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Introduction to Global management 5.docx

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Global Management Studies
GMS 200
Bamidele Adekunle

Introduction to Global management 5/9/12 –Introduction to Business and the Dynamic New Workplace 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. - Globalization  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. - Technology  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. - Diversity  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. - Ethics  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 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  Mastery  Contracts  Entrepreneurship  Love of technology  Marketing  Passion for renewal - Organization  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 needs.  *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 society. 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  Information  Technology Transformation process - Organizational performance  Value is created when an organizations operations adds value to the original cost of resource inputs.  When value creation occurs:  Businesses earn a profit  Non-profit organizations add wealth to society  Productivity  An overall measure of the quality and quantity of work performance with resource utilization taken into account.  Perfomance effectiveness  An output measure of task or goal accomplishment  Performance efficiency  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 organization. - Levels of management  Top managers – responsible for performance of an organization as a whole or for one of its larger parts.  Middle managers- in charge of relatively large departments or
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