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Midterm

GMS Midterm Notes.docx

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Department
Global Management Studies
Course
GMS 200
Professor
Shavin Malhorta
Semester
Winter

Description
GMS Midterm Notes Chapter 1: -Living in economy with challenge and uncertainty -Influenced much by technology and internet -New economy is knowledge based and themes include teamwork, participation, involvement, empowerment and self-management -New economy is performance driven Organizations are expected to excel on performance criteria includes concerns for ethics and social responsibilities -Takes initiative, discipline, and continuous learning to stay in change of your career path -Herman Miller Motto: Innovative, our greatest asset is the abilities, gifts and talents of employers -Organizational Performance: 1. Intellectual Capital: Collective brainpower or shared knowledge of workforce 2. Knowledge Worker: Someones mind is an asset to the business 3. Globalization: Worldwide use of resource flows, product markets and business competition -Computer technology brings the global companies together through a virtual space: people hold meetings, access common data bases, make plans, etc. 4. Workforce Diversity: Describes differences in age, gender, sexual orientation, ethnicity of a workforce 5. Prejudice: Displays negativity towards women and minorities 6. Discrimination: Denies women and minorities benefits of fall membership -White sounding names like Brett received 50 percent more responses on resumes than minority names like Kareem 7. Glass Ceiling Effect: Invisible barrier limiting career advancement women and minorities 8. Ethics: Set moral standards of what is good and right in ones behaviour 9. Corporate Governance: Oversight of a companys management by board of directors -Shamrock organization with the three leaves, 1)One for core workers 2)Contract workers 3)Part-time workers 10. Organization: Collection of people working together to achieve a common goal -Organizations share a broad purpose providing useful goods/services 11.Open Systems: Organizations interact with environment to transform resources into product outputs -Value is made when resources are used right 12. Productivity: Quantity and Quality of work performance with resource utilization considered 13. Performance Effectiveness: Output measure of task or goal accomplishment 14. Performance Efficiency: Input measure of resource associated with goal accomplishment Organizational Transitions: 1) Belief in Human Capital: High involvement in workforce 2) Demise of command & Control: The do as I say bees does not work 3) Emphasis on teamwork: Less vertical, more horizontal 4) Pre-Eminence of technology: Coming age of technology 5) Embrace Networking 6) New workforce expectations 7) Concern for work life balance 15. Total Quality Management: Managing with continuous improvement, product quality and customer satisfaction and committing to it. Manager: Person who supports and is responsible for the work of others 1. Top Managers: Guide the performance of the organization as a whole or one of its parts ex. CEO, President, VP 2. Middle Managers: Oversee work of large departments or divisions ex. Clinic directors, deans, division managers, plant managers 3. Project Managers: Co-ordinate complex projects with task deadlines 4. Team Leaders: Someone in charge of small group work Types of Managers: 1. Line Managers: Responsible for work activities that make direct contribution to works outputs 2. Staff Managers: Use special technical to advice and support line workers 3. Functional Managers: Responsible for one area, ex. Finance, marketing, accounting, sales 4. General Managers: Responsible for complex multi functional units 5. Administrator: Manager in public or non profit organization -Four functions of Management Process: Planning, Controlling, Organizing, Leading 1. Planning: Setting goals and deciding how to achieve them 2. Controlling: Measuring performance and taking action to ensure desired results 3. Leading: Inspiring people to achieve higher perform to work hard to achieve goals 4. Organizing: Arranging tasks, people and other resources to accomplish work -Management: Process of organizing, leading, controlling and planning 1. Interpersonal Roles: How managers interact with other people ex. Liason, Leader, Figurehead 2. Informational Roles: How a manager exchanges and processes information ex. Monitor, Spokesperson 3. Decisional Roles: How a manager uses information in decision making ex. Entrepreneur Negotiator 4. Skill: Ability to translate knowledge into performance Three Skills: 1) Conceptual: Ability to think analytically and problem solve 2) Human: Ability to teamwork and work well with other people 3) Technical: Ability to apply expertise and perform with efficiency 5. Emotional Intelligence: How me manage ourselves and relationships 6. Managerial Contempency: Is a skill based capability for high performance 1. Communication: Ability to share ideas and findings through writing and oral 2. Teamwork: Ability to work effectively as a team member and leader 3. Self-Management: Ability to evaluate oneself 4. Leadership: Ability to influence and support others to perform tasks 5. Critical Thinking: Ability to gather info for creative thinking 6. Professionalism: Ability to sustain a positive impressionChapter 7 Notes: 1. Information Technology: The use of electronic devices that aid in creation management and use of info. -Really starting to come up-Info Technology -Productivity of knowledge and knowledge workers is the decisive competitive factor 2.Knowledge Worker: Add value to organizations through intellect 3. Intellectual Capital: The collective brainpower or shared knowledge of a workforce -Knowledge and intellectual capital are irreplaceable resources 4. Electronic Commerce: Is buying and selling goods and services through use and internet ex. B2B, Chapters, Indigo -IT is charging organizations by breaking barriers Physical communication is easier -Fewer middle managers are needed Plays important role in customer relationship management -Controls costs in supply-chain management 5. Instant Messaging: Instantaneous communication between people at the same time 6. Peer to Peer File Sharing: Connects PCs directly to one another over the internet -Nortel uses voice over internet protocol following stages of development of e-commerce: 1. Secure an online identity 2. Establish a web presence 3.Enable e-commerce 4. Provide e-commerce and customer relationship management 5. Utilize a service application model -IT breaks barriers between organizations and key elements in the external environment -IT al
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