Introduction to Global management 5/9/12 –Introduction to Business and the Dynamic New
Planning Ahead- Study Questions
1. What are the challenges of working in the new economy?
2. What are the organizations like in the new workplace? – “Diversity”
3. Who are managers and what they do? Managers = Skills to lead an organization. Skills to manage people.
Plan, organize, lead.
4. What is the management process? Control in management- Feedback, Planning, Organizing
5. 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 wokring for them.
- Interdependent, knowledge, based.
1. Intellectual capital
People are the ultimate foundations of organizational performance.
A knowledge worker adds to the intellectual capital of an organization.
Intellectual is the collective brainpower of a workforce that be used to create value.
National boundaries of world business have largely disappeared.
Globalization is the worldwide interdependance 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, and Information Technology (IT)
Increasing demand for knowledge workers with skills to full utilize technology.
Workforce diversity reflects difference with respect to gender, age, race, ethnicity, religion, sexual
orientation, and able bodiedness.
A diverse and multicultural workforce both challenges and offers opportunities to employers.
Code of moral principles
Society requires businesses to operate according to high moral standards.
Emphasis today on restoring the strength of corporate governance.
Career of 21 century won`t be uniformly full time and limited to a single large employer.
Skills must be portable and always of current value.
2. Critical skills for success in the new workplace
Love of technology Marketing
Passion for renewal
A collection of people working together to achieve a common purpose.
Organizations provide useful goods and/or servuces that return to society and satisfy customer
*Organizations are open systems.
Composed of interrelated parts that function together to achieve a common purpose.
Interact with their enviornments.
Transform resource inputs into product outputs (goods and services).
Environmental feedback tells organizations how well it is meeting the needs of customers and
The enviornment supplies The organization creates The environment consumes
Resource input Work activities turn resources Product outputs
People, money into inputs Finished goods and /or services
Technology Transformation process
- Organizational performance
Value is created when an organizations operations adds value to the original cost of resource
When value creation occurs:
Businesses earn a profit
Non-profit organizations add wealth to society
An overall measure of the quality and quantity of work performance with resource
utilization taken into account.
An output measure of task or goal accomplishment
An input measure of the resource costs associated with goal accomplishment.
- 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
Focus on speed.
3. Importance of human resources and managers
“Toxic workplace” treat employees as costs.
High performing organizations treat people as valuable strategic assets.
Managers must ensure that people are treated as strategic assets. A manager is a person in an organization who supports and is responsible for the work of others.
The people who managers help are the ones whose tasks represents the real work of the
- Levels of management
Top managers – responsible for performance of an organization as a whole or for one of its larger
Middle managers- in charge of relatively large departments or