The Relationship Between Firm Performance and Corporate Term Paper

The Relationship Between Firm Performance and Corporate Diversification - Term Paper Example It is the hope of this author that such an identification and understanding be helpful in further defining diversity and exposing the way in which further productivity can be had; thereby leading an organization to experience a benefit. Overview of Issues and Definitions: Although there are currently many definitions of what diversity ultimately means, for purposes of this brief analysis, it will be defined as the extent and level to which the organization/entity in question is able to effectively represent the realities of the environment within which it operates. Ultimately, such a definition implies that diversity in an of itself should be a means by which the organization seeks to reflect the racial, ethnic, and religious realities of both the market that it seeks to compete within and the population that it draws from stop in such a way, such a broad definition allows for this level of diversity not only impact upon the way in which healthcare provision is conducted within a par ticular region but also have far-reaching applications with regards to how individuals interact with and represent those populations with which they seek to provide healthcare solutions for. Diversity cannot and should not be understood as merely trying to fill slots within a corporate structure. Instead, qualified individuals that can both represent the needs of the firm/entity as well as promote further diversity are the ones that should be hired. Under no circumstances should a business entity, or any other entity for that matter, ever engage in seeking to hire specific race, gender, or ethnicity. Ultimately, such process, although oftentimes engaged in the desire to promote diversity is the polar opposite of what equality should mean for all applicants. Ultimately, a final â€Å"no go† that should be referenced is the fact that the firm should be perennially aware of the fact that its diversity is very much a part of its culture. In such a way, the extent and level of imp ortance or lack of importance that diversity espouses is ultimately reflected within the culture of the firm at each and every level. Literature Review: In seeking to trace an understanding of diversity, the first article that will be mentioned within this brief literature review is entitled â€Å"Shifting the Diversity Climate† (Ringold & Feinstein, 2011). As such, Ringold and Feinsten point to the ways in which firms have recently made a marked shift towards seeking to promote greater degrees of diversity in the hopes that it could boost their success. Realizing that it is not possible for a firm to be profitable and exist and thrive in a market that is itself increasingly diverse, As such, the authors argue that firms have come to realize the means of capturing such a market was at least tangentially dependent upon the level of diversity they could represent (Hewlitt et al., 2013). A similar approach is made with respect to Anand and Winters’ (2008) analysis that so ught to integrate a further level of appreciation for the way in firms led the shift towards appreciating