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Ryerson University
Global Management Studies
GMS 200
Shavin Malhotra

The Dynamic New Workplace – Chapter One WORKING IN THE NEW ECONOMY - Global and increasingly interdependent - Interconnected through news, travel, lifestyles, media. - Knowledge based - Performance driven, expectations are high - Networked, nations increasingly influenced by internet and IT - Takes initiative, discipline, and continuous learning to stay in charge →Intellectual Capital People – what they know, what they learn and what they do with it are the ultimate foundations of organizational performance. They represent intellectual capital: collective brain power or shared knowledge of a work force. This is the new age of the knowledge worker – someone whose mind is a critical asset to employers and adds to the intellectual capital of the organization. →Globalization: The worldwide interdependence of resource flows, product markets and business competition. The process is described as one in which “improvements in technology combine with the deregulation of markets and open borders to bring about vastly expanded flows of people, money, goods, services and information. →Technology Live in a technology-driven world increasingly dominated by barcodes, automatic tellers, computerized telemarketing campaigns, electronic mail, internet resources, electronic commerce, and more. Technology is an indispensable part of everyday operations, there are virtual meetings and distance is not a problem. →Diversity The term workforce diversity, describes differences in gender, race, age, ethnicity, able-bodiness, religious affiliation and sexual orientation among workers. The Canadian Human Rights Act is very strict in prohibiting the use of demographic characteristics in HR management decisions. Prejudice, - the display of negative, irrational attitudes toward women or minorities-, or the holding of negative opinions and attitudes regarding members of diverse populations, sets the stage for bias. It becomes active discrimination, when women and minorities are unfairly treated and denied benefits of organizational membership. A subtle form of discrimination is the glass ceiling effect, it is an invisible barrier limiting career advancements of women and minorities. →Ethics.. ..sets a code of moral standards and principles of what is ‘good’ and right in one’s behaviour and vice versa. Businesses, by law, must have boards of directors that are elected by stockholders to represent their interests. Society is getting strict and want high moral standards. Corporate Governance is oversight of a company’s management by a board of directors. Board will hold management accountable for ethical and socially responsible behaviour by the business. →Careers Shamrock’s there leaves has a different career implication. ( 1 ) Co-workers, (fulltime) pursue traditional career paths, with success and maintenance of skills they can advance. ( 2 ) Contract workers: perform specific tasks needed on a fee-for-service basis. They sell a skill or service. ( 3 ) Part-time workers: hired for only number of hours according to business needs. Training ground or point of entry when openings are available. ORGANIZATIONS IN THE NEW WORKPLACE - Challenging setting, perform to expectations - Great opportunities and possibilities - Real and positive contributions to society → What is in an organization? An organization(profit/non-profit) is a collection of people working together in a division of labour to achieve a common purpose. It enables its members to perform tasks beyond reach of individual accomplishments. Common purpose among organizations: “pricing useful goods or services”, their return value to society and justifies its continuance in the market. → Organizations as systems Organizations are systems composed of interrelated parts that function together to achieve a common purpose. They are open systems that interact with their environment in the continual process of transforming resources(inputs) into products(outputs). External Environment is a critical element. It is both the supplier of resources and the source of customers. Feedback from the environment tells an organization how well it is doing. →Organizational Performance Value is created when an organization’s operations add value to the original cost of resource inputs. ( 1 ) Businesses earn profit ( 2 ) A non-profit organization can add wealth to society. A common measure of overall performance is productivity, the quantity and quality of work performance, relative to resources used. Can be measured at the individual, group and organizational level. Performance effectiveness is an output measure of task or goal accomplishment. Performance efficiency is a measure of the resources costs associated with goal accomplishments. (Cost of labour, maintenance, supply expense) →Changing nature of organizations Organizations are certainly undergoing dramatic changes, the following are organizational transitions: • Belief in human capital: place premiums on high involvement and participatory work setting • Demise of “command and control”: traditional hierarchical structures are slow, conservative and costly • Emphasis on teamwork: less vertical and more horizontal in focus • Pre-eminence of technology: continually change operations • Embrace of networking: networked for communication internally and externally with partners, suppliers etc • New workforce expectations: less tolerance for hierarchy, more informality, more attention to performance • Concern for work work-life balance: organizations pay attention to balance between demands of work and personal affairs. • Focus on speed: who gets products to market first have an advantage, work should be well done and timely. total quality management- managing with an organizational wide commitment to continuous improvement and meeting customer needs completely. MANAGERS IN THE NEW WORKPLACE • “toxic workplaces” are organizations that treat their employees mainly as costs to be reduced. • High performing organizations treat people as valuable strategic assets • Managers must ensure that people are treated as strategic assets. → What is a manager? A manager is a person in an organization who supports and is responsible for the work of others. Managers, people
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