Workplace diversity (WPD) is a holistic concept that denotes the differences that exist between people working within an organisation. It describes the complex physical, sociological or psychological attributes such as gender, ethnicity, sexual orientation, religious or political beliefs that define an individual or group. Therefore, WPD transcends the recruitment, representation or preferential treatment of people within an organisation. The complexity of WPD has become one of the most challenging issues currently of critical importance in business and organisational management. Therefore, the paper presents the critical issues currently impacting on WPD in modern day organisations. It identified and highlighted the various prospects and challenges of WPD. The results revealed that diversity in the workplace enhances the critical thinking, problem-solving, and employee professional skills. Furthermore, it enables organisations to attract talent, improve corporate attractiveness, productivity. However, it is currently hampered by the hostility, disrespect and discrimination people with diverse background encounter in the workplace. Such behavioural attitudes as ascribed to prejudices and biases towards people with varied lifestyle choices, ethnic and cultural differences, disabilities, and generational gaps. These factors can stifle morale, teamwork, profitability and the attractiveness of the organisation. Consequently, modern day organisations need to address the causes of these issues to exploit the benefits of WPD. These can be addressed strategies that foster an empowerment culture, build communication and team spirit with organisations. These efforts will promote acceptance, productivity, and profits in future organisations.
The objective of this paper is to evaluate the conceptual theories, elements, strategies along with the prospects and challenges of knowledge management (KM). The findings indicated that KM is a complex yet important process that requires organisations to create, process, disseminate and apply of knowledge. The findings also revealed knowledge is one of the most valuable resources of any organization. Therefore, effective KM is critical to the growth, performance, and survival of organisations. Furthermore, the many definitions of KM serve as a theoretical framework and empirical basis for multidisciplinary applications and prospects for organisations. Furthermore, the proper adoption and implementation of KM provides a systematic management approach for organisations to create, store, disseminate and apply knowledge critical to organizational performance and decision-making processes. Furthermore, KM can minimize the time, operational costs and material losses during product design, lifecycle, and quality assurance. Despite its merits, KM has numerous challenges. Most notable is the lack of an acceptable definition and understanding of KM concepts and practices. This can result in poor adoption and implementation thereby affecting sustainable organisational growth and development. Therefore, the paper concludes that KM adoption and implementation is critical to organisational goals, growth and performance.
Today Entrepreneurs are considered to an utmost magnitude as national assets to be cultivated, motivated, and remunerated because they tend to have the ability to change the way people live and work. Successful innovations of entrepreneur ventures made standard of living better, create wealth as well as employment and ultimately contribute to economic growth. From stimulating social change to innovation drive, entrepreneurship is undeniably a significant phenomenon (Shobhit, 2019).Entrepreneurial ventures help in achieving economic prosperity. New start-ups as well as improving existing businesses helps entrepreneurs to develop new markets and creates new wealth through enhanced technology, products or services. Furthermore, entrepreneur activities contribute to high national income generated through tax revenue as a result of improved employment rate and better earnings which leads to an enriched quality of life, morale boost, and appreciable economic freedom (Shobhit, 2019).Depending on its drive, be it discovery, opportunity, unemployment or need for survival, entrepreneurship is categorised into opportunity-based and necessity-based (Global Entrepreneurship Monitor, 2012). To Reynolds (2000) and Clausen ( 2006), necessity-driven entrepreneurship is unemployment in disguised and mostly results to less productivity due to misallocation of a person's resources and competences. A prospective entrepreneur ends up searching
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