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GMS__

9 Pages
96 Views

Department
Global Management Studies
Course Code
GMS 200
Professor
Shavin Malhotra

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Chapter 1- The Dynamic New Workplace
21st Century, brings about change in that companies value people.
Companies provide valuable rewards and respect for work-life balance.
Working in the New Economy
Networked economy, linked together with IT
New economy performance driven
Companies excel in concerns for ethics and social responsibilities, innovativeness,
and employee development, but also profitability and investment value
Intellectual Capital
Intellectual Capital: is he collective brainpower or shared knowledge of a workforce
Knowledge worker: is someone whose mind is a critical asset to employers
Globalization
Globalization: is the worldwide interdependence of resource flows, product markets, and
business competition
Technology
Tech used for everyday operations, but it also helps with communication (eg, dont
need to be face to face)
Diversity
Workforce Diversity: describes differences in gender, race, age, ethnicity, able-bodiness,
religious affiliation, and sexual orientation among works
Prejudice: is the display of negative, irrational attitudes toward women or minorities
Discrimination: Actively denies women and minorities the full benefits of organizational
membership
Glass Ceiling Effect: an invisible barrier limit career advancement of women and
minorities
Ethics
www.notesolution.com
Ethics: Set moral standards of what is good and right in ones behaviour
Corporate governance: is oversight of a company’s management by a board of directors
Organizations in the New Workplace
What is an Organization?
Organization: is a collection of people working together in a division of labour to achieve a
common purpose
Organizations as Systems
Open systems: organizations interact with their environment to transform resources into
product outputs
Organizational Performance
Value Creation: Add value to the original cost of resource inputs
1.A business organization can earn a profit-that is, sell a product for more than
the cost of making it (eg. Fast-food restaurant meals)
Product Outputs
Finished goods and/or
services
Transformation Process
Work activities turn
resources into outputs
Resource inputs
People
Money
Material
Technology
The environment
www.notesolution.com
2.A non-profi organization can add wealth to society, provide a public service
that is worth more than its cost
Value created when an organizations resources are utilized in the right way at the
right time, and at minimum cost to create high-quality goods and services
Productivity: Is the quantity and quality of work performance, with resource
utilization considered.
Performance effectiveness: is an output measure of task or goal accomplishment
Performance efficient: is an input measure of resource costs associated with goal
accomplishment
Changing Nature of Organizations
Belief in human capital

 !
Effective but not efficient
No wasted resources
Goals not achieved
Neither effective nor efficient
Goals not achieved
Resources wasted
Effective and efficient
Goals achieved
No resources wasted
High productivity
Effective but not efficient
Goals achieved
Resources Wasted
www.notesolution.com

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Description
Chapter 1- The Dynamic New Workplace st 21 Century, brings about change in that companies value people. Companies provide valuable rewards and respect for work-life balance. Working in the New Economy Networked economy, linked together with IT New economy performance driven Companies excel in concerns for ethics and social responsibilities, innovativeness, and employee development, but also profitability and investment value Intellectual Capital Intellectual Capital: is he collective brainpower or shared knowledge of a workforce Knowledge worker: is someone whose mind is a critical asset to employers Globalization Globalization: is the worldwide interdependence of resource flows, product markets, and business competition Technology Tech used for everyday operations, but it also helps with communication (eg, dont need to be face to face) Diversity Workforce Diversity: describes differences in gender, race, age, ethnicity, able-bodiness, religious affiliation, and sexual orientation among works Prejudice: is the display of negative, irrational attitudes toward women or minorities Discrimination: Actively denies women and minorities the full benefits of organizational membership Glass Ceiling Effect: an invisible barrier limit career advancement of women and minorities Ethics www.notesolution.com
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