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Midterm

GMS Notes - Midterm Exam

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Department
Global Management Studies
Course
GMS 200
Professor
Jian Guan
Semester
Fall

Description
GMS 200 Notes Chapter 1 Competitive Advantage • When an organization is extremely well at to something, better than its competitors. • 4 ways to achieve: o Price – make production cheaper o Quality – make quality better o Delivery – deliver faster o Flexibility – better suit for customer Environmental Uncertainty • Lack of full info about environment • 2 factors affecting it: o Rate of change (of factors) o Complexity (# of factors) Organizational Effectiveness • Sustainable high performance of using resources to complete goals • 4 ways to achieve it: o Systems resource approach – looks at the input/getting material o Internal process approach – looks at processing/efficiency of resource use o Goal resource approach – looks at output o Strategic constituencies – looks at stakeholder impact Manager • Supports, activates and responsible for the work of others • 3 levels of managers: o Top – manage performance of organization as a whole (ex. CEO, Vice-president, and president) o Middle – manage regional areas/departments (ex. Clinic directors, deans, plant managers) o Team Leader – manage the non-managerial worker • 5 types of managers: GMS 200 Notes o Line – directly affect the performance of the organization o Staff – provide assistance/advice to line workers o Functional – deal with accounting, marketing, and functions related to those things o General – manage complex multifunctional units o Administrative – managers in public/not-for-profit organizations Accountability • Requirement to show performance results to supervisor Quality work life • Overall experiences in the workplace Up-side down triangle theory • managers support workers, who serve customers 4 functions of management: • planning – setting goals, and how to get it done • organizing – allocating resources to achieve goals • leading – arousing enthusiasm, inspiring effort to achieve goal • controlling – making sure goal gets achieved 10 roles of management: • monitor – scan for info • disseminator – share info • spokesperson – communicate info • figurehead – model for others • leader – inspire others • liaison – working with others • disturbance – handling problems • resource – handling budgets • negotiator – making deals • entrepreneurship – new innovations GMS 200 Notes Mintzberg Theory • Manager always busy Today’s Economy Increase in: • Intellectual capital – shared knowledge, or collective brain power of an organization • Ethics – moral standards that dictates what’s “right” or “wrong” • Diversity – difference among people (ex. Race, gender) • Globalization – the interdependence of countries within the world Prejudice • Negative attitude toward a specific group of people in a diverse population Discrimination • Acting on negative attitudes and actively deny full benefits of organization Glass Ceiling Effect • Invisible barrier that holds back women/minorities from further advancing their career Organization • Group of people working together to reach a common goal Open System • A type of organization that takes raw inputs, processes it, and results in a product as an output Productivity • The amount of output/products in comparison to the amount of input/resource/cost • Quantity and quality of work performance , with resource utilization Performance Efficiency • Measure of resource cost that associates with goal accomplishments Performance Effectiveness • Measure of goal/task accomplishments Changes in Today’s Organizations: • More belief in human capital • Less commanding bosses • More teamwork GMS 200 Notes • New technology • Work/life concern • More networking • Speedy General Environment: • Political/Law Environment • Natural Environment • Socio-Cultural Environment • Technological Environment • Economic Environment Specific Environment • Environment that is established through the groups interactions with other organizations AKA tasks Stakeholders • People/Groups that are affected by an organization Sustainable business • Businesses that meet the customer’s needs, but also protects the natural environment Sustainable Innovation • Creates products that have reduced environmental impact Value Creation • Creation of value for satisfying needs of stakeholders • 4 key stakeholders o Customer – value created through the price, product and quality o Owner – value created in profit and loss o Supplier – value created in long term business relations o Employee – value created in wages and job satisfaction Agenda Setting • Develops action priorities for accomplishing goals and plans Networking GMS 200 Notes • Creating positive relationships between your company and others Kotter Theory • Agenda setting and networking are critical to manager’s success 3 managerial skills: • Technical – special experience to perform task • Human – Interpersonal • Conceptual – analytically think/logically Katz Theory • Today demand of human and conceptual skills are high Emotional Intelligence • Ability to manage ourselves and our relationships Chapter 2 Classical Management • People at work at act in a rational manner that is primarily driven by economic concerns • 3 subcategories: o Scientific Management – careful selection/training of workers  4 principles: • Carefully select workers with the right abilities for the job • Support workers by planning their work • Train workers and give proper incentives • Science of job (motion, proper work condition) GMS 200 Notes o Administrative principles  3 principles: • Order • Initiative • Equity o Bureaucratic organization – rational/efficient founded on logic/order  5 principles • Clear division of labor – job well defined • Clear hierarchy of authority – authority/responsible • Rates and procedure – written guidelines • Impersonality – all rules applied • Career based on merit – promoted on ability/skill/perform Webber Theory • Bureaucracy best because capable of attaining highest degree of efficiency Disadvantage of bureau • Too much paperwork • Resistance to change • Employee apathy Follet View • Organizations are communities where managers and workers labor in peace, there is no dominance Hawthorne Effect • Singling out a worker to perform as expected Hawthorne Theory • Emergence of human relations in 50s and 60s, evolved to organizational behaviour Need • Physiological and psychological lack that has to be satisfied Maslow Theory GMS 200 Notes • States that
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