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Chapter 1

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Department
Global Management Studies
Course
GMS 200
Professor
Horatio Morgan
Semester
Fall

Description
Lecture 1 7/sept ← Introducing management • Global management: Apply management principles to do with business • Management involves; planning, organizing, leading, controlling ← Global business landscape: • Competition will be fiercer in 5 years time • Revisit your business model, regularly • Be nimble, be quick • Know your customers very well + anticipate their demands • Do what you do best ← How are organizations getting ahead in the global business landscape? • Flexibility & speed: IT = definitely important, but enough o What’s so special about technology? -> diffusion; nothing stops me from copying your technology • Talented workers = needed to drive innovation + support change ← Getting the most out of employees • Companies = now paying close attention to talent (human capital) management; o Recruiting + retaining o Developing employees in accordance with business strategies o Performance management o Recognizing, rewarding + engaging employees o Succession management to orderly replace retiring managers ← Challenges managers face today • Age difference = major challenge o How do managers integrate Gen. Y workers (18-24) in a workplace dominated at the top by baby boomers who are approaching retirement? • Cultural differences ← Spotlight on managers • Managers = expected to organize he workplace in a way that gets the most out of workers + other resources
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