Cultural Diversity is a source of international competitive advantage

Essay from the year 2005 in the subject Leadership and Human Resource Management - Miscellaneous, grade: 63% - B, Cardiff University, 20 entries in the bibliography, language: English, abstract: Companies all over the world have always tried to create and capitalise on competitiveadvantages, ensuring profitability and long term survival. Due to the increasing competitionin most markets, mainly caused by globalization, liberalisation and better information of thecustomers, the need to gain advantages in competition is now more essential than ever.This essay, labelled Cultural diversity is a source of international competitive advantage.Critically evaluate, shall point out the complexity of this topic.What business strategy is all about; what distinguishes it from all other kinds of businessplanning - is, in a word, competitive advantage. Without competitors there would be noneed for strategy, for the sole purpose of strategic planning is to enable the company togain, as effectively as possible, a sustainable edge over its competitors. Keniche Ohnae(http://www.quotationspage.com/quote/8183.html: accessed on 30.11.2005)Michael Porter, professor at the Harvard Business School, stated that competitiveadvantages depend on different factors like the availability of resources, the size andsophistication of the market or the type of strategic networks. (Schneider and Barsoux,1997) He also said that choosing the right strategies make the company unique, buildbrand reputation or set the right goal. (Porter, 2005)In general, competitive advantage is often associated with specific business operationslike mentioned above.Little people think that also cultural diversity provides a source of competitive advantage. [...]