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18
MBA502 - Assessment 2
By Damian Demasi - Student ID: 133143
Capitalises the AirBnB boom by managing properties on short-term leases
(Castles, A 2017)
Overview of the firm
Growth rate of 500% inter-year, and manages more than 600 properties and 4000 guests per month
(The Office Space 2019)
- Founders came from different ethnical backgrounds
- Cultural diversity was encouraged from the start
- Culture of unlike minds
(Catford, M 2018)
- Richness of talents
- Skillsets
- Views
- Creative thinking
Cultural diversity-related initiatives
(The Office Space 2019)
- 27 nationalities in a team of 100
- 56% being female
- 50/50% in the executive team
(Appendix, Figure A-1)
Multiplicity of backgrounds helps to see things from different angles and promotes the interchange of different ideas
(Hunter, B 2019)
Critique of the diversity initiatives
People in the company can accept others naturally as they are
(Catford, M 2018)
Companies that are ethnically diverse are 35% more likely to perform better financially
(Hunt, V et al. 2015)
PROS
- 1 in 4 Australians being born overseas
- 1 in 2 Australians having an overseas-born parent
- over 20% of Australians speaking a language other than English at home
(Anthill Magazine 2017)
Having international and intercultural team members can provide the company with different and unique insights
(Anthill Magazine 2017)
Diversity fatigue
CONS
Lack of clear and designed diversity related initiatives
(Gleeson, B 2017)
- Make the culturally diverse initiatives clearer and explicit
- Attract key talent that may be looking for this kind of core value in a company
Acculturation processes
Recommendations
(Härtel, CEJ et al. 2019)
Cultural intelligence of employees:
- Teach about their backgrounds and customs
- Other people’s behaviours can be defined by their culture
- Cultural biases
(Lieberman, S 2012)
References:
Appendix:
References
Anthill Magazine 2017, Hey guys, how come nobody is talking about multiculturalism in the startup sector?, Anthill Magazine, viewed 22 January 2020, <http://www.anthillonline.com/hey-guys-come-nobody-talking-multiculturalism-startup-sector/>.
Castles, A 2017, How Sydney startup MadeComfy secured $1.1 million with backing of Amaysim co-founders and ex-LinkedIn chief, Smart Company, viewed 22 January 2020, <https://www.smartcompany.com.au/startupsmart/news/sydney-startup-madecomfy-secured-1-1-million-backing-amaysim-co-founders-ex-linkedin-chief/>.
Catford, M 2018, How Australia’s Top Companies Do Diversity Right, The Martec, viewed 22 January 2020, <https://www.themartec.com/insidelook/companies-do-diversity-right>.
Gleeson, B 2017, How Important Is Culture Fit For Employee Retention?, Forbes, viewed 22 January 2020, <https://www.forbes.com/sites/brentgleeson/2017/04/03/how-important-is-culture-fit-for-employee-retention/#5b0b4b497839>.
Härtel, CEJ, Alam, Q & Samaratunge, R 2019, The Process of Cultural Acculturation in Multicultural Workplaces: Experiences of Professional Immigrants from South Asia, Department of Management, Monash University, viewed 22 January 2020, <https://www.anzam.org/wp-content/uploads/pdf-manager/1300_HARTEL_CHARMINE-431.PDF>.
Hunt, V, Layton, D & Prince, S 2015, Why diversity matters, McKinsey & Company, viewed 22 January 2020, <https://www.mckinsey.com/business-functions/organization/our-insights/why-diversity-matters>.
Hunter, B 2019, Interview with Sabrina Bethunin, Co-Founder, MadeComfy, Female.com.au, viewed 22 January 2020, <https://www.female.com.au/sabrina-bethunin-madecomfy-interview.htm>.
Lieberman, S 2012, Five Ways to Build Cultural Intelligence, Alan Weiss, viewed 22 January 2020, <https://alanweiss.com/five-ways-to-build-cultural-intelligence>.
The Office Space 2019, Guide: Australia's Future Workplaces, The Office Space, viewed 22 January 2020, <https://theofficespace.com.au/blog/guide-australias-future-workplaces/>.
Figure A-1 - Brief chat with Quirin Schwaighofer