Homework

Homework

Assignment #1

It is imperative for today's managers and administrators to understand the significance of their role in fostering globalization & multiculturalism in the world. The modernization and globalization of society bring many changes for international executives to lead. Among others, it leads to a differentiation of the values of individuals as well as cultural and organizational values. Therefore, in order to cope with such transformation, leaders must gain knowledge and fulfill competency requirements as a part of their personality. Managers and administrators are the source of opening new development opportunities. Managers today have an obligation to ensure that each of the activities of the company, essential to the creation of value, is carried out efficiently and effectively. All managers of one way or another involved in this process, however, the management of value creation focuses on the financial side (Allen, 2004).

With reference to globalization, managers have to be clear that investors not only seek rewards in the form of dividends and in the form of increased shareholder value, but also want growth prospects of the company in the long term, therefore, management is required to create value for investors. Managers should also be clear that the value depends only on what we expect to happen in the future and because there is no certainty what will happen in the future, they needs to take into account the risk factor and then create strategies to minimize them.

With globalization comes cultural diversification. Today a large number of multinational companies consist of workforce from all over the world. This factor can result in the contradiction of norms and values. In the 21st century, it is extremely important for managers to learn to manage the conflicts that result from diversity. The common concern for minority employees is the discrimination they face in the workplace because of gender, race/ethnicity, or sexual orientation. Because of these factors, many are not paid salaries equivalent to Whites and are not considered for promotions. This causes them to feel excluded from the organization, and they are less likely to work to full potential. As a result, the organization's productivity may decrease, and the likelihood that it will be sued for discrimination may increase.

Managing diversity is very difficult because it will require changes to the organization's culture. Managers must enforce the workplace's acceptance of diversity by reprimanding any employees who do not comply with the policies. Managers cannot force employees ...