STRATEGIC PLANNING

Strategy for gaining Competitive Advantage through Managing Cultural Diversity in an Organization

Strategy for gaining Competitive Advantage through Managing Cultural Diversity in an Organization

Introduction

Hospitality industry is one of the most important industries for an economy. It helps the country in earning huge revenues by expanding and improving its visiting areas. Furthermore, the country can also make sure that the steps that are being taken for the improvement of the industry are in favor the country, as well. Hospitality industry ensures that the country earns in such a manner which will help the people in understanding as to how the industry works for the betterment of the organization. Furthermore, it should also be made sure by the government that the right steps and measures are implemented for the betterment of the industry and it should plan as to how operations should be carried out in the industry.

There are cases when companies and organizations operating in an industry have a culturally diverse workforce. In such situations, companies will have to make sure that they manage their workforce in an effective manner which will prove to be helpful for the business and will also ensure that the right strategies are formulated and implemented so that the companies can work in a successful manner. This paper will present and analyze a strategy that will help companies in maintaining competitive advantage working with a cultural workforce. Leadership in such organizations will also be discussed.

Discussion

This part of the paper will discuss and analyze the strategy that is chosen by the companies operating in the hospitality industry. Companies working with a diverse workforce have to make sure that they develop strategies that will help in gaining success and in remaining a market leader in the industry.

Chosen Strategy

Strategies are formulated by the companies and businesses to make sure that they are able to operate in the most efficient manner and will also help the people in identifying as to how the business should work and how it should be able to able to make sure that the customers are satisfied with the services they are receiving. For companies working with a diverse workforce, it is essential that the retention rate in the company is high (Wheeler et.al, 2006, pp. 96-113). For this, the management should be able to formulate strategies that will help the employees in staying with the company. This can be done by providing the employees with the benefits and by helping them to plan their retirement by making use of the retirement plans offered by the company.

In addition to this, it should also be made sure that the right ways of adopting the retention strategies are practiced by the company. Working with a diverse workforce is a challenge and there arise many issues and challenges. Thus, it should be made sure that the management has the right solutions for the retention of the workforce. Working in a diverse organization has many benefits, as well for the company. People with different background have different thoughts and ...