The Top Ten Business Responses to Marketplace Diversity

On October 22, 2009, In cultural diversity, By admin

The Top Ten Business Responses to Marketplace Diversity [i]

The combined purchasing power of ethnic group markets, according to Ethnic Trends is estimated to be $1.275 trillion dollars (African Americans $545 billion, Hispanic $460, Asian American $244). Each ethnic group’s purchasing power exceeds the GDP of more than 150 foreign countries. The marketplace is changing as a result of these demographic shifts.

All facets of business face the challenge of attracting these demographic groups with adequate strategies. The following is a list of questions your organization needs to address in developing the strategies.

  1. How has our organization traditionally segmented the markets and customers?
  2. What are we doing to discover how changing demographics may affect our traditional segments?
  3. What preliminary information do we have about new market segments?
  4. How do we begin learning about new segment customers in as much detail as needed?
  5. How can we conduct valid and reliable market research so that we know as accurately as possible what their interests and needs are?
  6. What are the economic consequences of not being able to compete for the products and services they want to buy?
  7. How do we assess our market plan to make sure we are on track, and our advertising approaches to avoid cultural blunders?
  8. How do our products and services compare to competitors’ or industry standards in terms of innovation, quality, desirability, and delivery?
  9. Have our marketing and service deliver teams launched the marketing campaign in a timely manner?
  10. Is the company gaining a share of the market and holding on to it? If so, why and at what cost?

The first order of business is to develop an ethnic marketing initiative. If you have one in place, assess the extent that your staff and sales force has the cultural competence needed to maximize the effectiveness of implementing the action plan. Keep in mind that it is not enough to put together a dynamite plan. Cultural competence safely drives the action plan past the landmines and over the obstacles of ethnic marketing.

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[i] Based in part on Cultural Diversity at Work 10:2 (Nov 1997), p 14.

 
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The Top Ten Ways to Link Diversity to Human Capital

On October 21, 2009, In Consulting & Training, By admin

Recent innovations in human resource management and organizational development provide us with the insights into how to make a modern case for diversity and inclusion funding. The main focus of the contemporary approach is on strategically promoting diversity as an asset. Identifying how diversity provides human capital that can positively affect the bottom line fits the organization’s resource allocation models. Professionals can specify more clearly funding need, and identify the return on investment.

The following list of secrets for linking diversity to human capital will help you develop your strategy.

  • 1. Consider how to link the need for diversity training to the organization’s mission2. Consider how to link the need for diversity training to the organization’s core values.

    3. Link what people know and can do to the organization’s performance.

    4. Consider how the intangible human capital assets generate tangible benefits.

    5. If your office is not separate from human resources, try form an alliance with that office. Teaming with them to come up with a strategy for making the link will serve their budgeting needs as well.

    6. Work with HR to identify the key diversity drivers.

    7. Argue for a budget to link selection and promotion decisions to competencies needed for each job category.

    8. Link diversity competence to compensation and performance policies.

    9. Understand your organization’s financial picture thoroughly to identify how your budget request fits within the overall scheme.

    10. Measure the results of your budgeted activities to maximize your effectiveness in obtaining reasonable funding for diversity and inclusion.

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    HRCI has approved the DTUI.com CDP Seminar for PHR, SPHR and GPHR recertification

    On October 13, 2009, In News, By admin

    Press Release

    HRCI has approved the DTUI.com Cultural Diversity Professional Seminar for 32.5 (General ) credit hours toward PHR, SPHR and GPHR recertification

    San Francisco, CA., October 9, 2009:  The Human Resource Certification Institute (HRCI) approved the DTUI.com LLC Cultural Diversity Professional (CDP) intensive 5-day training seminar for 32.5 (General) credit hours towards PHR, SPHR, and GPHR recertification.

    DTUI.com LLC (aka Diversity Training University International) is a free standing corporate university that provides diversity managers and trainers with tools, professional certification, seminars, webinars, and consulting services. The organization’s mission is to promote the diversity profession, champion diversity expertise, and contribute knowledge to advance diversity education.

    Billy Vaughn, PhD CDP founded DTUI.com in the late 1990s. Since then, the organization has trained and certified diversity professionals across the globe, including Canada, the United States, Germany, Sweden, Belgium, The Netherlands, Nigeria, Japan, India, and Mexico—just to name a few. Most participants in the CDP program are HR executives or individuals serving as cultural diversity professionals. Examples of their roles include multicultural education resource professionals in small colleges (Arbor University), HR professionals with additional cultural diversity responsibilities (Gateway Healthplan), and seasoned Chief Diversity Officers in Fortune 50 companies (W. W. Grainger Inc.).

    Participants learn state-of-the-art high impact diversity and inclusion strategies. In the first half, they learn how to design, develop, and implement diversity initiatives for modern organizations in the first half of the seminar. In the second part, they learn how to facilitate discussions about cultural diversity, manage resistance, and to strategically onboard the organization. The program consistently receives very high participant evaluation scores and great testimonials. Testimonials indicate that participants find the instructors very knowledgeable, the content very practical, and their level of learning excellent. An independent benchmark study highlights DTUI.com’s stellar customer service.

    If you’d like more information about this seminar, please go to http://www.dtui.com/conferences.html. You can contact Gina Quinlan at +1.415.692.0121, 888.288.1603, or email her at gina@dtui.com.

     
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