Standard Chartered and Dubai World The lending problem Essay

Standard Chartered and Dubai World The lending problem - Essay Example This paper focuses upon Standard Chartered Plc, a financial services company, which operates in more than 70 countries around the world. The headquarter of the bank in London, the United Kingdom. The company has entered different countries through the joint venture, subsidiaries etc. The operation of the company is diversified as it offers operations in consumer banking, institutional banking, and corporate banking also. Standard Chartered is listed on the London Stock Exchange; also it is the constituent of the FTSE 100 index. The company is also diversified globally as it offers services all the continents of the world. 90% of the revenue of the company comes from the Middle East and other Asian countries and Africa. The bank offers a diversified range of products including mortgage loans, investment banking, wealth management, corporate banking, wealth management services etc. Dubai World is among one of the main clients of Standard Chartered Bank. The investment company has faced credit crisis in the time of the financial recession and the main creditor of the company was Standard Chartered bank. The geographical presence of the company minimizes their risk. In a globalized world where the multinational companies have to face different political conditions, economic conditions in different countries, then only diversification can minimize the risk of the portfolio of the company. In the time of financial crisis of 2007-09, when all the markets throughout the world have broken, then the diversification helped the company to manage the situation.  

Diversity in the Workplace Coursework Example | Topics and Well Written Essays - 1000 words

Diversity in the Workplace - Coursework Example In addition to these groups of people, diversity also focuses on people belonging to other categories like, people having different educational background, different tenure with the company, different functional backgrounds and the resulting diversity from the mergers and acquisitions activity of organizations. Affirmative action is concerned with people who are experiencing issues related to discrimination based on color, ethnic groups, etc (Kravitz, 2008, p. 175). However, managing diversity is more related to the desire of the manager of a company to explore the potentials present in all the employees. Thus, affirmative action is only a means of attaining diversity in an organization through the implementation of various policies and diversity is a broader concept which is the end result of affirmative action. Answer 2: Cultural diversity in workforce mainly refers to the various types of people that work in an organization and can be differentiated on the basis of their race, gen der and ethnicity. In a culturally diverse workforce one can find people who have different cultural values (Pride, Hughes, & Kapoor, 2011, p. 253). According to Esty, Griffin & Hirsch (1995), they have suggested ten different dimensions of diversity which are thought to be the critical in a workplace. They are: 1) Sexual Orientation, 2) Class, 3) Ethnicity, 4) Age, 5) Race, 6) Hierarchy or Status, 7) Gender, 8) Religion, 9) Physical ability or disability, and 10) Family situation. Hence, people working in a workplace can be differentiated based on any of these cultural dimensions. Organizations having culturally diverse workforce are characterized of having people who have different cultural values and varies with respect to the dimensions mentioned above. Answer3: Managing a diverse workforce is not an easy task and is associated with many challenges to be faced by the leaders in an organization. Diversity management is not restricted to acknowledging the differences that exist be tween people working in an organization. It also involves the recognition of values associated with such differences between people, promoting inclusiveness and combating discrimination. The leaders of an organization managing a diverse workforce may also face the challenge of losing the personnel or reduction in work productivity because of discrimination, prejudice, legal actions and complaints against the organization. In addition to this, negative behaviors or attitudes can prove to be barriers for an organization because this can result in having a negative impact on the working relationships between the employees and reduce the work productivity and morale of the people. The negative behaviors or attitudes that have been referred here include stereotyping, prejudice, and discrimination and it should not be utilized by the company management while performing activities like retention, hiring, and termination of employees. Answer4: Increasing diversity in the workforce of an org anization needs implementation of an effective diversification strategy. By following the four steps mentioned below it is possible to increase diversity in the companies. Step 1: Explaining diversity for the company: The first step is to define and explain what diversification implies to the company as a whole. It is an important step to initiate diversity because the term diversity carries different meaning for different people in the organization.