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Lecture 1.docx

9 Pages

Global Management Studies
Course Code
GMS 200
Masoomeh Moharrer

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April 30 2012 Chapter 1 Introduction to global Management:  Exam is from discussion and the book Organization and resources: - Organization is a collection of people working together to achieve a common purpose - mOrganizations provide useful goods and/or services that return value to society and satisfy customer needs. - Transform resources input to finish good. - Categories of Organization o Physical resources  Buildings, Boards, projectors, any physical asset o Human resource  Staff, teachers o Financial resources  Cash, income - Organizations are open systems Challenges of working in the new economy: TALENT - People and their talents are important foundation of organization performance - A knowledge worker’s mind is a critical asset to employers - Intellectual capital: the collective brainpower or shared knowledge of a workforce that can be used to create value. - Employees- past and present - What are the challenges regarding talent? o Many have potential but it takes time o Difficult to evaluate o Hard to acquire the knowledge o Hard to get them to work together o Employee Retention may be harder if competitors want to take your employee Challenges of working in the new economy: DIVERSITY - Diversity is the differences with respect to gender, age, race, ethnicity, religion, sexual orientation. - Both challenges and offers opportunities to employers. - Does diversity create opportunity or challenges in the organization? o Gives an equal chance to difference races o Bias for gender o Helps a company to expand for multinational company. o Diversity creates innovation o Research shows the effect of culture and diversity – they had less innovation, the quality of innovations was higher. o When culture differences were too much there was too much of a barrier and hence communication errors occurred. But for those that were able to successfully communicate with each other the quality of innovation was much higher than something else. This is because of their cognitive knowledge is very different. How diversity bias can occur in the workplace? - Prejudice: preconceived judgements toward people or a person- having attached a label to a group. - Discrimination - Glass ceiling effect: “the unseen barrier that keeps minorities and women from rising to the upper levels of the corporate ladder, regardless of their qualifications or achievements”. Can be women, minorities, disable etc. Challenges of working in the new economy: GLOBALIZATION - Globalization is the worldwide interdependence of resource flows, product markets, and business competition that characterize the new economy. - Disappearance of national boundaries of world business. - What are the advantages and one disadvantages of globalization? o Advantages  Lower Prices  Increases Profit (larger market- larger number of products)  If not intertwined in globalization- in a recession it would still be independent and not affected. o Disadvantage:  Unemployment of domestic workers may be higher.  When one area is affected it sprawls to affect other in the same industry because they are intertwined. (like the euro decrease)  Globalization increases competition because there are companies globally. Challenges of working in the new economy- TECHNOLOGY - Continuing transformation of the modern workplace through: o The Internet & World Wide Web o Computer networking o Information technology o Telecommuting/virtual teaming/ mobile offices - Another challenge: Increase demand for knowledge workers with the skills to fully use technology. What are pros and cons of technology for organization? - Pros o Its quick and efficient - Disadvantage: o To keep yourself up to date with technology Challenges of working in the new economy: ETHICS What is Ethical? - Ethics is the code of moral principles that set standards of conducts of what is good and right. Ethical Expectations for modern businesses: - Integrity and ethical leadership at all levels - Sustainable development ( to preserve resources for future use- using in the most useful way) - Natural environment protection - Consumer protection - Human rights A Firm’s Ethical Responsibilities to Its Stakeholders********** - Owners/shareholders- Rightfully expect some form of return on their investment - Employees: rightfully expect to be treated with dignity and respect for devoting their energies to the enterprise - Customers- rightfully expect a seller to provide them with a reliable, safe product or service - Suppliers: rightfully expect to have an equitable relationship with firms they supply and be treated fairly - Community: rightfully expect businesses to be good citizen in their community. Example: Nutella sued for 3M dollars for false advertising. Challenges of working in the new economy: CAREERS - Challenge of graduates: finding full time job: o Difficult in economic crisis o Remember importance of online resume & job searches o Power of Social networking (Linkedin) o Internship as a pathway for first job - 3 Types of career o Full-Time Core Worker o Part-Time Temporaries o Independent Contractor - Probable to change job, so: be prepared to be any one of these types of workers. - Like surfer - People must make sure that their skills are portable and of current value in employment markets. Critical skills for success in the new workplace: - Mastery (be able to contribute something of value) - Networking - Entrepreneurship - Love of technology - Marketing - Passion for ren
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