Effective Performance in a Diverse Marketplace
Leaders who participate in international business engagements learn about their strengths and weaknesses and develop critical leadership skills that allow them to understand and appreciate other cultures. Within international business settings, leaders learn from others by sharing ideas and different perspectives necessary to innovatively solve problems and competitively conduct business in the global arena. Understanding diversity enhances a leader’s conflict resolution, listening, interpersonal, decision-making, and problem-solving skills. Globalization has allowed organizations to capitalize on their diverse workforces to seek alternate ways to remain competitive. Organizations that embrace diversity may gain competitive advantages over organizations that do not.
For this week’s assignment, consider how understanding diversity in global settings leads to effective performance.Submit a report that includes responses to the following:
What is cultural diversity and what are some of the challenges associated with it when engaging in international business activities?
What are the potential benefits of cultural diversity? How can multinational companies gain a competitive advantage or a marketing edge by embracing cultural diversity as a major strategic initiative? Use an example to illustrate your point.
Assess the role that international leaders play to ensure that an organization maintains a systematic, ongoing diversity program.
Analyze at least three methods to increase the number of women leaders in international leadership roles.