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GMS 200 (566)
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Chapter 1

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Ryerson University
Global Management Studies
GMS 200
Jian Guan

Chapter 1 New economy Intellectual capital shared brainpower of a work force National boundaries have disappearedGlobalization worldwide interdependence of everything Workforce Diversity Composition of a workforce in the difference among members Valuing diversityeveryone performs to full potential Prejudice Bad attitudes towards a demographic Glass Ceiling effect Invisible barrier limiting career advancements Ethics moral principals Organization People with common purposes providing goods and services Open systems interact with their environment in continuation process of turning resource inputs into product outputs Value Chain Operations add value to original resource inputs then1 Business earns profit 2 Organizations add wealth to society Performance effectiveness output measure of task or goal accomplishment Performance efficiency measure resource costs with goal accomplishment People should be the most important asset Top
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