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Book Notes for ADM 2337

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University of Ottawa

CHAPTER 1Working TodayIn the workforce today companies are expected to excel on performance due tooTalent corporations invest in developing peopleinvesting in their futureIntellectual Capital the collective brainpower or shared knowledge of a workforce ICCompetency x Commitment Knowledge Worker when someones mind is a critical asset to employers Someone who is willing to continuously learnoWorkplace Diversity describes differences among workers in gender race age ethnicity religion orientation etcHow diversity bias can occur in the workplacePrejudice display of negative irrational attitudes toward members of diverse populations diversity biasDiscrimination actively denies minority members the full benefits of organizational membership Glass Ceiling Effect an invisible barrier that prevents women of visible minorities from rising above a certain level of organizationsoGlobalization the national boundaries of world business have largely disappeared Products designed in one country components in another and final assembly in anotherThe worldwide interdependence of resource flows product markets and business competition Helps improve technology Countries interconnected through news travel and lifestylesThomas Friedman The World is Flat says Indias businessmen believe any work that can be decomposed and moved around will beoTechnology We live in a technologydriven world increasingly dominated by bar codes automatic tellers email IM blogs texts social networks etcCheck inventory making a sales transaction ordering suppliesIncreasing demand for knowledge workers with skills to use technooEthics code of moral standards of what is goodright in ones behaviorsCEO of Dial Herb Baum is an example of positive ethics He believed CEOs are overpaid gave his annual bonus to firms lowestpaid workers Believes key to leadership success is to set ethicsoPortfolio Worker Has uptodate skills that allow for job and career mobilityOrganization a collection of people working together to achieve a common purposeoAll organizations want to provide goodsservices of value to customersclientsoOpen Systems transforms resource inputs from the environment into productsEnvironment supplies Resource Inputs people money materials technology informationEnvironment consumes Product Outputs finished goods and servicesoProductivity the quantity and quality of work performance with resource utilization considered Can be measured individually and as a groupoPerformance Effectiveness an output measure of taskgoal accomplishmentoPerformance Efficiency an input measure of the resource costs associated with goal accomplishment Completion with minimum cost in materialslaborOrganizational EnvironmentGeneral environment is the external conditions that set managerial decisionmaking1Economic Conditions What influences customer spending resource supplies and investment capital Also the overall health of economy markets inflation GDP2LegalPolitical Conditions keep up to date with laws and regulations govt policies objectives with political parties Also health care sales tax etcaInternet censorship the deliberate blockage and denial public access to information posted on the internet3Technological Conditions technology is constantly changing and improving Must keep up to date also problem with workers on social media at work4SocioCultural Conditions understand the norms customs and social values on matters like ethics human rights gender roles and lifestyles Track demographic and social trends that affect customer tastes and preferences 5Natural Environment Conditions green is an issue in our communities Expectations for companies to supply environmentally friendly products and operate in ways that preserve the environmentaSustainable business meets the needs of customers and protects the wellbeing of our natural environment less waste and toxic materials energybSustainable innovation creates new products and production methods that have reduced environmental impacts energy use water use packaging waste management etcStakeholdersthe Specific Environment The specific environment consists of the actual organizations groups and persons with whom an organization interacts and conducts business Stakeholders persons groups or institutions directly affected by an organizationoEx customers suppliers competitors regulators investorsownersValue Creation the creation of value for and satisfying needs of stakeholders Businesses try satisfying needs of stakeholders therefore making their services valuable Competitive Advantage allows an organization to deal with market and environmental forces better tan its competitors The ability to do things better than your competitor oStrategic Positioning when an organization does different or the same things in different ways from its major competitorsThis can be done through cost quality delivery and flexibilityOrganizational Effectiveness is sustainable high performance is using resources to accomplish a mission This can be seen from different vantage pointsoSystemsResource approach defines success in terms of resource acquisitionoInternalprocess approach in terms of how efficiently resources are used to produce goods and servicesoGoalapproach how to measure achievement of key operating systemsoStrategicConstituencies approach in terms of the organizations impact on key stakeholders and their interestsMANAGER person who supports activatesis responsible for the work of othersoResponsible for own work and also overall performance of a team or groupLevels of Managers Top managers Middle managers Firstline managersTop at the highest level of organizations CEO President and VP Responsible for performance of organization as a whole or for largest parts Pay special attention to external environment alert to longrun problems and opportunities and look at longterm vision Futureoriented strategic thinkers and decision makersMiddle report to the Top and in charge of relatively large departmentsdivisions of smaller work units Ex clinic directors deans plant managers They work with top managers and coordinate with peers to develop and implement action plansFirstTeam Leader Plan meetings Someone in charge of a small work group composed of nonmanagerial workers Recruit train and develop team members Inform team about goals inform higher levels of work unit needs and coordinatesTypes of Managers Managers work in different capacities within organizationsLine Managers directly contribute to producing the organizations goodsservices ex retail manager department supervisorsStaff Managers use special technical expertise to advise and support line workers ex director of human resources and chief financial officerFunctional Managers responsible for one area of activity finance marketing production accounting or salesGeneral Managers responsible for complex multifunctional unitsAdministrators a manager in a nonprofit or public organizationAccountability the requirement to show performance results to a supervisorhigher authority Team Leader Middle ManagerTop Manager Board of Directors Effective Managers helps other achieve high performance and satisfaction at workoConcern for performance and satisfaction introduces concept
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