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Week 1 Notes

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Ryerson University
Global Management Studies
GMS 200
Robert Hudyma

Chapter 1 WORKING IN THE NEW ECONOMY Themes are respect, participation, empowerment, involvement and teamwork and self management New economy are greatly knowledge and success is forged in workplaces Organizations are expected to excel on performance criteria New economy is global and the nations of the world are increasingly interdependent Career redefined in terms Flexibility, free agency, skill portfolios and entrepreneurship Intellectual Capital is the collective brainpower and shared knowledge of a work place Allow the company to achieve unique and significant results Knowledge Worker someone that is a critical asset to the workplace Should be self starter and willing to learn Globalization is the worldwide interdependence of resource flow, product markets and business competition More and more products are being made in one country and even the final assembly of the product takes place in another country They operate as global business that view themselves as equidistant(central) from customers and suppliers, wherever in the world they may be located Example, Ballard Power System Process: Improvements in technology (especially in communications and transportation) combine with the deregulations of markets and open borders to bring vastly expanded flow of people, money, good, services and information In the globalized world, governments and companies are very competitive btw each other Technology Technology is an important part of everyday operations Communications, networking and computers
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