Class of 2024TX
- "Effectively leveraging diversity to enhance competitive advantage in the global marketplace" with mentor David (Nov. 18, 2023)
Effectively leveraging diversity to enhance competitive advantage in the global marketplace
Started June 22, 2023
Abstract or project description
Maansi's research paper explores the crucial determinants and profound impacts of diversity in the context of global business, focusing on how organizations can strategically harness and manage diversity to bolster their competitive advantage in the ever-evolving global marketplace. Through an extensive literature review and empirical analysis, the study identifies key determinants of diversity, such as cultural, ethnic, gender, and cognitive differences, and highlights their significance in shaping organizational dynamics and performance. It investigates how diverse workforces foster creativity, innovation, and adaptability, leading to increased market responsiveness and a stronger international presence. Furthermore, the paper delves into the challenges and barriers that organizations encounter when implementing diversity initiatives, providing insights into effective management strategies that promote an inclusive and equitable corporate culture. By elucidating the relationship between diversity and competitive advantage, this research offers valuable recommendations for organizations seeking to navigate the complexities of the global business landscape and leverage diversity as a strategic asset. Organizations that prioritize diversity in global business by effectively leveraging and managing diverse talent will experience enhanced competitive advantage in the global marketplace due to improved innovation, decision-making processes, and broader market appeal.