However the rapid growth in importance of diversity does not coincide with more favourable conditions being bestowed onto minorities within organisations. There has been great scrutiny over which possesses the greater benefits in the struggle to manage diversity within a firm, the business case or increased legislation by government. Each individual strategy has its strengths, weaknesses and advocates. The business case sees managing diversity as a sensible business proposition whilst the contrary party see it as an ethical or social issue. Do companies feel ethically responsible to treat all their employees with integrity or are they more concerned with preventing government legislation in the area.
Although capitalist societies are often favored over other economic systems such as systems of the Weyewa and Gabra, these systems work well in there societies and show that wealth is more than just money or possessions. These societies calculate wealth in response to social ties. If one is rich , they are able to call on a lot of other people and know those people will respond. Here a economy of people are favored over an economy of possessions. Living in a society (the United States) where the opposite happens puts your mind in very different type of perspective.
Some other political factors of concern are political stability, industrial limitations and business standards. FedEx is successful in serving the world because it strictly abides by all relevant laws. Economic Factors * Inflation, exchange rates and interest rates are economic factors taken into consideration, for they have the potential to distress consumers. Depression in the market affects the financial assets of the company. It's both a positive and a negative for FedEx that it provides services around the world, since it must respond to varying economic factors as a result.
There are many firms and ease of entry with low barriers and exit costs. Thus in the long run profits tend towards normal as new firms enter if there are high short run profits. There is product differentiation with each firm making a slightly different good or service. We are loyal to our hairdresser or garage, or prefer the local shop even with higher prices as its service is its nearby and stays open late. Each firm has a small degree of monopoly power because of product differenciation.
Having a focused-cost strategy means that the goods and services are aimed at a special type of consumer whose offerings cost less than competitors. A focused-differentiation strategy is aimed at a special section of the market that caters to the customers’ tastes and what the customers are looking for better than the competition. The best-cost provider gives customers “more value with average to above-average quality compared to the quality of the competition’s product (Thompson, 2012). The low-cost provider strategy aims at a spacious section of the market at right angles to the competitors and charges an overall less cost than competitors. The quality of the goods are acceptable to consumers and there are few frills.
2) The five criteria are weighted equally, which means the company value equally to the five different aspects. But the truth is, THTF values performance more than any other aspects. This will result in confusion when communicating to employees. THTF can emphasize less on obedience and discipline and weight more about performance and knowledge part, which can help employees understand what is expected of them. 3) The results of performance evaluation is not linked with THTF’s incentive system.
American companies such as Apple and Wal-Mart are infamous for utilizing foreign sweatshops for manufacturing their products. Nonetheless, human resources cultural professionals and enthusiasts like Geert Hofstede have presented theories and models which summarize the differences in business culture from country to country. “According to Hofstede, cultures differ in at least five different ways that may have important implications for understanding business. The five dimensions are: individualism versus collectivism, power distance, avoidance of uncertainty, masculinity, and long term versus short term orientation.” (Ivancevich & Konopaske, 2013) Concerning power distance, the Chinese people believe that inequality is acceptable. They hold a strong
Power Distance Power Distance is the level of acceptance by a society of the unequal distribution of power in institutions. To understand this concept you have to understand the extent in which each subordinate accepts unequal power. For example stating what Hofstede mentions about the United States he says, “The United States score low on this dimension (40) which underscores the American premise of “liberty and justice for all.” This is also evidenced by the focus on equal rights in all aspects of American society and government. Here we see that hierarchy is established for convenience and it is stated that managers should be available and accessible to the subordinates. Specifically information is shared
These broad gender roles and expressions of masculinity and femininity has been carried over huge periods of time and remains relatively unchanged, and individuals would generally follow these roles to make themselves a better fit into the workplace, and society as a whole. Certain types of workplace is better complimented by gender expressions than others, an insurance position favours more ‘manly’ presentation while a waitress spot may favour a more feminine approach. In some workplaces a specific gender can even perform and review better due to the presentation of the ‘self’ and hence differ in how they are perceived, ‘For example, it has been found that woman nurses were better received and considered to be doing a better job by patients than their men colleagues (Hartman et al. 1988)’ (page 732). In a waitress/serving staff setting, the waitress often adjusts her presented gender so that it conforms to the social expectations of the profession.