Cases in Financial Management Essay

Case Synopsis Established in 1984 Laurentian Bakeries Inc. works in the business of assembling a huge assortment of solidified prepared items inside their three working plants in Montreal, Winnipeg and Toronto. The working plants produce things, for example, solidified pizza in Winnipeg, MB, pies in Montreal, QC and Cakes in Toronto, ON-with each speaking to 30%, 30% and 40% of the complete income stream individually. The purchasers for this organization incorporate enormous institutional customers such domino’s pizza, and so on which have an essentially more significant level of intensity while the merchant of the items comprises of a few food makers which have a moderately low degree of intensity. With the expense of setting up a plant of this scale being high, substitute items will likewise stay high in the market making the general net revenue be low. With the company’s progressing exertion for ceaseless improvement Danielle Knowles (VP of activities) proposed to extend one of the working plants in Winnipeg-which depended on the chance if the organization ventured into the U.S. showcase. Proclamation The announcement of the issue is the means by which Danielle Knowles will set up a capital task use proposition to extend the company’s solidified pizza plant in Winnipeg; which is steady and in accordance with the company’s capital assignment strategy. The proposition ought to likewise fulfill the company’s ceaseless exertion for development, ID of lost chances, fulfillment of HR and ecological effects and give adequate ROI. Situational Analysis The qualities of the organization are obviously noticeable through the company’s compelling tasks and respectable picture in the business. Being one of the main five in the business, Laurentian Bakeries has set up themselves as a predominant player in the market; be that as it may, with a lack in limit it canâ potentially overwhelm the qualities because of its negative effect on the organization. This remembers an abatement for deals and expected declines in retailer support. By and by, with the affirmation of a limit lack and a chance to extend and develop in the U.S. advertise the organization is by all accounts on favorable terms. Clearing out to an alternate zone among the opposition, all the items are comparative which demonstrate there is substantial rivalry. The nearness of various providers makes this industry profoundly serious, thus, there is high animosity among contenders. This is a main factor that shows this isn't an alluring business to be in. SWOT ANALYSIS Qualities * Danielle Knowles has involvement with the food business for a long time. This is an incredible advantage for the organization, since she can utilize her insight and encounter and apply it for Laurentian Bakeries so as to improve tasks or even maintain a strategic distance from mistakes. This consequently can conceivably spare the organization from causing extra costs. * Danielle has her Master’s in Business Administration which demonstrates that she is instructed and has the qualifications to keep up her situation as the VP of tasks. Additionally, Danielle can utilize that information and apply it to ordinary activities of the organization. * Laurentian has better than expected thought for human asset and natural effects. This advantages the organization to the degree that it makes an open mindfulness which demonstrates their promise to the network which consequently can conceivably be utilized as an advertising apparatus to pull in more deals. * Laurentian organization is one of the five enormous firms that produce solidified nourishments ruling 21% of the market. This shows they are a predominant player in the market and have endure numerous troubles from different rivalries. * Well settled and productive organization which demonstrates that they have endure one full monetary cycle and have withstood their opposition. * The organization has an enhanced income stream with three working plants situated in significant urban communities which are not as dangerous as a solitary income stream. * All three fragments are productive. * Low cost pizza maker which is assisting with venturing into the US. Market. * Laurentian Bakeries has a coordinated workforce, for example, deals, advertising, and so forth for the entirety of their working plants. Shortcoming * Shortage of limit. On the off chance that this shortcoming isn't managed the organization can confront misfortunes in their business in light of the deficiency. This consequently brings down the general benefit of the organization and can conceivably diminish purchasers on the off chance that they can't fulfill the need because of the deficiency. * Class 1 items are excessively hazardous and by taking such an incredible hazard any wrong doing can negatively affect the organization. Openings * Arrangement to flexibly enormous U.S. based basic food item chain with private mark brand. In the event that the open door is exploited the organization can conceivably observe higher figures in deals and benefits. * Since U.S. pizza utilization is 3x greater than the Canadian portion the general US advertise is greater which can possibly prompt a higher piece of the pie. * Within N.A. the economy is recuperating unassumingly and is relied upon to develop. This demonstrates buyer spending on optional things, for example, food items will stay solid. Dangers * Inflation is determined to stay between 3-5%. This may cause financing costs to rise making the expense of capital increment higher than its present level. Capital activities, for example, extension may endure. * North American development pace of GDP eased back down which may bring down the organization deals. * Threat of new contestants will build rivalry and is consistently a factor that makes the deals forceful. * Health Conscious shoppers will possibly influence deals because of the items offered by Laurentian Bakeries are considered â€Å"unhealthy.† With on-going wellbeing mindfulness the items offered by Laurentian Bakeries probably won't fulfill the changing need of buyers. Porter’s Five Forces Buyer’s Power * Mixed Power. * There are two kinds of purchasers: huge institutional purchasers such asâ domino’s pizza and pizza just as enormous retailers. A huge number of littler customers have less force in light of their present low demographic base. Provider Power * Low Power. * Pizza providers disseminate creation to pizza stores, eateries and staple chain stores. Since there are various providers in the market for fixings, for example, cheddar, flour, vegetables, and so forth they have low force. Boundaries to Entrant * High * Due to high capital costs, talented workforces, natural guidelines, high circulation channels, section into this industry is high. Danger of Substitute * High * The items offered by Laurentian, for example, their Pizza can be made at home or even bought straight from drive-thru eateries. Additionally they can without much of a stretch be fill in for different items, for example, calzone, sandwiches, tacos, and so on. Rivalry * High * There is high rivalry for the things offered by Laurentian Bakers. Rivalry for their pizza heated things can without much of a stretch be subbed through diversified eateries, for example, Pizza, Boston Pizza, Pizza Hut, and so forth additionally rivalry is high through different organizations offering similar merchandise. Likewise, this organization is additionally going up against other food items instead of solidified pizza alone. Budgetary Analysis Budgetary Summary: Laurentian Bakeries is seeing a money increment from $6.2 million of every 1993 to practically twofold its estimation of $13.1 million out of 1995. Simultaneously long haul obligation for the organization has expanded by $7.23 million which showed that Laurentian Bakeries is financed by its drawn out obligation and has not used its money and in this way has acquired extra premium costs. Moving over to the marketing projections, Laurentian Bakeries has seen an expansion of 11% from 1993-95; nonetheless, overall gain is level which demonstrates that their COGS and working costs have likewise risen nearly at a similar pace as deals. This mishap has no bit of leeway to the investors. Options 1. Proceed with unique intends to proceed with development in Winnipeg. 2. Assemble a plant in U.S. to oblige that showcase. 3. Purchase a current plant. 4. Extend the Toronto plant as it is the most grounded plant for the organization. Suggestions Via cautiously dissecting all the other options, we suggest elective one as the best fit answer for this organization because of it being generally handy at the company’s current circumstance. We firmly accept that proceeding with unique intends to grow in Winnipeg is the valuable answer for the organization as they as of now produce a similar sort of items and have the extra land to convey forward the development, since this plant is a minimal effort maker and is perfect to use the U.S private mark area. Likewise, this option is gainful on the grounds that it is reliable with the company’s in general targets. Given the markdown pace of 18% and a $5.2 million capital venture the NPV of the normal income is certain. Also, suggestion one is the most appropriate for this organization on the grounds that: * There is land promptly accessible in Winnipeg. This can set aside the organization some cash as far as the extension in light of the fact that these will bring about less of a cost due to Laurentian possessing the additional land space. * Building a plant in U.S. will require a great deal of capital, extra costs for employing, preparing, and so forth., and possible change underway, the board or different methods because of various guidelines in U.S. * Expanding in Toronto will likewise require extra capital and extra an ideal opportunity to recruit and train the workforce to deliver the pizza items which aren’t created in the Toronto office.

The Basics of Economics :: Economics

Financial matters is the examination and comprehension of the economy or the arrangement of government and individuals that manages cash and monetary things. Since the administration authorities didn't comprehend my report about the monetary changes that should help invigorate the economy, I have chosen to train them around barely any ideas about the economy and how it functions and how they can profit by me and utilize these ideas to settle on savvy and great choices to animate the economy. The primary thing I chose to show the administration authorities is financial opportunity. Individuals profoundly care about their financial opportunity, in this way, the administration needs to give the shoppers or individuals some opportunity. Individuals need to settle on their financial decisions; their activity or occupation, what they will do with their cash, what to create and how to deliver it. Another significant idea concerning the individuals is monetary value; individuals enormously esteem balance. Treating individuals reasonably without segregating between them is a significant guideline. In this manner, segregating based on age, sex, race, religion, or inability is unlawful. A model for monetary value would be insignificant pay; the most minimal legitimate compensation that can be paid to a laborer. Individuals who are not rich get influenced drastically by swelling; in this manner, individuals want to have value soundness. Value strength is significant in light of the fact that expansion can harm a ton of business and individuals, debilitating them to get in business and this lead the individuals to destitution and abhorring the legislature and doing mobs and strikes. Swelling can likewise toward the final product in expanding the percent of joblessness. Full jobs is when a large portion of the general public or about every last bit of it are utilized or have employments, individuals wish for this yet it will never appropriately be executed. Rivalry is the aftereffect of having opportunity in a monetary framework. Rivalry is something contrary to the restraining infrastructure; rivalry is the point at which the dealers battle to pull in the purchasers or shoppers. Rivalry exists in light of the fact that the individual business visionaries have the opportunity to pick their items. Rivalry benefits both the dealer and the purchaser. Numerous individuals perceive shortage and they need to realize how to manage it. Individuals realize that in the event that the assets are squandered, at that point the quantity of items will diminish and accordingly productivity in monetary choices is a clear thing. The administration must be proficient in taking care of the individuals' issues. Individuals trust in the financial development to increment since everybody needs to have an extravagant and pleasant life.

Writing a Scientific Essay - How to Write One

Writing a Scientific Essay - How to Write OneWhile writing a scientific essay is not as simple as it sounds, it can be done. This is not your typical essay and you need to take the time to think of a theme that goes along with the topic of the paper you are writing.As a freshman in a science course, I was inspired to write a research paper by a professor who was a professor of organic chemistry. He told me he had done such a research paper several years earlier but his grade was not very good. He said the students hated it because of the method that he used.The first part of the paper was about some project he did. Then it was about a trip he took in high school when he went to the mountains to discover the facts. Next was about a trip that his mom took him on and how she pointed out all the details that were not mentioned in the book.After this, he wrote about a middle section that featured an explanation of some controversy that he was involved in. There was a part about global war ming and another about oil drilling. It ended with how science is not perfect and some other topics were covered. It was pretty cool and interesting, but I did not do well in my class.When I was looking for ways to approach a science class, I found an instructor at a local community college who told me about some of the opportunities they had for their science courses. They have a class called 'Writing Science.' This class has sections that were taught in the same manner as mine but I was not given enough guidance and I did not know what to expect.This class was amazing. It was just like high school but this time the instructor put so much emphasis on communicating what I was trying to write. I got a B average and my teacher encouraged me to repeat the next semester.Writing a research paper can be done. It does not have to be easy or even enjoyable but it is important to know what the people who have done it before you did.There are many opportunities for science teachers and resear ch assistants to get into more creative ways of communicating information. It just takes time and attention to detail.

Gay Marriage Should Not Be Allowed Anywhere On This Earth.

Gay Marriage should not be allowed anywhere on this Earth. Charles Colson, a contributing editor of the Christianity Today magazine and a radio commentator, was against gay marriage in his article, he wrote â€Å"Gay â€Å"Marriage†: Societal Suicide.† Many people can flood both sides of this argument, but are mainly against gay marriages. Gay marriage is a sin, violates the natural law, children should be raised by a mother and father, and the rights should not be equal if they choose to disobey God. However, Katha Pollitt a poet and essayist, is all for gay marriage in her article, â€Å"What’s wrong with Gay Marriage?† First and foremost, gay marriages should not be allowed in the United States because we all as humans were not put on this earth to†¦show more content†¦A child should be raised by a father and a mother. A child should not be raised by the same gender growing up. Gay marriage ignores the offspring’s best interests. It really offends God in a lot of ways that there are people in our world like this. People will use the excuse of everybody sins, but I know that this issue is one of the major sins that you should not cross, no matter the circumstances. God created men and women to be fertile and multiply. He created us to raise the children correctly and maybe become doctors. He did not create us to raise or have the same gender. Children need mother and father figures throughout their life. In the Article â€Å"What’s wrong with Gay Marriage?† by the Katha Pollitt, she is for Gay Marriage and honestly believes there is nothing wrong with it. She does not believe that homosexuals threaten the institution. In the article on page 461, Pollitt states, â€Å"Gay marriage is not about sex, it is about separation of church and state. She strongly believes that gay marriage creates happiness. Pollitt is not a fan of marriage becau se she rather love freely, but she agrees that gay marriage should get the same type of treatment like an ordinary marriage between a man and woman. She sees marriage as an easy way to receive money. Some people look at it as loving one person and growing family. â€Å"Speaking for myself†¦... as a social mechanism, ,moreover, marriage seems to me a deeply unfair way of distributing social goods like health insurance,Show MoreRelated Same-Sex Marriage Essays1127 Words   |  5 PagesSame-Sex Marriage The United States is known world wide for its civil rights and freedoms. Many Americans are appalled by the idea of same-sex marriages. What?s wrong with the idea of two people who care greatly for one another wanting to spend their lives together? The gay community is misunderstood because many straights are not willing to listen. 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Discussing the Pros and Cons of Vaccinations - 673 Words

Discussing the Pros And Cons Of Vacciniations Thesis: Vaccinations have many benefits including the prevention of certain diseases but they also can cause issues and be very riskful in using them to treat or prevent a disease. Some of these issues include the ethic dilemma behind the subject. Introduction: Vaccines are among the most affordable and successful public health tools for preventing disease, disability, and sometimes death. Not only do they protect a vaccinated individual from developing a potentially deadly disease, but they also lead to protecting an entire community by reducing the spread of infectious agents. Although vaccines have many beneficial factors to it, there are still some problems in using them. Many vaccines may include side effects that can lead to autism or even death. Vaccinations have many benefits including the prevention of certain diseases but they also can cause issues and be very riskful in using them to treat or prevent a disease. Some of these issues include the ethic dilemma behind the subject. There are many benefits that come from using vaccinations to help prevent diseases One of the biggest benefits in being vaccinating is that they can save peoples lives. Whether it be you, your family, or your community, they protect others that you care about. With all of the technology improvements and advances we are able to fight and protect more effectively against ermiging diseases. Another reason why you should be vaccinated isShow MoreRelatedVaccines And The Eradication Of Disease Essay1481 Words   |  6 Pagesthat is not good enough, they would rather believe stories than fact. I propose that a new nationwide law be passed, a law to make vaccinations mandatory for all children, with the only exemption being religious, and severe medical reasons. 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Essay Violence in Video Games - 1792 Words

Video game violence has been a controversial subject for many years. Even the most simple, classic video games have had this topic pop up, dating back to the 1980’s, games like Space Invaders, Pac-Man, and Donkey Kong. But more especially in modern video games, such as the Call of Duty and Grand Theft Auto series. Many investigations attempt to analyze the idea that video games are making people more prone to violence, and even point to violence related events, some of said research information may be faulty. Within these investigations there will be evidence and proof for both parties and analyzing if they may or may not be valid, and considering the people behind the statistics and their claims. Most people that live in somewhat†¦show more content†¦A good explanation of that comes from Marc Prensky: â€Å"The most explicit kind of learning in video and computer games is how to do something. As you play you learn, gradually or quickly, the moves of the game-h ow various characters, pieces, or anything else operate and what you can make them do.†(Prensky 20) He also has another article that explains exactly what is gained from these types of activities, stated here: â€Å"At the second level, players learn what to do in any particular game (and, equally important, what not to do).†(Prensky 21). So with that information, just because a game isn’t made for learning, doesn’t mean that said person cannot learn from said game. Many people also claim that video games cause people to become dumb and cause children to have poor grades in school. Some may say that belongs to the responsibility of the person playing the game or the parents of the child, limiting their play time and making time for them to study instead of playing video games. Video games also tend to generate a massive amount of revenue. A large part of the revenue has violence contained in those products. 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It is rumored that games such as â€Å"Call of Duty, Mortal Kombat, Battlefield, Halo and many more have been the culprit behind a recent spike in childhood aggression. Many people have their own views on the subject, but it has been most com monly deduced that aggression is caused by the games, but violence does not alwaysRead MoreVideo Games and Violence942 Words   |  4 Pages Video Games and Violence Awe entering in more advanced society of technology, video games has become a popular source of entertainment among us. Almost all of us has rented or owned a video game and we have spent hours playing it. As we all know, video games have become the second most popular form of entertainment after television; the source of entertainment is proven to be violent. Excessive playing of video games has a huge impact on our life as well asRead MoreVideo Games and Violence1011 Words   |  4 Pagesare probably millions and billions of video games sold every year to people. 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Depending on the video game that is chosen, does not mean the child will result in violent behavior later on in lifeRead MoreViolence in Video Games770 Words   |  3 PagesIn the article from Thom Gillespie states that Grand Theft Auto (GTA) is the latest video game to be known of demeaning our society’s youth in the U.S. He states though however, video games such as GTA are â€Å"art† and deserve protection. Moreover, those games just mirror humanitys violent instincts; they do not provoke violence, Gillespie argues. These games also offer chances for debates about ethical issues and the costs of actions. It is known from his writings that Thom G illespie is a professor

Diversity Resistance in Organizations

Question: Discuss about the Diversity Resistance in Organizations. Answer: Introduction: The underlining term workplace diversity implies the variety of differences among the people associated with the business organization. Within the entire process of business people belonging to different cultural attitude are intimately associated for providing effective service. This particular study has focused to discuss on how the diversity management has a major impact in building organizational reputation and recognition. The primary purpose of workplace diversity is to bring together the people of various ethnic backgrounds, religions and age groups. At the very initial stage most of the business organizations belonging to Australia intended to hire employees from the regional market. Currently the scenario has been changed. As per the current scenario it has been observed that business experts are willing to appoint employees as per their level of competency rather than their cultural and ethnic backgrounds. However, this particular study has focused to provide an in-depth overview on how business organizations after implementing diversity management at the workplace have reached the peak of success. Why has diversity given so much attention lately? Barak (2016) opined that most of the business organizations of Australia intended to follow a proper hierarchical structure in order to recruit an individual employees for a better position. The persons who had been recruited for the higher position should have the experience of several years. Otherwise, the employees are not allowed to hold the position of senior employees. However, as per the current business trend skills and competencies get enough values rather than seniority. Employees despite belonging to young age group can hold the position of a senior manager due to in-depth academic background as well as sufficient experience (Ciocirlan and Pettersson 2012). After the implementation of diversity management at the workplace people of different age group are getting opportunities for being associated within the business organization. The level of skill and competency has become the matter of major concern for business experts rather than their seniority level. On the other hand, Garnero, Kampelmann and Rycx (2014) stated that business organizations initially have spread their wings in the regional market. Therefore, diversity management was not necessary to be implemented at this specific time. The human resource managers intended to recruit those employees who belong to regional places. After the business expansion the organizational experts had to change their internal strategies and policies for gaining international fame and recognition. For an example, Woolworth has started their journey in the market of Australia. At that particular time human resource managers of Woolworths had only recruited regional employees. As per the current business scenario, Woolworths has already expanded their entire process of business by launching their products and services in multinational countries. While prevailing their business beyond going the regional market, Woolworths had to recruit people of different cultural attitudes and religious backgroun ds (Harvey and Allard 2015). In order to run a business process skill and competency is highly important for surviving at the workplace. Therefore, the human resource managers have focused to prioritise on the skills and efficiency of the employees rather than their cultural attitudes. Hendricks and Cope (2013) stated that in order to make an effective business promotion about products and services most of the business organizations should stay away from any kind of products as well as services. Target customers can be considered as one of the most effective factors due to which organization can achieve the peak of success. Customers are from different cultural backgrounds (Hughes and Stephens 2012). Therefore, customers tend to show their interest in purchasing products and services only when the organization would be able to service diversified products. Therefore, employees at the workplace need to maintain diversity based on which the organization can produce diversified products and services. For an example, The Iconic is one of the most recognizable retail organizations especially famous fashionable clothes. The product designers are very much skilful to design diversified products that can be accepted by the customers of various cultural and psychological ba ckgrounds (Klarsfeld et al. 2014). Therefore, workplace diversity is one of the most effective reasons due to which The Iconic is flexible to provide different kinds of fashionable clothes to the customers from multinational countries. Legas and Sims (2012) stated that workplace diversity is not possessed with some of its major drawbacks as well. The employees while interacting with the people of different cultural attitudes and backgrounds face numerous obstacles such as communication barrier, psychological barrier, and cultural as well as religious barrier and so on. Language is one of the most significant issue due to which employees fail to make a proper interaction with each other. Due to the linguistic barrier employee especially in the customer service department fails to exchange necessary information. Ultimately, the existing staffs fail to maintain a balance between product supply and demand (Munjuri and Maina 2013). However, language barrier is very much important in deciding the level of performance of the employees. On the other hand, psychological barrier is another major factor that hinders a business organization to maintain their service effectively. Due to the psychological barriers business manag ers are unable to make appropriate business strategy by maintaining participative leadership style at the workplace. As a result, the business experts have to face innumerable barriers to draw the attention of customers (Okoro and Washington 2012). Therefore, psychological barriers can play a significant role for maintaining the entire business process. From those specific perspectives, diversity in workplace becomes a major hindrance for running the business in international market. Podsiadlowski et al. (2013) has firmly opposed the point of view of previous scholars. As per the opinion of this specific author it has been observed that the mission of implementing diversity management at the workplace is vast and wide. Implementation of diversity at the workplace is the only way with the help of which the business experts can make market strategy and policy in a collective way. On the other hand, human resource managers become flexible to focus on skill and competency level of the employee rather than showing their attitudes towards religious as well as cultural biasness. What are the workforce diversity challenges and opportunities confronting new managers in the 21st century? In order to expand the entire business in the international market the business managers have to face innumerable challenges for being accustomed with the diversity cultures at the workplace. The challenges are as follows: Effective communication is highly important for providing effective service to the customers. Due to the lack of communication the customers have to wait for a long time for receiving a proper service. Therefore, communication is highly important for maintaining a business process systematically. It has been observed that business experts while dealing with the persons of several backgrounds and attitudes have to face communication problem (Rice 2015). As a result, the managers fail to share appropriate business strategy and policy at the workplace. Employees belong to different geographical backgrounds. Therefore, linguistic barrier is the matter of major obstacle to communicate with the employees properly. In order to overcome this kind of major communication issues, the managers of popular business organizations have decided to provide an effective training and development session to enhance the skill of communication. Training and development session helps the employees to overco me their linguistic barriers. Challenges in psychology and cultures: Psychological and cultural barrier has become one of the major factors due to which business managers face obstacle to run business organizations in the international market. For an example, The Iconic being an organization of fashionable clothes fails to draw the attention of those people who belong to orthodox backgrounds. On the other hand, while making the business decision regarding the product designs and market strategy the managers have collected different opinions from various employees (Saxena 2014). As a result, the business managers had to face major problems to take a proper decision. In order to overcome this kind of situation, company likes to apply some major strategies and policies to satisfy needs and demands of every single employee equally. The business managers generally decide to arrange a group discussion session where employees from several departments have to be present there. Every individual employee has the equal right to share opinion (Thomas 2012). Therefore, the session of group discussion employees of various departments get priority and response in sharing their views regarding business goal. Therefore, business managers get the scope to make a collective decision regarding business strategy and policy. In this kind of situation, employees do not show their level of dissatisfaction as they have been treated with equal respect and dignity. Religious barriers are the most effective problem due to which business mnagers fail to maintain an effective international organizational balance. With the dynamic progress of civilization, the customers expectations and behaviours are also changing with time. Therefore, business organizations have to render unique features in their products and services. It has been observed that due to the religious barriers organizations fail to render variety in their products and services. Wood et al. (2016) opined that employees belong to different religious backgrounds believe on different psychologies and attitudes. Therefore, employees may become a major hindrance in rendering the diversity in products. In order to overcome this kind of religious issues, the business organizations have decided to implement some major strategies and policies (Thomas 2012). The business experts have decided to provide an effective training to the employees for enhancing their knowledge and skills. With the help of this particular training and development process, the employees tend to evaluate their minds. As a result, organizations automatically, focus to render diversified products and service to grab the attention of customers from various geographical corners. Without focusing on product diversity, the business organizations can never expand their entire business process in the global market Challenges in business decision making: Business decision making is highly important to implement appropriate strategy and policy. In order to reach the peak of business success most of the business managers intend to implement an effective market strategy so that products can be promoted in various geographical areas. The role of employees in making an effective and appropriate decision for a business organization is highly important. In most of the cases, it has been observed that business experts fail to take proper decision due to the psychological barriers happening among the employees (Thomas 2012). People at the workplace like to express their various opinions before implementing a particular market strategy. In this kind of situation, business managers have to face difficulties to take an appropriate decision. In order to overcome this kind of challenges, most of the business managers like to follow autocratic form of leadership style. In this particular form of leadership style, employees get least opportunities t o share their own opinion. As a result, business managers like to impose their own decision on the employees. As a result, people do not have the scope to express their point of views. However, Barak (2016) stated that autocratic form of leadership style de-motivates the employees towards providing good services for meeting the business target. Therefore, most of the prestigious business organizations intend to follow democratic leadership style to encourage the employees towards reaching business goal. Conclusion: The entire study has focused to deal on how diversity within the organization is highly important for rendering the success of an organization in the domain of global market. At the very initial stage, business organization did not focus on maintaining workplace diversity. Belong to the 21st century most of the business organizations have preferred to implement diversity management at their workplace for being flexible in international market. Therefore, in the late centuries business organizations such as Woolworths, the Iconic have decided to follow workplace diversity to draw the attention of global customers. The study has critically analysed whether diversity at workplace is beneficial for the business organization or not. Various challenges faced by the new managers in implementing workforce diversity have been discussed in this particular study. Reference List: Barak, M.E.M., 2016.Managing diversity: Toward a globally inclusive workplace. Sage Publications. Ciocirlan, C. and Pettersson, C., 2012. Does workforce diversity matter in the fight against climate change? 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