Current Events in Business

Anonymous
timer Asked: Feb 19th, 2019
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Question Description

Hello, I need help writing one page reports about current event in business. the one page should 1) summarize the article selected, 2) evaluate its significance. Try to relate the event to the material from chapter 5(attached)

current event articles must be from one of the following periodicals: Business Week, Forbes, Fortune, The New York Times, The Wall Street Journal and The Financial Times

Management Fourteenth Edition Chapter 5 Managing Diversity Copyright © 2018, 2016, 2014 Pearson Education, Inc. All Rights Reserved Learning Objectives 5.1 Define workplace diversity and explain why managing it is so important. Develop your skill at valuing and working with diverse individuals and teams. 5.2 Describe the changing workplaces in the United States and around the world. 5.3 Explain the different types of diversity found in workplaces. 5.4 Discuss the challenges managers face in managing diversity. 5.5 Describe various workplace diversity management initiatives Know how to find a great sponsor/mentor and be a great protégé Copyright © 2018, 2016, 2014 Pearson Education, Inc. All Rights Reserved What is Workplace Diversity? Workforce diversity: the ways in which people in an organization are different from and similar to one another Copyright © 2018, 2016, 2014 Pearson Education, Inc. All Rights Reserved Exhibit 5-1 Timeline of the Evolution of Workforce Diversity Timeframe Events 1960s to 1970s Focus on complying with laws and regulations: Title VII of Civil Rights Act; Equal Employment Opportunity Commission; affirmative action policies and programs Early 1980s Focus on assimilating minorities and women into corporate setting: Corporate programs developed to help improve self-confidence and qualifications of diverse individuals so they can “fit in” Late 1980s Concept of workforce diversity expanded from compliance to an issue of business survival: Publication of Workforce 2000 opened business leaders’ eyes about the future composition of workforce—that is, more diverse; first use of term workforce diversity Late 1980s to Late 1990s Focus on fostering sensitivity: Shift from compliance and focusing only on women and minorities to include everyone; making employees more aware and sensitive to the needs and differences of others New Millennium Focus on diversity and inclusion for business success: Workforce diversity seen as core business issue; important to achieve business success, profitability, and growth Exhibit 5-1 illustrates a historical overview of how the concept and meaning of workforce diversity has evolved. Copyright © 2018, 2016, 2014 Pearson Education, Inc. All Rights Reserved Types of Diversity • Surface-level diversity: Easily perceived differences that may trigger certain stereotypes, but that do not necessarily reflect the ways people think or feel • Deep-level diversity: Differences in values, personality, and work preferences Copyright © 2018, 2016, 2014 Pearson Education, Inc. All Rights Reserved Why is Managing Workplace Diversity So Important? • People management • Organizational performance • Strategic Copyright © 2018, 2016, 2014 Pearson Education, Inc. All Rights Reserved Exhibit 5-2 Benefits of Workforce Diversity People Management • Better use of employee talent • Increased quality of team problem-solving efforts • Ability to attract and retain employees of diverse backgrounds Organizational Performance • Reduced costs associated with high turnover, absenteeism, and lawsuits • Enhanced problem-solving ability • Improved system flexibility Strategic • Increased understanding of the marketplace, which improves ability to better market to diverse consumers • Potential to improve sales growth and increase market share • Potential source of competitive advantage because of improved innovation efforts • Viewed as moral and ethical; the "right " thing to do Exhibit 5-2 shows the three main categories of workforce diversity benefits: people management, organizational performance, and strategic. Copyright © 2018, 2016, 2014 Pearson Education, Inc. All Rights Reserved The Changing Workplace: Characteristics of the U.S. Population • Total population of the United States • Racial/ethnic groups • Aging population Copyright © 2018, 2016, 2014 Pearson Education, Inc. All Rights Reserved Exhibit 5-3 Changing Population Makeup of the United States Group 2015 2050 Foreign-born 14% 19% Racial/ethnic groups blank blank White* 72% 47% Hispanic 12% 29% Black* 12% 13% Asian* 4% 9% * = Non-Hispanic blank blank American Indian/Alaska Native not included. blank blank Copyright © 2018, 2016, 2014 Pearson Education, Inc. All Rights Reserved What About Global Workforce Changes? • Total world population • Aging population Copyright © 2018, 2016, 2014 Pearson Education, Inc. All Rights Reserved Exhibit 5-4 Global Aging: How Much Do You Know? 1. True or False: At age 65, life expectancy is expected to be an additional 20 years. 2. The world’s older population (60 and older) is expected to change from 841 million in 2013 to ______ people in 2050? a. decrease to 500 million b. decrease to 750 million c. increase to 1.5 billion d. increase to 2 billion 3. Which of the world’s continents has the highest percentage of older people (age 60 or older)? a. North America b. Latin America c. Europe d. Asia 4. True or False: The worldwide median age was 27 in 2015. 5. Which country had the world’s highest percentage of older people in 2013? a. Sweden b. Japan c. China d. Italy Exhibit 5-2 shows the three main categories of workforce diversity benefits: people management, organizational performance, and strategic. Copyright © 2018, 2016, 2014 Pearson Education, Inc. All Rights Reserved Exhibit 5-4 Global Aging: Answers Answers to quiz: 1. True. At age 60, people worldwide can expect to live an additional 20 years. That number is smaller in least developed countries (17 years) and higher in more developed countries (23 years). According to the United Nations, African countries and Asian countries (excluding Japan) are examples of least developed countries. The United States and Sweden are examples of more developed countries. 2. d. The number of older people is expected to be approximately 2 billion people in 2050. 3. c. Four of the top five countries with the greatest percentage of older people (age 60 or older) are located on the European continent: Italy (26.9%), Germany (26.8%), and Bulgaria and Finland (26.1%). 4. False. The worldwide median age was estimated to be about 30 in 2015. That age was 24 in 1950, and it is expected to reach 36 by 2050. 5. b. Japan, with 32 percent of its population aged 60 or over, has supplanted Italy as the world’s oldest major country. Exhibit 5-2 shows the three main categories of workforce diversity benefits: people management, organizational performance, and strategic. Copyright © 2018, 2016, 2014 Pearson Education, Inc. All Rights Reserved Exhibit 5-5 Types of Diversity Found in Workplaces Exhibit 5-5 shows several types of workplace diversity. Copyright © 2018, 2016, 2014 Pearson Education, Inc. All Rights Reserved Workforce Diversity: Age and Gender • Age: Both Title VII of the Civil Rights Act of 1964 and the Age Discrimination in Employment Act of 1967 prohibit age discrimination • Gender: Women (49.8%) and men (50.2%) now each make up almost half of the workforce Copyright © 2018, 2016, 2014 Pearson Education, Inc. All Rights Reserved Workforce Diversity: Race and Ethnicity • Race: the biological heritage (including skin color and associated traits) that people use to identify themselves • Ethnicity: social traits (such as cultural background or allegiance) that are shared by a human population Copyright © 2018, 2016, 2014 Pearson Education, Inc. All Rights Reserved Workforce Diversity: Disability/Abilities and Religion • Disability/abilities: the Americans With Disabilities Act of 1990 prohibits discrimination against persons with disabilities. • Religion: Title VII of the Civil Rights Act prohibits discrimination on the basis of religion Copyright © 2018, 2016, 2014 Pearson Education, Inc. All Rights Reserved Exhibit 5-6 Employers’ Fears About Disabled Workers Exhibit 5-6 describes some of employers’ unfounded fears about hiring disabled workers. Copyright © 2018, 2016, 2014 Pearson Education, Inc. All Rights Reserved Workforce Diversity: LGBT and Other Types of Diversity • LGBT: in two separate U.S. Supreme Court cases, the justices held that transgendered (gender identity) and lesbian, bisexual, and gay (sexual orientation) individuals were protected under Title VII’s prohibition against sexual discrimination • Other types of diversity: diversity refers to any dissimilarities or differences that might be present in a workplace Copyright © 2018, 2016, 2014 Pearson Education, Inc. All Rights Reserved Challenges in Managing Diversity: Personal Bias • Bias: a tendency or preference toward a particular perspective or ideology • Prejudice: a preconceived belief, opinion, or judgment toward a person or a group of people Copyright © 2018, 2016, 2014 Pearson Education, Inc. All Rights Reserved Challenges in Managing Diversity: Stereotyping and Discrimination • Stereotyping: judging a person based on a perception of a group to which that person belongs • Discrimination: when someone acts out their prejudicial attitudes toward people who are the targets of their prejudice Copyright © 2018, 2016, 2014 Pearson Education, Inc. All Rights Reserved Exhibit 5-7 Forms of Discrimination Types of Discrimination Definition Examples from Organizations Discriminatory policies or practices Actions taken by representatives of the organization that deny equal opportunity to perform or unequal rewards for performance Older workers may be targeted for layoffs because they are highly paid and have lucrative benefits. a Sexual harassment Unwanted sexual advances and other verbal or physical conduct of a sexual nature that create a hostile or offensive work environment Salespeople at one company went on company-paid visits to strip clubs, brought strippers into the office to celebrate promotions, and fostered pervasive sexual rumors. b Intimidation Overt threats or bullying directed at members of specific groups of employees African American employees at some companies have found nooses hanging over their work stations. c Mockery and insults Jokes or negative stereotypes; sometimes the result of jokes taken too far Arab Americans have been asked at work whether they were carrying bombs or were members of terrorist organizations. d Exclusion Exclusion of certain people from job opportunities, social events, discussions, or informal mentoring; can occur unintentionally Many women in finance claim they are assigned to marginal job roles or are given light workloads that don’t lead to promotion. e Incivility Disrespectful treatment, including behaving in an aggressive manner, interrupting the person, or ignoring his or her opinions Female lawyers note that male attorneys frequently cut them off or do not adequately address their comments. f Copyright © 2018, 2016, 2014 Pearson Education, Inc. All Rights Reserved Glass Ceiling • Glass ceiling: the invisible barrier that separates women and minorities from top management positions Copyright © 2018, 2016, 2014 Pearson Education, Inc. All Rights Reserved The Legal Aspect of Workplace Diversity • Workplace diversity needs to be more than understanding and complying with federal laws Copyright © 2018, 2016, 2014 Pearson Education, Inc. All Rights Reserved Exhibit 5-8 Major Equal Employment Opportunity Laws Year Law or Ruling Description 1963 Equal Pay Act Prohibits pay differences for equal work based on gender 1974 (amended in 1972) Civil Rights Act, Title VII Prohibits discrimination based on race, color, religion, national origin, or gender 1967 (amended in 1978) Age Discrimination in Employment Act Prohibits discrimination against employees 40 years and older 1973 Rehabilitation Act Prohibits discrimination against a qualified person with a disability in the federal government as well as retaliation against a person who complained about discrimination 1978 Pregnancy Discrimination Act Prohibits discrimination against women in employment decisions on the basis of pregnancy, childbirth, and related medical decisions 1990 Americans with Disabilities Act Prohibits discrimination against individuals who have disabilities or chronic illnesses; also requires reasonable accommodations for these individuals 1991 Civil Rights Act of 1991 Reaffirms and tightens prohibition of discrimination and gives individuals right to sue for punitive damages 1993 Family and Medical Leave Act Gives employees in organizations with 50 or more employees up to 12 weeks of unpaid leave each year for family or medical reasons 2008 Genetic Information Nondiscrimination Act Prohibits discrimination against employees or applicants because of genetic information (one’s own or family members’ genetic tests) 2009 Lilly Ledbetter Fair Pay Act Changes the statue of limitations on pay discrimination to 180 days from each paycheck Copyright © 2018, 2016, 2014 Pearson Education, Inc. All Rights Reserved Mentoring • Mentoring: a process whereby an experienced organizational member (a mentor) provides advice and guidance to a less experienced member (a protégé) Copyright © 2018, 2016, 2014 Pearson Education, Inc. All Rights Reserved Exhibit 5-9 What a Good Mentor Does Exhibit 5-9 looks at what a good mentor does. Copyright © 2018, 2016, 2014 Pearson Education, Inc. All Rights Reserved Diversity Skills Training • Diversity skills training: specialized training to educate employees about the importance of diversity and to teach them skills for working in a diverse workplace Copyright © 2018, 2016, 2014 Pearson Education, Inc. All Rights Reserved Employee Resource Groups • Employee resource groups: groups made up of employees connected by some common dimension of diversity Copyright © 2018, 2016, 2014 Pearson Education, Inc. All Rights Reserved Review Learning Objective 5.1 • Define workplace diversity and explain why managing it is so important. – Workplace diversity is the ways in which people in an organization are different from and similar to one another – Why it’s important: ▪ People management benefits ▪ Organizational performance benefits ▪ Strategic benefits Copyright © 2018, 2016, 2014 Pearson Education, Inc. All Rights Reserved Review Learning Objective 5.2 • Describe the changing workplaces in the United States and around the world. – United States ▪ Total increase in population ▪ Changing components of racial/ethnic groups ▪ An aging population – The world: ▪ Total world population ▪ Aging of that population Copyright © 2018, 2016, 2014 Pearson Education, Inc. All Rights Reserved Review Learning Objective 5.3 • Explain the different types of diversity found in workplaces. – – – – Age (older workers and younger workers) Gender (male and female) Race and ethnicity (racial and ethnic classifications) Disability/abilities (people with a disability that limits major life activities) – Religion (religious beliefs and religious practices) – Sexual orientation and gender identity (gay, lesbian, bisexual, and transgender) – Other (e.g., socioeconomic background, physical attractiveness, obesity, job seniority, etc.) Copyright © 2018, 2016, 2014 Pearson Education, Inc. All Rights Reserved Review Learning Objective 5.4 • Discuss the challenges managers face in managing diversity. – Bias is a tendency or preference toward a particular perspective or ideology – Prejudice, which is a preconceived belief, opinion, or judgment toward a person or a group of people – Glass ceiling refers to the invisible barrier that separates women and minorities from top management positions Copyright © 2018, 2016, 2014 Pearson Education, Inc. All Rights Reserved Review Learning Objective 5.5 • Describe various workplace diversity management initiatives. – Some of the federal laws on diversity include: ▪ Title VII of the Civil Rights Act ▪ The Americans with Disabilities Act ▪ Age Discrimination in Employment Act – Workplace diversity initiatives to diversity include mentoring, diversity skills training, and employee resource groups Copyright © 2018, 2016, 2014 Pearson Education, Inc. All Rights Reserved Copyright Copyright © 2018, 2016, 2014 Pearson Education, Inc. All Rights Reserved

Tutor Answer

bilhamay
School: Carnegie Mellon University

thank you for working with me

Running Head: CURRENT EVENTS

1

Current Events in Business
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CURRENT EVENTS

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The business world is quite dynamic. One aspect in business that has been evolving is
workforce diversity. In the 1980’s for instance, the focus was on equal employment opportunities
and assimilation of women and minorities into the workforce. Today workforce diversity is more
comprehensive and it focuses on integrating workforce tohigher levels.Many companies and
organizations are now hiring employees from diff...

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Anonymous
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