Analysis of the Company. Game Theory
Congleton, R. & Ostrom, E. (2005). Understanding Institutional Diversity. Public Choice, 132 (3-4); 509-511.
The purpose of this article was to develop a set of strategies to mitigate the serious issues faced by organizations concerning the losses of the commons. Before trying to develop strategies to manage a diverse workforce, the authors acknowledge that there is a need to first have a full understanding of the institution which entails understanding the hierarchy of rules, the members constituting the diverse pool among others (Congleton & Ostrom, 2005). This will then make it possible for the organization to clearly understand the necessary steps that need to be undertaken to mitigate the loss of the commons.
The authors employed game theory in analyzing institutions. In this section, they identified individual actors, specified motives, describe the rule of behavior as well as outlined possible outcomes. To them, outcomes can be linked to “economic efficiency equity, flexibility as well as accountability” (Congleton & Ostrom, 2005: 510)
The researchers used a variety of methods to collect data for instance they employed face-to-face communication, laboratory experiments as well as repeat contracting. The researchers established that in a diverse organization there are collective-action problems as well as social dilemmas in resource use. The effects of competition, a problem with poor communication, and limited cognitive process are addressed. Additionally, the article discusses collective action, issues of the common pool as well as how heterogeneity influences the use of resources. It is worth noting that the authors have talked about strategies, norms, and rules and contend that they are very important concepts to any organization. How the three concepts are implemented directly impacts the success of an institution in improving the welfare of human subjects.
According to Congleton & Ostrom, 2005 another important finding is nongroup members are not given access to resources while the group members are given which helps in reducing competitive pressure. However, there is a need for more to be done. According to the authors, the majority of common-pool issues can be dealt with through local collective action; however, this might not be successful if the group is very big and heterogeneous. Lastly “clear definition of boundaries, rational balance between benefits and costs, effective monitoring, sanctions as well as conflict resolution mechanisms are useful in dealing with a diverse organization” (Congleton & Ostrom, 2005: 509)
There is a direct link between this article and my final project. The framework used, methods used to collect data as well as the findings will be used to beef up my final project. The most important part is the strategies that can be adopted to successfully manage a common pool (Congleton & Ostrom, 2005).
Wentling, R. & Palma-Rivas, N. (1998). Current status and future trends of diversity initiatives in the workplace: Diversity experts’ perspective. Human Resource Development Quarterly 9 (3), 235-253.
The main purpose of the article was to establish the current status as well as future trends in diversity initiatives in the place of work. To accomplish this, the authors have looked into problems faced by diverse groups in terms of promotion, retention, career development among others.
The methods the researchers used to collect relevant data were through telephone interviews. This is where a sample of 12 experts was selected and contacted by telephone. This method has its advantages and disadvantages. For instance, it ensures that the data collected is authentic. However, it is expensive and data analysis is challenging (Wentling & Palma-Rivas, 1998).
Strategies for Managing Job Diversity
As suggested by Wentling & Palma-Rivas, 1998 the major reasons pushing organizations to manage a diverse workforce are to improve productivity, gain competitive advantage, form better relationships among the workforce, enhance social responsibility as well as deal with legal issues. Wentling and Palma-Rivas have dedicated their efforts to present the best strategies that organizations can adopt while trying to manage workplace diversity (Wentling & Palma-Rivas, 1998). For instance, the importance of employee training and development has been brought out clearly as one approach suitable in managing a diverse workforce. Others include open and effective communication, developing a culture where employees show respect to each other, managing performance among others.
The last section of the article concerns future trends relating to diversity as well as what constitutes an effective diversity training program. Wentling & Palma-Rivas, 1998 agree that organizations should brace themselves to handle a more diverse workforce since free movement of human capital is a continuous aspect. The success of handling a diverse workforce will indeed dictate the future success of a given firm. The training programs should have several attributes such as being conducted in a safe environment where workers are not judged, content for the training should be a combination of awareness, information among others.
The findings of the article will form a basis for my final project, for instance, I found the definition for a diverse workforce in this article is clear and simple. Additionally, the methodology section is important as it gives me limelight on what should be done when collecting primary data. While discussing my findings, I will also try to link with the findings of this great article.
References
Congleton, R. & Ostrom, E. (2005). Understanding institutional diversity. Public Choice, 132 (34), 509-511.
Wentling, R. & Palma-Rivas, N. (1998) Current status and future trends of diversity initiatives in the workplace: Diversity experts’ perspective. Human Resource Development Quarterly, 9 (3), 235-253.