1101IBA Lecture Notes - Lecture 1: Critical Thinking, Lifelong Learning, Uptodate
30 May 2018
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Week 1 Management concepts Lecture Notes
The contemporary Workplace
The network and global challenge
• Todays eooy is a etorked eooy
• The new economy is a global economy. National economies are becoming
increasingly interdependent (globalization)
• Organizations are expected to continuously excel on performance criteria
• For individuals, there are no guarantees of long-term employment
The brain power challenge
• Eployees represet the firs itelletual apital. The hallege is to oie the
talents of many people, sometimes thousands, to achieve unique and significant
results
• Intellectual capital
o The collective brain power or shared knowledge of a workforce
• Knowledge worker
o Someone whose knowledge is an important asset to employers
Is technology our friend or foe?
• Computers allow organizations of all types and sizes, locally and internationally, to
speed transactions and improve decision making
• I irtual spae people i reote loatios a hold eetigs, aess oo
databases, share information/files, make plans and solve problems together without
having to meet face to face
• Computer literacy must be mastered and continuously developed as a foundation for
career success
The diversity opportunity- people change
• Workforce diversity- differences among workers in gender, race, age, ethnic culture,
able-bodiedness, religious affiliation and sexual orientation
• By valuing diversity, organizations can tap a rich talent pool and help work to their
full potential
• The challenge of overcoming prejudice and discrimination
Ethics anyone?
• Ethical and social responsibility issues involve all aspects of organizations, the
behavior of their members and their impact on society
• Expectations now include:
o Sustainable development, environmental protection
o Product safety and fair practices
o Protection of human rights
o In the workplace: equal employment opportunities, equity of compensation,
privacy, job security, health and safety, and freedom from sexual harassment
find more resources at oneclass.com
find more resources at oneclass.com
What happened to my career?
• Todays areer ipliatios ilude:
o Core workers: full-time, pursuing a traditional career path
o Contract workers: perform specific tasks as needed
o Casual and part time workers: hired as needed
• The term free agency is increasingly used to describe career management- you must
be prepared to change jobs over time, and your skills must be portable and of
current value in the market
What is an organization?
• Organization
o A collection of people working together with a decision of labour to achieve a
common purpose
o A orgaizatio should retur alue to soiety ad satisfy ustoers eed to
justify its continued existence
• Open systems
o Transform resources inputs from the environment into product or service
outputs
What do we know if organizations are performing?
• Value is created when resources are used in the right way, at the right time, at
minimum cost to create high-quality goods/ services
• Performance measures include:
o Productivity- the quantity and quality of work performance, with resources
use considered
o Performance effectiveness- an output measure to task or goal
accomplishment
o Performance efficiency- a measure of resources cost associated with goal
accomplishment
find more resources at oneclass.com
find more resources at oneclass.com
Document Summary
The network and global challenge: today(cid:859)s e(cid:272)o(cid:374)o(cid:373)y is a (cid:374)et(cid:449)orked e(cid:272)o(cid:374)o(cid:373)y, the new economy is a global economy. National economies are becoming increasingly interdependent (globalization: organizations are expected to continuously excel on performance criteria, for individuals, there are no guarantees of long-term employment. The brain power challenge: e(cid:373)ployees represe(cid:374)t the fir(cid:373)(cid:859)s i(cid:374)telle(cid:272)tual (cid:272)apital. The (cid:272)halle(cid:374)ge is to (cid:272)o(cid:373)(cid:271)i(cid:374)e the talents of many people, sometimes thousands, to achieve unique and significant results. Intellectual capital: the collective brain power or shared knowledge of a workforce, knowledge worker, someone whose knowledge is an important asset to employers. Is technology our friend or foe: computers allow organizations of all types and sizes, locally and internationally, to speed transactions and improve decision making. Ethics anyone: ethical and social responsibility issues involve all aspects of organizations, the behavior of their members and their impact on society, expectations now include, sustainable development, environmental protection, product safety and fair practices, protection of human rights.
