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Chapter 1

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Global Management Studies
GMS 200
Horatio Morgan

Introducing ManagementWorking TodayOrganizations are expected to excel on performance criteria that include concerns for ethics and social responsibilities innovativeness as well as profitability and investment value When they fail customers employees and investors are quick to let them know For individuals there is no guarantee of long term employment In todays economy careers are being redefined in terms of flexibility free agency skill portfolios and entrepreneurshipTalentPeople and what they know what they learn and what they do with their knowledge are the ultimate foundation of organizational performance This is known as intellectual capitalIntellectual Capital The collective brainpower or shared knowledge of the workforce that can be used to create valueIntellectual Capital Equation Intellectual CapitalCompetency x CommitmentThe ultimate challenge for any organization is to combine the talents of many people to achieve unique and significant results The intellectual capital equation can be used as a tool for such challenges If you want a successful career you must be a source of intellectual capital for employers You must be willing to reach for the heights of personal competency and accomplishment This means being a selfstarter willing to learn from experience In other words it means being a knowledge workerKnowledge Worker Someone whose mind is a critical asset to employers and adds to the intellectual capital of an organizationDiversityWorkforce Diversity Differences among workers in gender race age religion and sexual orientationMany people claim diversity is a business imperative and an asset that can create opportunities for performance gains in regards to todays multicultural workforceEven though our society is diverse diversity issues in employment are still present For example resumes with white first names like Brett received fifty percent more responses from employers than those with black names like Kareem The fact that these resumes were created with the same qualifications suggests diversity bias is still present whether it be unconscious or deliberate There are several diversity biases present in todays economyPrejudice The display of negative irrational attitude towards members of diverse populationsDiscrimination Denies minority members the full benefits of organizational membership as well as treating them unfairlyA subtle form of discrimination is known as the glass ceiling effectThe Glass Ceiling Effect An invisible barrier that limits the career development and advancement of women and minorities
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