Business report Value: 45% Due date: 13-May-2018 Return date: 05-Jun-2018 Length: 2,500 words+/-10%. Submission method options Alternative submission method Task Assessment 2 requires you to prepare a...

DIVERSITY MANAGEMENT        1
DIVERSITY MANAGEMENT        10
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Executive Summary
The concept of Diversity management is the buzzword in today's organizations. The process of globalization has given rise to workforce diversity as an important component of organizations, to which they have to respond in a way by managing diversity within the workplace to get maximum benefits out of it. Managing diversity is important not just because it results in organizational effectiveness; it also helps in maintaining market share, goodwill and ultimately profitability. This report is based on the purpose of establishing the foundation for diversity management for businesses to persuade the CERA management and describe the importance of implementing diversity management practices in the firm. It explains the consequences that can occur if DM not done properly in this globalized economy.
Contents
Executive Summary    2
Introduction    4
Diversity Management (DM)    4
Rationale for Diversity Management    5
Recommendations    8
Conclusion    9
References    10
Introduction
The concept of Diversity management is the buzzword in today’s organizations. The process of globalization has given rise to workforce diversity as an important component of organizations, to which they have to respond in a way by managing diversity within the workplace to get maximum benefits out of it (Lauring, 2012). Managing diversity is important not just because it results in organizational effectiveness; it also helps in maintaining market share, goodwill and ultimately profitability. There are many studies that contradict the subject, i.e. the essence and necessity of managing diversity at the workplace. Some collectives think that it is not important to manage diversity at the workplace because it won't affect the functioning of the business and business can do without it, while some think that it is inevitable in today's scenario for the organizational success (Mayer, Warr & Zhao, 2018). In this case, where there are more advantages than negatives of diversity management in business which is also evident in case of CERA; for guiding the staff members in a correct direction, we should focus on the rationale on which businesses adopt diversity management as an inevitable practice. This study will explain the reasons of the essence for the concept of diversity management for an organization and the results it can achieve through its application.
Diversity Management (DM)
As already mentioned, businesses today cannot work without managing the diverse workforce available due to globalization. The process contributes significantly to the progress of business, helps in establishing a talented pool of employees; provide competitive edge along with increasing profit share of the business (Bebbington & Özbilgin, 2013). We can define the term as ‘a process which is targeted towards creating and maintaining such a work climate which is conducive and appreciate the differences of various employees working together in the organization’. As far as the literature on the subject is concerned, major focus has been on factors such as openness in the workplace, company culture, policies of HRM in business, external and internal business environment, and the scope of business to challenges of diversity, expectations, need of diversity management and rewards, issues related to the practice of diversity management and its consequences. Experts and field researchers have given importance to the positive management of diversity in business administration, for which the basic logic and argument presented is that, diversity in staff members, if administered properly, can make a path for the establishment of such work team of members who would be more dedicated towards the organizational mission and vision, better delighted with work, participative and motivated in contributing towards the achievement of organizational goals.
The rationale for Diversity Management
The process and practice of diversity management have gained more importance nowadays due to the requirement of dealing with the demographically diverse employees who are imparted with so much talent that is derived from various social, cultural, religious, national, economic backgrounds (Amaram, 2011). Many experts try to oppose this importance and process of diversity management, but they have not been able to deteriorate the supporters of the successful process. The supporters argue that no business can be successful in today’s globalized economy without hiring globally diverse workforce and binge on the huge opportunities available due to world liberalization and globalization. More than this, certain reasons for businesses adopting diversity would be the fact which says that it becomes important to manage diversity in businesses with the emergence of shifting demographic components (Lauring, 2012). Different organizations have achieved different results by applying various practices of diversity management. Many experts have stated the need for some more development in the theory of the concept DM. These logics state that the concept of DM is getting popular in the economic world slowly and steadily due to its important role and the rising need to manage varied talent in the businesses that differ in origins of culture, region or ideologies (Ozgen, Nijkamp & Poot, 2015). It should be noted that the international companies should primarily focus on bringing about unity and consistency within the team that is diverse in different terms and make them contribute to the procedure...