Asian Journal of Research in Business Economics and Management
Year : 2014, Volume : 4, Issue : 7
First page : ( 197) Last page : ( 206)
Online ISSN : 2249-7307.

Workforce Diversity: A Source of Competitive Advantage

Kaur Supreet

Assistant Professor, Department of Commerce, Sri Guru Gobind Singh College of Commerce, University of Delhi, New Delhi, India

Online published on 5 July, 2014.

Abstract

In today's globalised world, people no longer live and work in an isolated marketplace rather the entire world has now become a “Global Village” where people from different culture, values, attitudes and beliefs come together and interact with each other. Organizations work in a national or an international context often requires full range of workforce from across the nations to satisfy their customers. Diversity provides organizations with the ability to compete in global market. Diversity is said to bring substantial potential benefits such as better decision making and improved problem solving, greater creativity and innovation, which leads to enhanced product development, and more successful marketing to different types of customers. Having a diverse workforce selected from across the world provides organizations with a source of competitive advantage. It creates a competitive edge over other cohesive societies. Workforce Diversity requires intermingling of people towards the objective of achieving higher growth. This paper is designed to analyze the concept of workforce diversity and how it can prove as a source of competitive advantage to the firm.

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Keywords

Competitive Advantage, Diversity, Global Village, Workforce Diversity.

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