Textbook Notes (378,619)
CA (167,197)
Ryerson (11,569)
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GMS 200 (577)
Chapter 1

Chapter 1

9 Pages
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Department
Global Management Studies
Course Code
GMS 200
Professor
Shavin Malhotra

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GMS200 Textbook NotesWeek 1
CHAPTER 1: THE DYNAMIC NEW WORKPLACE
-Learning and speed are in, habit and complacency are out (workopolis.com)
-Best employers not just good at attracting and retaining talented employees, they excel
at creating high –performance context/environment in which everyones abilities are
highly valued
-Charles OReily and Jeffery Pfeffer conclude success is achieved because they’re better
than their competitors at getting extraordinary results from people working for them
Working in the new economy:
-Networked economy where people, institutions, and nations are increasingly influenced
by the Internet and continuing developments in information technology
-New economy is global, and the nations of the world are increasingly interdependent
-Success forged in workplaces that are continually being reinvented to unlock the great
potential of human intelligence (new economy is knowledge based)
-Economy is performance driven. Expectations for organizations +members are very
high. Society demands the best from all its institutions
-No guarantees of long term employment
Intellectual Capital
- “when we as a corporation invest in developing people, we are investing in our future
- Max DePree former CEO of Herman Miller says being successful is reaching your
potential
-People are the ultimate foundations of organizational performance (ability to combine
many peoples talents-sometimes thousands- to achieve unique/significant results)
-Intellectual capital: the collective brainpower or shared knowledge of a work force that
can be used to create value
-This is the new age of the Knowledge worker: Someone whose mind is a critical asset
to employers and adds to the intellectual capital of the organization
Globalization
-Kenichi Ohmae suggests that the national boundaries of world business have largely
disappeared (dont know where things are actually manufactured)
-Parts of products (components) are made in different countries
-The word overseas is not used anymore in everyday business vocab.
-Global corporations view themselves as equidistant (halfway, middle...) from customers
and suppliers, wherever in the world theyre located
-Globalization: the worldwide interdependence of resource flows, product markets, and
business competition, characterizes our new economy
- “Improvements in technology (esp. communications/transportation) combine w/ the
deregulation of markets and open borders to bring about vastly expanded flows of
people, money, goods, services, and information
-In a globalized world, countries and people are increasingly interconnected through the
news, in travel and lifestyles, in labour markets and employment patterns, and in
business dealings.
1
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GMS200 Textbook NotesWeek 1
-Government leaders worry about the competitiveness of nations, like how corporate
leaders worry about business competitiveness
Technology
-Technology is an indispensible part of everyday operations
-Geographical distances dont matter when it comes to communication in organizations
(computer networking FTW)—VIRTUAL SPACE
-As pace and complexities of technological change accelerate, demand for knowledge
workers with the skills to best utilize technology is increasing
-Computer literacy must be mastered and continuously updated as a foundation for
career success
Diversity
-Workforce Diversity: Describes differences in gender, race, age, ethnicity, able-
bodiness, religious affiliation, and sexual orientation among workers
-Canadian Human Rights Act- very strict in prohibiting the use of demographic
characteristics in human resource management decisions
-Valuing diversity organizations can tap a rich talent pool and help everyone work to
their full potential
-For each $1 earned by men, women earn 86 cents
-66% of minority women in management are dissatisfied with their career advancement
opportunities
-Recent study resumes sent to potential employers, those that have white-sounding
names like Brett, received 50% more responses than those with black-sounding first
names like Kareem (diversity bias in work settings)
-Prejudice: Display of negative, irrational attitudes/opinions toward women or minorities/
members of diverse populations, sets the stage for bias
-Discrimination: When minority members are treated unfairly and denied full benefits of
organizational membership. Actively denies women and minorities the full benefits or
organizational membership
-Subtle form of discrimination Glass ceiling effect: An invisible barrier limiting career
advancement (or keeps them from rising above certain level of organizational
responsibility) of women and minorities
-Underutilizes and undervalued human capital
Ethics
-Ethics: (Code of moral principles...sets standards of) Set moral standards of what is
good and “right in ones behaviour as opposed to bad or wrong in the conduct of a
person or group
-Expectations... integrity, ethical leadership at all levels in an organization, sustainable
development and protection of the natural environment, protection of consumers through
product safety and fair practices, and protection of human rights in all aspects of society,
including employment
-Corporate governance: is oversight of a company’s management by a board of
directors. (the role of corporate governance, the active oversight of management
decisions and company actions by boards of directors)
2
www.notesolution.com
GMS200 Textbook NotesWeek 1
-Expectation: boards will hold management accountable for ethical and socially
responsible behaviour by the businesses they are hired to lead
-
Careers
-Charles Handy suggests the analogy of the Irish shamrock to describe and understand
new employment patterns characteristic of this dynamic environment.
oEach shamrocks three leaves has a different career implication
In one leaf- core workers. Full-time employees pursue traditional career
paths. Can advance within the organization and may remain employed for
a long time
Second leaf- Contract workers. Perform specific tasks as needed by
organization and are compensated on a fee-for-services basis rather than
by a continuing wage or salary
Third leaf- Part-time workers. Hired only as needed and for only the
number of hours needed. Part-time work can be a training ground of point
of entry to the core when openings are available
- Must prepare to change jobs and employers over time, and skills must be portable and
always of current value in the employment markets. Skills are not gained once and then
forgotten, they have to be maintained and upgraded all the time. Wont be uniformly full-
time and limited to a single large employer
Organizations in the New Workplace:
-Critical survival skills for new workplace: mastery, network, entrepreneurship, embrace
technology, marketing, passion for renewal
-Have to decide who you want to work for. Board of directors, a pension fund, venture
capitalist, a traditional boss”
What is an organization?
-Organization: collection of people working together to achieve a common purpose
-Organizations share board purpose- providing useful goods or services
-Each one should return value to society and satisfy customers needs in order to justify
its continued existence
Organizations as Systems
-Systems composed of interrelated parts that work together to achieve common purpose
-Open System: organizations interact w/ their environment to transform resources inputs
into product outputs- in the form of finished goods/services
-External environment =critical element in open-systems view or organizations
oSupplier of resources
oSource of customers
oFeedback from environment tells organization how its doing
ORGANIZATIONS AS OPEN SYSTEMS
3
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Description
GMS200 Textbook Notes Week 1 CHAPTER 1: THE DYNAMIC NEW WORKPLACE - Learning and speed are in, habit and complacency are out (workopolis.com) - Best employers not just good at attracting and retaining talented employees, they excel at creating high performance context/environment in which everyones abilities are highly valued - Charles OReily and Jeffery Pfeffer conclude success is achieved because theyre better than their competitors at getting extraordinary results from people working for them Working in the new economy: - Networked economy where people, institutions, and nations are increasingly influenced by the Internet and continuing developments in information technology - New economy is global, and the nations of the world are increasingly interdependent - Success forged in workplaces that are continually being reinvented to unlock the great potential of human intelligence (new economy is knowledge based) - Economy is performance driven. Expectations for organizations +members are very high. Society demands the best from all its institutions - No guarantees of long term employment Intellectual Capital - when we as a corporation invest in developing people, we are investing in our future - Max DePree former CEO of Herman Miller says being successful is reaching your potential - People are the ultimate foundations of organizational performance (ability to combine many peoples talents-sometimes thousands- to achieve unique/significant results) - Intellectual capital: the collective brainpower or shared knowledge of a work force that can be used to create value - This is the new age of the Knowledge worker: Someone whose mind is a critical asset to employers and adds to the intellectual capital of the organization Globalization - Kenichi Ohmae suggests that the national boundaries of world business have largely disappeared (dont know where things are actually manufactured) - Parts of products (components) are made in different countries - The word overseas is not used anymore in everyday business vocab. - Global corporations view themselves as equidistant (halfway, middle...) from customers and suppliers, wherever in the world theyre located - Globalization: the worldwide interdependence of resource flows, product markets, and business competition, characterizes our new economy - Improvements in technology (esp. communications/transportation) combine w/ the deregulation of markets and open borders to bring about vastly expanded flows of people, money, goods, services, and information - In a globalized world, countries and people are increasingly interconnected through the news, in travel and lifestyles, in labour markets and employment patterns, and in business dealings. 1 www.notesolution.com GMS200 Textbook Notes Week 1 - Government leaders worry about the competitiveness of nations, like how corporate leaders worry about business competitiveness Technology - Technology is an indispensible part of everyday operations - Geographical distances dont matter when it comes to communication in organizations (computer networking FTW)VIRTUAL SPACE - As pace and complexities of technological change accelerate, demand for knowledge workers with the skills to best utilize technology is increasing - Computer literacy must be mastered and continuously updated as a foundation for career success Diversity - Workforce Diversity: Describes differences in gender, race, age, ethnicity, able- bodiness, religious affiliation, and sexual orientation among workers - Canadian Human Rights Act- very strict in prohibiting the use of demographic characteristics in human resource management decisions - Valuing diversity organizations can tap a rich talent pool and help everyone work to their full potential - For each $1 earned by men, women earn 86 cents - 66% of minority women in management are dissatisfied with their career advancement opportunities - Recent study resumes sent to potential employers, those that have white-sounding names like Brett, received 50% more responses than those with black-sounding first names like Kareem (diversity bias in work settings) - Prejudice: Display of negative, irrational attitudes/opinions toward women or minorities/ members of diverse populations, sets the stage for bias - Discrimination: When minority members are treated unfairly and denied full benefits of organizational membership. Actively denies women and minorities the full benefits or organizational membership - Subtle form of discrimination Glass ceiling effect: An invisible barrier limiting career advancement (or keeps them from rising above certain level of organizational responsibility) of women and minorities - Underutilizes and undervalued human capital Ethics - Ethics: (Code of moral principles...sets standards of) Set moral standards of what is good and right in ones behaviour as opposed to bad or wrong in the conduct of a person or group - Expectations... integrity, ethical leadership at all levels in an organization, sustainable development and protection of the natural environment, protection of consumers through product safety and fair practices, and protection of human rights in all aspects of society, including employment - Corporate governance: is oversight of a companys management by a board of directors. (the role of corporate governance, the active oversight of management decisions and company actions by boards of directors) 2 www.notesolution.comGMS200 Textbook Notes Week 1 - Expectation: boards will hold management accountable for ethical and socially responsible behaviour by the businesses they are hired to lead - Careers - Charles Handy suggests the analogy of the Irish shamrock to describe and understand new employment patterns characteristic of this dynamic environment. o Each shamrocks three leaves has a different career implication In one leaf- core workers. Full-time employees pursue traditional career paths. Can advance within the organization and may remain employed for a long time Second leaf- Contract workers. Perform specific tasks as needed by organization and are compensated on a fee-for-services basis rather than by a continuing wage or salary Third leaf- Part-time workers. Hired only as needed and for only the number of hours needed. Part-time work can be a training ground of point of entry to the core when openings are available - Must prepare to change jobs and employers over time, and skills must be portable and always of current value in the employment markets. Skills are not gained once
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