1
GMS NOTES
FINAL EXAM
Chapter 1
1.1 Working Today
Talented People: What they know, what they learn, and what they
achieve. The source of Organizational Performance.
Intellectual Capacity: The combined brainpower and shared
knowledge of an organization's employees.
To Organizations: Intellectual capital represents a strategic asset
as human creativity, insight, and decision-making can be
converted into superior performance.
To Individuals: Intellectual capital is a personal asset, one to be
nurtured and continually updated.
Intellectual Capital: The package of intellect, skills, and capabilities
that sets us apart, making us valuable to potential employers.
Maintaining your Talent: There is no escaping the fact that your
career success will require a lot of initiative, self-awareness, and
continuous learning.
Technology continuously tests our talents and intrudes into every
aspect of our lives.
We are continuously bombarded with advertisements for the latest
developments: smartphones smart apparel smart cars smart homes.
We struggle to keep up with our social media involvements, stay
connected with messaging, and deal with inboxes full of email and
voice mail.
,2
Tech IQ: The ability to use current technologies at work and in your
personal life, combined with the commitment to keep yourself
updated as technology continues to evolve.
Globalization: the worldwide interdependence of resource flows,
product markets, and business competition. Under its influence,
government leaders worry about the competitiveness of nations, just
as corporate leaders worry about business competitiveness.
Emerging markets will power global growth over the next 20 years.
By 2025, overall global consumption is forecast to reach $62 trillion,
twice its 2013 level, and fully half of this increase will come from the
emerging world.
The Shamrock Organization:
1st leaf – Full-time employees –
standard career paths. 2nd leaf –
“freelancers”
3rd leaf – part-time without benefits (first to lose their jobs in
economic difficulties).
Emerging Market Companies now account for 60% of all low and
medium-technology manufacturing worldwide. Total Value-add in
high-tech manufacturing: from a low 26% in the 1970s to 48% at
present.
Ethics: A code of moral principles that sets standards for conduct that
is “good” and “right” as well as “bad” and “wrong.”
,3
1.2 Organizations
An organization is a collection of people working together to achieve
a common purpose.
It is a unique social phenomenon that enables its members to
perform tasks far beyond the reach of individual accomplishment
(synergy). The broad purpose of any organization is to provide goods
or services of value to customers and clients.
A clear sense of purpose tied to:
➔ quality products and services
➔ customer satisfaction
➔ social responsibility can be an important source of
organizational strength and performance advantage
All organizations are open systems that interact with their
environments.
It is a continual process of obtaining resource inputs—people,
information, resources, and capital—and transforming them into
outputs in the form of finished goods and services for customers.
Value Creation: Organizations create value when they use resources
well to produce good products and take care of their customers. One
simple way to assess the impact of any organization is to ask the
question: How is the world different because it existed?
Triple Bottom Line: An evaluation of organizational performance on
economic, social, and environmental criteria.
The 3 Ps of organizational performance:
Profit—Is the decision economically sound?
People—Does the decision treat people with respect and dignity?
Planet—Is the decision good for the environment?
Productivity: An overall measure of the quantity and quality of work
performance with resource utilization taken into account
, 4
Performance effectiveness: An output measure of task or goal
accomplishment Performance efficiency: An input measure of
the resource costs associated with goal accomplishment
Workplace changes that impact management
➔ Focus on valuing human capital
➔ The demise of “command-and-control”
➔ Emphasis on teamwork
➔ Pre-eminence of technology
➔ Importance of networking
➔ New workforce expectations
➔ Concern for sustainability
GMS NOTES
FINAL EXAM
Chapter 1
1.1 Working Today
Talented People: What they know, what they learn, and what they
achieve. The source of Organizational Performance.
Intellectual Capacity: The combined brainpower and shared
knowledge of an organization's employees.
To Organizations: Intellectual capital represents a strategic asset
as human creativity, insight, and decision-making can be
converted into superior performance.
To Individuals: Intellectual capital is a personal asset, one to be
nurtured and continually updated.
Intellectual Capital: The package of intellect, skills, and capabilities
that sets us apart, making us valuable to potential employers.
Maintaining your Talent: There is no escaping the fact that your
career success will require a lot of initiative, self-awareness, and
continuous learning.
Technology continuously tests our talents and intrudes into every
aspect of our lives.
We are continuously bombarded with advertisements for the latest
developments: smartphones smart apparel smart cars smart homes.
We struggle to keep up with our social media involvements, stay
connected with messaging, and deal with inboxes full of email and
voice mail.
,2
Tech IQ: The ability to use current technologies at work and in your
personal life, combined with the commitment to keep yourself
updated as technology continues to evolve.
Globalization: the worldwide interdependence of resource flows,
product markets, and business competition. Under its influence,
government leaders worry about the competitiveness of nations, just
as corporate leaders worry about business competitiveness.
Emerging markets will power global growth over the next 20 years.
By 2025, overall global consumption is forecast to reach $62 trillion,
twice its 2013 level, and fully half of this increase will come from the
emerging world.
The Shamrock Organization:
1st leaf – Full-time employees –
standard career paths. 2nd leaf –
“freelancers”
3rd leaf – part-time without benefits (first to lose their jobs in
economic difficulties).
Emerging Market Companies now account for 60% of all low and
medium-technology manufacturing worldwide. Total Value-add in
high-tech manufacturing: from a low 26% in the 1970s to 48% at
present.
Ethics: A code of moral principles that sets standards for conduct that
is “good” and “right” as well as “bad” and “wrong.”
,3
1.2 Organizations
An organization is a collection of people working together to achieve
a common purpose.
It is a unique social phenomenon that enables its members to
perform tasks far beyond the reach of individual accomplishment
(synergy). The broad purpose of any organization is to provide goods
or services of value to customers and clients.
A clear sense of purpose tied to:
➔ quality products and services
➔ customer satisfaction
➔ social responsibility can be an important source of
organizational strength and performance advantage
All organizations are open systems that interact with their
environments.
It is a continual process of obtaining resource inputs—people,
information, resources, and capital—and transforming them into
outputs in the form of finished goods and services for customers.
Value Creation: Organizations create value when they use resources
well to produce good products and take care of their customers. One
simple way to assess the impact of any organization is to ask the
question: How is the world different because it existed?
Triple Bottom Line: An evaluation of organizational performance on
economic, social, and environmental criteria.
The 3 Ps of organizational performance:
Profit—Is the decision economically sound?
People—Does the decision treat people with respect and dignity?
Planet—Is the decision good for the environment?
Productivity: An overall measure of the quantity and quality of work
performance with resource utilization taken into account
, 4
Performance effectiveness: An output measure of task or goal
accomplishment Performance efficiency: An input measure of
the resource costs associated with goal accomplishment
Workplace changes that impact management
➔ Focus on valuing human capital
➔ The demise of “command-and-control”
➔ Emphasis on teamwork
➔ Pre-eminence of technology
➔ Importance of networking
➔ New workforce expectations
➔ Concern for sustainability
