MGM101H5 Chapter Notes - Chapter 1: Total Quality Management, Intellectual Capital, The Upsidedown
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MGM101H5 Full Course Notes
Verified Note
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Document Summary
Today"s turbulent environment challenges everyone to understand and embrace continuous change and developments in a new information-driven and global economy. Work in the new economy is increasingly knowledge based, and people, with their capacity to bring valuable intellectual capital to the workplace, are the ultimate foundation of organizational performance. The forces of globalization are bringing increased interdependencies among nations and intense business economies, as customer markets and resource flows create competition. Ever-present developments in information technology and the continued expansion of the internet are reshaping organizations, changing the nature of work, and increasing the value of knowledge workers. Organizations must value the talents and capabilities of a workforce whose members are increasingly diverse with respect to gender, age, race, ethnicity, sexual orientation, able-bodiedness, and lifestyles. Society has high expectations for organizations and their members to perform with commitment to high ethical standards and in socially responsible ways, including protection of the natural environment and human rights.
