Managing a Diverse Workforce Around the World Research Paper

Managing a Diverse Workforce Around the World - Research Paper Example   This is because this phenomenon not only is capable of influencing the employers and employees working for an organization, but it also inflicts huge impact on the customers, suppliers, market reputation, and external stakeholders. They naturally drag along their cultures with themselves too and if leaders hesitate in making it their business to step in to look where one culture might crush the values of another culture either by mistake or with intention, big issues can develop and the ultimate consequences signify a major drop in the annual production rate. Therefore, developing the right kind of environment that is positive and healthy from the start is highly important in order to manage a culturally diverse workforce. It remains the job of the leaders to make the workforce understand that certain things which might be acceptable in one culture might appear to be truly inappropriate for workers coming from a different cultural background. Communication and teamwork if used to gether can combat the challenges raised by mismanaged workplace diversity. In the present global marketplace, conflicts originate often when the workers happen to be extremely self-involved and oblivious to the cultural circumstances around them due to which certain ideas might be presented by them that antagonize the cultural values of other workers. A culturally diverse workforce should not only be open to communication but it should be willing to collaborate. When the leaders invest wisely, the payoff might just turn out to be astounding. This is especially important as the payoffs literally affect every area of a business. In addition to better recruitment and employee retention as mentioned earlier, there is enhanced customer loyalty, stronger market position, innovative ideas, creativity, better attitudes, language skills, intuitive global understanding, and improved proposals to complex issues (Andrade, 2010). That is what results when the leaders decide to make a wise invest ment in developing a diverse workforce which is to be maintained later on by relying on teamwork and mutual collaboration as such a strategy helps in tacking the diversity challenges. It is increasingly important that the employers and managers inculcate this thing about how not being able to relate to cultural diversity can wreak havoc for an entire organization very earlier on their minds. This is because acknowledging an issue often serves as the first step to designing a solution. As discussed earlier whenever diversity is not respected at a workplace, one finds oneself entrapped between two opposing ideas as a result of which mental distortion speeds up and dissonance increases.  Ã‚  

Vornado Realty Trust Essay Example | Topics and Well Written Essays - 500 words

Vornado Realty Trust - Essay Example operties aggregating to about 2.2 million square feet and 32.4% interest in Alexandra’s Inc., which possesses six properties, in the New York metropolitan area, including 731 Lexington Avenue and the 1.3 million square foot Bloomberg L.P headquarters building (Russell & Cohn 12). Retail properties owned by Vornado Realty Trust include 120 strip shopping centres, single-tenant retail assets and malls, which audits to about 20.8 million square feet mainly established in California, Puerto Rico and the northeast states (Russell & Cohn 12). Vornado, with about 70% interest, controls 555 retail shops, in California street, and a three building office, in San Francisco financial district known as bank of America centre, which aggregates to 1.8 million square feet (Russell & Cohn 13). Vornado realty trust has a 25% of its capital partners providing about 800 million dollars of the real estate fund. The stock information regarding rental changes and occupancy rates, in different regions, where properties of Vornado Realty Trust are located, were at $86.02 and dividend of about $2.92 (Russell & Cohn 34). Change was 1.2%, which yielded 3.39% in the latest result compared to the previous years. The company had an income of $856.153 million boosted, in 2011, by the increase in rental rates, in New York and Washington, in 2011. The Vornado Realty Trust owns high-rise commercial buildings, in the tune of hundred millions, in Washington DC and New York (Russell & Cohn 45). Over the past years, the company increased its revenue exponentially in the previous years was driven by increases in total square footage. The first quarter of the company’s sales, of 350-west mart centre, was a commendable rental and occupancy rate increase for almost $228million (Russell & Cohn 46). The second quarter rental changes, in Washington and New York, by the sales of Washington office brought the sales of $500 with a net gain of $177million to the company (Russell & Cohn 54). These rates, in