Textbook Notes (381,132)
CA (168,365)
Ryerson (11,724)
GMS (1,025)
GMS 200 (577)
Jian Guan (27)
Chapter 1

Chapters 1, 4, 5

15 Pages
56 Views

Department
Global Management Studies
Course Code
GMS 200
Professor
Jian Guan

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GMS200 MIDTERM REVIEW (SUMMARIZED)
CHAPTER ONE:
WORKING CHALLENGES FOR THE NEW ECONOMY
Intellectual Capital: Collective brainpower or share knowledge of a workforce that can be
used to create value
Globalization: The worldwide interdependence of resource flows, product markets, and
business competition that characterize the new economy
Technology: A continuing transformation of a modern workplace through (the internet,
www, computer, information technology)
Diversity: within a workforce which reflects that differences with respects to gender, age,
ethnicity, religion, sexual orientation. A diverse multicultural workforce both challenges
and offers opportunities to employers
Ethics: code of moral principles, society requires business to operate with high moral
standards
Careers: 21st century, not limited only to full-time positions, opened up to (part-time and
seasonal),
Skills must be convenient in different work industries and must always be up to date
ORGANIZATIONS
Organization: a collection of people who work together in order to achieve a common
purpose
- provides useful goods and/or services that return value to society and satisfy customer
needs
- interaction with environment
- transform resource inputs into outputs of goods and services
- environmental feedback tells organization how well it is meeting the needs of customers
and society
Organizational Performance: value is created when an organizations operations add
value to the original cost of resource inputs
Value Creation: results to business earning a profit, and a non-profit organization adding
wealth to society
Productivity: overall measure of quantity and quality of work performance with resource
utilization taken into account
Performance Effectiveness: an output measure of task or goal accomplishment
(RESULTS)
www.notesolution.com
Performance Efficiency: an input measure of the resource costs associated with goal
accomplishment
MANAGERS
Managers: A person in an organization who supports and is responsible for the world of
others
- Have the ability to create a positive or negative working environment
High Performing Managers: Build working relationships with others, and form a work
environment that is performance driven and worker satisfaction
Employees: the individual who managers assist are the ones whose tasks represent the
real work of the organization
Toxic Workplaces: treat employees as costs rather than humans
High Performing Organizations: treat employees as valuable strategic assets
Common Complaints about Managers: do not maintain speed in a changing
environment, outdated in terms of language attitude and knowledge
***FIVE TYPES OF MANAGERS
Line Managers: responsible for work activities that directly affect organizations outputs
Staff Managers: use technical expertise to advise and support the efforts of line workers
Functional Managers: responsible for a single area of activity
General Managers: responsible for more complex units that include many functional
areas
Administrators: work in public and non-profit organizations
LEVELS OF MANAGEMENT
Top Managers: responsible for performance of an organization as a whole or for one of its
larger parts (Example: Carmen)
Middle Managers: in charge of relatively large departments or divisions (Example: Vito
Dairy Dept)
Project Managers: coordinate complex projects with task deadlines
Team Leaders or Supervisors: in charge of a small work group or non-managerial
workers (Example: Andrew)
RESPONSIBILITY OF TEAM LEADERS
Plan meetings and work schedules
www.notesolution.com
Clarify goals and tasks, gather ideas for improvement
Appraise performance and counsel team members
Recommend pay raises and new assignments
Recruit develop and train team members
Encourage high performance and team work
Inform team members about organizational goals and expectations
Inform higher levels of work unit needs and accomplishments
Coordinate with other teams and supports the rest of the organization
MANAGERIAL PERFORMANCE
Accountability: the requirement of one person to answer to a higher authority for relevant
performance results, to achieve accountability, must help others to achieve high
performance and provide support
Quality of Work Life (QWL): an indicator of the overall quantity of human experiences in
the workplace
QWL indicators: fair pay, safe working conditions, room to progress in a career, protection
of individual rights, opportunities to learns and utilize new skills, pride in work itself and
the organization
FUNCTIONS OF THE MANAGEMENT PROCESS
Planning: the process of setting objectives and determining what actions must be taken to
accomplish objectives
Organization: the process of assigning tasks, distributing resources, and arranging the
coordinate activities of individuals and groups to implement plans
Leading: the process of arousing peoples enthusiasm to work hard and direct their efforts
to fulfill plans and accomplish objectives
Controlling: the process of measuring work performance, comparing results to objectives
and taking corrective action as needed
MANAGERIAL ACTIVITIES AND ROLES
Interpersonal Roles: involve interactions with persons inside and outside
- how managers interact with other people
Informational Roles: involve giving, receiving, and analyzing of information
- how manager exchanges and process information
www.notesolution.com

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Description
GMS200 MIDTERM REVIEW (SUMMARIZED) CHAPTER ONE: WORKING CHALLENGES FOR THE NEW ECONOMY Intellectual Capital: Collective brainpower or share knowledge of a workforce that can be used to create value Globalization: The worldwide interdependence of resource flows, product markets, and business competition that characterize the new economy Technology: A continuing transformation of a modern workplace through (the internet, www, computer, information technology) Diversity: within a workforce which reflects that differences with respects to gender, age, ethnicity, religion, sexual orientation. A diverse multicultural workforce both challenges and offers opportunities to employers Ethics: code of moral principles, society requires business to operate with high moral standards Careers: 21 century, not limited only to full-time positions, opened up to (part-time and seasonal), Skills must be convenient in different work industries and must always be up to date ORGANIZATIONS Organization: a collection of people who work together in order to achieve a common purpose - provides useful goods andor services that return value to society and satisfy customer needs - interaction with environment - transform resource inputs into outputs of goods and services - environmental feedback tells organization how well it is meeting the needs of customers and society Organizational Performance: value is created when an organizations operations add value to the original cost of resource inputs Value Creation: results to business earning a profit, and a non-profit organization adding wealth to society Productivity: overall measure of quantity and quality of work performance with resource utilization taken into account Performance Effectiveness: an output measure of task or goal accomplishment (RESULTS) www.notesolution.comPerformance Efficiency: an input measure of the resource costs associated with goal accomplishment MANAGERS Managers: A person in an organization who supports and is responsible for the world of others - Have the ability to create a positive or negative working environment High Performing Managers: Build working relationships with others, and form a work environment that is performance driven and worker satisfaction Employees: the individual who managers assist are the ones whose tasks represent the real work of the organization Toxic Workplaces: treat employees as costs rather than humans High Performing Organizations: treat employees as valuable strategic assets Common Complaints about Managers: do not maintain speed in a changing environment, outdated in terms of language attitude and knowledge ***FIVE TYPES OF MANAGERS Line Managers: responsible for work activities that directly affect organizations outputs Staff Managers: use technical expertise to advise and support the efforts of line workers Functional Managers: responsible for a single area of activity General Managers: responsible for more complex units that include many functional areas Administrators: work in public and non-profit organizations LEVELS OF MANAGEMENT Top Managers: responsible for performance of an organization as a whole or for one of its larger parts (Example: Carmen) Middle Managers: in charge of relatively large departments or divisions (Example: Vito Dairy Dept) Project Managers: coordinate complex projects with task deadlines Team Leaders or Supervisors: in charge of a small work group or non-managerial workers (Example: Andrew) RESPONSIBILITY OF TEAM LEADERS Plan meetings and work schedules www.notesolution.com
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