Textbook Notes (362,810)
Canada (158,054)
GMS 200 (566)
Chapter 1

GMS200 Chapter 1 - Introduction To Global Management.docx

8 Pages
Unlock Document

Ryerson University
Global Management Studies
GMS 200
Shavin Malhotra

Introduction to Global Management  Teacher takes management principles and business principles from the textbook and puts it into a global perspective Our Focus  Global Business Environment, and how it impacts organizations o Within Organizations, focusing on things such as human behaviour, culture, planning and strategy Why Global Management? In a survey of CEOs from Forbes 100 Largest Multinational firms  80% believed all business majors should take a course in global management  70% believed a second language and knowledge of international affairs will benefit you Flat Panel TVs  Begin as glass panels manufactured in Japan, Taiwan or South Korea  Sent to Mexico along US borders (Macquiladora) for combining with other electrical components shipped from Asia and the US o Macquiladora is a FREE TRADE ZONE (excepted of import/tax taxes)  Finished TVs shipped to retail outlets International Communication Blunders  Dairy Association from USA started a campaign in Mexico – “Got Milk” which translated to o Are you lactating  Coors from USA started a campaign in Mexico with tagline “Turn it loose” which translated to “suffer from diarrhea”  Pepsi launched a campaign in China with tagline “Come alive with Pepsi Generation” which translated to “Pepsi brings your ancestors back from the grave” Textbook Notes Working Today  Talent o People and their talents – what they know, what they learn, and what they do with it are the ultimate foundations of organizational performance. o Intellectual Capital is the collective brainpower or shared knowledge of a workforce  Intellectual Capital = Competency x Commitment o A Knowledge Worker is someone whose mind is a critical asset to employers and adds to the intellectual capital of the organization  Diversity o Workforce Diversity means the composition of a workforce in terms of differences among people according to gender, age, race, ethnicity, religion, sexual orientation and able-bodiedness. o Diversity bias is common in the workforce, although more minorities are in the workforce every year o Prejudice is holding of negative, irrational opinions and attitudes regarding members of diverse populations, which sets the stage for diversity bias o Prejudice becomes Discrimination when visible minority members are unfairly treated and denied the full benefits of organizational membership o A subtle form of discrimination is the glass ceiling effect, in which there is an invisible barrier limiting career advancement for women and minorities o Many people agree that diversity is an asset that, if tapped, creates opportunities for performance gains  Globalization o Globalization is the worldwide interdependence of resource flows, product markets, and business competition that characterizes our new economy o People are increasingly interconnected through news, in travel and lifestyles, in labour markets and employment patterns, and in financial and business dealings. o Offers many opportunities, but also challenges such as outsourcing and much more competition for businesses, etc.  Technology o Technology-driven world increasingly dominated by bar codes, e-mail, automatic tellers, instant messaging, on-line media and e-commerce.  Ethics o Ethics set a code of moral principles that sets standards of what is “good” and “right” as opposed to what is “bad” and “wrong” in the conduct of a person or group o Ethics are now obligatory to any coporation  Careers o There are 3 career patterns in our new economy  Core Workers – full time employees pursue traditional career paths. Success and maintenance of critical skills, they can advance within the organization and may remain employed for a long time  Contract Workers – perform specific tasks as needed by the organization and are compensated on a fee-for-services basis rather than by a continuing wage or salary. Sell their skill/service and contract with many employers over time  Part-Time Workers – hired only as needed and for as long as needed. Employers expand and reduce their part-time staffs as business needs rise and fall o Portfolio worker is someone who always has the skills needed to readily shift jobs and even careers, allowing for mobility What is an organization?  An organization is a collection of people working together to achieve a common purpose o All organizations share a broad purpose – providing goods or services of value to customers and clients  Organizations are open systems that interact with their environments in the continual process of obtaining resource inputs then transforming them into outputs in the form of finished goods and services for their customers  A good measure of organization performance is productivity, which measures the quantity and quality of outputs relative to the cost of inputs. Productivity can be measured at any level in an organization (individual, group, etc)  Performance Effectiveness is an output measure of task or goal accomplishment. For example meeting your daily production target in terms of quantity and quality of lines of code written (for a software programmer)  Performance Efficiency is an input measure of the resrource costs associated with goal accomplishment. Using the previous example, efficient software production is accomplished at a minimum cost in materials and labour. o Basically, Effective = Goals Achieved, Efficient = No wasted resources Changing Nature Of Organizations  Renewed Belief In Human Capital – Demands of the new economy place premiums on knowledge, experience and commitment of all members  Demise of “Command and Control” – Traditional structures with “Do as I say” bosses are proving to be doomed for failure in today’s competitive environments  Emphasis on Teamwork  Pre-Eminence of Technology – New opportunities appear with each development in computer and information technology; constant change in how organizations operate and people work  Embrace of Networking – networked for intense, real-time communication and coordination  New Workforce Expectations – Less tolerance for hierarchy, more informality, more attention to performance merit than to status and seniority  Concern for work-life balance – As society increases in complexity, workers are forcing organizations to pay more attention to balance of work and personal affairs  Focus on speed- Work is expected to be done both well and in a timely manner Dynamic Forces and the General Environment  The general environment of organizations consists of all external conditions that set the context for managerial decision-making. They are classified as economic, legal-political, technological, socio-cultural and natural environment conditions o Economic Conditions – conditions that influence customer spending, resource supplies, and investment capital. Things like overall health of financial markets, inflation, income levels, GDP, unemployment, and job outlook are always important o Legal-Political Conditions – represented by existing and proposed laws and regulations, government policies, and the philosophy and objective of political parties.  Issues such as the case in Tibet where civil unrest was posted on YouTube, causing the government to block Google and its related websites to its citizens. This is the issue of internet censorship, the denial and blockage of public access to information posted on the Internet. o Technological Conditions – must be aware of the constant change in technology o Socio-Cultural Conditions – Of a society or region can take meaning as norms, customs, and social values on such matters as ethics, human rights, gender roles and lifestyles. o Natural Environment Conditions – An example of this is the “green” movement. Global concerns for global warning, carbon emissions, and protection of the natural environment grow in strength, creating growth in industries like renewable power.  Sustainable Business is when firms operate in ways that both meet the needs of customers and protect or advance the well-being of our natural environment.  Sustainable Innovation is when businesses strive to create new products and production methods that have lower environmental impacts than the available alternative Stakeholders and the Specific Environment  The specific environment, also called the task environment, consists of the organizations, groups and persons with whom an organization interacts and conducts business.  Stakeholders are persons, groups, and institutions affected in one way
More Less

Related notes for GMS 200

Log In


Don't have an account?

Join OneClass

Access over 10 million pages of study
documents for 1.3 million courses.

Sign up

Join to view


By registering, I agree to the Terms and Privacy Policies
Already have an account?
Just a few more details

So we can recommend you notes for your school.

Reset Password

Please enter below the email address you registered with and we will send you a link to reset your password.

Add your courses

Get notes from the top students in your class.