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#WMMA 5 USER TALENT POINTS PROFESSIONAL#

Moreover, local connections, native language skills, and cultural understanding can boost international business development exponentially.Īnd being more competitive ultimately means being more profitable. Understanding local laws, regulations, and customs, as well as the competitive landscape, can help a business to thrive. Often, a product or service needs to be adapted to succeed overseas. Benefit: Local market knowledge and insight makes a business more competitive and profitableĪ multicultural workforce can give an organization an important edge when expanding into new markets. A recent study from Forbes echoed this notion, concluding that “the best way to ensure the development of new ideas is through a diverse and inclusive workforce.”Ģ. By offering a platform for the open exchange of ideas, businesses can reap the biggest benefits of diversity in the workplace. Multiple voices, perspectives, and personalities bouncing off one another can give rise to out-of-the-box thinking. For example, cosmetic giant L’Oréal attributes much if its impressive success in emerging markets to its multicultural product development teams.

#WMMA 5 USER TALENT POINTS PROFESSIONAL#

A variety of viewpoints along with the wide-ranging personal and professional experience of an international team can offer new perspectives that inspire colleagues to see the workplace-and the world-differently.ĭiversity of thought has been shown to breed creativity and drive innovation, helping to solve problems and meet customer needs in new and exciting ways. Our culture influences the way in which we see the world. Benefit: Diverse cultural perspectives can inspire creativity and drive innovation

Conflicting working styles across teamsġ.

Different understandings of professional etiquette.

Navigating visa requirements, employment laws, and the cost of accommodating workplace requirements can be difficult.

Professional communication can be misinterpreted or difficult to understand across languages and cultures.

Integration across multicultural teams can be difficult in the face of prejudice or negative cultural stereotypes.

Colleagues from some cultures may be less likely to let their voices be heard.

Greater opportunity for personal and professional growth.

Diverse teams are more productive and perform better.A diverse skills base allows an organization to offer a broader and more adaptable range of products and services.Drawing from a culturally diverse talent pool allows an organization to attract and retain the best talent.Cultural sensitivity, insight, and local knowledge means higher quality, targeted marketing.Local market knowledge and insight makes a business more competitive and profitable.

Diverse cultural perspectives can inspire creativity and drive innovation.As our students develop into the global business leaders of tomorrow, they can certainly expect to encounter these 13 key benefits and challenges of cultural diversity in the workplace. Our mission is to prepare our students to thrive in a fast-paced, unpredictable, and fundamentally international business environment. But with benefits necessarily come challenges of working across borders, cultures, and languages.Īt Hult, diversity and global mindedness are integral to our DNA. Embracing cultural diversity in the workplace is an important first step for businesses that want to be competitive on an international scale.įrom the Virgin Group to Disney and PricewaterhouseCoopers, organizations across industries are embracing the benefits of a diverse workforce. As national politics and discourse seem to grow more inward-looking and divisive across America and Europe, successful businesses must continue to think inclusively and globally.