Chapter 1: Management Today
Introduction:
● “Management today”, see how the world changes compared to the past
● New things, environment
●
... [Show More] Ex. social media, markets are more open ‘globalization’, changes in ethics
Working today
Talent
● Diversity issues relating to educational opportunity, access to technology, housing/job
options
● Intellectual capital: is the combines brain power and shared knowledge of an
organization employees
● A knowledge worker’s mind is a critical asset to employer and as to the intellectual
capital
● Competency: personal talents or job related capabilities
● Commitment: how hard you work to apple your talents and capabilities to important tasks
● Commitment x competency = intellectual capital
● Being efficient is very important when it comes to globalization
Technology
● Tech IQ is a person’s ability to use current technologies at work and in personal life
- Checking inventory
- Making a sale transaction
- Ordering supplies
- Telecommuting
- Virtual teams
Globalization
● The worldwide interdependence of resource flows, product markets, and business
competition that characterize our economy
● Job migration occurs when firms shift jobs from on country to another
● Reshoring is the shifting of manufacturing and jobs back home from overseas
Advantage of globalization:
● cheaper labour
● different products
● can sell to many countries at once = larger market
● access to more resources
● Easier to import things, and getting it fast
Disadvantage of globalization:
● People can lose their jobs, if they outsources products from different countries
● Not understanding the culture
Global south:
● Are developing countries
● Global north are the wealth countries
● North used the south to keep then in developing states
● South thinks that free trade and globalization are just ideas of the north that they use to
keep them in that state
● Company like nike
● Flow of resource , money moves more from the south then the north
● Cheaper to buy from china
Ethics [Show Less]