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Chapter 1

Introduction Management Chapter 1.docx

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Department
Global Management Studies
Course
GMS 200
Professor
Horatio Morgan
Semester
Winter

Description
Introduction Management  Organization are fast changing, as is the nature of work itself.  The economy is global, driven by innovation and technology. Working today  Expectation for organizations and their members are very high. Organizations are expected to continuously excel on performance criteria that include concerns for ethics and social responsibilities, innovativeness, and employee development, as well as more traditional measures of profitability and investment value.  When they fail, customers, investors, and employees are quick to let them know.  For individual, there are no guarantees of long term employment.  Jobs are increasingly earned and re-earned every day through one’s performance accomplishments.  Career are being redefined in terms of flexibility, free agency, skill portfolios, and entrepreneurship.  Career success takes lots of initiative and discipline, as well as continuous learning. Talent  People and their talents which can be what they know, what they learn, and what they do with it are the ultimate foundations of organizational performance.  They represent what managers call intellectual capital, the collective brainpower or shared knowledge of a workforce that can be used to create value.  The ultimate challenge of any organization is to combine the talents of many people, to achieve unique and significant results.  Intellectual capital = Competency x Commitment  In order to be a successful career, you must be a source of intellectual capital for employers and you must be someone willing to reach for heights of personal competency and accomplishment.  This mean being a self-starter willing to continuously learn from experience, and also becoming a valued knowledge worker someone whose mind is a critical asset to employers and adds to the intellectual capital of the organization. Diversity  Workforce diversity describes the composition of a workforce in terms of differences among people according to gender, age, race, ethnicity, religion, and able- bodiedness.  Prejudice, or the holding of negative, irrational opinions and attitudes regarding members of diverse populations, sets the stage for diversity bias.  It became active discrimination when visible minority members are unfairly treated and denied the full benefits of organizational membership.  A subtle form of discrimination is called the glass ceiling effect, an invisible barrier or ceiling that prevent women and members of visible minorities from rising above a certain level of organizational responsibility. Globalization  More and more products are designed in one country, whereas their components are sourced, and final assembly is contracted in others, and all are for sale in still others.  These are all part of the force of globalization, the worldwide interdependence of resource flows, product markets, and business competition that characterizes our new economy  Globalization is not an abstract concept, it is increasingly a part of the fabric of our everyday lives, and with particular consequences for work and careers.  In our global world, countries and peoples are increasingly interconnected through the news almost everywhere.  Government leader now worry about the competitiveness of nations, just as corporate leaders worry about business competitiveness. Employees in a growing number of occupations must worry about being replaced by workers in other countries who are willing and able to perform their jobs through outsourcing and at lower cost to employers. Technology  The force of globalization ride on the foundations of the internet and a continuing explosion in communication technologies. For better or worse, we live and work in a technology driven world.  The new technology have also added great flexibility to work arrangement, allowing people to telecommute, work from home, and maintain mobile offices while working in nontraditional way and free from the constrains of the normal 9 to 5 schedules. Ethics  There is no excuse for senior executives in any organization to act illegally and to tolerate management systems that enrich the few while damaging the many.  The issue is ethics a code of moral principles that sets standards of what is good and right as opposed to bad and wrong in the conduct of a person or group. Careers  Career challenge isn’t just finding your first job; it’s also about successful career planning.  We should be prepare to prosper in any of the shamrock’s 3 leaves: independent contractors, full time core workers, part time temporaries. It is likely that we will be changing jobs and employers over time so our skill must be portable and always of value. These skill must be carefully maintained and upgraded all the time.  This mean being a portfolio worker, someone who always has the skill needed to readily shift jobs and even careers. Organizations in the new workplace  In order to make good employment choices and perform well in a career, you need a fundamental understanding of the nature or organizations. What is an organization?  An organization is a collection of people working together to achieve a common purpose. It is a unique social phenomenon that enables its members to perform tasks far beyond the reach of individual accomplishment. This applies to all organization.  All organizations share a broad purpose, providing goods and services of value to customers and clients. Organizations as system:  Organizations are open systems that interact with their environments in the continual process of obtaining resources inputs and then transforming them into outputs in the form of finished goods and services for their customers  The external environment Is both the supplier of resources and the source of customers.  Feedback from the environment indicates how well an organization is doing. Organizational performance:  If an organization is to perform well, its resources must be well utilized and its customers must be well served  If operation add value to the original cost of resources inputs, then 1) a business organization can earn a profit that is sell a product for more than the cost of making it or 2) a nonprofit organization can add wealth to society that is that is provide a public service that is worth more than its cost.  A common way to describe how well an organization is performing overall is productivity. It measures the quantity and quality of outputs relative to the cost of inputs. It can be measure at the individual and group as well as organizational levels.  Productivity involves 2 common performance measures: effectiveness and efficiency  Performance effectiveness is an output measure of task or goal accomplishment.  Performance efficiency is an input measures of the resource costs associated with goal accomplished. Changing nature of organizations:  Change is a continuing theme in society, and organizations are certainly undergoing dramatic changes today.  Renewed belief in human capital, demise of command and control, emphasis on teamwork, pre-eminence of technology, embrace of networking, new workforce expectations, concern for work life balance and focus on speed are all relevant to studying management. Organizational environment Dynamic forces and the general environment:  The general environment of organizations consists of all external conditions that set the context for managerial decision making.  It is a broad envelope of dynamic forces within which the organization exists and important decision must be made.  Economic condition: managers must be concern about it in the general environment.  Legal political conditions: managers must also stay abreast of developments in legal political condition as represented by existing and proposed laws and regulation, government policies, and the philosophy and objectives of political parties.  Technological conditions: not only managers stay abreast of the latest technologies for their work applications, they must also be aware of their work implications.  Socio cultural conditions: it take meaning as norms, customs, and social values on such matters as ethics, human rights, gender roles, and lifestyle.  Natural environment condition: green is certainly an issue in our communities.  Sustainable business both meets the need of customer and protects the well-being of our
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