MGHD27H3 Study Guide - Employee Benefits

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coralrhinoceros211

1 Jun 2011

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Document Summary

Chapter 3 diversity, culture, and values: 84-109. Person perception and workforce diversity: workforce diversity: differences among recruits and employees in characteristics such as gender, race, age, religion, cultural background, physical ability, or sexual orientation. Valuing diversity: diversity and its proper management can yield strategic and competitive advantages. Potential for improved problem solving and creativity and improved recruiting and marketing when the firm"s human resources profile matches that of the labour pool and customer base. Competitive advantages to valuing and managing a diverse workforce: cost argument, resource-acquisition. As organizations become more diverse, the cost of a poor job in integrating workers will increase. Those who handle this well will thus create cost advantages over those who don"t. Companies develop reputations on favourability as prospective employers for women and ethnic minorities. Those with the best reputations for managing diversity will win the competition for the best personnel. As the labour pool shrinks and changes composition, this edge will become increasingly important.

Related Questions

1. Which of the following is a reason that training and development are key ingredients to the competitiveness of firms? a) Rapid change e.g. technology, requires employees continually learn new skills b) The new psychological contract has created the expectation that employees invest in their own career development c) Growing reliance on teamwork creates a demand for the ability to solve problems in teams d) Diversity and globalization require that employees be able to work well with people who are different from them e) All of the choices are correct

Checking the competitive advantage potential of cross-business strategic fit involves:

A) evaluating a diversified company's profitability relative to competitors.

B) examining a company's costs relative to the costs of its chief rivals in the industry.

C) determining if there are opportunities to exploit outsourcing opportunities by a diversified company's lineup of businesses.

D) considering what competitive value can be generated from a strategic fit.

E) evaluating how much benefit a diversified company can gain from cross-business value chain matchups and resource sharing.