GMS 200 Lecture Notes - Lecture 1: Foxconn, Learning Organization, Millennials

• School: Ryerson University
• Department: Global Management Studies
• Course: GMS 200
• Professor: Horatio Morgan

Document Summary

Key global trends in business: greater use of social media to: Develop greater awareness of company in the marketplace. Identify and attract new customers: becoming more difficult to define value and customer satisfaction: Do customers care more about the price of the product or the reputation or image of the company: globalization of production: Production of key components (toshiba, japan; infineon, germany; All parts are assembled abroad (foxconn, china). Finished equipment is re-exported to the apple, u. s: increase in the use of robots: E. g. , robots are being used as receptionists and nursing aids (japan: competition in the global marketplace is becoming more intense: Difficult to gain and maintain market share: businesses have to content with the environmental uncertainty (fig. 1. 6) from textbook. (fig 1. 6- organizational enviroment is shown below) Know their customers very well and anticipate their demands. Focus on the things they do best. Focus on flexibility & speed: information technology (it) is definitely important, but not enough.