GMS 200 Lecture Notes - Lecture 1: Offshoring, Intellectual Capital, Telecommuting
21 Apr 2020
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CHAPTER 1 Introducing Management
New Workplace
● Work in the new economy is increasingly knowledge-based, and people, with their
capacity to bring valuable intellectual capital to the workplace, are the ultimate
foundation of organizational performance
Talent
● Intellectual Capital is the combined brainpower and shared knowledge of an organization’s
employees
● A knowledge worker’s mind is a critical asset to employers and added to the intellectual
capital of an organization
Technology
● Tech IQ is a person’s ability to use current technologies at work and in personal life:
○ Checking inventory, making a sales transaction, ordering supplies
○ Telecommuting
○ Virtual teams
○ A.I.
Globalization
● The worldwide interdependence of resource flows, product markets, and business
competition that characterize our economy
● Job migration occurs when firms shift jobs from one country to another
● Reshoring is the shifting of manufacturing and jobs back home from overseas
Ethics
● Code of moral principles that set standards of conduct of what is “good” and “right”, as well
as “bad” and “wrong”
○ An individual behaviour
○ In business practices
WORKING TODAY
Corporate Governance
● Board of directors hold top management responsible for organizational performance
○ financial performance
○ Ethical performance
○ Sustainability
Diversity
● Workforce diversity reflects differences 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
Careers and Connections
● Organizations consist of three types of workers, sometimes referred to as a shamrock
organization
○ Permanent full-time workers
○ Temporary part-time workers
○ Freelance or contract workers
● Free-agent economy
○ People change jobs more often and work on flexible contracts
● Self-management
○ Ability to assess oneself realistically, recognize strengths and weaknesses, make
constructive changes, and manage personal development
ORGANIZATIONS
● A collection of people working together to achieve a common purpose
● Organizations provide goods and services of value to customers and clients and seek to
serve society
● Organizations as open systems interact with their environment
Organizational performance
● “Value creation”: add value to the original cost of resource inputs
● When value creation occurs:
○ Business earn a profit
○ The non-profit organization provide goods and services
Productivity: An overall measure of the quantity and quality of work performance with resource
utilization taken into account
Performance effectiveness: an output measure of task or goal accomplishment
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Document Summary
Work in the new economy is increasingly knowledge-based, and people, with their capacity to bring valuable intellectual capital to the workplace, are the ultimate foundation of organizational performance. Intellectual capital is the combined brainpower and shared knowledge of an organization"s. A knowledge worker"s mind is a critical asset to employers and added to the intellectual. Tech iq is a person"s ability to use current technologies at work and in personal life: Checking inventory, making a sales transaction, ordering supplies. The worldwide interdependence of resource flows, product markets, and business competition that characterize our economy. Job migration occurs when firms shift jobs from one country to another. Reshoring is the shifting of manufacturing and jobs back home from overseas. Code of moral principles that set standards of conduct of what is good and right , as well as bad and wrong . Board of directors hold top management responsible for organizational performance financial performance.
