IDEAS home Printed from https://ideas.repec.org/a/but/manage/v32y2020i1p87-97.html

The importance of diversity management, creativity and innovation in creating a successful company

Author

Listed:
  • Marius Savin

    (Academy of Economic Studies, Bucharest, Romania)

  • Aurora Cosma

    (Academy of Economic Studies, Bucharest, Romania)

Abstract

This conceptual and discursive paper argues that diversity is a recognizable source of creativity and innovation that can provide a basis for competitive advantage. On the other hand, diversity is also a cause of misunderstanding, suspicion and conflict in the workplace that can result in absenteeism, poor quality, low morale and loss of competitiveness. Firms seeking competitive advantage therefore face a paradoxical situation. If they embrace diversity, they risk workplace conflict, and if they avoid diversity, they risk loss of competitiveness. The advantages and disadvantages associated with workforce diversity put organizations in a position of managing a paradoxical situation. To give support to this assertion, the paper considers what is meant by diversity, how it is best managed, what its relationship with creativity and innovation might be and how the problems created by the management of diversity, creativity and innovation might be resolved

Suggested Citation

  • Marius Savin & Aurora Cosma, 2020. "The importance of diversity management, creativity and innovation in creating a successful company," Manager Journal, Faculty of Business and Administration, University of Bucharest, vol. 32(1), pages 87-97, December.
    • Handle: RePEc:but:manage:v:32:y:2020:i:1:p:87-97
    as

    Download full text from publisher

    File URL: https://manager.faa.ro/archive/manager_32/m_32_87_97.pdf
    Download Restriction: no
    File URL: https://manager.faa.ro/archive/manager_32/m_32_87_97.pdf
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Sorin-George Toma & Shinji Naruo, 2017. "Total Quality Management and Business Excellence: The Best Practices at Toyota Motor Corporation," The AMFITEATRU ECONOMIC journal, Academy of Economic Studies - Bucharest, Romania, vol. 19(45), pages 566-566, May.
    2. Paul Marinescu & Sorin-George Toma, 2017. "Creativity and innovation in management," Manager Journal, Faculty of Business and Administration, University of Bucharest, vol. 25(1), pages 147-154, May.
    3. Don Knight & Craig L. Pearce & Ken G. Smith & Judy D. Olian & Henry P. Sims & Ken A. Smith & Patrick Flood, 1999. "Top management team diversity, group process, and strategic consensus," Strategic Management Journal, Wiley Blackwell, vol. 20(5), pages 445-465, May.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Daniel RUSU, 2021. "The Effect Of Internal And External Factors On Strategic Management For Innovation Processes At The Company Level," Proceedings of the INTERNATIONAL MANAGEMENT CONFERENCE, Faculty of Management, Academy of Economic Studies, Bucharest, Romania, vol. 15(1), pages 408-418, November.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Patzelt, Holger & zu Knyphausen-Aufseß, Dodo & Fischer, Heiko T., 2009. "Upper echelons and portfolio strategies of venture capital firms," Journal of Business Venturing, Elsevier, vol. 24(6), pages 558-572, November.
    2. V. K. Taysaeva, 2026. "The Concept of Top Management Teams: A Systematic Review of the Research Discourse," Strategic decisions and risk management, Real Economy Publishing House, vol. 17(1).
    3. Olson, Bradley J. & Bao, Yongjian & Parayitam, Satyanarayana, 2007. "Strategic decision making within Chinese firms: The effects of cognitive diversity and trust on decision outcomes," Journal of World Business, Elsevier, vol. 42(1), pages 35-46, March.
    4. Pierpaolo Parrotta & Dario Pozzoli & Mariola Pytlikova, 2014. "The nexus between labor diversity and firm’s innovation," Journal of Population Economics, Springer;European Society for Population Economics, vol. 27(2), pages 303-364, April.
    5. Baik, Kibok & Kim, Kyoung Yong & Patel, Pankaj C., 2019. "The internal ecosystem of high performance work system and employee service-providing capability: A contingency approach for servitizing firms," Journal of Business Research, Elsevier, vol. 104(C), pages 402-410.
    6. Amanpreet Kaur & Balwinder Singh, 2017. "Construing Reputation from Gender Diversity on Boards," Paradigm, , vol. 21(2), pages 111-125, December.
    7. Aurora Cosma & Marius Savin, 2020. "Innovations and Discoveries in Medicine During the Covid 19 Pandemic," Manager Journal, Faculty of Business and Administration, University of Bucharest, vol. 31(1), pages 7-15, December.
    8. Adams, Renée B. & Akyol, Ali C. & Verwijmeren, Patrick, 2018. "Director skill sets," Journal of Financial Economics, Elsevier, vol. 130(3), pages 641-662.
    9. Tjaša Bartolj, 2023. "Should Firms Strive for the Educational Diversity of the Workforce? Estimation of the Impact of Firms’ Educational Structure on Sales Growth and Exports," SAGE Open, , vol. 13(1), pages 21582440231, February.
    10. Sonja Sperber & Christian Linder, 2018. "The impact of top management teams on firm innovativeness: a configurational analysis of demographic characteristics, leadership style and team power distribution," Review of Managerial Science, Springer, vol. 12(1), pages 285-316, January.
    11. Corrado Cuccurullo & Federico Lega, 2013. "Effective strategizing practices in pluralistic settings: the case of Academic Medical Centers," Journal of Management & Governance, Springer;Accademia Italiana di Economia Aziendale (AIDEA), vol. 17(3), pages 609-629, August.
    12. Ramos-Garza, Claudia, 2009. "TMT strategic consensus in Mexican companies," Journal of Business Research, Elsevier, vol. 62(9), pages 854-860, September.
    13. Purkayastha, Anish & Karna, Amit & Sharma, Sunil & Bhadra, Dhiman, 2021. "Board’s human capital resource and internationalization of emerging market firms: Toward an integrated agency–resource dependence perspective," Journal of Business Research, Elsevier, vol. 135(C), pages 391-407.
    14. Rivas, Jose Luis, 2012. "Diversity & internationalization: The case of boards and TMT's," International Business Review, Elsevier, vol. 21(1), pages 1-12.
    15. Byrka-Kita, Katarzyna & Czerwiński, Mateusz & Preś-Perepeczo, Agnieszka & Bajerska, Aurelia, 2025. "National board heterogeneity versus firm risk in times of war: Evidence from the Crimean crisis," International Review of Financial Analysis, Elsevier, vol. 104(PA).
    16. Daniel Nepelski & Giuseppe Piroli, 2018. "Organizational diversity and innovation potential of EU-funded research projects," The Journal of Technology Transfer, Springer, vol. 43(3), pages 615-639, June.
    17. Angels Niñerola & Ana-Beatriz Hernández-Lara & María-Victoria Sánchez-Rebull, 2022. "Top Management Team Diversity and International Expansion: Spanish Companies in China," SAGE Open, , vol. 12(1), pages 21582440211, January.
    18. Seemantini Pathak & Codou Samba & Mengge Li, 2021. "Audit committee diversity and financial restatements," Journal of Management & Governance, Springer;Accademia Italiana di Economia Aziendale (AIDEA), vol. 25(3), pages 899-931, September.
    19. Fernando Martin-Alcazar & Pedro M. Romero-Fernandez & Gonzalo Sanchez-Gardey, 2012. "Effects of Diversity on Group Decision-Making Processes: The Moderating Role of Human Resource Management," Group Decision and Negotiation, Springer, vol. 21(5), pages 677-701, September.
    20. Aegean Leung & Maw Der Foo & Sankalp Chaturvedi, 2013. "Imprinting Effects of Founding Core Teams on HR Values in New Ventures," Entrepreneurship Theory and Practice, , vol. 37(1), pages 87-106, January.

    More about this item

    Keywords

    ;
    ;
    ;
    ;

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:but:manage:v:32:y:2020:i:1:p:87-97. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Cosmin Catalin Olteanu The email address of this maintainer does not seem to be valid anymore. Please ask Cosmin Catalin Olteanu to update the entry or send us the correct address (email available below). General contact details of provider: https://edirc.repec.org/data/faaubro.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.