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Chapter 1

Chapter 1 - Introducing Management.docx

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Global Management Studies
GMS 400
Shavin Malhotra

Chapter 1: Introducing Management Working Today: - Expectations for organizations and their members are high - Expected to continuously excel on performance criteria that include concerns for ethics and social responsibilities, innovativeness, and employee development, as well as measures of profitability and investment value - When they fail, customers, investors, and employees are quick to let them know - There are no guarantees of long term employment for individuals - Jobs are earned through one’s performance accomplishments Intellectual Capital: is the collective brainpower or shared knowledge of a workforce Knowledge Worker: is someone whose mind is a critical asset to employers Workforce Diversity: the composition of a workforce in terms of differences among people according to gender, age, race, ethnicity, religion, sexual orientation, and able bodiedness Prejudice: holding or negative, irrational opinions and attitudes regarding members of diverse populations, sets the stage for diversity bias Discrimination: when visible minority members are unfairly treated and denied the full benefits of organizational membership Glass Ceiling Effect: an invisible barrier limiting career and advancement of women and minorities Globalization: the worldwide interdependence of resource flows, product markets, and business competition that characterizes our new economy Ethics: set moral standards of what is “good” and “right” in one’s behaviour Organization: collection of people working together to achieve a common purpose Are organizations an open or a close system?  Most organizations will have an open system. It is very rare for organizations to survive in isolation. The environment supplies resource inputs (people, money, materials, technology, and information) then the organization creates work activities turn resources into outputs (this is the transformation process) then finally, the environment consumes product outputs (finished goods and/or services).  Most organizations will have a customer who will buy your product whether intangible or tangible. They will give you feedback whether the product is good or not. Sales go up if product is good. They will give you feedback. Sales go up if customers like the product. What is a Manager? Traditional: person who plans, directs people and resources New Organization: people who directly supports and helps activate the work effort and performance accomplishments of others Management levels in a typical organization: Manager: person who supports, activates, and is responsible for the work of others Top Manager: guide the performance of the organization as a whole or of one of its major parts Middle Manager: oversee the work of large departments or divisions Team Leader: report to middle managers and supervise non-managerial workers Top Managers -> Middle Managers -> First-line Managers -> Nonmanagerial Workers Managers require: Conceptual skills – the ability to think analytically and achieve integrative problem solving (finding new solutions for a problem) Human skills – the ability to work well in cooperation with other persons (understanding their needs and requirements and trying to motivate them) Technical skills – the ability to apply expertise and perform a special task with proficiency Top level managers require human skills and conceptual skills. It is not critical whether you
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