GMS 200 Study Guide - Midterm Guide: Crisis Management, Morale, Angel Investor

• School: Ryerson University
• Department: Global Management Studies
• Course: GMS 200
• Professor: Ado

Document Summary

Globalization: a process of interaction and integration among people, companies, and governments of different nations. Process is driven by international trade and investment. National boundaries of world business have largely disappeared. Technology: (straight forward), there is increasing demand for workers with technological skills. Workforce diversity: involves: gender, age, ethnicity, religion, sexual orientation. Does offer challenges, opportunities and different perspectives to employers. Talent: intellectual capital which is collective brainpower of a workforce used to create value. Careers: people must ensure their skills are portable and current (up to date). Ethics: moral principles, what is good and what is bad. Value creation: organization"s operations add value to original cost of resource inputs (creating value for services, products or even the business itself) Specific (task) environment: persons, groups, organizations with whom an organization interacts and conducts business with outside the environment. Multiple stakeholders in specific (task) environment of typical business firm: