GMS - Preet.docx

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Department
Global Management Studies
Course
GMS 200
Professor
Horatio Morgan
Semester
Winter

Description
Chapter One Introducing Management Everyone must adapt to a rapidly changing society with constantly shifting demands and opportunities o Learning and speed are in Working Today: Organizations are expected to continuously excel on performance criteria that include: ethics and social responsibilities, innovativeness, and employee development. No guarantees to long term employment Talent: Employers hire employees based on exceptional behavior rather then being successful. Being exceptional is reaching your potential, where being successful is just meeting standards of an employer. Figuring out how to get the best out of your people is how companies are successful Talents what they know, what they learn, and what they do with it o Intellectual Capital The collective brainpower or shared knowledge of a workforce that creates value The challenge of organizations is: combining talents of many people to achieve unique and significant results. Intellectual Capital = Competency x Commitment o You must be a source of intellectual capital for employees and reach personal competency and accomplishment. This makes an individual a knowledge worker: o Someone whose mind is a critical asset to employees and adds to the intellectual capital of the organization Diversity: Workforce diversity describes the structure in terms of differences among people (age, gender, race, ethnicity) Diversity issues are not always handled well: o Prejudice display of negative, irrational attitudes toward members of diverse populations o Discrimination Actively denies minority members the full benefits of organizational membership o Glass ceiling effect An invisible barrier limiting career advancement of women and minorities Globalization: The worldwide interdependence of resource flows, product markets, and business competition A process in which improvements in technology open borders to bring about greatly expanded flows of people, money, goods, services, and information Countries and people are connected through: news, travel and lifestyles, employment patterns, and financial/business deals. Technology: Forces of globalization depend on the internet We live in a technology-driven world that is dominated by: bar codes, automatic tellers, email, instant messaging, text messaging, electronic commerce, and social networks. Physical distance does not matter anymore since a virtual world is now used often o Example: Toyota websites Ethics: Set moral standards of what is good and right as opposed to bad and wrong Careers: Internships for students is a prosperous way to land their first jobs The three leafed shamrock: Core workers (full time), Independent contractors, and Part-time temporaries o Core workers Pursue traditional career paths o Contract workers Compensated on a fee for service basis, they usually contract with many different employers o Part-time workers Hired only when needed and for as long as needed An individual should be able to prosper in any of the three leaves. o Portfolio worker Up to date skills that allow for job and career mobility An individual who always has the skills needed to switch jobs Organizations in the New Workplace: Early career survival skills: o Mastery Need to be good at something; must be able to contribute to your employer o Networking You need to know people link with peers and others within and outside of your organization o Entrepreneurship Act as if youre running your own business o Love of technology Must be willing and able to utilize info tech o Marketing Communicate your successes and progress o Passion for renewal Continuously learning and changing, always updating to future demands What is an Organization? A collection of people working together to achieve a common purpose. o Member are enabled to perform tasks that are far beyond the reach of individual accomplishment o Organizations share a broad purpose providing goods and services of value to customers and clients o Organizational strength is having quality products and services and customer satisfaction Organizations as Systems: Transforms resource inputs from the environment into product outputs o The environment supplies, the organizations creates, and the environment consumes Organizational Performance: A good performing organization must utilize resources well and its customers must be well served. If operations add value to the original costs of resource inputs then: o A business organization can earn a profit o A non profit organization can add wealth to society provide a public service thats worth more than its cost To describe how well an organization is performing overall is its productivity o Quantity and quality of work performance, with resource utilization considered o Performance effectiveness an output measure of task or goal accomplishment Meeting a daily production target in terms of quantity and quality o Performance efficiency an input measure of resource cost associated with goal accomplishment Changing nature of organizations: Renewed belief in human capital Demands of the new economy place high involvement and participatory work settings that rally the knowledge, experience, and commitment of all members. Demise of command and control Organizations are less vertical and more horizontal in focus; driven by teamwork that pools talents for creative problem solving Pre-eminence of technology New opportunities appear within each development in computer and information technology; 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 externally with partners, suppliers, and customers New workforce expectations A new generation of workers brings less tolerance for hierarchy and more attention to status rather then 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 demand of work and personal life Focus on speed Everything moves fast those who get products to markets first have an advantage. Work is expected to be done well and in a fast manner. Organizational Environment: General environment Composed of economic, legal-political, technological, socio-cultural, and natural environment conditions. External Conditions: o Economic Conditions Conditions that influence customer spending, resource supplies, and investment capital. The overall health of the markets (inflation, income). Examples: economic growth, unemployment rate, disposable income. o Legal-political conditions Represented by existing laws and regulations, government policies, and the philosophy and objective s of political parties. Corporate executives listen to debates to closely monitor trends that can affect their business Health care and sales taxes (Topic of debate) Business forms/ Political trends Internet censorship Deliberate blockage and denial of public access to information posted on the internet o Technological conditions Prospering as a tech-savvy employee/employ
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