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Chapter 1

GMS200 - Chapter 1 Notes

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Global Management Studies
GMS 200
Jian Guan

GMS200 Chapter 1 NotesStudy Questions1What are the challenges of working in the new economy2What are organizations like in the new workplace3Who are managers and what do they do4What is the management process5How do you learn the essential managerial skills and competenciesstOverview 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 basedStudy Question 1s answerIntellectual capitaloPeople are the ultimate foundations of organization performanceoIntellectual capital is the collective brainpower or shared knowledge of a workforce that can be used to create valueoA knowledge worker adds to the intellectual capital of an organizationGlobalizationoNational boundaries of world business have largely disappearedoGlobalization is the worldwide interdependence of resource flows product markets and business competition that characterize the new economy
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