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Lecture 1

GMS 200 Lecture 1: Chapters 1 & 13 (Lectures 1 & 2)


Department
Global Management Studies
Course Code
GMS 200
Professor
Horatio Morgan
Lecture
1

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GMS 200 - Introduction to Global Management (Sept. 7/16)
Key Global Trends in Business
Increased use of social media
o Stay engaged with current customers
o Develop greater awareness of company in the marketplace
o Identify and attract new customers
Becoming more difficult to define value and customer satisfaction
Globalization of production
Increased use of robots
More intense competition in the global marketplace
o Difficult to gain and maintain market share
Responses to Global Trends
Business executives have to:
Revisit their business model regularly
Know their customers very well and anticipate their demands
Focus on the things they do best
Talent Management
Recruit and keep employees
Develop employee capabilities in accordance with business strategies
Measure and manage performance
Recognize, reward and engage employees
Engage in succession planning to orderly replace retiring managers
Challenges Managers Face in Today’s Workplace
Age difference
Cultural differences
Managers are expected to organize the workplace in a way that gets the most
out of workers and other resources at their disposal.
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