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Lecture 98

GMS 200 Lecture Notes - Lecture 98: Insourcing, Flattening, Southern African Development Community


Department
Global Management Studies
Course Code
GMS 200
Professor
Hamid Faridani
Lecture
98

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Chapter 1: Introducing Management
1.1 Working Today
The dynamics of ever-present change extend into the workplace and raise a host of new
career challenges
Smart people commit their energies and intellect to continuous learning and personal
development
● Learning: a change in behaviour that results from experience
Companies with a future are committed to people
Companies with a future offer inspirational leadership, reward and respect people, and
provide supportive work environments
High performing companies gain extraordinary results from people.
● Talent:
People and their talents are the ultimate foundations of organizational
performance
Intellectual capital is the collective brainpower or shared knowledge of a
workforce that can be used to create value
A knowledge worker’s mind is a critical asset to employers and adds to the
intellectual capital of an organization
● Diversity:
Workforce diversity: describes differences among workers in gender, race, age,
ethnicity, religion, sexual orientation, and able-bodiedness
A diverse and multicultural workforce both challenges and offers opportunities to
employers
Many call diversity a “business imperative” and view it as an asset
How diversity bias can occur in the workplace:
■ Prejudice: the holding of negative, irrational opinions and attitudes
regarding members of diverse populations
Discrimination: putting members of a population at a disadvantage by
treating them unfairly and denying them the full benefits of organizational
membership
Glass Ceiling Effect: an invisible barrier that prevents women and
minorities from rising above a certain level of organizational
responsibility.
Globalization: worldwide interdependence of resource flows, product markets,
and business competition that characterize the new economy.
National boundaries of world business have largely disappeared
Technology:
Continuing transformation of the modern workplace through:

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The Internet
World Wide Web
Computer Networking
Information Technology: helps one acquire, store and process information.
Telecommuting/virtual teaming/mobile offices
Increasing demand for knowledge workers with the skills to fully
use technology
● Ethics:
Code of moral principles that set standards of conduct of what is good and right
Ethical expectations for modern businesses:
Integrity and ethical leadership at all levels
Sustainable development
Natural environment protection
Consumer protection
Human rights
Careers:
Core workers, contract workers, and part-time workers
People must be prepared to be any one of these types of workers
People must make sure that their skills are portable and of current value in
employment markets
1.2 Organizations in the New Workplace
Critical survival skills for success in the new workplace:
Mastery
Networking: the process of building and maintaining positive relationships with
people whose help may be needed to implement one’s agenda
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 services that return value to society
and satisfy customer needs
Organizations are open systems:
Open system: a system that interacts with its environment in the continual
process of transforming resource inputs into product outputs in the form of
finished goods and/or services
Composed of interrelated parts that function together to achieve a common
purpose
Interact with their environments
Transform resource inputs into product outputs (goods and services)

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Environmental feedback tells organization how well it is meeting the needs of
customers and society
Organizational performance:
Value creation is a very important notion for organizations
the extent to which the organization is creating value for and satisfying the
needs of important constituencies
Value is created when an organization’s operations adds value to the original cost
of resource inputs
When value creation occurs:
Businesses earn a profit
Nonprofit organizations add wealth to society
Productivity: An overall measure of the quantity and quality of outputs relative
to the cost of inputs
Performance effectiveness: An output measure of task or goal accomplishment
Performance efficiency: An input measure of the resource costs associated with
goal accomplishment
Figure 1.3
Productivity and the dimensions of organizational performance
● Organizations:
Workplace changes that provide a context for studying management
Priorities on sustainability
Valuing human capital
Demise of “command-and-control”
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