Reference no: EM132712104

In many newly independent third-world countries, that were former colonies of Great Britain, State-owned Enterprises (SOE) were set up primarily through acquiring majority share-ownership of large foreign export-oriented companies that controlled key economic resources of the country. These were primarily staffed by the majority ethnic population of the land who whilst educated in good foreign universities, they lacked the business acumen that comes from experience in running their own businesses internationally. Many of these companies are struggling to compete globally. They also lack diversity management and inclusion policies due to nationalistic belief that only their own ethnic groups should run these companies.

According to Otaye-Ebede (2019), diversity management based on economic imperative is needed to increase the diversity of employees within organisations to reflect the diversity of the market and more importantly increase bottom-line performance. Furthermore, it has been argued that Human resource management of organisations needs to reflect the growing interest in the concept of inclusion (Kumra and Manfredi, 2012)

You have been hired as a HR Manager of one of these struggling SOEs and told to make a business case for adopting a diversity management policy. Critically compare and contrast the benefits of adopting diversity management versus adopting diversity management that incorporates the concept of inclusion in relation to relevant theories and principles. Accordingly make your recommendation. Please explain in detail