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Diversity and multiculturalism as a strategy for strengthening Micro, Small and Medium Enterprises (MSMEs) in the global market

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  • Perumal, Koshy

Abstract

Managing multiculturalism is indeed a challenge both at the, governance as well as managerial levels. Organisations are increasingly realising vast diversity within the global market and devising strategies to make the most out of it. Why is multiculturalism being adopted as a leading corporate value? What are the rationality behind it in terms of profit generation and operations of a business? How are large corporates managing diversity? What are the lessons for Indian Micro, Small and Medium Enterprises? And why should MSMEs take them into consideration? Cultural competence and cultural literacy are very crucial in the global market place, both for companies as well leadership. The caste, creed, community and language proclivities of an employer in India could invariably reflect in the recruitment and HR policies of an organization. But such prejudices, when assuming overwhelming proportions, could be detrimental to peace, progress and development, and above all, national integration. Educational expansion and empowerment: With India’s diverse groups of communities from different cultural backgrounds getting empowered and achieving educational attainments, it’s going to be the MSMEs that they would be absorbed in, since MSMEs are the largest employment generation sector in the country. But how far MSMEs are equipped to manage worksite diversity? This paper addresses challenges and opportunities for MSMEs in the multicultural global market.

Suggested Citation

  • Perumal, Koshy, 2010. "Diversity and multiculturalism as a strategy for strengthening Micro, Small and Medium Enterprises (MSMEs) in the global market," MPRA Paper 20194, University Library of Munich, Germany.
  • Handle: RePEc:pra:mprapa:20194
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    File URL: https://mpra.ub.uni-muenchen.de/20223/1/MPRA_paper_20223.pdf
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    References listed on IDEAS

    as
    1. Das, Maitreyi Bordia, 2008. "Minority status and labor market outcomes : does india have minority enclaves ?," Policy Research Working Paper Series 4653, The World Bank.
    2. S. Narayan, 2009. "India," Chapters,in: The Political Economy of Trade Reform in Emerging Markets, chapter 7 Edward Elgar Publishing.
    Full references (including those not matched with items on IDEAS)

    More about this item

    Keywords

    Diversity Management; Micro; Small and Medium Enterprises (MSMEs); Global Market ; Multiculturalism ; WTO; Small Businesses ; Economy ; Labour Management; Human Resource Management in SMEs;

    JEL classification:

    • M0 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - General
    • M3 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Marketing and Advertising
    • M00 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - General - - - General
    • J61 - Labor and Demographic Economics - - Mobility, Unemployment, Vacancies, and Immigrant Workers - - - Geographic Labor Mobility; Immigrant Workers
    • J82 - Labor and Demographic Economics - - Labor Standards - - - Labor Force Composition

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