GMS 200 Chapter 1: Chapter 1.docx

• School: Ryerson University
• Department: Global Management Studies
• Course: GMS 200
• Professor: Bamidele Adekunle

Document Summary

Overview of the 21st century workplace: organizations must adapt to rapidly changing society, economy is global and driven by innovation and technology, high performing companies gain extraordinary results from people working for them, interdependent, knowledge based. Study question 1: what are the challenges of working in the new economy: intellectual capital/talent. People are the ultimate foundations of organizational performance. Intellectual capital is the collective brainpower or shared knowledge of a workforce that can be used to create value. A knowledge worker adds to the intellectual capital of an organization someone who"s mind is a critical asset to employers: globalization. National boundaries of world business have largely disappeared. Globalization is the worldwide interdependence of resource flows, product markets, and business competition that characterize the new economy: technology . Continuing transformation of the modern workplace through: the internet, world wide web, computers. Increasing demand for knowledge workers with the skills to full utilize technology: diversity .