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Chapter 1-5

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Department
Global Management Studies
Course
GMS 200
Professor
Tsogbadral Galaabaatar
Semester
Fall

Description
CHAPTER 1: The Dynamic New Workplace Intellectual Capital: is the collective brainpower or shared knowledge of a workforce. Knowledge Worker: is someone whose mind is a critical asset to employers. Globalization: is the worldwide interdependence of resource flows, product markets, and business competition. Workforce Diversity: describes differences in gender, race, age , ethnicity among workers. Prejudice: is the display of negative, irrational attitudes toward women or minorities. Glass ceiling effect: is an invisible barrier limiting career advancement of women and minorities. Ethics: set moral standards of what is "good" and "right" in one's behaviour. Corporate Governance: is oversight of a company's management by a board of directors. Open System: organizations interact with their environment to transform resources into product output. people Work money activities Finished RESOURCEINPUmaterials TRN PROCESSIO turn OUTPUTS goods and or technology resources services. into outputs. Information Performance Effectiveness: is an output measure of task or goal accomplishment. Performance Efficiency: is an input measure of resource costs associated with goal accomplishment. TOP MANAGERS:guide the performance of the MIDDLE PROJECT organization as a whole MANAGERS:oversee the MANAGERS:coordinate work of large complex projects with or of one of its major departments or divisions. task deadlines. parts. LINE MANAGERS: STAFF MANAGERS: use FUNCTIONAL contribute to the MANAGERS: responsible production of the special technical for one area of activity expertise to advise and organization's basic suport line managers. such as finance or goods or services. marketing or sales. GENERAL MANAGERS: ADMINISTRATOR: is a responsible for complex manager in a public or multi-functional units. non-profit organization. Accountability: is the requirement to show performance results to one's immediate supervisor. Quality of work life: is the overall quality of human experiences in the workplace. PLANNING:setting objectivesand decidinghow to achievethem CONTROLLING:Measu ORGANIZING: ringperformanceand THE arrangingtasks, takingaction to MANAGEMENT people, and other enresults.red PROCESS accomplishwork LEADING:inspiring peopleto work hard to achievehigh performance. How a manager interacts with other people INTERPERSONAL figurehead ROLES leader liaison INFORMATIONAL Monitoranager exchanges and processes information Disseminator ROLES Spokesperson How a manager uses information in decision making DECISIONAL Entrepreneur Disturbance handler ROLES Negotiatorllocator Technical Skill: is the ability to use expertise to perform a task with proficiency. Human Skill: ability to work well in co-operation with other people. Conceptual Skill: is the ability to think analytically and solve complex problems. Managerial Competency: is a skill-based capability for high performance in a management job. Total Quality Management: is managing with commitment to continuous improvement, product quality, and customer satisfaction. CHAPTER 7: Information & Decision Making Certain Environment: alternative courses of action and their outcomes are known to decision makers. Risk Environment: Decision maker views alternatives and their outcomes in terms of probabilities. Uncertain Environment: Decision maker doesn't know all alternatives and outcomes, even as probabilities. Information Systems: use IT to collect, organize and distribute data for use in decision making. Groupware: is software that facilitates group collaboration and problem solving. Expert Systems: allow computers to mimic the thinking of human experts for applied problem solving. How do managers use information to make decisions? Managerial advantages of IT utilization: Planning Advantages Organizing Advantages Leading Advantages Control Advantages Intranets & Corporate portals: use the web for communication and data sharing within an organization. Electronic data Interchange: uses controlled access to enterprise portals to enable firms to electronically transact business with one another. Programmed Decision: applies a solution from past experience to a routine problem. Structured Problems: are straightforward and clear information needs. Non-programmed Decision: applies a specific solution crafted for a unique problem. Crisis Management: is preparation for the management of crises that threaten an organization's health and well-being. Systematic Thinking: approaches problems in a rational & analytical fashion. Intuitive Thinking: approaches problems in a flexible and spontaneous fashion. Strategic Opportunism: focuses on long-term objectives while being flexible in dealing with short-term problems. STEP 2: Generate & STEP 3: Make STEP 1: Find & define the problem evaluate alternative decision & conduct solutions ethics double-check STEP 4: Implement STEP 5: Evaluate the decision results. Cost Benefit Analysis: involves comparing the costs and benefits of each potential course of action. Classical decision making: describes decision making with complete information. Behavioural decision making: describes decision making with limited information & bounded rationality.
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