘head’ and coordinator of the group whenever it was requested. Nevertheless, I believe I lack some skills required to be an ideal leader. I have the opinion that I am assertive, comprehensive and communicative, charismatic and analytic, however I have some weaknesses I need to work on: impatient, presentation skills, excessively focused on the particular topic which can cause I do not see the big picture of the issue and not very adaptive. In the module final presentation, the fed-back I received from my colleagues is that my message was clear, however I did not manage properly my time and consequently the group could not finish on time. Therefore, I do not know yet what type of leader I am but I know I would like to be a transformational leader, generating vision for the organisation and breedinggreat levels of commitment and motivation between my future subordinates, as well as ideals and values, generating a feeling of fairness, fidelity and trust (Mullins 2013: 386).

We have discussed in previous blogs the consequences of embracing change and how to manage it. World, companies, trends, habits, technology, etc. change extremely fast and companies must be up-to-date with them if they want to compete and win this competitive battle. As a manager, we should follow this pattern along with our team, although some individuals may be reluctant. We have also discussed about diversity and the impact on the team in this global world. Additionally, financial goals, operational targets, corporate objectives, etc. In fact, managers face challenges daily and it is their own interest to overcome all of them and succeed. Lastly, we analysed the impact of ethics on business and the drivers for companies to adhere to Corporate responsibility guidelines in order to avoid ‘legal headaches’, consumer actions, bad publicity or employee morale (Daniels et al 2013: 248).

As a practical example, I would like to talk about my previous professional experience in Doha, Qatar where I had the opportunity to manage a team of technicians and Engineers. I still tremble when I remember my first moments there: new country with harsh weather conditions and different culture, totally different to what I was used to, multi-race team, with ethnicities I had not been exposed in my life and, to make it easier, a massive Airport project to be built. I wish I have had the opportunity to study Leadership prior such experience. Also, I was led 3 different managers with 3 different mentalities. Luc, first one, was a transactional leader, ‘giving me if I give to him’ with a Laissez-faire style, observing us and letting us on our own. Robert, second one, was an extreme coercive leader with authoritarian style, ruling unethically with fear; any of his team liked him, instead they hated him but because of the panic he caused, no one would ever contradict him, even when he was wrong. His practices drove him to the solitude and he was not supported by his team when he found problems outside the project. Seb, third one, was a transactional leader too but democratic in this case since there was more interaction than before. However, he did not fulfil several qualities of a good leader, in particular related to his team’s motivation, commitment and trust, hence he was the opposite of a transformational leader. But also I was a manager and this was even harder than being led due to the nature and size of my team. Although I was charismatic, ethical and communicative, I failed in realizing that different culture means different values and it took me some time to build rapport and trust with my workforce.

Someone who inspired me during this strenuous situation was Jules, a director based overseas appointed temporarily for technical support. Although I was not reporting to him, his behaviour motivated me, instructing but also listening to me. He was an inspirational leader, supplying a strong vision and sense of mission, evoking strong emotions and sense of identification (Mullins 2013:387).

As a result of my academic knowledge during my MBA, along with my previous professional experience, I have developed a number of leadership skills such as charisma, responsibility, ethics, communicative, humorous, positive and open-minded. However there are still abilities like confidence, delegation, determined, innovative and inspiration, which need to be strengthened in the long-term to become an excellent leader, ideally a servant leader, empowering people through honesty, respect, nurturing and trust (Mullins 2013:389).

References

assignmenthelpexperts.blogspot.co.uk (2014) Leadership and difference between leadership and management [online] available from <http://assignmenthelpexperts.blogspot.co.uk/2011/08/leadership-and-difference-between.html>%5B28 Jun 14]

Daniels, J., Radebaugh, L. and Sullivan, D. (2013) International business. Harlow: Pearson

Hari, G. (2014) 60 Leadership Qualities [online] available from <https://www.youtube.com/watch?v=w2NuPUV4LoE > [28 Jun 2014]

Mullins, L. (2013) Management and organisational behaviour. Harlow: Pearson 

Ethical leader behaviour and the positive individual and organisational effects

Image

Personally, I believe “Ethics” is one of the most difficult word to be defined. It is easier though, to find words intrinsically related to it, such as: moral, principles, behaviour, integrity and manners, or even Corporate Social Responsibility from a business perspective.

Ethical leadership is a type of leadership where the previous listed words are considered. Mullins highlights “the importance of ethical behaviour, integrity and trust calls into question the extent to which managers should attempt to change the underlying values and beliefs of individual followers” (2013:664). When analysing the causes and effects of ethical leadership, managers should do it from the personal and organisational point of view. Yes, ethics are good and company´s culture, vision, principles and strategy should be firmly based on Ethics, however, to what extent are Ethics in conflict with company´s financial performance?

Benchmark proposes this model which clarifies the relevance of ethics and integrity being the foundations for the organisational ethics and the combination of these supports the corporate excellence:

pillars

(Benchmarkcm.com 2014)

Indeed, ethics and financial prosperity may appear to be in conflict in many instances, however taking the right decision, i.e. being ethical, it is always the best long-term strategy (Wadhwa 2005). Managers may face corruption, blackmailing, betrayal, interests or even harassment risking company´s success but, under every circumstance, integrity and ethics should be the base of their decisions. At this point, my advice for a successful implementation of Ethics into the organisation is to be courageous and “act from our hearts in the face of fear” as commented by B. Deterline:

Regardless how ethical and compassionate we believe we are, as human beings, we are all vulnerable to betray our own values by challenging situations and an easy method to find out those situations, we must reflect on these moments where we thought: I should do or say something, but finally we did not. The good news from this event is that we can choose and avoid this ´ethical fading´ caused by operational objectives and pressure with courage.

Similar thoughts may arise in the board of directors of a big multinational company. Nowadays there is a high level of competition and firms fight aggressively to be the leader or even survive. In those scenarios is where pressured companies may decide to perform unethically. Different perspectives are used to determine whether a company is ´unethical´ or not: human rights, children protection, environmental issues, animal welfare, practises against the local culture, etc. As an example, those are some companies categorised as ´unethical´ by different organisations:

  • AFOP (actionforourplanet.com 2014): 1) Montsanto, suing farmer who decided not to grow genetically modified crops, 2) Halliburton, using their influences to get contracts in Iraq or Nigeria, 3) Chevron, environmental and human issues, 4) Freeport – MCMoran, human rights abuses in West Papua, 5) Phillip Morris, marketing strategies towards children, etc.
  • Businesspundit.com (Gerri 2013) lists companies with unethical practices: Toyota ignoring safety conditions to save money, Apple and their labour conditions in China, Trafigura or Chevron dumping toxic waste into the environment, DynCorp spraying unjustified amounts of herbicide on crops, etc
  • List25 enumerates 25 corporation´s scandals:

Therefore, firms are responsible of working on their staff ethics, integrity and values, starting from the high management downwards to the last person in the line (ACFE 2014), then establish a code of ethics to be monitored implementing effective disciplinary measures and creating a conduct of doing the right thing.

Companies, avoiding being perceived as irresponsible or seeking to develop competitive advantage, implement ethical behaviour as a methodology in achieving their goals (Daniels et al 2013: 231). The second reasons is intrinsically related to Corporate Social Responsibility and companies are currently investing in CSR since unethical behaviour can result in legal headaches, consumer actions (such as boycott), employee moral aspects or sales unexpected disruptions due to bad publicity (Daniels et al 2013).

As an organisational example, I would like to select a Spanish firm recognized by their ethical values. Searching in Forbes, Adams shares a ranking with the most valued companies in terms of corporate ethics rate (Adams 2014) prepared by Etisphere Insititute, AZ (USA). I was shocked to discover than only one Spanish company, Iberdrola, was present in this ranking. Although it was not in this ranking, I would like to use Indra as an example of ethical company which was considered a world ethical company in 2011 in the aerospace industry (hrneurope.com 2013). Also, Indra was recognized by the “The Sustainability Yearbook 2011” as sector leader, as well as complied to ´Women’s Empowerment Principles´, an initiative started up by United Nations Global Compact and United Nations Development Fund for Women (UNIFEM) to empower women in the workplace, marketplace and community. Indra´s policy targets excellence and leadership sustainability, corporate responsibility and corporate governance while observing these aspects so as to implement the best practices and national and international recommendations (indracompany.com 2014).

As a conclusion, I would like to use Vivek´s quote (brainyquote.com 2014):

“Corporate executives and business owners need to realize that there can be no compromise when it comes to ethics, and there are no easy shortcuts to success. Ethics need to be carefully sown into the fabric of their companies”

References

ACFE (2014) How management can prevent fraud in the workplace [online] available from < http://www.acfe.com/uploadedFiles/ACFE_Website/Content/documents/tone-at-the-top-research.pdf > [28 June 2014]

actionforourplanet.com (2014) Unethical companies [online] available from < http://www.actionforourplanet.com/#/top-10-unethical-companies/4545796858 > [28 June 2014]

Adams, S. (2014) The World’s Most Ethical Companies 2014 [online] available from < http://www.forbes.com/sites/susanadams/2014/03/20/the-worlds-most-ethical-companies/ > [28 June 2014]

brainyquote.com (2014) Ethic quotes [online] available from < http://www.brainyquote.com/quotes/keywords/ethics.html > [28 June 2014]

Daniels, J., Radebaugh, L. and Sullivan, D. (2013) International business. Harlow: Pearson

hrneurope.com (2013) 2011 World’s Most Ethical Companies [online] available from < http://www.hrneurope.com/2011/04/2011-world%E2%80%99s-most-ethical-companies/ > [28 June 2014]

indracompany.com (2014) INDRA, THE ONLY SPANISH COMPANY ACKNOWLEDGED ONE OF THE WORLD´S MOST ETHICAL BUSINESSES [online] available from < http://www.indracompany.com/en/noticia/indra,-the-only-spanish-company-acknowledged-one-of-the-world%C2%B4s-most-ethical-businesses > [28 June 2014]

Mullins, L. (2013) Management and organisational behaviour. Harlow: Pearson

benchmarkcm.com (2014) Core values [online] available from < http://www.benchmarkcm.com/benchmark-core-values.html > [27 June 2014]

Gerri (2013) 10 Most Unethical Business Practices in Big Business [online] available from < http://www.businesspundit.com/10-most-unethical-business-practices/?img=45140 > [27 June 2014]

List25 (2014) 25 Biggest Corporate Scandals Ever [online] available from < https://www.youtube.com/watch?v=LrJaOOGJLW0 > [27 June 2014]

Wadhwa, V. (2005) Integrating Ethics at the Core [online] available from < http://www.businessweek.com/stories/2005-11-07/integrating-ethics-at-the-core > [27 June 2014]

Managing change

 

Do you consider yourself as a dynamic person, welcoming new ideas, or rather static, resistant to change? As a manager, it is important to apply this question to every team member before implementing change in order to avoid any negative consequence over the group performance.

Yes, some people dislike changes, then, prior any change, managers should consider these questions (Quast 2012): 1. What are the changes? 2. Who is affected? 3. How will be they affected? And 4. What might be their reaction? Once these points are evaluated, 5 possible reasons of resistance:

  • Fear to uncertainty. The affected stakeholders may push back against the change if they are not properly informed
  • Mistrust. In instances where the members do not fully trust their manager, the individual may be reluctant to change
  • Reduction of stability or control. In cases of restructuring or downsizing, individuals may feel fear against downgrading or termination
  • Bad timing. Change should be implemented at the right moment and with an appropriate extent of empathy
  • Some people appreciate change, some other dislike it.

Consequently, managers should warn their employees about any future change, especially to those ones reluctant, at the right moment and considering their personal interests, feedback, creating trust between both parties. Lastly, managers ought to convince their subordinates that the coming change will not be negative and ideally, it will be an improvement.

On the other hand, some individuals perceive change as an occasion to learn new things and develop professionally. Indeed, change is necessary for improvement and everyone wants to improve themselves personally and professionally.

Indeed, in this global and competitive world, consumers easily access to a wide range of products, enjoying the change and consequently product life cycle has been shortened to an extent that a computer, for instance, becomes outdated few days after purchased. Then, what is the negative aspect of change? Some people embrace change but dislike transition:

Some others, worry about the especially significant uncertainty which, if properly managed, will disappear and creation and innovation will arise along with the change. Hence, managers should: have a strong positive belief, support their team, apply change to themselves and be perseverant & passionate (Janewski 2014).

Image

How strong this change resistance can be and what the manager can do to surmount it?

Resistance, to a certain extent, threatens the success of the venture and eventually undermine innovation, productivity, quality and relationships, therefore is extremely important for the manager to 1. Spot it, gossips, critics, absenteeism, sarcastic notes, non-attended meetings, lack of commitment, constant arguments or absolute sabotage and 2. Overcome it, by providing accurate, transparent and complete information on time, being with the team, supportive, engaging the subordinates and convinced about the positive changes (Heathfield 2014). If they persist in their opinion, the following are some tips to minimize, reduce and make less ´painful´ the change:

  1. Managers owns the new idea, even if it was not originated by them
  2. Accept the final decision taken, even if it is different to yours
  3. No partial support. The chosen decision has been taken and it is your responsibility to make it work. Otherwise you will be disrespectful and destructive towards the group
  4. As a transparent and honest manager, subordinates will more likely accept the change
  5. Share the information
  6. Explain the subordinates how the change will positively impact on them
  7. Empathize with employees by listening to them
  8. Encourage subordinates to provide feedback
  9. Reflect on it and generate and try to constantly improve

 

The question now is, do companies really embrace change or is it only a utopia? Technology is an industry I am attached to and really embraces technology becoming sometimes key for survival (Wakeman 2009) and Washington Technology releases annually the Top 100 companies embrace change ranking (visit http://washingtontechnology.com/toplists/top-100-lists/2013.aspx ). Ericsson is an example of technological company welcoming change:

To sum-up, change means innovation, evolution, improvement and succeed so companies should embrace change. Nevertheless, change is not easy and must be properly managed, identifying the need for change, assessing the right moment to go for it, communicating their subordinates and obtaining their feedback, being part of this transition convinced that the future stage will be better than the current situation and eliminating all fears, mistrusts and anxiety towards it. Success is guaranteed if change is properly managed!

 

References

Heathfield (2014) Resistance to Change Definition [online] available from < http://humanresources.about.com/od/glossaryr/g/Resistance-To-Change-Definition.htm > [14 June 2014]

Janewski, M. (2014) People like change [online] available from < http://www.banffcentre.ca/leadership/library/pdf/people_like_change_janewski.pdf > [14 June 2014]

Quast, L (2012) Overcome The 5 Main Reasons People Resist Change [online] available from < http://www.forbes.com/sites/lisaquast/2012/11/26/overcome-the-5-main-reasons-people-resist-change/ > [13 June 2014]

Wakeman, N. (2009) The Top 100 companies embrace change as a key to survival [online] available from < http://washingtontechnology.com/articles/2009/05/11/top-100-intro.aspx > [14 June 2014]

 

Most effective leadership style to managing the work of subordinates

It is sometimes hard to demarcate the boundary between leadership and management and people tend to understand them similarly. Leadership is ¨a relationship through which one person influences the behavior or actions of other people¨ (Mullins 2013: 369) whereas Management is regarded as ¨taking place within a structured organizational setting with prescribed roles, directed towards the attainment of aims and objectives, achieved through the efforts of other people and using systems and procedures¨ (Mullins 2013: 421)

Many meanings are available but an easy way to grasp the difference is by comparing them:

Image

(sf.densilporteous.com 2014)

Looking to the past, different definitions, classifications and theories have been applied:

  1. Fayol established 14 principles, based in authority, discipline, command and centralisation, and 5 elements of management:

Image

(mbaknol.com 2014)

 

  1. Later on, Drucker continued the analysis and established the 5 operations of the manager:

Image

(kfknowledgebank.kaplan.co.uk 2014)

 

  1. Mintzberg was more focused in the different roles the manager can play, classifying them in 3 types, depending what is managed:

Image

(biggerplate.com 2012)

 

  1. McGregor created Theory X and Y to classify managers with regards to the way managers look to their employees:

Image
(nitieim19pomb126.blogspot.co.uk 2012)

Most of the managers have questioned themselves whether they are good manager or not. But, what is a good manager?

Image

(Krigsman 2008)

Roberta Matuso summarizes several characteristics a candidate should have in order to be an excellent manager (Matuso 2014):

  • Commitment in the process of becoming a ¨magnetic¨ manager
  • Great managers and great listeners
  • Terrific managers put the needs of their employees first
  • Excellent managers mentor, support and champion their people
  • Great managers reward their people for a job well done, giving credit where credit is due
  • Smart managers help their people gain the skills they need to be promotable
  • The best managers have their employees’ backs

However, the above mentioned topic relates to effective leadership. Indeed, a manager manages time, material, resources, goals, objectives but also people, therefore, additional skills are required in order to succeed. A manager not necessarily will be a leader and vice-versa but ideally the candidate leads the team and manages four different groups of people: subordinates, superiors, customers and colleagues.

Having analysed the evolution of Management concept and taking into consideration that managers aim to be a successful leader, the question is: what personal style should I adopt and what is the most effective approach to manage the subordinates´ work? Personally, I do not think there is a unique style or approach since every team has a different identity, content, targets, interests, worries or reality. Hence, the manager needs to analyse both, every member independently and as a group, and then compare the result with the company´s objectives, enhancing the common aspects and resolving the differences so as the whole unity moves forward towards similar goals and motivations.

It is important to remember that managers should be clear, direct and concise when communicating so subordinates will understand their tasks. This ideal communication is often assumed but not always happens and generates frustration in the subordinates and eventually the manager will realize that the staff is not working as he thinks he had commanded. At this point, I would like to reflect on an exercise experienced during the MBA where I was playing the manager role, classmate 1 was my subordinate and classmate 2 the builder. From an initial 5-pieces Lego structure, I was requested to generate an identical shape by the builder through my subordinate. We were competing with other managers so time was crucial and my team was multi-cultural. I found several obstacles during this activity which can be grouped in 3:

  • Communication: different nationalities, none of us English native speakers. Moreover, I was not sure about the number of commands to give every time for my instruction to be efficient and properly understood
  • Personal skills: I am a visual person, so it is easy for me to define the structure through images but we were only allowed to use verbal instructions. The Lego pieces had different colours and sizes and connected in several ways (horizontally, vertically, above, below). The subordinate was less used to work under pressure so, as we were reaching the end of the experience, she got confused when listening to the instructions
  • Interaction: improving subordinates´ perception by moderating the instruction, proper voice level, limit the number of instructions, repeat as many times as necessary for the subordinate to understand the goals

Personally, if I am the one being led, I would like to be listened, considered, motivated and involved in the company´s activities having a manager able to lead the team efficiently, decisive, assertive and problem solver.

To sum-up, managers willing to become efficient leaders should analyse their teams, being by their side and creating the strategy in accordance with the company´s objectives, taking into consideration there is no general strategy and the most suitable approach depends upon the characteristics of its members.

 

References

biggerplate.com (2012) Mintzberg’s Managerial Roles [online] available from < http://www.biggerplate.com/mindmaps/1JpRpTtY/mintzberg-s-managerial-roles-160 > [11 June 2014]

Krigsman, M. (2008) How to be a Good Manager [online] available from < http://geekandpoke.typepad.com/geekandpoke/2008/02/how-to-be-a-goo.html > [11 June 2014]

Matuso, R. (2014) How to Become a Great Manager in 2014 and Beyond [online] available from < http://www.forbes.com/sites/robertamatuson/2014/01/02/how-to-become-a-great-manager-in-2014-and-beyond/ > [11 June 2014]

mbaknol.com (2014) Henri Fayol’s Principles of Management [online] available from < http://www.mbaknol.com/management-principles/henri-fayols-principles-of-management/ > [10 June 2014]

Mullins, L. (2013) Management and Organisational behaviour. Harlow: Pearsons

nitieim19pomb126.blogspot.co.uk (2012) Theory X, Theory Y and Theory Z [online] available from < http://nitieim19pomb126.blogspot.co.uk/2012/08/theory-x-theory-y-and-theory-z.html > [11 June 2014]

sf.densilporteous.com (2014) Are you a leader or a manager? [online] available from < http://sf.densilporteous.com/are-you-a-leader-or-a-manager/ > [10 June 2014]

Diverse teams produce better results

In today’s global world, countries are becoming more divers in terms of ethnicity, gender, culture, religion, etc. Currently in London, I see it everyday, cultures and ethnic minorities from all over the world and expected to continue this trend reaching 20 – 30% of the English and Welsh population by 2051 (Chapman 2014).

Image

(Chapman 2014)

 Image

 (Johnston 20016)

With this scenario, companies ought to take advantage of this current situation because culture and social attitude actually have an impact onto the organisations (Mullins 2010:90).

 

Not only ethnic, but gender diversity is also important since, unfortunately, women hold only 3% of CEO positions and 15% of board seats from Fortune 500 companies and female membership of FTSE-100 company boards reached 17% in 2013 in UK. However, companies with more women on their boards were found to outperform their rivals, with a 42% higher return in sales, 66% higher return on invested capital and 53% higher return on equity (Almond 2013).

Another point of diversity is the nationality and, personally, I have always been curious about the personality of a nation, how it has been shaped, factors affecting to the individuals as a group, if it can be modified artificially, etc. At his point, Hofstede developed an incredible analysis (geert-hofstede.com 2014), defining each nationality based on 5 parameters that I would like to reflect on using the comparison between my country (Spain) and UK.

Image

(geert-hofstede.com 2014)

Particularly, I would like to highlight the 86 in Uncertainty Avoidance (35 for the UK), which is the extent to which the members of a culture feel threatened by unknown situations and have created beliefs and institutions that try to avoid these. As per the report, Spanish are the noisiest nationality in the world, like to have rules and avoid changes. Personally, I believe northern-European mentality is more rule-driven and an evidence of that is the impression of several Saxon people when living in Spain:

Therefore, diversity has a positive impact in the working teams which brings several advantages. Chloé Morrison (Morrison 2013) lists some of them:

  • Harmonious, innovative working environment, leads to customer satisfaction and generally contributes to success at a company
  • Potentially increase company market share, cut down on turnover costs, make a business more able to adapt and lead to a more creative environment, according to the Center for American Progress
  • For companies who work directly with customers, having experience with a diverse workforce makes them better able to connect to and serve their diverse range of clients

Companies in search of success, and perhaps recognition, should look for multi-cultural employees willing to work in this prosperous environment which will eventually bring victory to the company and awards. An example of it is Dell.

DiversityInc has evaluated list of companies with regards to their diversity, ranking them based on several parameters (diversityinc.com 2014):

  • Presence and role of a global diversity council
  • Effective use of global employee resource groupfor recruitment and talent development
  • Global policies to prevent discrimination and harassment
  • Global initiatives to hire and promote people with disabilities
  • Global initiatives to hire and promote LGBT people
  • Cross-cultural mentoring initiatives
  • Specific talent- and leadership-development initiatives for women
  • Global supplier-diversity initiatives

and obtaining the ranking of the top 10 companies for global diversity, all of them successful, growing and sustainable:

1. Deloitte
2. IBM
3. Sodexo
4. EY
5. Accenture
6. Procter & Gamble
7. Merck & Co.
8. Dell
9. Johnson & Johnson
10. Wyndham Worldwide

Briefly, diversity should be considered an asset, key to success, since widen company´s array of talents and skills which harvest creativity and innovation. Firms need to analyse their environment so they can understand and predict the diverse needs of their clients (businesscasestudies.co.uk 2014).

Image

 (businesscasestudies.co.uk 2014)

Reasons for diversity:

  • Respectable companies comply with anti-discrimination regulation
  • Companies aim to appeal as many candidates as possible in order to fulfil their recruitment requirements
  • The reality outside is changing and firms should update with it. A culture of inclusion will help them to create a sustainable company
  • Motivation and commitment among the employees can be gained through this culture of respect and values
  • New employees will offer the company new points of view and ideas which potentially will generate new products or services
  • It helps to gain competitive advantage in new markets
  • Diversity helps to achieve a powerful brand profile

 

References

Almond, S. (2013) Gender diversity in leadership is key to business success [online] available from <http://www.theguardian.com/sustainable-business/gender-diversity-leadership-business-success&gt; [9 Jun 2014]

businesscasestudies.co.uk (2014) The business benefits of diversity [online] available from < http://businesscasestudies.co.uk/lloyds-tsb/the-business-benefits-of-diversity/introduction.html#axzz34AVUCNTY > [9 June 2014]

Chapman, J. (2014) Ethnic minorities ‘will make up one third of the population by 2050’ as Britain’s melting pot continues to grow [online] available from <http://www.dailymail.co.uk/news/article-2620957/Ethnic-minorities-make-one-population-2050-Britains-melting-pot-continues-grow.html&gt; [9 Jun 2014]

Chloé, M. (2013) Company leaders say diversity is key to success [online] available from <http://www.nooga.com/163848/company-leaders-say-diversity-is-key-to-success/#&gt; [9 Jun 2014]

 dell.com (2014) Diversity Awards and Recognition [online] available from < http://www.dell.com/learn/uk/en/ukcorp1/corp-comm/diversity-awards&gt; [9 June 2014]

diversityinc.com (2014) The DiversityInc Top 10 Companies for Global Diversity [online] available from < http://www.diversityinc.com/top-10-companies-global-diversity/&gt; [9 June 2014]

geert-hofstede.com (2014) Country comparison [online] available from < http://geert-hofstede.com/spain.html&gt;  [9 June 2014]

Johnston, P (2006) Diversity index reveals Britain’s ethnic mix [online] available from < http://www.telegraph.co.uk/news/uknews/1530681/Diversity-index-reveals-Britains-ethnic-mix.html&gt; [9 Jun 2014]