Final answer:
Valuing and managing workforce diversity is TRUE to be a source of competitive advantage, allowing for increased innovation and a broader customer reach.
Step-by-step explanation:
The statement that valuing and managing a workforce diversity represents a potential for competitive advantage is TRUE. With the demographic changes and an increasingly diverse workforce, companies that leverage such diversity are more likely to innovate and reach a wider customer base. It is projected that the proportion of U.S. citizens with Hispanic background will rise significantly, and the workforce will continue to become more diverse with women advancing in their careers. Valuing diversity can help organizations attract and retain the best talents from a variety of backgrounds.
Furthermore, diverse teams bring together different perspectives, leading to more innovative solutions, which is essential for growth and adapting to the changing market. Professionalizing human resources functions has also been linked to the reduction of bias, which can encourage a more equitable and diverse workplace, contributing to the overall success of an organization. Optimists believe that as the workforce becomes more diverse, discriminatory barriers will break down, allowing the economy to benefit from a wider range of talents and perspectives.