GMS 200 Lecture 1: Chapters 1 & 13 (Lectures 1 & 2)

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

Document Summary

Gms 200 - introduction to global management (sept. 7/16) Increased use of social media: stay engaged with current customers, develop greater awareness of company in the marketplace, identify and attract new customers. Becoming more difficult to define value and customer satisfaction. More intense competition in the global marketplace: difficult to gain and maintain market share. Know their customers very well and anticipate their demands. Focus on the things they do best. Develop employee capabilities in accordance with business strategies. Engage in succession planning to orderly replace retiring managers. Managers are expected to organize the workplace in a way that gets the most out of workers and other resources at their disposal. Five characteristics of useful information: timely, high quality, complete, relevant, understandable. Heuristics strategies (quick and dirty) that people use to simplify decision- making when there is limited time, information and energy.