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Diversity, in a business context, is hiring and promoting employees from a variety of different backgrounds and identities.Those characteristics may include various legally protected groups, such as people of different religions or races, or backgrounds that are not legally protected, such as people from different social classes or educational levels.
As a result, diversity trainers in the U.S. began calling for diversity training, arguing that women and minorities would soon be the backbone of the workforce and that companies needed to determine how to include them amongst their ranks. By 2005, 65 percent of large corporations offered their employees some form of diversity training. [6]
In business ethics, Ethical decision-making is the study of the process of making decisions that engender trust, and thus indicate responsibility, fairness and caring to an individual. To be ethical, one has to demonstrate respect, and responsibility. [ 1 ]
Basically, their message was, do not promote diversity because it is a legal mandate, but because it is good for business. From then on, researchers started to test a number of hypotheses on the business benefits of diversity and of diversity management, known as the business case of diversity. [31]
The function of developing and implementing business ethics in an organization is difficult. Due to each organization's culture and atmosphere being different, there is no clear or specific way to implement a code of ethics in an existing business. Business ethics implementation can be categorized into two groups; formal and informal measures.
Alternative terms include business culture, corporate culture and company culture. The term corporate culture emerged in the late 1980s and early 1990s. [1] [2] It was used by managers, sociologists, and organizational theorists in the 1980s. [3] [4]
That work, published in the Harvard Business Review, found that women in the workplace face bias regardless of their age, with their superiors often viewing them as too inexperienced if they are ...
Stakeholder theory is a theory of organizational management and business ethics that addresses morals and values in managing an organization. It was originally detailed by Freeman in the book Strategic Management: a Stakeholder Approach, and identifies and models the groups which are stakeholders of a corporation, and both describes and recommends methods by which management can give due ...