The term “difference” can have various definitions depending on the context in which it used. Here are some common definitions across different fields:
General Definition:
The quality or condition of being unlike or dissimilar. This refers to a distinguishing characteristic or the way in which two or more things are not the same.
Example: “The main distinction between the two proposals is their cost.”
Mathematics:
The result of subtracting one number from another. In this context, it is the amount by which one quantity is greater or smaller than another.
Example: “The distinction between 8 and 3 is 5.”
Logic and Philosophy:
A property by which two concepts or objects are distinguished. It refers to a characteristic that sets two entities apart.
Example: “The distinction between humans and other animals is the capacity for abstract thought.”
Sociology and Anthropology:
The various ways in which people or groups are distinct from one another, often considering aspects such as culture, ethnicity, gender, etc.
Example: “Understanding cultural distinctions is crucial in global business.”
Set Theory (Mathematics):
Given two sets AAA and BBB, the difference (or set distinction) A−BA – BA−B is the set of elements that are in AAA but not in BBB.
Example: “If A={1,2,3}A = \{1, 2, 3\}A={1,2,3} and B={2,3,4}B = \{2, 3, 4\}B={2,3,4}, then A−B={1}A – B = \{1\}A−B={1}.”
Statistics:
The difference between two values, such as the mean difference between two groups in an experiment.
Example: “The distinction in average scores between the control and experimental groups was significant.”
Each definition highlights a specific aspect of how the term “difference” can applied in various fields of study or everyday language.
Recruitment and Selection Process Difference: The recruitment and selection process is one of the most important aspects of running new and established businesses alike. The right employees can take your business to new heights. The wrong ones can hurt business by missing sales, turning customers off, and creating a toxic workplace environment. Follow experts’ advice on each step of the recruitment and selection process to put together a team that fits with and enhances your business culture, goals, and objectives. Also learn, the Principles of Learning in Training, What is the difference between the Recruitment and Selection Process?
Learn, What is the difference between Recruitment and Selection Process?
Recruitment: “Recruitment” is the process of finding and hiring the best and most qualified candidate for a job opening, in a timely and cost-effective manner. It can also define as the “process of searching for prospective employees and stimulating and encouraging them to apply for jobs in an organization”.
It is one whole process, with a full life cycle, that begins with the identification of the needs of the company concerning the job, and ends with the introduction of the employee to the organization.
Selection Process:Employee Selection is the process of putting the right men on the right job. It is a procedure of matching organizational requirements with the skills and qualifications of people. Effective selection can do only when there is effective matching. By selecting the best candidate for the required job, the organization will get the quality performance of employees. Moreover, an organization will face less absenteeism and employee turnover problems. By selecting the right candidate for the required job, an organization will also save time and money. Proper screening of candidates takes place during the selection procedure.
This article will help you to differentiate between the recruitment and selection process.
The Difference in Recruitment:
In recruitment, the purpose is to locate or find out probable candidates.
Recruitment is positive, in that the management interests in maximizing the number of personnel on the recruitment list; because the larger is the number of persons on the recruitment list – the more is the probability of a better selection.
Recruitment initiates the procurement aspect of personnel management.
Also, Recruitment is done much in advance of time; when candidates would need for placement on various jobs in the organization.
In selection, the purpose is to select candidates finally for appointment to various jobs in the organization.
Selection is a negative process. It is a process of systematic elimination of unsuitable candidates at different stages of the selection procedure. Only the most suitable ones can reach up to the placement stage. The number of candidates selected is far less than the number appearing on the recruitment list
Also, Selection is done slightly in advance of time; when candidates would need for placement on various jobs, in the organization. In case, the selection is done much in advance of the required time, the management would have problems as to retaining them up to the required time.
The selection procedure is not only money consuming; but also time and efforts consuming. Suitable arrangements have to make for designing and implementing an appropriate selection procedure; because of the nature of the job for which people have to select.
Difference between Recruitment Process and Selection Process
Money and Capital Market Difference; What the differences between things are you first need to understand what each of the items is. In this case, before you can understand the difference between the money market and the capital market, you are going to need to understand. What money market is and what capital markets are. Once you understand the two items are it will be easier to see what the difference or differences are between the two markets. Also learn, What is the Difference Between an Intrapreneur and Entrepreneur? the Difference Between Money and Capital Market!
Learn and Understand, the Difference Between Money and Capital Market!
The following Difference below is:
What is the Money Market?
The money market is the global financial market for short-term borrowing and lending and provides short-term liquid funding for the global financial system. The average amount of time that companies borrow money in a money market is about thirteen months or lower. Some of the more common types of things used in the money market are certificates of deposits, bankers’ acceptances, repurchase agreements, and commercial paper to name a few.
What the money market consists of are banks. That borrow and lend to each other, but other types of finance companies are involving in the money market. What usually happens is the finance companies fund themselves by issuing large amounts of asset-backed commercial paper. That is securing by the promise of eligible assets into an asset-backed commercial paper conduit. Your most common examples of these are auto loans, mortgage loans, and credit card receivables.
What is Capital Market?
The capital market is a type of financial market. It includes the stocks and bonds market as well. But in general, the capital market is the market for securities. Where either companies or the government can raise long-term funds. One way that the companies or the government raise these long-term funds is through issuing bonds.
Which is where a person buys the bond for a set price and allows the government or company to borrow. Their money for a certain time but they are promising a higher return for allowing them to borrow the money. The higher return is paying through the interest that accrues on the money that the government or company borrows. The Difference between Revaluation and Realization Account!
Another way that the companies or government can raise money in the capital market is through the stock market. Most of the time you don’t see the government as a part of the stock market. But it can happen so we need to include them. But how the stock market works is that the companies decide to sell shares of their stock. Which is ownership in the company, to ordinary people and other companies, as a way to raise money. The people who buy the stock are usually given dividends each year if the company agrees to pay out dividends. So, that is another possible return on their investment.
The capital market consists of two markets. The first market is the primary market and it is where new issues are distributing to investors and the secondary market where existing securities are trading. Both of these markets are regulating so that fraud does not occur and in India, the Securities and Exchange Board of India (SEBI) is in charge of regulating the capital market.
The Difference Between Money and Capital Market!
The difference between the money market and capital market is that money markets are more of a short-term borrowing or lending market. Where banks borrow and lend between each other. As well as, finance companies and everything that is borrowing, is usually paying back within thirteen months. Whereas capital markets are for long-term investments, companies are selling stocks and bonds to borrow money from.
Their investors to improve their company or to purchase assets. Another difference between the two markets is what is being used to do the borrowing or lending. In the money markets, the most common things used are commercial paper and certificates of deposits. Whereas with the capital markets the most common thing used is stocks and bonds.
The money market is distinguishing from the capital market based on the maturity period, credit instruments, and the institutions, the Difference Between Money and Capital Market:
Basic Role:
The basic role of the money market is that of liquidity adjustment. The basic role of the capital market is that of putting capital to work, preferably to long-term, secure, and productive employment. Learn about the Difference Between Management and Leadership!
Maturity Period:
The money market deals with the lending and borrowing of short-term finance. While the capital market deals in the lending and borrowing of long-term finance.
Credit Instruments:
The main credit instruments of the money market are called money, collateral loans, acceptances, bills of exchange. On the other hand, the main instruments used in the capital market are stocks, shares, debentures, bonds, securities of the government.
Nature of Credit Instruments:
The credit instruments dealt with in the capital market are more heterogeneous than those in the money market. Some homogeneity of credit instruments is needed for the operation of financial markets. Too much diversity creates problems for investors.
Institutions:
Important institutions operating in the money market are central banks, commercial banks, acceptance houses, non-bank financial institutions, bill brokers, etc. Important institutions of the capital market are stock exchanges, commercial banks, and non-bank institutions. Such as insurance companies, mortgage banks, building societies, etc.
Purpose of Loan:
The money market meets the short-term credit needs of the business; it provides working capital to the industrialists. The capital market, on the other hand, caters to the long-term credit needs of the industrialists and provides fixed capital to buy land, machinery, etc.
Risk:
The degree of risk is small in the money market. The risk is much greater in the capital market. The maturity of one year or less gives little time for a default to occur, so the risk is minimizing. Risk varies both in degree and nature throughout the capital market.
Relation with Central Bank:
The money market is closely and directly linked with the central bank of the country. The capital market feels the central bank’s influence, but mainly indirectly and through the money market.
Market Regulation:
In the money market, commercial banks are closely regulating. In the capital market, the institutions are not much regulated.
What is the Difference Between Money and Capital Market?
Intrapreneur generally has the burning vision which helps them to improve the organization as an Intrapreneur you have the company name and a marketing channel at your back which can increase the chances of success of your enterprise. Intrapreneur does not need to risk his funds but as an entrepreneur have to risk your finances. Also learn, Intrapreneurs Inside an Entrepreneurs, This article explains to Why is Intrapreneurship Better than Entrepreneurship? Especially if capital for your idea is easier to come from inside the organization, Intrapreneurs better than entrepreneurs. The success of the enterprise needs continuous assesses of the companies technologies to stay competitive. If the Intrapreneur wants to bypass the existing company distribution channel still the company name matters. For the right person, an intrapreneur is invigorating and addicting. The company provides him security with the freedom and creativity of the entrepreneur.
Learn, Why is Intrapreneurship Better than Entrepreneurship? Deeply Explanation.
Are you in a place in your career where you are willing to take a gamble? Are you prepares to bet it all on yourself and roll the dice on your future? Or has that time come and gone and now you’re just looking for stability for you and your family? Or maybe you’re stuck in the middle.
Maybe you’re weighing the pros and cons of both paths and you’re desperately trying to decide between entrepreneur versus intrapreneur. The former revels in the idea of being their boss and making all the big decisions. While the latter is motivated by leading initiatives within the confines of corporate America.
This article helps you compare the two career paths and decide which one is right for you.
An entrepreneur is someone who, through his or her skills and passion. Creates business and is willing to take full accountability for its success or failure. An intrapreneur, on the other hand, is someone who utilizes his or her skill, passion and innovation to manage or create something useful for someone else’s business… with entrepreneurial zest.
Though both are visionary, it is the entrepreneur who spots an opportunity in the marketplace and has the courage and zeal to turn this opportunity into a business. In contrast, however, the Intrapreneur uses his or her passion. Drive and skills to manage the business or create something new and useful for the business.
The main disparity between an entrepreneur and an intrapreneur is that an entrepreneur has the freedom to act on his or her whim; whereas, an intrapreneur may need to ask for management’s approval to make certain changes in the company’s processes. The Product design or just about any innovation he or she needs to implement. Since an intrapreneur acts on innovative impulses, this may result in conflict within the organization. It is important for organizations who are implementing intrapreneurship, to create an atmosphere of mutual respect among employees.
In 2012, 52 percent of entrepreneurs decide to make their venture a home-based business—something many agree is a very attractive aspect of entrepreneurship. Meanwhile, just 10 percent of internal employees spent at least one day a week working from home—something you probably wish you could do more often.
But the work environment is about more than just location—it’s also about company culture. As an entrepreneur, you’ll shape the culture that surrounds your business. Meanwhile, intrapreneurs often join a preexisting culture that requires acclimation. It’s important to remember that an organization’s culture is something that can make you love or hate your job.
It doesn’t matter if it’s your home, a small shop or even a large corporate office. Entrepreneurs and intrapreneurs need to be comfortable with their work environment and company culture. Start thinking about which environment and culture bests fits your interests as you consider your entrepreneurial or intrapreneurial career path.
Responsibilities:
Becoming an entrepreneur puts the responsibility clearly on your shoulders. From accounting and marketing to customer service and social media. You are solely responsible for getting things done—a reality that is sometimes difficult to manage with only so many hours in a day. As an intrapreneur, however, you’re often tasking to work in one specializing area. That might mean working in accounting, marketing, customer service or social media, but rarely will an intrapreneur assign to all four departments.
Start thinking about if you would prefer to take ownership by juggling many different balls at the same time or simply focusing on a single set of responsibilities.
Risks & rewards:
The fact is that both entrepreneurs and intrapreneurs face risks. But, not all risks are equal. Entrepreneurs need to embrace the financial risk of forming their businesses, but the potential for financial gain may offset that risk. On the other hand, intrapreneurs enjoy the perks of a steady paycheck and health benefits but their employment is generally considering “at-will”. Which means the organization can terminate their employment at any time.
The difference between entrepreneurs and intrapreneurs, as it relates to risks versus rewards, is always going to be a personal decision. And they are most certainly not always financially driven. Be honest with yourself about how much risk you are comfortable with and which rewards you value the most.
Motivation:
Deep down, both entrepreneurs and intrapreneurs are motivating to make an impact on their businesses or organizations. But motivation comes in many forms for many people.
If you see yourself as someone who is motivated by things such as money. The personal achievement or fulfilling a lifelong dream, you might be fit to be an entrepreneur. But if your primary motivation is financial stability, love of what you are doing and putting others ahead of you, perhaps becoming an intrapreneur is a better fit.
Finding your path:
Deciding to become an entrepreneur can be very rewarding as it offers a variety of perks related to scheduling flexibility and control in making decisions. Meanwhile, intrapreneurs who work hard for a company often enjoy additional resources, financial stability, and greater responsibilities.
At the end of the day, deciding on entrepreneurship versus intrapreneurship as a career path can be a tough decision. It’s important to be thinking about which path best matches your dreams, interests, and aspirations.
So now Which one Better for You, Is Intrapreneurship Better than Entrepreneurship? Either way, the choice is yours.
Why is Intrapreneurship Better than Entrepreneurship? Also, the image by Online.
Factors affecting Organizational Change; Change is inevitable in the life of an organization. In today’s business world, most organizations are facing a dynamic and changing business environment. Also Learn, What are the Participation and Organizational Change? factors affecting change in organization External, and Internal. They should either change or die, there is no third alternative. Organizations that learn and cope with change will thrive and flourish and others who fail to do so will be wiped out. The major forces which make the changes not only desirable but inevitable are technological, economic, political, social, legal, international, and labor market environments.
Explain are Factors affecting Organizational Change, Difference between External and Internal Factors.
In very simple words, we can say that change means the alteration of the status quo or making things different. The factors affecting change in organisation;“The term change refers to any alterations which occur in the overall work environment of an organization.”
“When an organizational system is disturbed by some internal or external force, change frequently occurs. Change, as a process, is simply the modification of the structure or process of a system. It may be good or bad, the concept is descriptive only.”
Organizational changes are required to maintain equilibrium between various external and internal forces to achieve organizational goals. Therefore various factors that may be important for necessitating organizational changes may group into two categories: external and internal.
#EXTERNAL FACTORS:
Every organization exists in some context: no organization is an island in itself. Each must continually interact with other organizations and individuals – the consumers, suppliers, unions, shareholders, government – and many more. Each organization has goals and responsibilities related to others in its environment. Thus not only an organization must deal with its environment in conducting its affairs, but it must also consider the goals of others as it establishes its foals and conducts its operations.
The present-day environment is dynamic and will continue to be dynamic. Changes in social, political, economic technological, and legal environments force organizations to change themselves. Such change may result in organizational changes like major functions, production processes, labor-management relations, nature of competition, economic constraints, organizational methods, etc. to survive in the changing environment, an organization must change.
How the change in various environmental factors necessitates the change in the organization may see in the following context:
1. Technological Changes:
when there is a change in technology in the organization’s environment and other organizations adopt the new technology, the organization under focus becomes less cost-effective and its competitive position weakens. Therefore, it has to adopt new technology. When organizations adopt new technology, their work structure stands affected and a new equilibrium has to establish. For example computers and automation have made a significant impact on organizational functioning. Also read, Explain Organizational Culture.
2. Changes in Marketing Conditions:
Since every organization exports its outputs to the environment, an organization has to face competition in the market. There may be two types of forces that may affect the competitive position of an organization – other organizations supplying the same products and buyers who are buying the product. Any change in these forces may require suitable changes in the organization. For example, when the Indian economy was liberalized (the process continues), many foreign organizations entered the Indian market.
This forced many Indian organizations to realign themselves with the new situation. The result is that there have been many cases of divesting the businesses and concentrating on the core businesses, acquiring core businesses, and developing competitive competence to face competitive threats. Similarly, there may be changes in buyers in terms of their needs, liking – disliking, and income disposal for a product. These changes force the organizations to bring those products which meet the buyer’s requirements.
3. Social changes:
The social changes reflect in terms of people’s aspirations, their needs, and their way of working. Social change has taken place because of several forces like the level of education, urbanization, feeling of autonomy, and international impact due to new information sources. These social changes affect the behavior of people in the organization. Therefore it is required to adjust its working so that it matches people.
4. Political and Legal Changes:
Political and legal factors broadly define the activities which an organization can undertake and the methods which will follow it in accomplishing those activities. Any change in these political and legal factors may affect the organizational operation. Don’t forget for learning, Dimensions of Organizational Climate.
#INTERNAL FACTORS:
It is not only the change in external factors that may necessitate organizational change, but any change in an organization’s internal factors may also necessitate change. Such a change is required because of two reasons: a change in managerial personnel and a deficiency in existing organizational practices.
1. Change in Managerial Personnel:
Besides environmental; changes, there is a change in managerial personnel. Old managers are replaced by new managers who are necessitating because of retirement, promotion, transfer, or dismissal. Each new manager brings his ideas and way of working in the organization. The manager brings his ideas and way of working to the organization. The relationships more particularly informal ones, change because of changes in managerial personnel. Moreover, attitudes of the personnel change even though there is no change in them. The result is that an organization has to change accordingly.
2. Deficiency in Existing Organization:
Sometimes, changes are necessary because of deficiencies in the present organizational arrangement and process. These deficiencies may be in the form of an unmanageable span of management, a large number of managerial levels, lack of coordination between various departments, obstacles in communication, the multiplicity of committees, lack of uniformity in policy decisions, lack of cooperation between line and staff, and so on.
3. Nature of the workforce:
The nature of the workforce has changed with time. Different work values have been expressed by different generations. Workers who are in the age group of 50 plus value loyalty to their employers. Workers in their mid-thirties to forties are loyal to themselves only. The youngest generation of workers is loyal to their careers. The profile of the workforce is also changing fast. The new generation of workers has better education; they place greater emphasis on human values and question the authority of managers. Their behavior has also become very complex and leading them towards organizational goals is a challenge for the managers. The employee turnover is also very high which again puts the strain on the management.
4. To avoid developing inertia:
In many cases, organizational changes take place just to avoid developing inertia or inflexibility. The conscious manager takes into account this view of the organization that the organization should be dynamic because any single method is not the best tool for management every time. Thus, changes are incorporated so that the person develops a liking for change and there is no unnecessary resistance when the major change in the organization is brought about.
What are the Factors affecting Organizational Change? External and Internal.
Revaluation account and Realization Account are two types of nominal account, which are the concern with the partnership. The primary difference between these two accounts lies in several factors like the time of preparation, contents, objective, and so forth. In the given article, we’ve compiled all the difference between revaluation and realization account.
What is the Difference between a Revaluation account and a Realization account?
The following topic below are;
What is Revaluation?
Revaluation is a change in the price of a good or product, or especially of a currency, in which case it is specifically an official rise of the value of the currency about foreign currency in a fixed exchange rate system. Under floating exchange rates, by contrast, a rise in a currency’s value is an appreciation.
Altering the face value of a currency without changing its purchasing power is a redenomination, not a revaluation (this is typically Efficient by issuing a new currency with a different, usually lower, face value and a different, usually higher, exchange rate while leaving the old currency un-change; then the new replaces the old). Read and learn, The Difference between Revaluation and Realization Account.
Definition of Revaluation Account;
In accounting, a revaluation account implies an account open by the firm to keep a record of gains or losses, when assets are revalued, and liabilities are reassessed, on reconstitution of the firm. Reconstitution of the firm occurs in the following forms: 1. Admission of a new partner, 2. Change in profit and loss sharing ratio, 3. The retirement of an existing partner, and 4. Death of a partner.
What is Realization?
An act of becoming fully aware of something as a fact. It is three meaning, First, Conversion of assets, goods, or services into cash or receivables through the sale. Also, call actualization. Second, In accrual basis accounting, recognition of revenue upon its occurrence. When the title passes from the seller to the buyer with the associative creation of an obligation to pay. In contrast, in cash base accounting revenue is recognizing only when cash is receiving. And, Third, Carrying out an act or process to its completion.
Definition of Realization Account;
A realization account refers to an account open to the firm when it goes to dissolution to record the profit made from the sale of assets and loss tolerate on the settlement of liabilities.
When the partnership firm is under disintegration, then its account is close to books and is considered to the payment of losses and liabilities for the profit or earning of the profits. And to do this, to identify the net profit or loss, a realization account is ready. In proportion to the transfer of all partner’s capital account in which the profit and loss are shared by them.
What is the Difference between Revaluation and Realization Account?
Revaluation Account is ready only when there is any change in the value of asset and liabilities of the partnership firm, at the time of admission, retirement, and death of a partner. On the other hand, Realization Account is open when the firm goes into liquidation, to close the books of accounts and also to compute the net effect (profit or loss) arising due to the realization of assets and settlement of liabilities. Also, read it, What is the Difference between Leadership and Entrepreneurship?
Main Differences:
The Points given below are noteworthy so far as the difference between revaluation and realization account is the concern:
An account open to the firm to know whether there is any change in the value of assets and liabilities of the firm, during reconstitution, is a Revaluation account. On the other hand, a realization account is an account ready to ascertain the net profit or loss on the sale of assets or discharge of liabilities, during dissolution.
Revaluation account comprises only those assets and liabilities, whose values are revised. Conversely, the realization account contains all the assets and liabilities.
These two accounts mainly differ about the time of preparation of the two, i.e. revaluation account is ready when the firm is reconstituting, whereas the realization account is ready when the firm is dissolving.
Revaluation account is ready at various events like admission, retirement, or the death of partners. Unlike realization, the account is ready only once, and that is when the firm discontinues its operations.
In the case of a re-evaluation account, accounting entries are made based on the difference in the value of the book and the amount of re-valuation property and liabilities. On the contrary, accounting entries have been made at the book value of assets and liabilities.
The balance of the re-evaluation account is transferring to the old partner’s capital account. On the contrary, the rest of the receipt account is taken for all the partners.
The content of Revaluation Account Vs Realization Account:
The following difference below are;
Meaning:
Revaluation Account records the effect of re-valuation of assets and liabilities. Realization Account records the realization of assets and settlement of liabilities.
Purpose:
It is ready to find out the net profit/loss of re-valuation. It is ready for determining net profit/loss on the realization of assets and settlement of liabilities.
When Prepared:
It is ready at the time of admission, retirement, or death of a partner. It is ready at the time of the dissolution of the firm.
Contents:
In this account, only changes in assets and liabilities are records. In this account, all assets and liabilities are records.
Preparation of Account:
This account may be ready on several occasions during the life of a firm. This account is ready only once during the life of a firm.
Profit or Loss:
The Profit/Loss on revaluation is transferring to old partners capital, accounts in the Profit Sharing Ratio. The Profit/Loss on realization is transferring to all partner’s capital accounts.
Difference between Revaluation and Realization account, #expertbeacon.
Leadership and Entrepreneurship Difference; Sometimes, an entrepreneur and a leader, or say, leadership and entrepreneurship consider as a synonym, i.e. meaning the same thing. But, these two terms mean quite different meanings. Entrepreneurship means a set of attributes that an entrepreneur possesses and practices in starting his /her enterprises. But, leadership is the process of influencing people and providing an environment for them to achieve organizational objectives.
Learn & Explanation, What is the Difference between Leadership and Entrepreneurship?
Thus, leadership is quite different from entrepreneurship. Entrepreneurship can include leadership, but not leadership in entrepreneurship. Also, Learn about the Difference Between Management and Leadership!
Leadershiphas also implications for entrepreneurial behavior. People with leadership qualities, for example, influencing ability, are found more. Prone to become entrepreneurs and perform entrepreneurial functions more effectively. Research studies (Burns 1978) report that entrepreneurs who blend with leadership attribute often emerge as ‘transformational entrepreneurs. Who replace old and routine things with altogether new sets and standards of work performance.Are Entrepreneurs Made or Born! Explanation Why?
They work for change rather than stability. This is because leadership involves a drive, i.e. (high) need for achievement, the most important antecedent to entrepreneurship. This drive represents the inner motivations that entrepreneurs with leadership qualities possess to pursue their goals and encourage others to willingly and enthusiastically move forward to achieve the set goals.
The relevant leadership qualities or competencies influencing entrepreneurial behavior are inner drives, integrity, self-confidence, intelligence, knowledge concerning the business, and emotional intelligence. One way to distinguish entrepreneurship from leadership can be in terms of their task demands and personal dispositions.
Difference between Leadership and Entrepreneurship:
The Following difference is:
To compare or the difference between leadership and entrepreneurship, we may want to do so in four dimensions already addressed before (and following Cogliser and Bringham, Vecchio): Vision, Influence, Leading in the Context of Innovation/Creativity, and Planning.
Vision (followers/larger constituency)!
A Vision is the main component when inspiring followers toward exemplary performance or other goal-directed behavior as well as organizational performance.
The Vision attributes (brevity, clarity, abstractness, challenge, future orientation, stability, and desirability or ability to inspire) and content (growth imagery) are related to new venture growth. Followers need to motivate through involvement, participation, and a professionally meaningful mission.
Influence!
A commonality across many of the various definitions of leadership is the ability to influence others toward a goal. Rational persuasion widely uses for both upward, lateral, and downward influence.
Entrepreneurs not only see opportunities (understand the ways and means) but can marshal resources to carry out their vision. The use of rational persuasion and inspirational appeals is likely to be effective when the request is legitimate and in line with the entrepreneur’s values and the constituencies’ needs.
Leading in the context of Innovation!
Leading creative people requires technical expertise and creativity, employing several direct and indirect influence tactics.
Entrepreneurial leadership should involve idea generation, idea structuring, and idea promotion.
In complex, dynamic environments where people must coordinate their activities, planning represents a key influence on performance.
Entrepreneurs have a clear need for the mental awareness of future actions to anticipate potential reactions to strategic choices.
Entrepreneurship is all about a set of skills and abilities to be as self-sufficient as possible when it comes to business. Meaning that entrepreneurship more focuses on risk-taking, recognizing opportunities, and the ability to be a self-starter.
Whereas, leadership is about effectively managing the people and resources around you. A great leader isn’t necessarily focused on being a risk-taker, nor are they require to be visionaries. All a leader is primarily focus on bringing people together to execute a common goal.
Difference between Leadership and Entrepreneurship
Leadership and Management Difference; The words “leader” and “manager” are among the most commonly used words in business and are often used interchangeably. But have you ever wonder what the terms mean? What is the Difference Between Management and Leadership? Leadership is working solely, lead the Business own, but Management runs through the entire department.
What Do they Do? Learn about the Difference Between Management and Leadership!
The following topic define what difference them below are;
First, What is Management?Management (or managing) is the administration of an organization. Whether it is a business, a not-for-profit organization, or a government body. Management includes the activities of setting the strategy of an organization and coordinating the efforts of its employees (or of volunteers) to accomplish.
It’s objectives through the application of available resources, such as financial, natural, technological, and human resources. The term “management” may also refer to those people who manage an organization.
Second, What is Leadership? Leadership is both a research area and a practical skill encompassing the ability of an individual or organization to “lead” or guide other individuals, teams, or entire organizations.
Specialist literature debates various viewpoints, contrasting Eastern and Western approaches to leadership, and also (within the West) US vs. European approaches. US academic environments define leadership as “a process of social influence in which a person can enlist the aid and support of others in the accomplishment of a common task”.
Leadershipseen from a European and non-academic perspective encompasses a view of a leader. Who can move not only by communitarian goals but also by the search for personal power? Leadership can derive from a combination of several factors.
What Do Managers Do?
A manager is a member of an organization with the responsibility of carrying out the four important functions of management: planning, organizing, leading, and controlling. But are all managers leaders?
Most managers also tend to be leaders, but only IF they also adequately carry out the leadership responsibilities of management. Which include communication, motivation, providing inspiration and guidance, and encouraging employees to rise to a higher level of productivity.
Unfortunately, not all managers are leaders. Some managers have poor leadership qualities, and employees follow orders. Their managers because they are obliged to do so not necessarily because they are influenced or inspire the leader.
Managerial duties are usually a formal part of a job description; subordinates follow as a result of the professional title or designation. A manager’s chief focus is to meet organizational goals and objectives; they typically do not take much else into consideration. Managers are held responsible for their actions, as well as for the actions of their subordinates. With the title comes the authority and the privilege to promote, hire, fire, discipline, or reward employees based on their performance and behavior.
What Do Leaders Do?
The primary difference between management and leadership is that leaders don’t necessarily hold or occupy a management position. Simply put, a leader doesn’t have to be an authority figure in the organization; a leader can be anyone.
Unlike managers, leaders are followed because of their personality, behavior, and beliefs. A Leader personally invests in tasks and projects and demonstrates a high level of passion for work. Leaders take a great deal of interest in the success of their followers, enabling them to reach their goals to satisfaction these are not necessarily organizational goals.
There isn’t always tangible or formal power that a leaderpossesses over his followers. Temporary power is the award to a leader and can conditional base on the ability of the leader to continually inspire and motivate their followers.
Subordinates of a manager are required to obey orders while following is optional when it comes to leadership. Leadership works on inspiration and trust among employees; those who do wish to follow their leader may stop at any time. Generally, leaders are people who challenge the status quo. Leadership is change-savvy, visionary, agile, creative, and adaptive.
The important differences between them:
Being a manager and a leader at the same time is a viable concept. But remember, just because someone is a phenomenal leader it does not necessarily guarantee that the person will an exceptional manager as well, and vice versa. So, what are the standout differences between the two roles?
A leader invents or innovates while a manager organizes!
The leader of the team comes up with new ideas and kickstarts the organization’s shift or transition to a forward-thinking phase. A leader always has his or her eyes set on the horizon, developing new techniques and strategies for the organization. A leader has immense knowledge of all the current trends, advancements, and skillsets—and has the clarity of purpose and vision. By contrast, a manager is someone who generally only maintains what is already established. A manager needs to watch the bottom line while controlling employees and workflow in the organization and preventing any kind of chaos.
A manager relies on control whereas a leader inspires trust!
A leader is a person who pushes employees to do their best and knows how to set an appropriate pace and tempo for the rest of the group. Managers, on the other hand, are required by their job description to establish control over employees which, in turn, helps them develop their assets to bring out their best. Thus, managers have to understand their subordinates well to do their job effectively.
A leader asks the questions “what” and “why whereas a manager leans more towards the questions “how” and “when”!
To be able to do justice to their role as a leader. Some may question and challenge authority to modify or even reverse decisions. That may not have the team’s best interests in mind.
Good leadership requires a great deal of good judgment. Especially when it comes to the ability to stand up to senior management over a point of concern or if there is an aspect in need of improvement. If a company goes through a rough patch, a leader will be the one who will stand up and ask the question: “What did we learn from this?”
Managers, however, are not required to assess and analyze failures. Their job description emphasizes asking the questions “how” and “when,” which usually helps them make sure that plans are properly executed. They tend to accept the status quo exactly the way it is and do not attempt a change.
Understanding the Differences between Management and Leadership:
A successful business owner needs to be both a strong leader and manager to get. Their team on board to follow them towards their vision of success. Leadership is about getting people to understand and believe in your vision and to work with you to achieve your goals. While managing is more about administering and making sure the day-to-day things are happening as they should.
While Many Traits Make Up a Strong Leader, Some of the key characteristics are:
Honesty & Integrity: are crucial to getting your people to believe you and buy into the journey you are taking them on
Vision: know where you are, where you want to go, and enroll your team in charting a path for the future.
Inspiration: inspire your team to be all they can by making sure they understand their role in the bigger picture.
Ability to Challenge: do not be afraid to challenge the status quo, do things differently, and have the courage to think outside the box.
Communication Skills: keep your team informs of the journey, where you are, where you are heading, and share any roadblocks you may encounter along the way.
Some of the Common Traits Shared by Strong Managers are:
Being Able to Execute a Vision: take a strategic vision and break it down into a roadmap to follow the team.
Ability to Direct: day-to-day work efforts, review resources need, and anticipate needs along the way.
Process Management: establish work rules, processes, standards, and operating procedures.
People Focused: look after your people, their needs, listen to them, and involve them.
For you to engage your staff in providing the best service to your guests, clients, or partners. You must enroll them in your vision and align their perceptions and behaviors. You need to get them excited about where you are taking them while making sure they know what’s in it for them. With smaller organizations, the challenge lies in making sure you are both leading your team as well as managing your day to day operation. Those who can do both will create a competitive advantage. Are you both a leader and a manager; what would your staff say if you were to ask them?
Learn about the Difference Between Management and Leadership!
Difference between Efficiency and Effectiveness; Efficiency is regularly befuddling with effectiveness. Both efficiency and effectiveness are a basic piece of fruitful administration. All in all, efficiency is a quantifiable idea, quantitatively dictated by the proportion of helpful yield to add up to include. Effectiveness is the less complex idea of having the option to accomplish the ideal outcome, which can communicate quantitatively however doesn’t typically need more convoluted science than expansion.
Here is an explanation of the Difference between Efficiency and Effectiveness!
Efficiency can regularly communicate as a level of the outcome that could in a perfect world expect, for instance, if no energy were lost because of rubbing or different causes, in which case 100% of fuel or other info would use to deliver the ideal outcome. This doesn’t generally apply, not even in all cases wherein efficiency can appoint a mathematical worth, for example not for explicit motivation. Treatment of 10 Yoga Poses Better Help Your Back Pain.
What is Efficiency?
Efficiency is the (frequently quantifiable) capacity to try not to squander materials, energy, endeavors, cash, and time in accomplishing something or in creating the ideal outcome. In a more broad sense, it is the capacity to do things well, effectively, and without squander. In more numerical or logical terms, it is a proportion of the degree to which info well uses for an expected errand or capacity (yield).
It frequently explicitly contains the ability of a particular use of exertion to create a particular result with a base sum or amount of waste, cost, or pointless exertion. Efficiency alludes to totally different information sources and yields in various fields and businesses.
Meaning of Efficiency: The correlation of what is really creating or perform with what can accomplish with similar utilization of assets (cash, time, work, and so on) is a significant factor in the assurance of profitability. See likewise effectiveness.
What is the Effectiveness?
Effectiveness is the capacity of delivering the ideal outcome or the capacity to create the ideal yield. When something esteems powerful, it implies it has a proposed or expected result or creates a profound, striking impression. How to Effect of Innovation Culture in Organizations?
Meaning of Effectiveness: The degree to which destinations are accomplishing and the degree to which focused issues are explaining. As opposed to efficiency, effectiveness decides without reference to costs and, while efficiency signifies “doing the thing right,” effectiveness signifies “making the best choice.”
The Difference Between Efficiency and Effectiveness:
Efficiency and effectiveness both usually utilize administration terms. However, while they sound comparable and start with similar letters, the two of them mean various things. Efficiency alludes to getting things done perfectly. Experimentally, it characterizes as the yield to enter proportion and spotlights on getting the most extreme yield with least assets. Effectiveness, then again, alludes to doing the correct things. It continually gauges if the real yield meets the ideal yield.
Since efficiency ties in with zeroing in on the cycle, significance provides for the ‘way’ of getting things done while effectiveness centers around accomplishing the ‘ultimate objective. Efficiency concerns the current state or ‘business as usual’. Contemplating the future and adding or dispensing with any assets may upset the present status of efficiency. Effectiveness, then again, trusts in meeting the ultimate objective and consequently thinks about numerous factors that may change later on.
Additional things;
To be proficient over and over, control and meticulousness are requiring. This can incorporate firmness with the framework. Effectiveness, then again, remembers the drawn-out procedure and is in this manner more versatile to the evolving climate. Since efficiency ties in with doing things right, it demands documentation and reiteration of similar advances. Doing likewise over and over, in a similar way, will absolutely debilitate development. Then again, effectiveness empowers advancement as it demands individuals to figure, the various ways they can meet the ideal objective.
Efficiency will take a gander at evading missteps or blunders though effectiveness ties in with picking up progress. In the prior long stretches of large scale manufacturing, efficiency was the main exhibition marker for any association. Be that as it may, with purchasers confronting an expanding number of decisions, the effectiveness of an association consistently questions. To be a fruitful association, there should be harmony among effectiveness and efficiency. Just being productive and not meeting the prerequisites of the partners of the association is of little use to anyone. And effectiveness may bring about progress however at what cost?
The Difference between Efficiency and Effectiveness in Management.
Efficiency and Effectiveness as expressed by Peter Drucker “Efficiency is doing things right; Effectiveness is making the best choice.” An association endures base on the efficiency and effectiveness of a chief/the executives. Efficiency is the utilization of money related, human, physical, and data assets with the end goal that yield are expanding for some random arrangement of asset information sources or information is limiting for any gives amount and nature of yield.
An effective supervisor may do the correct work however not the occupation right. Doing the correct employment doesn’t need a lot of time or assets. An occupation can do rapidly and effectively inside time. For this situation, the director’s primary point is to land the position finish inside the allotting time utilizing the given assets. In any case, managing a responsibility viably includes time and arranging the correct methodology. For this situation, the director focuses more on the result as opposed to simply the info.
In Management;
Both efficiency and effectiveness are a necessary piece of fruitful administration. The executives predominantly worry about getting things to complete and deciding how to get things achieving. In every administrator’s brain, there is a discussion about whether more concern ought to go into minimal effort creation or negligence. Creation costs and follow the total fulfillment of objectives and goals.
These two way knows as the choices which separate “Efficiency” and “Effectiveness”. Efficiency implies that the employment was achieved efficiently and on the schedule yet may not be an exhaustive and great achievement. Though, effectiveness implies that the occupation was finished accurately and was achieving. In any case, with no respect to whether the occupation was finished economically or on schedule.
To show this thought with a basic model, let s take an association that needs to make a promotion for its administration/item. Making the advertisement inside the spending plan and in time is proficient. However, the primary interesting points are the current market pattern and climate. It would require some investment and cash to make a promotion that would shout to the clients.
Additional information;
Innovativeness and efficiency alone are insufficient to make the ideal advertisement. A nitty gritty investigation of what the client needs and communicating it as it were. That would speak to the ethos of the client is the thing that needs to make the promotion. Even though this model is definitely not an immediate case of the executives. It is a straightforward method to feature the contrast between efficiency and effectiveness.
In an association, a pioneer is unique about a supervisor. A decent pioneer isn’t basically a decent chief however a decent director ought to have ideal administration characteristics. A supervisor would someone say someone is who keeps up the equilibrium of effectiveness and efficiency in the organization. How Do You Know Your Company Wants Help From The Outside?
The contrast between efficiency and effectiveness must make unmistakably understood, as the two are almost indivisible in the business system. Be that as it may, they command two unmistakable perspectives. This significance between the two is critical with regards to dealing with an association. It is additionally important to understand that the two are fundamentally unrelated and that an association can’t get by with just efficiency alone and not effectiveness.
What is the Difference between Efficiency and Effectiveness?
What is Difference between International and Comparative Human Resource Management? Meaning and Definition!
International Human Resource Management (Human Resource Management)
Due to increased globalization and easy mobility and communications between countries, companies operate at international level. The major task for organizations which operate across international boundaries is to manage. The dissimilar stresses of the drive for integration and differentiation. In the broader sense, International human resource management process has same activities as in Domestic HRM such as planning and staffing. However, domestic HRM is operated in one nation And IHRM activities are involving in different countries. International Human Resource Management is a branch of management studies that examine. The design and effects of organizational human resource practices in cross-cultural contexts.
It occupies an exciting position in the interstices of international business. Human resource management and organizational behavior, scholarships. The theoretical study explains that International HRM is the interplay between three dimensions: HR activities, the types of people being employed in the organization and the different countries that an organization is operating in (Dowling, 1999). Complexities caused by these last two variables are what differentiates international HRM from domestic HRM, as the HR activities themselves are relatively similar.
Comparative Human Resource Management (Human Resource Management)
The meaning and impact of comparative human resource management. Many scholars of HRM have to focus on a narrow definition of the topic that fits the liberal market agenda widespread in some countries but fails to capture the reality of any country – a problem brought into stark relief by comparative studies of HRM. On the basis of that analysis, it will be argued that multiple stakeholder perspectives focused on the long-term benefits to organizations. Employees and the wider community is a more powerful analytic tool. New Roles of Human Resource Management in Business Development.
As an increasing number of organizations seek to operate in foreign markets. It is vital that management practitioners develop a better understanding of, and sensitivity to, the impact of different national settings on the management task. In the field of cross-cultural management/organization, scholars have sought to assist practitioners in achieving. This by conducting research that has generally guiding by two key questions: (1) what is general and universal in the management of organizations, and (2) what is peculiar or specific to one nation or culture?
Difference between international and comparative HRM
International Human Resource Management has defined as HRM issues, functions. Policies and practices that result from the strategic activities of MNEs. International Human Resource Management deals principally with issues and problems associated with the globalization of capitalism. It involves the same elements as domestic HRM but is more complex to manage. In terms of the diversity of national contexts and types of workers. The emphasis is on the MNCs’ ability to attract, develop and deploy talented employees in a multinational setting and to get them to work effectively despite differences in culture, language, and locations. International HRM tends to mitigate the impact of national culture and national employment practice against corporate culture and practices.
Comparative Human Resource Management, on the other hand, is a systematic method of investigation. That seeks to explain the patterns and variations encountered in cross-national HRM rather than simply describe HRM institutions and practices in different societies. Different national business systems arise from differences in specific historical, cultural and institutional heritage in certain countries. Comparative differences occur due to decisive historical events such as the process of industrialization or due to the legacy of pre-modern forms of social organization. Hofstede adopted the ‘culturalist’ perspective where he argued that national business styles emerge due to ingrained cultural attitudes and mental schemas. He described culture under five dimensions which are power distance, individualism, masculinity, uncertainty avoidance and long-term orientation.
Human Resource Management policies and practices are becoming universal and that country-of-origin effects are no longer relevant. The pressure to build standardize operations internationally is strongest in sectors. Where competition is highly internationalizing, and where firms compete on the basis of a similar product or service across countries. Such as in cars and fast foods. They have put forward several reasons to explain this trend.
Firstly, all MNCs operate in one global market and therefore have to respond to the same environmental pressures such as globalization and technology. The growth in international trade and the move towards an internationally-integrated financial system.
Secondly, the widespread practice of benchmarking ‘best practice’ in terms of cost. Quality and productivity may also have contributed to the convergence of international HRM models for e.g. Japanese style ‘lean-production’ system in the 1980s and 1990s. Moreover, these pressures towards convergence stem in part from the influence of MNCs themselves through. Their ability to transfer practices across borders and erode country-of-origin effects.
Finally, the formation and development of like-minded international cadres mostly from American or European business schools. May have contributed to homogenize international HRM policies and practices.
Since the early 1990s, the international HRM literature has dominated by models and typologies aim at identifying how international HR fits with organizational strategy. The main issue for all multinational companies is the need to trade-off the advantages global efficiency namely. The coordination of its operations to achieve economies of scale and scope as opposing to the need to differentiate its products and services to meet the local demands. They also identify a third pressure, namely worldwide innovation and learning. Whereby firms are encouraging to support innovation and learning across. Their network of subsidiaries rather than simply relying on research and development at the headquarters. MNEs then follow the appropriate HRM policies and practices according to the structure of the organization. The competitive strategy is chosen or stage of corporate evolution reach.
Taylor’s model of strategic international HRM has described below
Exporting: This is essentially a model where the HQ management takes home country management approach and try to implement them in their foreign subsidiaries in order to achieve economies of scale. In this model, there is a system of hierarchy and a centralized control. This is especially useful in instances of an uncertain political environment and high risks demanding greater control from corporate parents. Given this pattern of centralization, there is a considerable amount of ‘forward policy transfer’ and less ‘reverse transfer. From subsidiaries to the HQ, i.e. they rely mainly on the technical know-how of the parent company. Strategic Role of e-HR (Electronic Human Resource).
Global firms offer products or services that are standardizing to enable production to carry in a cost-efficient way. Their subsidiaries are not subject to rigid control except over the quality and the presentation of the product or service. This structure is normally associate with the American firms with their formalize. Bureaucratic control and a dominant finance system to internalize risks. What is Need? The Do and Don’t in Diversity Management.
Adaptive: Differences in the host environment demands and conditions mean that overseas subsidiaries have to operate independently. This is common where departing from established practices in host environments is unlawful. For example, in some Germany, there is a legal obligation to negotiate with employee representatives concerning major organizational changes. In other cases, transferring practices may be legal but would go against traditional practices at the risk of losing goodwill from staff. Firms may decide to forgo HQ control if there is the possibility to exploit most efficiently the local labor markets. For example, MNCs which origin from high-cost highly regulates economies such as Germany may well choose not to transfer important elements of their HR systems. Such as collective bargaining or apprenticeship if they move to lower wage, lightly regulated economies such as China.
Integrative: It is also argued that the more management processes and activities can integrate across geographical boundaries. The easier it is to share resources and knowledge. They can identify and best use the skill and management talent. That exists across the MNC network allowing for both global integration and local differentiation.
As mentioned previously, international HRM processes consist of the same activities as domestic HRM but applied in an international context. These include an accurate human resource planning to ensure that the MNCs have the right people at the right place around the world. Good staffing policies that capitalize on the worldwide expertise of expatriates and locals. Performance appraisals that fit with the competitive strategies of the HQ. Adequate training and development to ensure that expatriates. Do not suffer from ‘culture shock‘ and compensation policies that are strategically and culturally relevant. The focus in international HRM strategy is how MNEs coordinate. Their geographically dispersed operations strengthening the organizational culture. Promoting commitment and encouraging willingness in employees to act in the interests of the firm.
Reference
1. International Human Resource Management – https://www.civilserviceindia.com/subject/Management/notes/international-human-resource-management.html
2. Comparative HRM – https://answers.yahoo.com/question/index?qid=20110221002250AApRjIq
3. Difference between International and Comparative HRM – https://www.ukessays.com/essays/business/difference-between-international-and-comparative-hrm.php
What is Difference of Advantages and Disadvantages of Diversity Management?
What is a Diversity Management? In recent years, diversity is increasingly perceived as an important issue in the context of business management. This is due to the increasing differences in the population, globalization process, increasing of international business and cross borders business dealing activities. In the business community, companies have also tend to pay more focus on diversity and look for ways to reap the opportunities offered by diversity as they acknowledge that diversity has the potential of yielding greater productivity and competitive advantages. Apparently, managing and valuing diversity is a key component of effective people management, which not only can improve workplace productivity, but also contribute significantly to the strategic objectives of human resource management.
Advantages of Diversity Management in Workplace
Diversity can be a sort of strategy which enables organization to gain competitive advantage in the market competitive landscape. Managing cultural diversity is one of the key factors differentiating a particular company at factors such as (1) efficient work practices or procedures, (2) technological innovation or change, (3) product or services related innovation and lastly, (4) client or consumers related services.What is Need? The Do and Don’t in Diversity Management!
However, there are more contributions of managing diversity to the strategic objectives of a company.
Improved and enhanced competencies in terms of customer services. As a matter of fact, diverse workforce will often means diverse expertise, talent, experience and capabilities in the employees. If a manager understands the intricacies and complexity of how to manage diversity effective, he will be able to put the right person into the correct position, by minimizing his weaknesses while enhancing the particular employee’s strength. From this perspective, a diverse workforce enables a manager to choose the correct candidate for a particular position in the organization.
Able to compile and improve the strength of customer intelligence. As we employ diverse workforce, we can indirectly tap into the knowledge and experience of these workforce. In the era of information, we understand that marketing intelligence or customer intelligence has becoming more and more important. Diversity in workforce in this picture can help a company to compile and collect more relevant and effective data on the market place.
Ability to operate effectively as well as efficiently in a global context. As a well known fact, the entire world is a colorful depiction of diversity. Thus, to go global, a diverse workforce is some sort a basis requirement. We simply need the local experts to assist us in managing business units at foreign countries or simply to expand market share in the other countries. Thus, it is not hard for us to understand that a diverse workforce will enable a company to operate more effectively and efficiently.
Able to produce more satisfied workforce, and thus leading to more productive workforce. If a company can manage diversity in a proper way, then the individual employee will no longer need to clone or purposely changed himself to adaption of the corporate culture. This can often leads to a more satisfied workforce. A more satisfied workforce, will in turn, leads to more productive workforce.
Effective managing of diversity enables reduction in industrial disputes. Of course, proper management of diversity can also ensure less industrial dispute or court case arises from employees’ issues.
Diverse workforce can lead to increased creativity and innovation. Diversity can produce synergy and creativity and innovative as well. A group of different people is better than a results produced by a single person. The combined efforts are always much outstanding.
Having better chance to attract higher quality employees from a larger pool of employees. As a company prepare or has already adopted the mindset of having diversity is beneficial. Then the company automatically access to a diverse pool of human talents. Which means that the company can choose the employees from a larger pool of workforce. As now the choices are enlarged, then we can have access to better talents around the world. Or in other words, we can access to the world class talents around the globe.
Disadvantages of Diversity Management in Workplace
Poorly integrated heterogeneous groups can be as damaging to the organization as overly integrated homogeneous groups. Apparently, managing diversity is an art. While although the contribution to a company strategic management picture is bright, the execution is nothing easy. Besides, unfortunately, there are also evidences that diversity can bring disadvantages to companies as well.
For example, it is found that teams with diverse employees usually take longer to perform effectively. Besides, diversity also brings numerous communication problems as well as “faultiness” in informal group dynamics. At some serious cases, diversity can also be a source of conflict. That can cause issues such as reluctant to share information among workforce. Employee morale deterioration problems, and higher turnover due to degradation of job satisfaction.
For example, if handled insensitively, a diversity management program may invade employee privacy. Also, implementation of the diversity management program may be expensive in the short term. Apart from that, during the implementation process, deep seated prejudices within employees may be brought into the open, causing short-term tension. Particularly for a poorly handled program, conflicts and ill-feeling may be the end results for managers to handle.
