The challenge of managing diverse teams Assignment

The challenge of managing diverse teams - Assignment Example ing a socially responsible and fair image for a brand, ensuring greater productivity and efficiency and creation of new business opportunities and encouraging higher flexibility and better creativity among the workforces (Loysk, 2001). Other ancillary benefits of embracing diversity in workplaces are the strengthening of the public diversity reputation of the company, improving the image of the company in the minds of the conscious customer groups and enhancing the team and departmental decision making processes by enabling the generation and accession of varied idea sources. The main challenges associated with building and maintaining a diverse workforce include high investments for ensuring efficient diversity management, reducing conflicts among the employees from different backgrounds, controlling and managing prejudices and negative attitudes towards co workers from different backgrounds, promoting effective communication and transparency within all levels of the organization and providing sufficient resources and assets towards the continuous development and management of the heterogeneous groups of employees (Clutterbuck and Ragins, 2002). The ability to develop and manage a diverse workforce groups is highly significant for the retail industry. This is because the retail industry is a multi layer industry with high levels of concentration, competition and inherent complexities associated with the way this industry functions. As such, the human resources of the company are the most valuable knowledge assets of companies operating in this industry. Since, there are many employment opportunities and options available to the employees working in retail companies, therefore, it is important for the comparison to take suitable steps to ensure that they are able to manage diversity, reduce discrimination and create a fair and just place of work for the employees. This helps to increase the competitiveness of the individual retail companies by retaining the