GMS 200 Chapter Notes - Chapter 1: Natural Environment, Competitive Advantage, Social Capital
28 Jun 2018
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GMS - Chapter 1 - Introducing Management
What employees know, what they learn and what they do with it are the ultimate
foundations of organizational performance
Intellectual capital - the collective brainpower or shared knowledge of a workforce
Intellectual capital = competency x commitment
Knowledge workers - someone whose mind is a critical asset to employers
Diversity - describes differences among workers in gender, race, age, ethnicity,
religion, sexual orientation and able-bodiedness
Prejudice - the display of negative, irrational attitudes toward members of diverse
populations
Discrimination - actively denies minority members the full benefits of
organizational membership
Glass ceiling effect - invisible barrier limiting career advancement of women and
minorities
Globalization - the worldwide interdependence of resource flows, product markets
and business competition
A process in which improvements in technology combine with the
deregulation of markets and open borders to bring about vastly expanded
flows of people, money, goods, services and information
Physical distance hardly matters anymore, people hold meetings in virtual space as
well as access common databases, share information and files, make plans and solve
problems
Technology has also added great flexibility to work arrangements: telecommuting,
working from home, and maintain mobile offices
Ethics - set moral standards of what is good and right in ones behaviour
Globalization, emerging technologies and the demand for talent make very personal
the importance of initiative and self-renewal when it comes to careers
Charles Handy’s shamrock to discuss career patterns characteristic of the new
economy - independent contractors, full time core workers and part-time
temporaries
Portfolio worker - has up-to-date skills that allow for job and career mobility
Organization - is a collection of people working together to achieve a common
purpose
Open system - transforms resource inputs from the environment into product
outputs
The external environment is both the supplier of resources and the course of
customers
Feedback from the environment indicates how well an organization is doing
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GMS 200 Full Course Notes
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