Summary John R. Schemerhorn Management - Chapter 1 - The Management Process

Management Chapter 1 The Management Process


Working Today
Talent
 people and their talents are the ultimate foundations of organizational
performance
 Intellectual capital – collective brainpower or shared knowledge of a
workforce
 Intellectual capital = Competency x Commitment
 Knowledge worker – someone whose mind is a critical asset to employers
Technology
 Tech IQ – the ability to use and stay informed on the latest technological
developments
o For example; telecommuting, job searches, recruiting, social media,
checking inventory, ordering supplies etc…
Globalization
 Globalization - the worldwide interdependence of resource flows, product
markets, and business competition that characterize our economy
 Controversial side to globalization is job migration (when firms shift jobs
from one country to another)
Ethics
 Code of moral principles that set standards of conduct of what is “good”
and “right” in one’s behavior
 Ethics expectations now a days include; integrity and ethical leadership
at all levels, social responsibility & sustainability
Diversity
 Workforce diversity – differences among workers including age, race,
gender, religion, sexual orientation
 Prejudice – preconceived opinion that is not based on reason or actual
experience
 Prejudice can turn into discrimination
 Discrimination – denies minorities the full benefits of organizational
membership
 Glass ceiling effect – limiting career enhancement of women and
minorities
Careers
 Shamrock organizations
Permanent
full time
workers

Temporary Freelance or
part-time contract
workers workers



• Free-agent economy - people change jobs more often, independent
contracts
• Self-management - ability to understands oneself, exercise
initiative, accept responsibility, and learn from experience