Contents TITLE: “Managing cultural diversity and profit. A study on Marks & Spencer”...........................3 INTRODUCTION...........................................................................................................................3 Background of research..........................................................................................................3 Research Aim.........................................................................................................................3 Research objectives................................................................................................................3 Research question...................................................................................................................3 Research Hypothesis..............................................................................................................3 LITERATURE REVIEW................................................................................................................3 Concept of cultural diversity..................................................................................................3 Relationship between cultural diversity and profit.................................................................4 Ways to manage cultural diversity to increase profit of organisation....................................4 RESEARCH METHODOLOGY.....................................................................................................5 Research Philosophy..............................................................................................................5 Research Approach.................................................................................................................5 Research Strategy...................................................................................................................5 Research choice......................................................................................................................5 Data Collection and analysis..................................................................................................6 Sampling.................................................................................................................................8 Ethical considerations.............................................................................................................8 DATA COLLECTION AND ANALYSIS......................................................................................8 Data Analysis..........................................................................................................................8 Data Interpretation................................................................................................................10 RECOMMENDATIONS...............................................................................................................19 REFLECTION...............................................................................................................................19 CONCLUSION..............................................................................................................................20 REFERENCES..............................................................................................................................21 2
TITLE:“Managing cultural diversity and profit. A study on Marks & Spencer” INTRODUCTION Background of research Managing cultural diversity is a significant concept for organisation and is directly linked with its profit ratios. Cultural diversity brings various benefits to organisation like improved profits, maximize productivity, increase skills and talent etc.(Al-Jenaibi, 2017).All this assist in gaining competitive advantage in market. Marks and Spencer is a well-known company of United Kingdom which deals in clothing and food products. This study aims to assess the relationship between cultural diversity and profit of company. Research Aim The aim of this specific study is “To study the interrelationship between cultural diversity and profit. A study onMarks & Spencer.” Research objectives The objectives related to this study project is provided below: 1.Toreview literature on cultural diversity and profit. 2.To carry out a primary study on cultural diversity and profit. 3.To recommend how Marks & Spencer can manage cultural diversity to increase profit. Research question In context of this investigation, the research question is “What is the interlink between cultural diversity and profit?” Research Hypothesis The hypothesis associated with this research is “There is a significant interlink between cultural diversity and profit.” LITERATURE REVIEW Concept of cultural diversity As per the opinion presented by Thomas Smith, 2019, Cultural diversity can be defined as a group which contains diverse people who are from different religions, ethnicities, social economic status, genders, ages, nationalities, races and more. Cultural diversity exists when wide 3
variety of people are existing in the organisation. It is considered to be the underlying values which direct the way individuals behave. It is very important for organisation to maintain diverse workplace as it assist in encourage innovation within the organisation(Bendl, Hainzl, and Mensi-Klarbach, 2019). Apart from this, diverse employees enable the team members to appreciate differentiation of each other which help in learning more things. Existence of cultural diversity within the organisation depicts the values, equality and fairness of company which in turn improves its reputation in the market. In addition to this, cultural diversity helps in improving the productivity of company and leads it towards growth and success. Relationship between cultural diversity and profit As per the views presented by G.C. Martin, 2014, there is a positive relationship between cultural diversity and profit of company. With the help of cultural diversity, organisation will be able to gain competitive advantage in market and also able to accomplish high profits. If the organisation has diverse range of skills and talents in the workplace, it can be able to perform more effectively in the competitive market which ultimately help in improving the productivity and profitability of company(Butcher, 2016). As per the opinion of Karsten Strauss, 2018, Cultural diversity and profit have the direct link. It provides various benefits to organisation in terms of improved profits, enhance repetition of company, wide range of skills as well as it improves the cultural insights. However, if cultural diversity is not maintained properly in the organisation, it will lead to conflicts in opinions, miscommunication and other adverse impacts which in turn harms the productivity of organisation(Cachia, 2019). Ways to manage cultural diversity to increase profit of organisation As per the view point ofSyed, and Ozbilgin, 2019, there are several ways of managing cultural diversity in workplace. One of the ways to ensure hiring of employees with diverse backgrounds. This will help in maintaining adequate skills and talent within the workplace which inturnhelpcompanyinattainingcompetitiveadvantageinmarketandimprovingits profitability. Another way to manage cultural diversity is developing cross cultural teams. This will help in ensuring completion of task in an effective way as when diverse employees work together, they can perform their roles and responsibilities more effectively and a healthy culture will be maintaining within the company(Dahanayake, and et. al., 2018). This will also assist in ensuring development of diverse culture in workplace. Apart from this, providing employees 4
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with diversity awareness training is an appropriate way to maintain cultural diversity in the workplace. With the help of training, employees will get aware regarding the significance of maintaining cultural diversity(Davis, Frolova, and Callahan, 2016). RESEARCH METHODOLOGY Research Philosophy Interpretivism, positivism, realism, functionalist, subjectivism and pragmatism are some research philosophies among which positivism and interpretivism use the most. Positivism philosophy make use of verifiable data and interpretivism philosophy is based upon the principle that states that investigator performs particular role in observe social world. This research uses positivism research philosophy as it is based on testing of existing theory along with information which is highly structured as well as measurable(Enoksen, 2016). Research Approach Inductive research approach inductive research approach are the two major approaches which investigators used in researcher. Inductive approach relates to development of own theory and deductive approach relates to development of hypothesis on the basis of theory which is existing. This study uses deductive research approach as it assists in properly describing the relationship between cultural diversity and profit. Apart from this, it helps in generalizing the findings of study to some extent. Research Strategy Interviews, case study, survey, grounded theory, systematic literature review, ethnography, experimental research etc. are the different strategies which are used in research. For this research, survey strategy is used as it assists in collecting the quantifiable information effectively and drawing reliable outcomes. Apart from this, the data is collected through using questionnaire which helps in attaining precise results of research(Schouten, Khattab and Pahng, 2020). Research choice The research choices include quantitative and qualitative research choice. Among these, quantitative is used to quantify the issue collection of numerical data and qualitative method helps in understanding the underlying reasons and motivations. This research uses quantitative 5
choice as quantifying the variables to generalize findings of study. This also helps in ginning more accurate outcomes of study(Gottardello, 2019). Data Collection and analysis The process of gathering data is called data collection method. Primary and secondary methods are two data collection methods which are used by investigators. Primary method includes collection of first hand data and secondary method include collection of second hand data. Both methods are used in this research as this assist in collecting adequate amount of information so that effective outcomes from research can be gain(Jain, and Pareek, 2019). The questionnaire use in this research is as follows: Questionnaire Name: Address: Age: Email: Q 1) Do you have any awareness regarding cultural diversity in workplace? a) Yes b) No Q 2) How effective cultural diversity is for Marks & Spencer in improving its profits? a) Highly effective b) Effective c) Neither effective nor ineffective d) Ineffective e) Highly ineffective Q 3) Which is the key benefit that organisation can get by maintaining cultural diversity in workplace? a) Wide range of skills b) Enhanced reputation of company c) Promotes creativity and innovation 6
d) Maximized productivity e) Increased market share Q 4) According to you, what is the relationship between cultural diversity and profits of organisation? a) Positive relation b) Negative relation c) No relation Q 5) To what degree does Marks & Spencer prioritize cultural diversity inclusion in its workforce? a) Highly prioritize b) Prioritize b) Not prioritize d) Not ever considered Q 6) Are the practices of Marks & Spencer effective in maintaining cultural diversity in workplace? a) Yes b) No c) Neutral Q 7) What can be the key challenge that manager of Marks & Spencer face at the time of managing cultural diversity in workplace? a) Ethnic and cultural differences b) Language and communication c) Conflicting working styles d) Accommodation of beliefs Q 8) Which can be the more appropriate way or strategy that help Marks & Spencer in maintaining cultural diversity? a) Hiring diverse background employees b) Providing cultural awareness training c) Encourage team working d) Ensure effective communication 7
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Q 9) Do you ever get cultural diversity awareness training in the organisation? a) Yes b) No Q 10) Suggest any other appropriate way for Marks & Spencer that help in managing cultural diversity - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - Sampling Sampling is the way to collect sample size from the overall large population. two methods through which sample collected include probability and nonprobability sampling method. This research use probability sampling method for selecting sample size (Lozano, and Escrich, 2017). Simple random sampling method is used as it assists in eliminating biasness at the time of selecting sample. The sample size selected for this researches 10 respondents. These are the employees of Marks and Spencer. Ethical considerations Some ethical considerations which are considered in this research includes maintaining privacy and confidentiality of data. Researcher ensures that the personal data of respondents is kept confidential so that it cannot be leaked. Apart from this, prior to the research, informed consent of respondents taken and they are also communicated that they can withdraw anytime from their consent. In addition to this, it is ensured that the respect and dignity of all the participants are maintained during performing the research(Ku, and Liu, 2020). DATA COLLECTION AND ANALYSIS Data Analysis Q1)Doyouhaveanyawarenessregardingculturaldiversityin workplace? Frequency a) Yes7 b) No3 Q2)HoweffectiveculturaldiversityisforMarks&Spencerin improving its profits? Frequency 8
a) Highly effective0 b) Effective7 c) Neither effective nor ineffective1 d) Ineffective2 e) Highly ineffective0 Q 3) Which is the key benefit that organisation can get by maintaining cultural diversity in workplace? Frequency a) Wide range of skills1 b) Enhanced reputation of company1 c) Promotes creativity and innovation2 d) Maximized productivity4 e) Increased market share2 Q 4) According to you, what is the relationship between cultural diversity and profits of organisation? Frequency a) Positive relation8 b) Negative relation1 c) No relation1 Q 5) To what degree does Marks & Spencer prioritize cultural diversity inclusion in its workforce? Frequency a) Highly prioritize1 b) Prioritize7 b) Not prioritize0 d) Not ever considered2 Q 6) Are the practices of Marks & Spencer effective in maintaining cultural diversity in workplace? Frequency a) Yes7 b) No2 c) Neutral1 Q 7) What can be the key challenge that manager of Marks & Spencer face at the time of managing cultural diversity in workplace? Frequency 9
a) Ethnic and cultural differences4 b) Language and communication4 c) Conflicting working styles1 d) Accommodation of beliefs1 Q 8) Which can be the more appropriate way or strategy that help Marks & Spencer in maintaining cultural diversity? Frequency a) Hiring diverse background employees2 b) Providing cultural awareness training1 c) Encourage team working4 d) Ensure effective communication3 Q9)Doyouevergetculturaldiversityawarenesstraininginthe organisation? Frequency a) Yes4 b) No6 Q 10) Suggest any other appropriate way for Marks & Spencer that help in managing cultural diversity - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - Data Interpretation Theme 1:Awareness regarding cultural diversity in workplace Q 1) Do you have any awareness regarding cultural diversity in workplace? Frequency a) Yes70.00%7 b) No30.00%3 Total100.00%10 10
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Interpretation:As for the above pie chat, it can be interpreted that out of 10 respondents, 7 respondents have awareness regarding cultural diversity in workplace and the remaining 3 respondents have no awareness regarding cultural diversity. Theme 2: Effectiveness of cultural diversityin improving its profits of organisation Q 2) How effective cultural diversity is for Marks & Spencer in improving its profits? Frequency a) Highly effective0.00%0 b) Effective70.00%7 c) Neither effective nor ineffective10.00%1 d) Ineffective20.00%2 e) Highly ineffective0.00%0 Total100.00%10 11
Interpretation:The above pie chart depicts that according to 0 out of 10 respondents, cultural diversity in Marks and Spencer is highly effective in improving its profit, 7 people said that cultural diversity is effective in improving the profits, according to one respondent, cultural diversity is neither effective nor ineffective, two people said that it is ineffective and cultural diversity in company is not highly effective in improving its profit for any of the respondent. Theme 3:Key benefit that organisation can get by maintaining cultural diversity in workplace Q3)Whichisthekeybenefitthatorganisationcangetby maintaining cultural diversity in workplace? Frequency a) Wide range of skills10.00%1 b) Enhanced reputation of company10.00%1 c) Promotes creativity and innovation20.00%2 d) Maximized productivity40.00%4 e) Increased market share20.00%2 Total100.00%10 12
Interpretation:According to the above graph, it can be interpreted that according to 1 respondents out of 10, wide range of skills is the main benefit that company get through maintaining cultural diversity in workplace, 1 respondent said that enhance reputation of company is the key benefit, according to 2 respondents, promotion of creativity and innovation is the benefit that company get, 4 respondents said that maximized productivity is the benefit and according to remaining 2 respondents, increased market share is the benefit that company can get through maintaining cultural diversity. Theme 4:Relationship between cultural diversity and profits of organisation Q 4) According to you, what is the relationship between cultural diversity and profits of organisation? Frequency a) Positive relation80.00%8 b) Negative relation10.00%1 c) No relation10.00%1 Total100.00%10 13
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Interpretation:As per the above pie chart, it can be interpreted that according to 8 out of 10 respondents, they said that there is positive relationship between cultural diversity and profit of company, 1 respondent said that there is negative relation and according to the remaining 1 respondent, there is no relation between cultural diversity and profits of company. Theme 5: Extent to which companyprioritize cultural diversity inclusion in its workforce Q 5) To what degree does Marks & Spencer prioritize cultural diversity inclusion in its workforce? Frequency a) Highly prioritize10.00%1 b) Prioritize70.00%7 b) Not prioritize0.00%0 d) Not ever considered20.00%2 Total100.00%10 14
Interpretation:The above pie chart shows that according to the 1 out of 10 respondents, Marks and Spencer highly prioritize cultural diversity inclusion in its employees, 7 respondents said that it prioritises cultural diversity inclusion, according to 0 respondent, it does not prioritize cultural diversity inclusion in workforce and the remaining 2 respondents said that company not ever considered cultural diversity inclusion in workforce. Theme 6: Effectiveness of practices use bycompany effective in maintaining cultural diversity in workplace Q 6) Are the practices of Marks & Spencer effective in maintaining cultural diversity in workplace? Frequency a) Yes70.00%7 b) No20.00%2 c) Neutral10.00%1 Total100.00%10 15
Interpretation:According to the above chart, it can be interpreted that according to 7 out of 10 respondents, the practices of Marks and Spencer are effective in maintaining cultural diversity in workplace, 2 respondent said that the practices of company are not effective in maintaining cultural diversity and according to the remaining 1 respondent, they respond neutrally towards it. Theme 7:Key challenge that manager of organisation faces at the time of managing cultural diversity Q 7) What can be the key challenge that manager of Marks & Spencerfaceatthetimeofmanagingculturaldiversityin workplace? Frequency a) Ethnic and cultural differences40.00%4 b) Language and communication40.00%4 c) Conflicting working styles10.00%1 d) Accommodation of beliefs10.00%1 Total100.00%10 16
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Interpretation:As per the about pie chart, it can be said that according to 4 out of 10 respondents, ethnic and cultural differences is the key challenge that manager face at the time of managing cultural diversity in workplace, 4 respondents said that language and communication is the challenge which manager face, as per the opinion of 1 respondent, conflicting working style is the challenge and the remaining 1 respondent said that accommodation of beliefs is the key challenge which manager of Marks and Spencer’s face while managing cultural diversity in workplace. Theme 8:More appropriate way or strategy that help company in maintaining cultural diversity Q 8) Which can be the more appropriate way or strategy that help Marks & Spencer in maintaining cultural diversity? Frequency a) Hiring diverse background employees20.00%2 b) Providing cultural awareness training10.00%1 c) Encourage team working40.00%4 d) Ensure effective communication30.00%3 Total100.00%10 17
Interpretation:The about pie chart depicts that according to 2 out of 10 respondents, having diverse background employees is the more appropriate way which help company in maintaining cultural diversity, 1 respondent said that providing cultural awareness training is the appropriate way, according to 4 respondents, encouraging team working is the appropriate way and the remaining 3 respondents said that ensuring effective communication is the most appropriate way for maintaining cultural diversity in workplace. Theme 9:Cultural diversity awareness training in organisation Q 9) Do you ever get cultural diversity awareness training in the organisation? Frequency a) Yes40.00%4 b) No60.00%6 Total10.00%10 18
Interpretation:As per the above provided pie chart, it can be said that according to 4 out of 10 respondents, they said that they get cultural diversity awareness training in organisation and 6 said that they do not get cultural diversity awareness training. RECOMMENDATIONS As per the above analysis, it can be said that maintaining cultural diversity is important for MarksandSpencer.So,itisrecommendedtothemanagerofcompanythateffective communication must be ensure within the organisation. Providing all the information promptly and accurately is very necessary for effective performance of employees. Providing effective communication channels is necessary in order to ensure that all the information is communicated properly. Apart from this, developing teams is also an another way to maintain effective culture. So, the manager should develop effective teams so that all the people can work together. When people with different cultures work collectively, then they learnt a lot of things. Effective cross cultural team development helps in maintaining cultural diversity in workplace effectively. In addition to this, organisation should hire employees from diverse backgrounds so that individuals with right experience, education, skills and credentials can be maintaining in work place. REFLECTION By performing research on the topic "managing cultural diversity and profit", I learnt many things. This research helped me in gaining understanding about the significance of maintaining cultural diversity in workplace. Apart from this, I also get to know about the relationship 19
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between cultural diversity and profit of company. This research not only helped me in getting knowledge about the topic, but also supports in knowing about other areas associated with topic. In this investigation, quantitative research method is used so that numerical information can be collected. However, instead of this method, I can also use qualitative method for gaining detailed information on the topic. In addition to this, simple random sampling method is used by me, instead of which I can also use conveniencesamplingmethod. Thisresearch helped in developing skills and competencies and make me able to perform future research in more effective way. The overall experience of performing this investigation is good and if I get chance to perform further research in future in an effective and efficient way. CONCLUSION As per the above mentioned report, it has been concluded that managing cultural diversity is important as it help organisation in improving productivity of employees and attaining high profit ratios. If the employees with diverse cultures are existing within the organisation, then it providesvariousbenefitstocompanyintermsofimprovinginnovationandcreativity, maximizing profits, improve productivity etc. This also help in ensuring that adequate skills and talent will be maintain within the organization. However, there are some challenges which manager face while maintaining cultural diversity including conflicting working styles, ethnic and cultural differences, accommodation of beliefs and miscommunication. It is very necessary for the manager to take appropriate steps that help in managing cultural diversity effectively in the organisation. 20
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Thomas Smith, 2019.Cultural Diversity At The Workplace To Increase Productivity. [Online]. Availableat:<https://inc42.com/resources/cultural-diversity-at-the-workplace-to- increase-productivity/> [23rdOctober, 2020] G.C. Martin, 2014.The Effects Of Cultural Diversity In The Workplace.[Online]. Available at: file:///C:/Users/prouser/Downloads/8974-Article%20Text-35123-1-10-20141121.pdf [Accessed: 23rdOctober, 2020] Karsten Strauss,2018. More Evidence That Company Diversity Leads To Better Profits. [Online].Availableat:https://www.forbes.com/sites/karstenstrauss/2018/01/25/more- evidence-that-company-diversity-leads-to-better-profits/#704dcda21bc7[Accessed:23rd October, 2020] 22