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In this report, OmniBanks Diversity Efforts case study would be taken into account to illustrate the significance of diversification in the contemporary workplace

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Introduction

ASSINGMENT 2: INDIVIDUAL WRITTEN REPORT [Weight 30%] CROSS CULTURAL COMMUNICATION FOR EFFECTIVE LEADERSHIP AND MANAGEMENT [BG008] BACHELOR OF COMMERCE [Term 3: July - September 2012] OMNIBANK?S DIVERSITY EFFORTS By: Truong Hoang Tam Phu [002UW712] Supervised by: Randal J. Almquist Presented to The Faculty of the Department of Business Submitted: August 24th, 2012 EXECUTIVE SUMMARY In this report, OmniBank?s Diversity Efforts case study would be taken into account to illustrate the significance of diversification in the contemporary workplace and simultaneously present the applicable solutions for the bank specific diversity issues. OmniBank, despite the medium-size that this suburban bank possesses, is growing at speed and concurrently satisfying the demands of individuals as well as small businesses. Although the bank enjoys a profound customers base from different profiles, ethnicities and a large number of international customers as well as student customers with their ?starter? account, OmniBank?s personnel seems not to be able to fully exploit the full benefits from its diverse customer backgrounds due to the homogeneity of the incumbents? backgrounds as they are mostly male and mainly Caucasian. What is more, the bank seems to be insufficient in providing modern services to meet the demand of student customers as they soon move on to college and would be likely to require more up-to-date and convenient ways of transaction. After taking a closer look on the issues, it is believed that the diversity need to be definitely valued and that expanding the bank?s employee base and social networks as it grows will turn to every constituency?s advantage. Moreover, the process makes good business sense. ...read more.

Middle

OmniBank is making every effort for maintaining and fostering the sense of respect and mutual trust in the workplace. This will not only create harmony among diverse constituencies but also promise auspicious outcomes regarding the economic benefits as well as the bank?s reputation and prestige with its customers and business partners. In the light of this charter, OmniBank diversity committee pledges to: 1. Coaching an organizational culture operating relies on mutual respect and recognition of each and every single individual. With the definite support from the bank superiors, the committee endeavors to offer possible opportunities and favorable atmosphere for everyone, from the top management to employees to treasure, appreciate and put into effect. 2. Managing and ensuring the bank?s current human resource system will be accordant with the capabilities of the employees as well as with the whole organization?s capacity level. 3. Identifying the existing and forthcoming diversity within and beyond the organization border in order to impart to the bank?s constituencies to compatibly and profitably employ for the bank?s prosperity. 4. Assuring that the proclamation and application of the Charter will be widely acknowledged and be a subject matter for internal and external communication. 5. Publicly announcing on a regular basis regarding the committee?s efforts and accomplishments for the encouraging and promoting purpose in terms of fostering diversity. 6. Communicating and keeping the bank?s constituencies posted as well as zealously be a part of the Charter?s implementation. The OmniBank?s Diversity Committee positively reassures that the acknowledgment and application toward the goal of greater diversity initiative will result in positive effects on both at the bank and in community outreach. ...read more.

Conclusion

1. Conducting Diversity Affairs Forum Diversity concerns seminars, conferences should be conducting on a regular basis where employees might be introduced and might get familiar with the diversity backgrounds, cultures, situations may occur in the workplace among employees and among employees and customers. The moderators leading the forum must have knowledge and experience in specific topics who can coach in critical information, trigger open discussions among the members and put substantial efforts to embrace the participation of the diverse individuals. Thus, the diversity barriers would be likely to put down. 1. Customizing product/service for potential target market OmniBank need to attach special importance and efforts in creating more functions in terms of e-statement, mobile banking and internet banking with special offers such as no minimum balance account, self-service banking as an example of cash deposit, shopping online payment, quick check deposit, etc. for young adults, especially students when they reach college and expect more convenient ways of making transactions. As college/universities might make up a considerable proportion in the potential target market, it is more than an urge to retain them with the bank as long as possible. V. REFERENCE Iris Varner & Linda Beamer (2011). Intercultural Communication in the Global Workplace. Singapore, PA: The McGraw-Hill Companies. Deborah J. Barrett (2010). Leadership Communication. Singapore, PA: The McGraw-Hill Companies. Church, A.H. (1995). Diversity in workgroup settings: a case study. Leadership & Organization Development Journal, 16, pp. 3-9. Retrieved from ProQuest database. American Water Works Association. (n.d.). How to Establish and Operate a Diversity Program. Retrieved from http://www.awwa.org/files/Sections/howto/Howto_diversity.pdf. Marion Keil, Badrudin Amershi, Stephen Holmes, Hans Jablonski, Erika Luthi, Kazuma Matoba, Angelika Plett & Kailash von Unruh (2007). Training Manual for Diversity Management. Retrieved from ec.europa.eu/social/BlobServlet?docId=1474...en. ________________ | Page ...read more.

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