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Managing people - Assignment 1 - BATuan - v1

Managing people - Assignment 1 - BATuan - v1 - RMIT...

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RMIT University Graduate School of Business Master of Business Administration BUSM 3250: Managing People, Relationship, Performance Assignment 1 MANAGING DIVERSITY FOR BETTER BUSINESS RESULTS Course lecturer: Elizabeth Erasmus Student name: Tuan Anh Bui Student number: 314 7096 Campus: RMIT Hanoi Hanoi, 30 November 2006 Page 1 of 8
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Managing People, Relationship and Performance Managing Diversity for Better Business Results _________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________ Introduction Several researchs conducted by Jim Collins and Jerry Porras, Arie de Geus, and Richard Barrett have come up to an universal findings on what led to outstanding business success was people, people and people. These researchers went so far as to say that when companies concentrate on product, profit or strategy ahead of building the community spirit and culture, then they can expect to fail 1 . In this regards, managers across all organizations nowadays are finding it hard to “recruit and retain the best people” , especially when companies are recognizing how important the people factor plays in the business success, they have entered into the so-called “talent war” to find the best people for its businesses 2 . Managers also recognize that it is very costly to recruit a person for the job and two or three months later, have to engage into the recruitment process all over to find a replacement due to the resignation of the other (due to various reasons such as expectation gaps). Thus, retaining, or managing people, could be the more challenging and time consuming tasks of them all. Managing people, by any means, is never a simple task since all humans are different. Such differences might arise as a result of the different perception, attitude, value and personality of the staff, or the difficult cultures/backgrounds that the staff comes from, or simply a generational difference. Such differences, if not properly managed, could destroy the organizational cohesion and ultimately disarray the business from its core objectives. For the purpose of this paper, the author will (i) provide an overview of the challenges that managers face when dealing with individual differences and diversity in a business context, (ii) analyse a real life scenario to identify the strategies an organization applies in dealing with such challenges and (iii) express his comment/recommendations on how such strategies could be further improved. Individual differences and diversity – the challenges to managers No human being is the same and we have to accept that. Each of us has a different set of values, perceptions, attitudes and personalities, which are built based on our own individual characteristics such as our age, ethnic origin, gender, nationality, education and income, religion and cultures, etc. Such differences might come from: Cultural diversity Huntington has created a hypothesis that “the fundamental source of human conflict in this new world will not be primarily ideological or primarily economic. The great divisions among humankind and the dominating source of conflict will be culture” 3 . This statement could
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