Exam Notes
Chapter 1- PRE MID
Study Questions : 1) What are the challenges of working in the new economy 2) What are the organizations like in the new workplace? 3) Who are the managers and what do they do? 4) What is the management pricess? 5) How do you learn the essential managerial skills and competencies?
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
Intellectual Capital- People are the ultimate foundations of organizational performance, it 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.
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- There is an increasing demand for knowledge workers with the skills to full utilize the technology such as (internet computers and information technology)
Diversity- Workforce diversity reflects differenes with respect to gender, age, race, ethnicity, religion, sexual orientation, and able bodiednes. Creates a diverse and multicultural workforce but challenges and offers opportunities to employers.
Ethics- Code of moral principles, society requires business to operate according to high moral standards. Emphasis today is on restoring the strength of corporate governance.
STUDY QUESTION 2
Some Critical skills for success in the workplace are; mastery, contacts, entrepreneurship, love of technology, marketing, passion for renewal.
Organization- A collection of people working together to achieve a common purpose. Organizations provide useful goods and
Study Questions : 1) What are the challenges of working in the new economy 2) What are the organizations like in the new workplace? 3) Who are the managers and what do they do? 4) What is the management pricess? 5) How do you learn the essential managerial skills and competencies?
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
Intellectual Capital- People are the ultimate foundations of organizational performance, it 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.
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- There is an increasing demand for knowledge workers with the skills to full utilize the technology such as (internet computers and information technology)
Diversity- Workforce diversity reflects differenes with respect to gender, age, race, ethnicity, religion, sexual orientation, and able bodiednes. Creates a diverse and multicultural workforce but challenges and offers opportunities to employers.
Ethics- Code of moral principles, society requires business to operate according to high moral standards. Emphasis today is on restoring the strength of corporate governance.
STUDY QUESTION 2
Some Critical skills for success in the workplace are; mastery, contacts, entrepreneurship, love of technology, marketing, passion for renewal.
Organization- A collection of people working together to achieve a common purpose. Organizations provide useful goods and