GMS 200 Lecture Notes - Lecture 1: High High, Disposable And Discretionary Income, Critical Thinking

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

Document Summary

1. 4 define managers and describe the management process. Globalization: national boundaries of world business have largely disappeared. Technology: increasing demand for workers with technological skills. Workforce diversity: (gender, age, race, ethnicity, religion) offers challenges & opportunities. Talent: intellectual capital = collective brainpower used to create value. Careers: people must make sure that their skills are portable and current. Ethics: code of moral principles of conduct about what is good and right. People working together to achieve a common purpose. Value creation is when an organization"s operations add value to the original cost of resource inputs. Economic environment: economic growth, unemployment rate, disposable income. Legal-political environment: laws and regulations, business forms, political trends. Natural environment: green value, recycling infrastructure. Technological environment: it systems/infrastructure, broadband internet access. Socio-cultural environment: population demographic, education system, health/nutrition values. The specific (task) environment: actual organization, groups, and persons with whom and organization interacts and conducts business.