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Global Management Studies
GMS 200
Peter Rambert

Introduction to Global Management 200: Introducing Management An overview of the new workplace - World of work going under changes that give us opportunities along with uncertainty - Changes effect trends regarding intellectual capital, globalization (iphone5 release), technology (toys r’ us tot ipad), workforce diversity, ethics (last 10 years scandals increase) and careers (baby boomer times vs. Today) - Dynamics of ever-present change extend into workplace and raise a host of new career challenges - Smart workers commit to continuous learning and personal development - Companies with a future commit to employees (people) and offer inspirational leadership, reward, respect people and provide a supportive work environment Six areas where the world of business has undergone change - Internet has leveled the playing field for small companies - New business models, communication tech and distribution methods enable businesses to take products/services wherever they want - Philanthropic - New generation of workers changing management styles and corporate culture as they force baby boomer bosses to consider worth ethic - China grows to become biggest economic power (SUNDAY 9: Canada signs treaty with china to make it easier to trade) (2011: 9.3% increase in china’s GDP) (BRAZIL, RUSSIA, INDIA, CHINA) - Everyone has access to the same information “just google it” Challenges of working in the New Economy - Knowledge is the key resource in society – Peter Drucker - Three main characteristics in the knowledge society  Borderlessness; knowledge travels more effortlessly than money  Upward Mobility; available to everyone through formal education  The potential for failure as well as success; anyone can acquire the means of production, that is, the knowledge required for the job, but not everyone can win Talent - Individual and organizational success but be forged within workplaces that are constantly reinventing themselves - Empowerment, involvement, participation, self-management and team work are common as ppl manage careers described as entrepreneurial - To excel, organization must utilize human capital to the fullest potential - High performers are successful because they are better than their competitors at getting results from workers - Intellectual Capital; collective brain power/shared knowledge of workforce (what they know/learn, how they use knowledge) - Knowledge Worker; mind is asset to employers, offers something to an organization - Knowledge Driven; organizations intellectual capital Diversity - Diversity; provides challenge in terms of required employer support but also offers opportunities (performance gains) - Workforce Diversity; differences among workers (gender, race, age, etc.) - Prejudice; display of negative, irrational attitudes toward members f a diverse population, it turns into Discrimination when a minority is actively denied full benefits of organizational benefits Globalization - Globalization; no boundaries, worldwide interdependence of resource flows, product markets and business competition that characterizes new econ - Performance-driven; internet transformed modern workplace - Ethics; modern society expects that businesses conduct affairs to high moral standards - Corporate Governance; active oversight of management decisions and company actions by board of directors - Careers; full time workers, contract workers (second leaf), part-time (third leaf) [Charles handy shamrock), maintain a portfolio of skills that are always up-to-date and valuable to potential employers Ethics - Set of moral standards of what is good/right in one’s behavior - Respect for sustainable development, environment consumers and human rights Careers - Organizations consists of three types of workers, shamrock organization Some Crucial Survival Skills for Success in the New Workplace - Mastery; be good at something (contribute something of value) - Contacts; you need to know people - Love technology - Marketing; be able to communicate your personal successes - Passion for renewal; continuously learning Definition and role of an Organization - Organization; collection of ppl working together to achieve a common purpose - From society’s viewpoint, purpose of any organization is to provide useful goods/services - open systems that interact with the environment in the continual process of transforming resource inputs into product outputs in the form of finished goods/services - Environmental feedback tells an organization how well it is meeting the needs of society - Enviro supplies ppl money mat  organization creates product --? **diagram Organizations as Systems - When organizations are viewed as open systems, value creation is very important. - Transforms resource inputs from - the environment into product outputs - Environment supplies people/money/materials - Organization transforms supplies - Environment consumes finished goods Changing Nature of Organizations - Workplace changes that provide an important context for the study of management - Renewed belief in human capital, demise of command-and-control, emphasis on teamwork, preeminence of technology, embrace of networking, new workforce expectations, concern for work-life balance, focus on speed - Total Quality Management involves managing with an organization-wide commitment to continuous improvement and meeting customer needs completely (RIM) Organizational Performance - Resources must be well utilized and customers must be well served - If value added to original cost, business earns a profit/adds wealth to society - A common way to describe how well an organization is performing overall is productivity - Productivity is a summary measure of the quantity and quality of work performance with resource utilization taken into account - Performance Effectiveness Output measure of task or goal accomplishment - Performance Efficiency; Input measure of the resource costs associated with goal accomplishment The External Environment of Organizations - General environment - PESTLE (political, economic, social, technological, legal and environmental) invariably has an impact upon, the general or macro environment in which the organization operates - All the organization can do is monitor these factors, they have no control over them - Legal/Political – laws and regulations, business forms, political trends - Natural Environment – green values, recycling infrastructure - Socio-Cultural – population demographics, education system, health/nutrition values - Technological – IT systems/infrastructure, broadband internet access - Economic – growth, unemployment rate, disposable income Stakeholders and the Specific Environment - Specific environment- task environment, includes ppl and groups with whom environment interacts - Members of specific environment are stakeholders. Influence the way organization operates , can be customers, s
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