MGM101H5 Chapter : Sch ch 1

• School: UTM
• Department: Management
• Course: MGM101H5
• Professor: James Appleyard

Document Summary

Lecture 2: management & leadership - sch ch 1. 21st century = new workplace where everyone must adapt to a rapidly changing environment with constantly shifting demands and opportunities. Economy = global and driven by innovation and technology. New customer expectations changes many business concepts (success, personal etc. ) Supportive work environments that allow peoples talents to be fully utilized while providing them with both valued rewards and respect for work-life balance. Opportunities for profit sharing, cash bonuses and competitive salaries. Success = beating competitors by utilizing employees abilities to their highest value. New economy challenging opportunities and dramatic uncertainty knowledge based. Networked economy in which ppl, institutions, and nations are more and more dependent on the internet and continuing developments in it. Career destiny = initiative, discipline and continuous learning. Success = meeting goals in a good way. What people know, learn and what they do with that knowledge, are the ultimate foundations of organizational performance.