GMS week 1 notes – Intro to Global MGMT
Planning Ahead – Study Questions
- What are the challenges of working in the new economy?
- What are organizations like in the new workplace?
- Who are managers and what do they do?
- What is the management process?
- How do you learn the essential managerial skills and competencies?
Overview of the 21 century workplace
- Organizations must adapt to rapidly changing society.
- Economy is global and driven by innovation and technology.
- High performing companies gain extraordinary results from people working for them.
- Interdependent, knowledge based workers.
Study Question 1: What are the challenges of working in the new economy?
- People are the ultimate foundations of organizational performance.
- Intellectual capital is the collective brainpower or shared knowledge of a workforce that can
be used to value.
- National boundaries of world business have largely disappeared.
- Globalization is the worldwide interdependence of resource flows, product markets, and
business competition that characterize the new economy.
- Continuing transformation of the modern workplace through: the internet, World Wide
Web, computers, info tech.
- Increasing demand for knowledge workers with the skills to fully utilize technology.
Diversity -Workforce diversity reflects differences with respect to gender, age, race, ethnicity,
religion, sexual orientation, and able-bodiedness.
- A diverse and multicultural workforce both challenges and offers opportunities to
- Code of moral principles.
- Society requires businesses to operate according to high moral standards.
- Emphasis today on restoring the strength of corporate governance. Careers
- Career of the 21 century won’t be uniformly full-time and limited to a single large
- Skills must be portable and always of current value.
Study Question 2: What are organizations like in the new workplace?
- Critical skills for success in the new workplace… mastery, contacts, entrepreneurship, love
of technology, marketing, and passion for renewal.
- A collection of people working together to achieve a common purpose.
- Organizations provide useful goods and/or services that return value to society and satisfy
Organizations are open systems
- Composed of interrelated parts that function together to achieve a common purpose.
- Interact with their environments
- Transform resource inputs into product outputs (goods and services).
- Environmental feedback tells organization how well it is meeting the needs of customers
- Value is created when an organization’s operations adds value to the original cost of
- When value creation occurs: Businesses earn a profit; nonprofit organizations add wealth to
- An overall measure of the quantity and quality of work performance with resource
utilization taken into account.
- Performance effectiveness: An output measure of task or goal accomplishment.
- Performance efficiency: An input measure of the resource costs associated with goal
- Workplace changes that provide a context for studying management… Belief in human capital,
demise of “command-and-control”, Emphasis on teamwork, Preeminence of technology, Embrace of
networking, New workforce expectations, Concern for work-life balance, and Focus on speed. Study Question 3: Who are managers and what do they do?
- Importance of human resources and managers... “toxic workplaces” treat employees as
costs, High performing org. treat ppl as valuable strategic assets.
- A manager is a person in an org. who supports and is responsible for the work of others.
- The people who managers help are the ones whose tasks represent the real work of the
Levels of management
- Top managers – responsible for performance of an organization as a whole or for one of its
- Middle managers – in charge of relatively large departments or divisions
- Project managers – coordinate complex projects with task deadlines.
- Team leaders or supervisors – in charge of a small work group of non- managerial workers.
Responsibilities of team leade