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Ryerson University
Global Management Studies
GMS 200
Tsogbadral Galaabaatar

Lecture 1 GMS Notes stOverview of the 21 century workplaceOrganizations must adapt to rapidly changing societyEconomy is global and driven by innovation and technologyHigh performing companies gain extraordinary results from people working for themInterdependent knowledge based What are the challenges of working in the new economy TalentPeople and their talents are the ultimate foundations of organizational performance They represent what managers call intellectual capitalIntellectual capital People are the ultimate foundations of organizational performance Intellectual capital is the collective brainpower or shared knowledge of a workplace that can be used to create valueFormula Intellectual Capital Competency CommitmentKnowledge WorkerSomeones whose mind is a critical asset to employersA knowledge worker adds to the intellectual capital of an organizationGlobalizationGlobalization National boundaries are the worldwide interdependence of resource flows product markets and business competition that characterize the new economy Japanese management consultant Kenichi Ohmae suggests that the national boundaries of world business have largely disappeared TechnologyTechnology Continuing transformation of the modern workplace througho the internet oworld wide web o Computers o Information technology Increasing demand for knowledge workers with the skills to fully utilize technology DiversityWorkforce diversity reflects differences with respect to gender age race ethnicity religion sexual orientation and ablebodiednessA diverse and multicultural workforce both challenges and offers opportunities to employeesMany call diversity a business imperative and view it as an asset How Diversity Bias Can Occur In the WorkplacePrejudice Display of negative irrational attitudes toward members of diverse populationsDiscrimination Actively denies minority members the full benefits of organizational membershipGlass Ceiling Effect Invisible barriers limiting career advancement of women and minoritiesDiversity FactsWomen is the USA make up 47 of workforce and hold 503 of managerial jobs Women in Canada make up 47 of the workforce but only 36 in managerial rolesCanadas workforce 36 Chinese 38 South Asian1 earned by men women earn 0705EthicsEthics Code of moral principles that set standards of what is good and right as opposed to what is bad and wrongSociety requires businesses to operate according to high moral standardsEmphasis today on restoring the strength of corporate governanceEthical Expectations for Modern BusinessesIntegrity and ethical leadership at all levelsSustainable DevelopmentNatural environment protectionConsumer protectionHuman RightsCareers st Career of 21 century wont be uniformly fulltime and limited to a single larger employerBritish scholar Charles Hardy uses Irish shamrock to discuss career patterns characteristics of the new economyThe Shamrock OrganizationIndependent Contractors Hired as needed and are not part of the organizations permanent workforceFull Time Core WorkersPart Time Work Temporary employment for less than 40 hours per week People must make that their skills are portable and always of current value in employment markets For Hardy this means being a Portfolio Worker What are organizations like in the new workplace Critical skills for success in the new workplaceMasteryYou need to be good at something You need to be able to contribute something of value to your employer
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