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Ryerson (30,914)
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GMS 200 (1,261)
Lecture

Week 1 Notes

10 Pages
173 Views

Department
Global Management Studies
Course Code
GMS 200
Professor
Robert Hudyma

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Chapter 1
WORKING IN THE NEW ECONOMY
Themes are respect, participation, empowerment, involvement and teamwork and
self management
New economy are greatly knowledge and success is forged in workplaces
Organizations are expected to excel on performance criteria
New economy is global and the nations of the world are increasingly interdependent
Career redefined in terms
Flexibility, free agency, skill portfolios and entrepreneurship
Intellectual Capital is the collective brainpower and shared knowledge of a work place
Allow the company to achieve unique and significant results
Knowledge Worker someone that is a critical asset to the workplace
Should be self starter and willing to learn
Globalization is the worldwide interdependence of resource flow, product markets and
business competition
More and more products are being made in one country and even the final assembly
of the product takes place in another country
They operate as global business that view themselves as equidistant(central) from
customers and suppliers, wherever in the world they may be located
Example, Ballard Power System
Process: Improvements in technology (especially in communications and
transportation) combine with the deregulations of markets and open borders to bring
vastly expanded flow of people, money, good, services and information
In the globalized world, governments and companies are very competitive btw each other
Technology
Technology is an important part of everyday operations
Communications, networking and computers
www.notesolution.com
Computer networking can bring together almost anyone together anywhere in the
world
Virtual space where people hold meetings, share informations and files, make
plans and solve problem together
The demand for knowledge workers with the skills to best utilize technology is
increasing
Diversity
Work Diversity describes the composition of a workforce in terms of difference among
the members such as difference in gender race, age, ethnicity, religion, sexual orientation
and able-bodiness
Canadian Human Rights
Is very strict is prohibiting the use of demographic characteristics in
human resource management decisions
Increases diverse and multicultural workplaces
Improves the company success and great opportunities for ppl
Each $1 men makes $0.86 women makes
The increase of women CEOs from 8.5 to 15.7 %
Prejudice is the display of negative, irrational attitudes toward women and minorities
Discrimination unfair treatment and not allowing women and minorities the full
benefits of organizational benefits
Glass Ceiling Effect not allowing women and minorities of career advancement
Scholar Judith Rosener suggest that the organizations loss for any discriminatory practice
is undervalued and underutilized human capital
Ethics set of morals standards what is good and right on ones behavior
Society is becoming strict in requiring businesses and other social institution
to operate according to high moral standards
www.notesolution.com
Corporate Governance- is the oversight of management by the Board of Directors
Careers
Charles Handy suggest the analogy of the Irish shamrock to describe and understand the
new employment patterns
Each leaf has a different career implication
1)The Core Workers
Full time employees, gain success and skill and they well be in
the company for a long period of time
2)The Contract Worker
Performs specific tasks for the company as a fee for service
And with many employers over time
3)Part-time Workers
Only when the company is in need and for a number of hours
Can be a training ground or point of entry to the core when
opening are available
Example of a shamrock organization The Bank of Nova Scotia
Organizations in the new workplace
Should provide a service or goods and satisfy costumers
Employees should be innovate and committed to the corporate missions
Have a clears sense of quality products and customer satisfaction is a
important source of organizational strength and performance advantage
Organization is a group of people working together towards a common purpose
Open Systems is an organization that works with the external environment to transform
resources to product outputs
The external environment is a critical element in the open system view on
organization which are suppliers and source of customers
Without customers , a business cant survive
www.notesolution.com

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Description
Chapter 1 WORKING IN THE NEW ECONOMY Themes are respect, participation, empowerment, involvement and teamwork and self management New economy are greatly knowledge and success is forged in workplaces Organizations are expected to excel on performance criteria New economy is global and the nations of the world are increasingly interdependent Career redefined in terms Flexibility, free agency, skill portfolios and entrepreneurship Intellectual Capital is the collective brainpower and shared knowledge of a work place Allow the company to achieve unique and significant results Knowledge Worker someone that is a critical asset to the workplace Should be self starter and willing to learn Globalization is the worldwide interdependence of resource flow, product markets and business competition More and more products are being made in one country and even the final assembly of the product takes place in another country They operate as global business that view themselves as equidistant(central) from customers and suppliers, wherever in the world they may be located Example, Ballard Power System Process: Improvements in technology (especially in communications and transportation) combine with the deregulations of markets and open borders to bring vastly expanded flow of people, money, good, services and information In the globalized world, governments and companies are very competitive btw each other Technology Technology is an important part of everyday operations Communications, networking and computers www.notesolution.com
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