Discussion Reply 1:
Please read the following discussion Question and write a reply (120 words)
Hi Syed, great post!
I agree that the increase in globalization has caused an increase in a nations diversity and the diversity of its workforce respectively. I personally think a diverse workforce allows for new perspectives, ideas and experiences to be brought into the company, which can help further their competitive advantage. Furthermore, a more diverse workforce will directly force top management to adjust and shape their culture to reflect the values & beliefs of their employees collectively.
In your opinion, how can management shape their organization's culture in response to an increasingly diverse workforce? Do you think doing it will provide benefits to the organization or is it just another added cost?
Discussion Reply 2:
Please read the following discussion thread and write a reply (130 words)
Two of the biggest factors affecting organizations and their leaders ability to manage and adapt to change is technological advances and globalization of markets. Technological advances have been rapidly increasing throughout the years, which is directly affecting & increasing the globalization of markets. Tech advances such as increases in transportation efficiency & cost reductions allow the world markets to easily integrate with each other, reducing the cost of exports & imports respectively. Technological advances directly force leaders to adapt and integrate new technologies to maintain their competitive advantage. A great example of a new innovative company integrating technology is Airbnb, the online bed & breakfast platform. They integrated the new cloud technology suite that other major tech companies use - Microsoft, Nextflix & Salesforce as examples. This vastly reduced their costs and allowed them to quickly again market share above their competitors such as large hotel chains. "The company, which boasts nearly 5 million lodging options across 81,000 cities in the world, was reportedly valued at $31 billion during its last round of funding in March 2017." (Team, 2018). Furthermore, they have achieved and retained the #1 spot in market capitalization in the industry, surpassing large hotel chains & other companies within the accommodation industry. Airbnb is also a great example of the globalization of markets, allowing them to provide their service worldwide through their online platform. Companies can grow further within the international market by expanding their services internationally. Leaders must understand this and adapt their business to offer their products & services outside of their country's borders. If they don't, then someone else will and they will lose any competitive advantages they have built. Airbnb can easily expand their offering because they are an online only platform - this represents an advantage that cannot be achieved by physical hotel chains. Through strong leadership, innovation, creativity and adaptation, Airbnb was able to grow quickly and develop into a successful organization.
2.Leaders can maintain their effectiveness in response to the changing world economy by increasing change within the organization. There are a couple of important ways Airbnb and other organizations can influence change within their company; use their networks to gain new perspectives and by creating dialogue, experiences & emotion. Large organizations can have many business partners and various departments within their own organization, which can provide them with new perspectives to think about and find new ways to improve the company. Different departments experience their own problems and concerns due to the changing world economy, sometimes issues that top management has not yet found out about. By discussing between boundaries, new perspectives can be gained to further the company's advantage within their industry. Also, to inspire change, leaders need to create and have conversations that inspire change and moves reaction to actions. Having meetings where ideas are shared and listened to is a great way to influence change. Common themes can be found through several meetings, then these themes can be implemented into action.