Class Notes (838,812)
Canada (511,109)
GMS 200 (1,247)

Class 1 note.docx

5 Pages
Unlock Document

Global Management Studies
GMS 200
Shavin Malhotra

Camera Study - Camera A is a low priced base model camera ($169.99) - Camera B is a more expensive model with more features ($239.99) Camera B has less sales, how could the camera company increase the sales for camera B? What they did is they released a higher featured camera for a higher price. The sales of camera B then increased drastically, this is referred to as the compromise effect. Compromise effect: Consumers tend to compromise with the middle option. What is an organization? It is a collection of people working together to achieve a common purpose. Are organizations open or close systems? - Organizations are open systems - Refer to page 12 diagram - Many companies are located where their resource supply are - Ex silicone valley, tile companies in Italy Productivity and the Dimensions of Organization Performance - Refer to diagram on page 13 - The best scenario a company can be in is to be effective and efficient (using your resources best as possible and attaining your goals - Sometimes goals are not realistic and must be and trade off must be done - Ex you are trying to attain high grades in all your classes however one class requires you to spend 50% of your time to achieve that grade. A trade off must be done. What is a Manager? Traditional ------------------ person who plans, directs people and resources New Organization - Person who directly supports and helps activate the work efforts and performance accomplishments of others What are the Manager levels in a Typical Organization? - Refer to page 23 diagram - Shareholders elect a board of directors to govern the company on behalf of them, and make sure the CEO does not make any unethical decisions - Not as common but some people can rise through the ranks and become a CEO Katz Essential Managerial Skills -Refer to page 30 diagram Technical skills- more hands on skills to apply to a specific job and perform tasks. These are more essential in lower level managers who look over a more specific task or area. Human Skills- the ability to communicate and motivate people. These skills are required equally throughout lower and higher level managers. Conception Skills- this skill involves being able to critically analyze a company’s situation and make long term decisions that will benefit the company. This conceptual long term thought is quiet difficult and these skills are more essential for higher up managers who have to make decisions that will benefit the company in the long run. Managerial Work The Process The Setting The results -planning -hectic pace -organization -interactions -leading  -interruptions   performance - -many tasks -long hours Environmental Uncertainty Is a lack of complete information regarding what exists and what developments may occur in the external environment. Two Dimensions of Environmental Uncertainty: 1. Complexity 2. Rate of Change - Refer to page 20 diagram - If rate of change is very high such as in the IT industry then it is more complex to make decisions - If the rate of change is very low such as in the salt production industry, then it is much easier to make decisions - The highest uncertainty is when the rate of change and the complexity of the environment is very high What constit
More Less

Related notes for GMS 200

Log In


Join OneClass

Access over 10 million pages of study
documents for 1.3 million courses.

Sign up

Join to view


By registering, I agree to the Terms and Privacy Policies
Already have an account?
Just a few more details

So we can recommend you notes for your school.

Reset Password

Please enter below the email address you registered with and we will send you a link to reset your password.

Add your courses

Get notes from the top students in your class.