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GMS 200 (566)


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Ryerson University
Global Management Studies
GMS 200
Shavin Malhotra

GMS200 Chapter 1: Introducing Management Intellectual capital – collective brainpower or shared knowledge of a workforce Knowledge worker – someone whose mind is a critical asset to employers Diversity Workforce diversity – describes differences among workers in gender, race, age, ethnicity, religion, sexual orientation and able-bodiedness Prejudice – display of negative, irrational attitudes toward members of diverse populations Discrimination – actively denies minority members the full benefits of organizational membership Glass ceiling effect – an invisible barrier limiting career advancement of women and minorities Globalization – worldwide interdependence of resource flows, product markets and business competition Ethics Challenges of working in a new economy – diversity, globalization, competitive advantage and environmental uncertainty Ethics – code of moral principles that set standards of conduct of what is good and right Ethical expectations for modern business  Integrity and ethical leadership at all levels  Sustainable development  Natural environment protection  Consumer protection  Human rights Organizations – collection of people working together to achieve a common purpose Open system - transform resource input into product outputs (goods/services) Organizational Performance Productivity – quantity and quality of work performance with resource utilization considered Performance effectiveness - an output measure of task or goal accomplishment Performance efficiency - an input measure of resource cost associated with goal accomplishment General Environment – composed of economic, legal-political, technological, socio-cultural and natural environment conditions Economic Conditions – resource supplies, finical market, investment Legal Political Conditions – Internet censorship Technology Conditions – being tech savy/ social media Social Culture Conditions – social rights and equal rights Environment Conditions – sustainable business (both meets customer need and natural environment - sustainable innovation – new products that reduce environmental impact Specific environment (task environment) – includes the people and groups with whom an organization interacts Stakeholders- persons, groups, and institutions directly affect by an organization Value creation – creation of value for and satisfying needs of stakeholders GMS200 Chapter 1: Introducing Management Competitive Advantage – allows an organization to deal with market and environmental forces better than its competitors Strategic positioning – when an organization does difference things or same things in difference ways from competitors. (Through cost, quality, delivery or
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