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Chapter 1,2,3,5,6,7,11,13,16

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Global Management Studies
GMS 200
Jian Guan

Chapter 1 Introducing Management GMS Notes What are the challenges of working in the new economy Talent People and their talentswhat they know what they learn and what they do with itare the ultimate foundations of organizational performance Intellectual capital is the collective brainpower or shared knowledge of a workforce than can be used to create value Intellectual CapitalCompetency x Commitment A knowledge worker is someone whose mind is a critical asset to employers and adds to the intellectual capital of the organization Diversity Workforce diversity is the composition of a workforce in terms of differences among people whether it be their gender age race ethnicity religion sexual orientation or ablebodiedness Prejudice or the holding of negative opinions and attitudes to a diversified population sets the stage for diversity bias A subtle form of discrimination is called the glass ceiling effectan invisible barrier or ceiling that prevents minorities from rising above a certain level of organizational responsibility Globalization Globalization is the worldwide interdependence of resource flows product markets and business competition that characterizes our new economy It is a process in which improvements of technology combine with the deregulation of markets to bring out flows of people goods services and money Technology The forces of globalization ride on the foundation of the Internet and the growth of communication technologies Bar codes automatic tellers email blogs text messaging online media and social networks are some of the technologies driving the world Ethics Ethics is a code of moral principles that sets standards of what is good and right as opposed to bad and wrong Careers The Shamrock Organization is an analogy to discuss career patterns characteristic of the new economy The three leaves of the shamrock structure include full time core workers independent contractors and part time temporaries A portfolio worker is someone who always has the skills needed to readily shift jobs or even careersWhat are organizations like in the new workplace An organization is a collection of people working together to achieve a common purpose All organizations share a broad purposeproviding goods or services of value to customers and clients Organizations are open systems meaning it transforms resource inputs from the environment into product outputs Productivity measures the quantity and quality of outputs relative to the cost of inputs Performance effectiveness is an output measure of task or goal accomplishment eg meeting a daily target Performance efficiency in an input measure of the resource costs associated with goal accomplishment1What is the makeup of the external environment of organizations and how is an organization linked to its environment The general environment of organizations consists of all external conditions that set the context for managerial decisionmaking Forces that keep an organization in existence and help make important decisions include economic growth unemployment rate legalpolitical laws political trends technological Internet access IT systems sociocultural population demographics education system and natural environment conditions recycling infrastructure green values Managers must be concerned with economic conditions in the general environment particularly those that influence customer spending resource supplies and investment capitalThey must also understand the legalpolitical conditions as represented by existing and proposed laws and regulations government policies and the philosophy and objectives of political parties Internet censorship is the deliberate blockage and denial of public access to information posted on the Internet Also not only should managers stay abreast of the latest technologies for their work applications they must also be aware of their work implications The sociocultural conditions of a society or region take meaning as norms customs and social values on such matters such as ethics human rights gender roles and lifestyles They also include environmental trends in education and related social institutions as well as demographic patterns Lastly when it comes to natural environment conditions there are public concerns for global warming carbon emissions and protection of the natural environment Sustainable businesses are firms that operate in ways that both meet the needs of customers and protect or advance the wellbeing of our natural environment Sustainable innovation creates new products and production methods that have reduced environmental impactThe specific environment consists of the actual organizations groups and people with whom an organization interacts and conducts business Members of the specific environment are called stakeholdersValue creation is an analysis of the extent to which the organization is creating value for and satisfying the needs of its multiple stakeholdersA competitive advantage refers to something that an organization does extremely well a core competency that clearly sets it apart from other competitors thus giving it an advantage over others in the marketplace Competitive advantage is linked with strategic positioninghelping ones firm or organization do different things or the same things in different ways from ones major competitors As mangers pursue competitive advantage decision making is often complicated by uncertainty Environmental uncertainty means that there is a lack of complete information regarding what exists and what development occursOrganizational effectiveness is sustainable high performance in using resources to accomplish a mission andor objective The system resource approach looks at the input side and defines organizational effectiveness in terms of success in acquiring needed resources from the environment The internal process approach looks at the transformation process and defines organizational effectiveness The goal approach looks at the output side and defines organizational effectiveness in terms of how to measure achievement of key operating objectives The strategic constituencies approach looks at the external environment and defines organizational effectiveness in terms of the organizations impact on stakeholdersWho are managers and what do they do A manager is a person who supports activates supervises and is responsible for the work of others They are responsible for not just their own work but for the overall performance accomplishments of a team work group department or sometimes the entire organization2
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