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Submitted by: Vaibhav Gupta
Executive Summary:
We’ve looked at the challenges that Indian companies face because of diversity, both at the workplace and the marketplace. We’ve also seen the ways companies can use, to not only manage existing diversity but also to promote it and gain a competitive advantage in the market. Probably, the most important aspect that comes out from the study is that diversity is finally all about human beings, and how they differ from each other. Any company that understands its key stakeholders well – its employees, its shareholders, its partners and most importantly, its customers, can thrive in the most diverse of environments.
“The next time some academics tell you how important diversity is, ask how many Republicans there are in their sociology department” - Thomas Sowell
INTRODUCTION:
Diversity in the context of an Indian Business Organization
The objective of this article is twofold. Firstly it tries to identify the various elements of diversity, as it exists in a modern Indian Business corporation. Secondly it looks at the methods that the companies can employ, not only to understand and cope with the diversity but also to leverage it towards building wholesome business relationships. Diversity in many ways is closely connected to another term that we see commonly used today, which is ‘Change’. Managing diversity is an essential part of change management. If Indian companies have to thrive in today’s changing global marketplace, it has to learn to manage diversity, both within the company and without.
The two Realms of Diversity at India Inc
Diversity exists in two key realms in an Indian Business Organization; the first is at the workplace and involves the employees of the company. The second is at the marketplace and involves the interaction of the company with three groups of stakeholders- the owners, the partners and the
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