Diversity in Global Business Environment

Introduction

The impact of global issues is continuously expanding. Global issues are major concern of governments and of business and industry, as well as a challenge to business educators who are in-charge of preparing students to thrive and compete successfully in a global economy. The idea of diversity might face certain challenges that need to be scrutinized before applying it into the global business world. Diversity can be in two situations, its either in business organization or on the customers’ needs which are definitely can create different impact and approach.

Global Diversity

Diversity affects the global business environment which is concerned with the economic systems, business practices, political and legal structures. The economic systems explain how resources are managed to satisfy human wants and needs. The system reflects globalization through differences in balance of trade and other trade issues, monetary structures, job employment, global relocation of workers and other related factors (Anderson, 2004).

Business practices are the functions of the areas of the business that are organized and managed. Practices in the areas of management, marketing, technology, accounting, and finance are more complex in global environment. Meanwhile, the political and legal structures impact the manner in which business is conducted.In a global environment, the lack of uniformity in those aspects affects the standards for business ethics, occupational health and safety, environmental protection, and access to education and career opportunities. Diversity also affects the values, attitudes, and beliefs; social and business customs, behaviors, and practices; language whether in written, oral, and nonverbal communication which are critical for success in the global business environment.

Diversity in a Workplace

Globalization is changing how businesses operate, including how they meet the needs of a changing workforce, find talent, create economic value, meet customer needs, and fulfill social responsibilities. Achieving successful results amid these new global business realities will require unprecedented levels of interaction between, and collaboration among, people of diverse cultures, religions, histories, and perspectives.

Increased workplace diversity will present valuable opportunities for divergent perspectives but will also create inclusion issues and interpersonal work team challenges. Both the opportunities and challenges must be managed astutely. HR practitioners must understand the global trends reshaping business, recognize the importance of managing diversity and inclusion issues in a global business environment, and manage these issues strategically for the benefit of the organization and its people (Meisinger, 2008).

Diversity on Needs

In responding to the diverse needs of the consumers in different parts of the world, the intense development and progress is much anticipated. Innovation can be the common ground of many businesses that can suffice to continuously open for the diversity and everything that is new. Having the ability to apply innovation in many areas, such as business models, processes, service offerings, and solution delivery affords the opportunity to navigate the global market (Gilson and Gilbert, 2007).

A business or an organization that can supply the demands or needs of different consumers is considered as a strategy. But if the business experienced a critical situation like calculating their expense twice than the other countries in which they offer similar products is a big problem. There are many reasons about this kind of problems, it can be in a form of the resources or the materials where the source or supplier is unavailable; close competition from other business firms; weak alternatives or substitutes; or minimization of the resources based on the law carried by the foreign country. To lessen the possibility of loss, companies tend to put their products on high prices or minimizing the production. Again, this kind of decision is triggered by the diversity and global competition.

Conclusion

The diversity is applicable in the needs of the consumers around the world. Therefore, the decision for diversity depends on how the market will accept the certain action, like the output of a firm that suits to the consumers’ tastes and preferences. But the diversity within the organization is a challenge that no one can identify the main root-cause. There are many things that a business should sacrifice it the organization wants to attain other option. They only have to choose wisely and with no regrets.

Works Cited:

Anderson, M., et al., 2004. This We Believe About Business Education in a Global Environment. The Policies Commission for Business and Economic Education, No. 74. [Online] Available at: http://www.nbea.org/curriculum/no_74.pdf. [Accessed 29 October 2009].

Gilson, J., & Gilbert, L., 2007. Innovation in a Global Business Environment. [Online] Available at: http://www.dowcorning.com/content/publishedlit/Innovation_Glo_Bus_Env.pdf. [Accessed 29 October 2009].

Meisinger, S., (Pres.) 2008. SHRM Leadership Summit on Diversity and Inclusion. [Online] Available at: http://moss07.shrm.org/hrdisciplines/Diversity/Articles/Documents/Leadership%20Summit%20Exec%20Summary%202008.pdf. [Accessed 29 October 2009].