Multicultural Engagement Strategies and Development Trends for a Walmart

Abstract

This literature review explores strategies for managing multicultural teams and utilizing strategic thinking to anticipate organizational development trends. The increased globalization of business has led to more culturally diverse teams, necessitating strategies like cultural awareness training, communication improvement, and inclusive leadership approaches to harness the potential of multicultural groups. However, the review shows shortcomings around tailoring strategies to teams' specific needs versus a one-size-fits-all approach. On forecasting trends, the review utilizes a methodology of literature-based analysis on strategic thinking. Concepts covered include analyzing uncertain business environments, learning from past experiences, recognizing macro and micro trends, and scenario planning. Synthesis of findings from various studies shows strategic thinking is key to navigating complexity, adapting to change, and gaining competitive advantage. However, gaps persist around integration of strategic thinking in organizational culture and training employees in strategic thought processes. The review concluded that effective management of diverse teams and strategic thinking to anticipate trends are essential in today's globalized, fast-changing business landscape. While progress has been made, opportunities exist to advance tailored inclusion strategies and further embed strategic thinking across all levels of organizations. More research can help refine approaches and address existing gaps.