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Indeed, Corporate Social Responsibility And A Company's Associated Image Are ...

Indeed, corporate social responsibility and a company's associated image are often a primary consideration for prospective recruits, customers, partners and investors, and diversity statements, backed up by facts, are increasingly demanded by all stakeholders in a business. The presence of strong diversity policies and evidence to support these can generate additional capital, sales, employment applications and job satisfaction, all of which are vital for a business wishing to expand in Europe, as Briggs is.
Studies of the drivers towards diversity, the strategic responses to the diversity challenge, and the stages of diversity management indicate a large variation in the existing diversity strategies and drivers for change across Europe, with UK companies promoting diversity management most vigorously (Clements and Jones, 2006). However, from the diversity statements of the top European multinational companies, the main drivers for diversity and diversity management can be seen to be increasing performance and motivation; enhancing corporate image and reputation; and meeting stakeholder needs. As a result, the majority of companies in Europe and globally, are now moving from initially ignoring diversity altogether, to promoting diversity in order to obtain sustained competitive advantage and multicultural organisational learning, which are key considerations in the modern business environment (Mor Barak, 2005)

Indeed, there are several major changes in the modern business environment that have led to a need to manage and promote diversity. Firstly, accelerating competition due to globalisation means that companies must now look to use every advantage available to them in order to compete to the best of their ability (Kirton and Green, 2005). Failure to embrace diversity at all levels across the workforce will reduce the level of organisational learning and exposure to new working practices experienced by a company. As a result, they will likely fall behind their competitors who are open to learning and using these practices, rather than drawing ahead of said competitors by embracing and managing them. Equally, restructuring following the recent recession in the world economy has led to businesses diversifying their workforce, markets and strategy in order to reduce their exposure to certain sectors of the global markets (Mujtaba, 2006). A diverse workforce and management team will be better able to see and judge all opportunities available to the company, and act accordingly to take advantage of them in all market conditions whilst a traditional company with a narrow focus risks losing its core market due to changes in the global economy.
A further consideration is that the United Kingdom has now adopted several significant pieces of legislation prohibiting discrimination in employment.

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