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Chapter 1

Chapter 1

5 Pages
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Department
Global Management Studies
Course Code
GMS 200
Professor
Sui Sui

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Chapter 1: The Dynamic New Workplace
STUDY QUESTIONS
1.What are the challenges of working in a new economy?
2.What are organizations like in the new workplace?
3.Who are managers and what do they do?
4.What is the management process?
5.How do you learn the essential managerial skills and competencies?
Motivation: Overview of the 21st century workplace
Organizations must adopt to rapidly changing society
Economy is global and driven by innovation and technology
High performance companies gain extraordinary results from people
working for them
Interdependent, knowledge based
1.What are the challenges of working in a new economy?
Intellectual Capital: collective brainpower or shared knowledge of the
workforce that could be used to create value
oKnowledge worker: someone whose mind is a critical asset to
employers and who adds to the intellectual capital of the
organization
Globalization: worldwide interdependence of resource flows, product
markets, and business competition that characterizes our new economy
Technology: continuing transformation of the modern workplace through
the internet
Diversity: reflects differences with respect to gender, age, race, ethnicity,
religion, sexual orientation, and able-bodiedness
www.notesolution.com
Ethics: code of moral principles of what is good and right in ones
behaviour
Careers: what is the emerging career pattern of the 21st century?
Case example: Bank of Nova Scotia (third largest Bank in Canada)
oFounded in 1832 and in Halifax, Nova Scotia but has moved but has
moved executive offices to Toronto, Ontario
oCanadas International Bank, ranks 92 on the Forbes Global 2000
oAs of 2009, Scotia bank services over 12.5 million customers and
has over 500 billion dollars in assets
o2000 branches in some 50 countries
o2005- bank of year for Mexico, Caribbean, and in Jamaica
2.What are organizations like in the new workplace?
1.0rganization: how do we characterize it?
1.Collection of people working together in a division of labour to
achieve a common purpose
2.Workplace changes that provide a context for studying management
critical skills for success in the new workplace: significance of human
capital, teamwork, etc.
3.Critical skills for success in the new workplace: mastery, contacts/
networks
4.Open systems: organizations interact with their environment to transform
resources into product outputs
5.Organizations as open systems (Figure 1.1 Page 11)
6.Organization Performance: measure of quantity and quality of work
performance
7.Performance Effectiveness: output measure of task or goal
accomplishment
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Description
Chapter 1: The Dynamic New Workplace STUDY QUESTIONS 1. What are the challenges of working in a new economy? 2. What are organizations like in the new workplace? 3. Who are managers and what do they do? 4. What is the management process? 5. How do you learn the essential managerial skills and competencies? Motivation: Overview of the 21 century workplace Organizations must adopt to rapidly changing society Economy is global and driven by innovation and technology High performance companies gain extraordinary results from people working for them Interdependent, knowledge based 1. What are the challenges of working in a new economy? Intellectual Capital: collective brainpower or shared knowledge of the workforce that could be used to create value o Knowledge worker: someone whose mind is a critical asset to employers and who adds to the intellectual capital of the organization Globalization: worldwide interdependence of resource flows, product markets, and business competition that characterizes our new economy Technology: continuing transformation of the modern workplace through the internet Diversity: reflects differences with respect to gender, age, race, ethnicity, religion, sexual orientation, and able-bodiedness www.notesolution.com
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