GMS 200 Chapter Notes - Chapter 3: Market Power, Organizational Culture, Ethnocentrism

• School: Ryerson University
• Department: Global Management Studies
• Course: GMS 200
• Professor: Shavin Malhotra

Document Summary

Lecture notes: culture is a set of assumptions and values that are shared by a group of people. Culture is a firm"s personality, which helps distinguish itself from others. They are strong, unconscious emotions with a minus and a plus pole, like: evil-good, dirty-clean, etc: organizational culture is the system of shared beliefs and values that develops within an organization and guides the behaviour of its members. Impact of culture: 82% of executives said corporate culture has an impact on financial performance. 82% of executives said it has tangible impact on their organization"s ability to recruit, manage and retain the best people. Founders who act as role models and hire and keep similar employees: strong cultures: pros and cons, drives employee behaviour due to clear vision leading to high performance. Chapter notes: global management involves managing operation in more than one country. Child labour is the full-time employment of children for work otherwise done by adults.