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GMS MIDTERM REVIEW - Chapter 1.docx

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Global Management Studies
GMS 200
Helene Moore

GMS MIDTERM REVIEW CHAPTER 1: INTRODCING MANAGEMENT • Management includes words such as: respect, participation, empowerment, involvement, teamwork and self-management TALENT • Intellectual Capital: collective brainpower or shared knowledge of workforce that can be used to create value - people with talents o Intellectual Capital = Competency x Commitment • Knowledge Worker: someone's mind that is a critical asset to employers DIVERSITY • Workforce Diversity: differences among people according to gender, age, race, ethnicity, religion and sexual orientation • Prejudice: display of negative, irrational attitudes towards members of diverse populations • Discrimination: denying the minority members the full benefits of organizational membership • The Glass Ceiling Effect: prevents visible minorities from rising above a certain level of organizational responsibility GLOBALIZATION • Globalization: worldwide interdependence (unable to survive without one another) of resource flows, product markets and business competition o It is also described as improvement in technology TECHNOLOGY • We live in a technology-driven world increasingly dominated by bar codes, automatic tellers, e-mail and instant messaging • Physical distance hardly matters anymore ETHICS • Ethics: code of moral principles that sets standards of what is "good" and "right" o Include things like: protection of natural environment, protection of customers through product safety, protection of human rights CAREERS • Today's career challenge is to find a job and also successfully plan your career • The Shamrock Organization consists of o Independent Contractors o Full-Time Core Workers o Part-Time Temporaries • Portfolio Worker: someone who has skills needed to shift jobs and even careers What IsAn Organization? • Organization: a collection of people working together to achieve a common purpose o It allows people to perform tasks that reach beyond individual accomplishment o The purpose is to provide goods or services of value to customers • Open Systems: interaction within the environment by obtaining resource inputs and transforming them into outputs in the form of finished goods or services Organizational Performance • Productivity: quantity and quality of work performance relative to cost of inputs • Performance effectiveness: output measure of task or goal accomplishment • Performance efficiency: input measure of resource cost associated with goal accomplishment o At the end you want, effective and efficient result. Goals must be achieved with no wasted resources to produce high productivity Changing Nature of Organizations • Renewed belief in human capital: • Demise of "command-and-control • Emphasis on teamwork • Pre-eminence (domination) of technology • Embrace of networking • New workforce expectations: less tolerance for hierarchy, more informality, and more attention performance merit than to status and seniority. • Concern for work-life balance • Focus on speed Dynamic Forces and General Environment • General Environment: consists of all external conditions that set managerial decision making o Economic, Legal-Political, Socio-Cultural, Natural and Technological Environment Economic Conditions • Economic growth, unemployment rates, disposable income • Things like financial markets, inflation, income levels, gross domestic product affect wealth available to consumers and this affects product markets and spending patterns Legal Political Conditions • Law and regulations, business forms, political trends • These conditions are represented by existing and proposed laws and regulations, government policies and philosophy and objectives of political parties • Internet Censorship: blockage and denial of public access to information posted on internet Technological Conditions • IT systems/ infrastructure, broadband internet access • Not only must managers stay abreast of the latest technologies for their work applications, they must also be aware of their work implications Socio-Cultural Environment • population demographics, education system, health/nutrition values Natural Environment • "green" values and recycling infrastructure CompetitiveAdvantage • Allows organizations to deal with market and environmental forces better than its competitors • Being able to do things better than its competitor • Strategic Positioning: helping organizations to do different or same things in comparison to competitors • CompetitiveAdvantage can be achieved through: o costs o quality o delivery o flexibility Levels of Managers Top Managers • High levels include: CEO, President and Vice President • These Top Managers are responsible for the performance of an organization as a whole or for large parts • They pay attention to external environment, be ready for long-run problems and opportunities • They communicate long-term vision and ensure strategies and objectives are met Middle Managers • Middle Managers include: Clinic directors, Deans in universities and Division Managers • These Middle Managers are responsible for large departments or divisions consisting several small units • These managers work with top managers and coordinate with peers to develop actions First Line Manager -Team Leader • This person is in charge of small work groups composed to non-managerial workers • Their job title include: department head, group leader and unit manager Types of Managers • Line Managers: responsible for work that makes a direct contribution to organization's outputs o Ex: Retail manager deals directly with sales operations of the store • Staff Managers: use technical expertise to advise and support line workers o Ex: Directory of HR • Functional Managers: responsible for one area such as marketing, production, personnel, accounting or sales • General Managers: responsible for complex and multifunctional units • Administrator: manager in public or non-profit organization Changing Nature of Managerial Workplace • Upside-down pyramid: In this pyramid, operating workers are at the top, serving customers, while managers are at the bottom supporting them • Top Managers who keep organization's mission and strategies clear ----support---> Team Leaders and Managers who help the operating workers to do their job ----support---> Operating Workers who work directly with customer satisfaction ---serve ----> Customers and Clients Introduction to Global Management What can you expect to learn from an introductory course in global management? • The Management Process: Managers PLAN ---> ORGANIZE work amongst people ----> be LEADERS and achieve high performance goals ----> CONTROLthe measuring performance and take action to ensure desired results • Planning: setting objectives and deciding how to achieve them • Organizing: assigning tasks to accomplish work • Leading: inspiring people to work hard to achieve high performance • Controlling: measuring performance and ta
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