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GMS - Preet.docx

10 Pages
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Department
Global Management Studies
Course Code
GMS 200
Professor
Horatio Morgan

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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 you’re 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 that’s 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/employer
o Socio-cultural conditions Meaning and norms, customs, and social values on such matters
as ethics, human rights, gender roles, and lifestyles. Includes environmental trends in
education and related social institutions (education systems)
o Natural Environment Conditions - The recycling infrastructure; As public concerns for
global warming grow in strength, their impact on government and business grows as well.
We expect business to supply us with environmentally friendly products.
Sustainable business both meets the needs of customers and protects the well
being of our natural environment
Sustainable innovation creates new products and production methods that have
reduced environmental impact
Stakeholders and specific environment:
The specific environment (task environment) includes the people and groups with whom an
organization interacts. Members are called:
o Stakeholders the persons, groups, and institutions directly affected by an organization
For each stakeholder element there are many possible interests and considerations for managers:
o Top level decisions are often made with the assistance of stakeholder analysis focusing on
value creation.
The creation or value for and satisfying needs of stakeholders.
o Businesses create value for customers through product pricing and quality.
Competitive Advantage:
Allows an organization to deal with market and environmental forces better than its competitors
o Refers to something that an organization does extremely well. A core competency that sets
it apart from its competitors.

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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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