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Chapter 1

GMS200: chapter 1 notes.docx

8 Pages

Global Management Studies
Course Code
GMS 200
Sui Sui

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Chapter 1 study questions September 5, 2012 Overview of the new workplace:  Companies with a future offer inspirational leadership; reward and respect people and provide supportive work environments. - Manager gives what employees need to perform better.  Good technology + great people + sounds strategy + execution speed (product delivery. Ex. Apple is always ahead of its competitors) = market dominance (Ex. Apple) Study Question#1: what are the challenges of working in the new economy?  Talent - People and their talents are the ultimate foundations of organizational performance. - Intellectual capital (ex. Engineers, doctors.) - Knowledge wonder  care about employees personal problems.  Diversity - Gender, age, race, ethnicity, religion, sexual orientation, able bodiedness. - Prejudice, discrimination, glass ceiling effect.  Globalization - The worldwide interdependence of resource flows, product markets and business competition. - Help sell products - Companies depending on other countries for supplies.  Technology - Increasing demand for knowledge workers with the skills to fully use technology. - Wal-Mart scheduling system.  Ethics - What is right or wrong - Ethical expectations for modern businesses. - Wal-Mart under bribery investigation  April 2012 - Trust customers and shareholders  Linking to European companies.  Careers - Core workers, contract workers, and part time workers. - Working at Google - Suitable for all organizations Chapter 1 study questions September 5, 2012 - Open system, everyone can share their opinion. Study question #2: what are the organizations like in the new workplace?  Critical skills for success in the new workplace: - Mastery - Networking assets - Entrepreneurship taking risks, looking at opportunities. - Love of technology - Marketing know how to sell your products. - Passion for renewal  new products, think before customers/ competitors  Organization: a collection of people working together to achieve a common purpose. *mission statement.  Organization as open systems: Environment supplies Organization creates Environment consumes  Resource inputs: - People - Product outputs - Money - Materials - Finished goods and - Technology Work activities services - Information turn resources into outputs *Transformation process Customer/client feedback Chapter 1 study questions September 5, 2012  Organization performance: - Business earn a profit - Non-profit organizational add wealth to society.  This is how businesses are evaluated.  Performance effectiveness  Output  services provided?  Performance efficiency  Input  cost of input? Higher than the output?  Productivity  Figure 1.2 productivity and the dimensions of organizational performance Effective but not efficient Effective and efficient - Goals achieved - Goals achieved High - Resources wasted - No wasted resources - High productivity Goal attainment Neither effective nor efficient Efficient but not effective - Goals not achieved - No wasted resources Low - Resources wasted - Goals not achieved Poor Good  Workplace changes that provide a context for studying management. - Google: analyzing work place - Apple: Organized system - Zappos: happiness culture Chapter 1 study questions September 5, 2012  Figure 1.3 Starbucks general environment. Economic Environment: - Economic growth - Unemployment rate - Disposable income Legal-political environment: Socio-cultural environment: - Laws and regulations Starbucks - Population demographics - Business forms - Education system - Political trends - Health/nutrition values
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