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GMS 200 (566)
Jian Guan (27)
Chapter 1

Chapters 1, 4, 5

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Global Management Studies
GMS 200
Jian Guan

GMS200 MIDTERM REVIEW (SUMMARIZED) CHAPTER ONE: WORKING CHALLENGES FOR THE NEW ECONOMY Intellectual Capital: Collective brainpower or share knowledge of a workforce that can be used to create value Globalization: The worldwide interdependence of resource flows, product markets, and business competition that characterize the new economy Technology: A continuing transformation of a modern workplace through (the internet, www, computer, information technology) Diversity: within a workforce which reflects that differences with respects to gender, age, ethnicity, religion, sexual orientation. A diverse multicultural workforce both challenges and offers opportunities to employers Ethics: code of moral principles, society requires business to operate with high moral standards Careers: 21 century, not limited only to full-time positions, opened up to (part-time and seasonal), Skills must be convenient in different work industries and must always be up to date ORGANIZATIONS Organization: a collection of people who work together in order to achieve a common purpose - provides useful goods andor services that return value to society and satisfy customer needs - interaction with environment - transform resource inputs into outputs of goods and services - environmental feedback tells organization how well it is meeting the needs of customers and society Organizational Performance: value is created when an organizations operations add value to the original cost of resource inputs Value Creation: results to business earning a profit, and a non-profit organization adding wealth to society Productivity: overall measure of quantity and quality of work performance with resource utilization taken into account Performance Effectiveness: an output measure of task or goal accomplishment (RESULTS) www.notesolution.comPerformance Efficiency: an input measure of the resource costs associated with goal accomplishment MANAGERS Managers: A person in an organization who supports and is responsible for the world of others - Have the ability to create a positive or negative working environment High Performing Managers: Build working relationships with others, and form a work environment that is performance driven and worker satisfaction Employees: the individual who managers assist are the ones whose tasks represent the real work of the organization Toxic Workplaces: treat employees as costs rather than humans High Performing Organizations: treat employees as valuable strategic assets Common Complaints about Managers: do not maintain speed in a changing environment, outdated in terms of language attitude and knowledge ***FIVE TYPES OF MANAGERS Line Managers: responsible for work activities that directly affect organizations outputs Staff Managers: use technical expertise to advise and support the efforts of line workers Functional Managers: responsible for a single area of activity General Managers: responsible for more complex units that include many functional areas Administrators: work in public and non-profit organizations LEVELS OF MANAGEMENT Top Managers: responsible for performance of an organization as a whole or for one of its larger parts (Example: Carmen) Middle Managers: in charge of relatively large departments or divisions (Example: Vito Dairy Dept) Project Managers: coordinate complex projects with task deadlines Team Leaders or Supervisors: in charge of a small work group or non-managerial workers (Example: Andrew) RESPONSIBILITY OF TEAM LEADERS Plan meetings and work schedules www.notesolution.com
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