GMS200 CH 1 Notes

4 Pages
Unlock Document

Global Management Studies
GMS 200
Bamidele Adekunle

CH 1 – Introducing management Talent Intellectual capital is the collective brainpower or shared knowledge of a workforce that can be used to create value. (Competency x Commitment) A knowledge worker is someone whose mind is a critical asset to employers. Diversity Workforce diversity describes the composition of a workforce in terms of differences among people according to gender, age, race, ethnicity, religion, sexual orientation, and capabilities. Prejudice is the display of negative, irrational attitudes toward members of diverse populations. Discrimination actively denies minority members the full benefits of organizational membership (ex: glass ceiling effect). Globalization – the worldwide interdependence of resource flows, product markets, and business competition Technology- technology is an crucial part of everyday business and helped with globalization communication. It has also added flexibility to workplaces through things like, telecommuting. Ethics – set of moral standards of what is “good” and “right” in one’s behaviour. Careers – skills should be portable and always of value. Portfolio workers are people who always have the skills needed to readily shift jobs and even careers. Some critical skills include mastering, networking, entrepreneurship, tech-savvy, marketing and passion for renewal Organizations in the new workplace What is an organization? Organizations are collection of people working together to achieve a common purpose. All organizations share a purpose of providing goods or services of value to customers and clients. Organizations as systems: organizations are open systems (they transform resource inputs from the environment into product outputs) that interact with their environments in the continual process of obtaining resource inputs and then transforming them into outputs in the form of finished goods and services for their customers. Organizational performance: When operations add value to the original cost of resource inputs, then 1) a business organization can earn a profit or 2) a non-profit organization can add wealth to society. A way to tell is through productivity which measures the quantity and quality of outputs relative to the cost of inputs. Performance effectiveness is an output measure of task or goal accomplishment. Performance efficiency is an input measure of the resource costs associated with goal accomplishments. Productivity = effective and efficient performance. Changing nature of organizations: Organizational trends and transitions: Renewed belief in human capital: demands of the new economy place premiums on high-involvement and participatory work settings that rally the knowledge, experience, and commitment of all members. Demise of “command-and-control”: traditional hierarchical structures with “do as I say” bosses are proving too slow, and costly to do well in today’s competitive environment. Emphasis on teamwork: driven teamwork which pools talents for creative problem solving. Pre-eminence of technology: new opportunities appear with each development in computer and information technology; they continually change the way organizations operate and how people work. Embrace of networking: organizations are networked for intense, real-time communication and coordination, internally among parts and external with partners, contractors, suppliers and customers New workforce expectations: a new generation of workers brings to the workplace less tolerance for hierarchy, more informality, and more attention to performance merit than to status and seniority. Concern for work-life balance: As society increases in complexity, workers are forcing organizations to pay more attention to balance in the often-conflicting demands of work and personal affairs. Focus on speed: everything moves fast, so those who get products to market first have an advantage, work is now expected to be done both well and in a timely manner. Organizational Environment Dynamic forces and the general environment: General environment of organizations consists of all external conditions (economic, legal-political, technological, socio-cultural and natural environmental conditions) that set the context for managerial decision-making. Economic conditions: some of these influence customer spending, resource supplies and investment capital that is crucial for managers to recognize. Legal-Political conditions: monitor changes to understand the trends that can affect the regulation and oversight of businesses. Internet censorship is the deliberate blockage and denial of public access to information posted on the Internet. Technological conditions: technology is only evolving, so you must be up-date with it. Socio-cultural conditions: these conditions take meaning as norms, customers and social values on matters like ethics, human rights, gender roles and lifestyles. All such changes have consequences for how organizations are managed. Natural environment conditions: going “green” is one of the impacts/changes we have seen in the past few years. Public concern to such matters changes the way organizations will run. Sustainable business is when firms operate in ways that both meet the needs of customers and protect or advance the well-being of our natural environment. Sustainable innovation creates new products and production methods that have reduced environmental impact. Stakeholders and the specific environment: Specific environment (task environment) includes the people and groups with whom an organization interacts and conducts business with. Members of the specific environment are often described as stakeholders, who are the persons, groups and institutions directly affect by an organization. Value creation is the creation of value for and satisfying needs of stakeholders. Competitive Advantage: refers to something that an organization does extremely well, a core competency that clearly sets it apart from competitors and gives it an advantage over them in the marketplace. Competitive advantage is linked with strategic positioning which occurs when an organization does different things or the same things in different ways from its major competitors. Competitive advantage can be achieved in the follow ways: Achieved through costs- finding ways to operate with lower costs and earn profits Through quality- create products/services that are demonstrably and consistently higher quality for customers Through delivery- finding ways to outperform competitors by delivering products and services to customers factored and consistently on time, and to continue to develop timely new products Through flexibility – finding ways to adjust and tailor products and services to fit customer needs in ways that are difficult for one’s competitors to match Environmental Uncertainty: means that there is a lack of complete information regarding what exists and what developments may occur about the environment. There are two dimensions of environmental uncertainty: 1) Degree of complexity or the number of different factors in the environment – an environment is either classified as relatively simple or complex. 2) Rate of change in and among these factors – environment classified as stable or dynamic. High uncertainty environments require firms to have flexibility and adaptability. Organizational effectiveness: is sustainable high performance in using resources to accomplish a mission and objectives. Organizational effectiveness in different viewpoints: Systems resource approach: looks at the input side and defines organizational effectiveness in terms of success in acquiring needed resources from the organization’s environment Internal process approach: looks at the transformation process and defines organizational effectiveness in terms of how efficiently resources are utilized to product goods and services. Goal approach: looks at the output side and defines organizational effectiveness in terms of how to measure achievement of key operating objectives. Strategic constituencies approach: looks at the external environment and defines organizational effect
More Less

Related notes for GMS 200

Log In


Join OneClass

Access over 10 million pages of study
documents for 1.3 million courses.

Sign up

Join to view


By registering, I agree to the Terms and Privacy Policies
Already have an account?
Just a few more details

So we can recommend you notes for your school.

Reset Password

Please enter below the email address you registered with and we will send you a link to reset your password.

Add your courses

Get notes from the top students in your class.