MGMT100 Chapter Notes - Chapter 1: Intellectual Capital, Knowledge Worker, Sustainable Development
MGMT100: MANAGING: PEOPLE, SYSTEMS AND CULTURE, WEEK 1
Learning Outcome:
Explain the eaig of the ters aageet, systes, ulture ad 'orgaisatio' ad 'struture (LO1)
Essential Questions:
What is the difference between management and leadership?
Are the two terms interchangeable?
Notes:
Working i today’s ecooy; factors:
• Intellectual capital – collective and shared knowledge of a workforce that can be used to create
value
• Knowledge worker – a person whose mind is a critical resource for employers, adding intellectual
capital to the organisation
• Globalisation – the worldwide interdependence of resource flows, product market and business
competition
o Countries and people are widely interconnected through media, travel, business dealings
etc.
• Technology
o We are currently living in a technology-driven environment, offering users convenience
instantly
o Computers allow organisations to speed up transactions and improve decision-making
• Diversity – the compositions of a workforce in terms of differences among the members
o Differences include:
➢ Gender, age, race, ethnicity, religion, sexual orientation, able-bodiedness
• Ethics – moral principles that govern a person's behaviour or the conducting of an activity
o Society is becoming strict in its expectation that social institutions conduct their affairs
according to high moral standards
o Expectations now include:
➢ Sustainable development, environmental protection
➢ Product safety and fair practices
➢ Protection of human rights
➢ In the workplace: equal employment opportunities, equity of compensation, privacy,
job security, health and safety, and freedom from sexual harassment
Organisations:
• Organisation – a collection of people working together to achieve a common purpose
o Enables its member to perform tasks far beyond the reach of individual accomplishment
o Can be seen as systems with subsystems; composed of interconnected parts that function
together
• Open systems – transform resource inputs from the environment into product or service outputs
o Resources and customers are two critical elements in the open-systems view of
organisations
➢ Resources need to be put to good use
➢ Customers must be served well
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