Question

. What does the corporation gain from workplace diversity? and Why are fair trade products popular with consumers?

Answer 1

1. Workplace diversity:

Workplace diversity is including people with diverse backgrounds such as ethnicity ,gender,age , culture and countries--

such that diversity is inclusive management , recognising its very important role in attracting and retaining not only talents but also customer, clients and all other stakeholders, who feel represented in the company.

Following are only some of the enormous benefits of workplace diversity :

1.Increased productivity of the diverse workforce , all of whom feel safe, secure and wanted and work to their maximum , with utmost satisfaction, thus increasing the productivity of the company.

2.People coming from such diverse backgrounds , join hands in solving problems that may arise ,differently and efficiently, with each of their own line of thinking.

3. Diverse people working are able to attract not only diverse talents but also diverse customers & suppliers , with whom they are able to do better & profitable business , thus enhancing the overall profitability.

4. Employees remain more loyal , involved & aligned to the overall organisational goals.

5. Thus, they seek less of outside employment opportunities, reducing the employee turnover as also the costs of the frequent recruitment process.

6. A good variety of worker-skills with wider knowledge base becomes available to the company.

8.The company also benefits by various cultural backgrounds ,when it celebrates functions unique to that culture.

9. All the above enhance the company's overall public image & also the company's market share in the stock market --that will certainly maximise wealth to their shareholders.

In the light of all aforesaid,the current competetive scenario is such that any organisation that fails to recognise workplace diversity& inclusive management , runs the risk of decreased productivity, profitability & hence sustainability .

2. Fairtrade Products

Fairtrade labelling /certification is done to help farm producers , cerifying to their genuine-ness based on certain ethical criteria .

Consumers largely prefer fairtrade certified products for the following reasons:

1. Prices for these products are standardised & give value for the money spent by them , on criteria in which they believe.The products is more or less, what they are really worth.

2. The consumers are quite made known about the source of ingredients ,including water --also no genetically modified items or hazardous chemical fertilisers/pesticides have been used in their manufacture.

3. They are able to access locally produced /grown products at the earliest from the time of their harvest & also sure that they were not tested on animals or caused any harm to them.

4. They become knowledgable & are able to exercise their choice and preferences .

5. Also the consumers do not mind spending some extra dollars on fairtrade labelled items , as they are well aware that these premiums go for funding public/ local projects and to develop infrastructure facilities such as schools ,hospitals and sanitation projects.