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Ryerson University
Global Management Studies
GMS 200
Shavin Malhotra

Chapter 1 The Dynamic New Workplace stthe 21 century has brought with it a new work place one which everyone must adapt to a rapidly changing society with constantly shifting demands and opportunities economy is global driver by innovation and technology smart people and smart organizations create their own featuresThe best employers share an important commitment they value people offer supportative workenvironments that allow peoples talents to be fully utilized while providing them with both valued rewards and respect for work life balance in organizations employees benefit from flexible work schedules onsite child care health and fitness centers domestic partner benefits as well as opportunities for profit sharing cash bonusesWorking in the New Economy networked economy in which people institutions and nations are increasingly influenced by the Internet and developments from IT new economy is also knowledge based themes of the day are respect participation empowerment involvement etc success must be earned in a society that demands nothing less than the best form all its institutions organizations are expected for ethics and social responsibility innovativeness employee development profitability and investment value when they fail customers investors and employees are quick to let them knowFor individuals there are not guarantees of long term employment jobs are increasingly earned and re earned every day though ones performance accomplishment careers can be redefined in terms of flexibilitytoday it takes initiative discipline and continuous learning to stay in charge of your own career destinyIntellectual Capital difference between being successful and being exceptional being successful is meeting goals in a good way and being exceptional is reaching your potential people what they know what they learn what they do with it are the ultimate foundations of organizational performanceThey represent an intellectual capital which is the collective brainpower or shared knowledgeof a workforceAbility to combine the talents of many people sometimes thousands of them to achieve unique and significant results New age of the knowledge workers someone whose mind is a critical asset to employersIf you want a successful career you must be willing to reach for the heights of personal competency and accomplishmentLearn from experienceGlobalization more and more products are designed in one country while their component parts are made in others globalization is the worldwide interdependence of resource flows product markets and business competition in globalized world countries and people are interconnected through the news in travel and life style government leaders now worry about the competitiveness of nations just as corporate leaders worry about business competivenessTechnology we now live in a technology driven world increasingly dominated by car codes automatic tellers computerized telemarketing campaigns electronic mail internet resources electronic commerce technology is an indispensable part of everyday operations computer network can bring together almost anyone from anywhere in the world with the touch of a keyboard in virtual space people hold meetings access common data base share information and files make plans and solve problems togetherDiversity workforce diversity describes the difference in gender race age ethnicity and able bodiless religious affiliation and sexual orientation amount workers by valuing diversity organizations can tap a rich talent pool and help everyone work to their full potential a recent study revealed for exampleWhen resumes are sent to potential employees those with white sounding first names like Brett receive 50 more responses than those with black sounding first names such as Kareem diversity bias can still be limiting factor in too many work settings prejudice displays negative irrational attitudes towards women or minorities discrimination is when members are unfairly treated and denied the full benefit of organizational membershipA subtle form of discrimination is called glass ceiling effect which is when invisible barrier limiting career advancement of women and minoritiesEthics ethics is defined as a code of moral principles that set standards of what is good and right as opposed to bad or wrong in the conduct of a person or group ethnical failures are well publicized there is a plethora of positive cases and ethical role models to be studied as well ethical leadership are those who meet the standards of ethical reawakening that places high value on social responsibility in business and organizational practices society is becoming strict businesses by law must have boards of directors that are elected by stockholders to represent their interests corporate governance is oversight of a companys management by a board of directorsCareers there are 3 levels that have different career implication 1 One leaf that are the core workersThese full time employees pursure traditional career paths with success and maintenance of critical skills they can advance with the organizations and remain employed for a long time 2 Second leaf are contract workersThey perform specific tasks as needed by the organization and are compensated on a fee for services basis rather than a continuing wage or salary 3 Third leaf are part time workers
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