Textbook Notes (369,141)
Canada (162,412)
GMS 200 (566)
Sui Sui (46)
Chapter 1

Chapter 1.docx

3 Pages
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Department
Global Management Studies
Course Code
GMS 200
Professor
Sui Sui

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Introducing Management Overview of the new workplace: Work in the new economy is increasingly knowledge based, and people, with their capacity to bring valuable intellectual capital to the workplace, are the ultimate foundation of organizational performance.  Urbanization/specialization/management/improvements.  Innovations, challenges (IKEA expanding to KSA), expansion, outperforming.  International companies like IKEA and McDonalds Workplace changes that provide a context for studying management:  Google: amazing workplace  Apple: organized system  Zappos : the happiness culture The happiness culture: Zappos  Zappos.com is an online shoe and apparel shop. Tony Hsieh is its CEO.  Zappos places great emphasis on company culture and core values  Paying new hires $4000 to leave  Make customer happier, employees happier, and ultimately, investors happier.  CHAPTER 1 STUDY QUESTIONS 1. What are the challenges of working in the new economy? Talent  Intellectual capital  Knowledge worker  Someone whose mind is a critical asset to the employers and who adds to the intellectual capital of the organization. Diversity  Gender, age, race, ethnicity, religion, sexual orientation, and able-bodiedness.  Workplace diversity is among the most important predictors of a business’ sales revenue, customer members and profitability.  Diversity will improve the performance of a company. Globalization  The worldwide interdependence of resource flows, product markets, and business competition.  Globalization and outsourcing of Apple Inc. Technology  Increasing demand for knowledge workers with the skills to fully use technology.  Wal-Mart: global leader of information technology innovation.  for example: 1977 companywide computer network and a system for ordering merchandise from suppliers. 1983: bar codes 2005: radio-frequency identification (RFID) tags. Ethical expectations for modern businesses  Wal-Mart's Mexico Bribery Scandal Careers  Core workers, contract workers, and part-time workers. Figure 1.1 Organizations as open systems An open system interacts with the external environment in a continual process of transforming resources inputs into product outputs in the form of finished goods and/or services. The environment supplies The organization creates The environment consumes Resources inputs Work activities turn Product outputs Finished goods and/or People resources into outputs Money Transformation services
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