GMS 200 Lecture 13: GMS Exam Review Notes

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

Document Summary

Intellectual capital- collective brainpower or shared knowledge of a workforce that can be used to create value. Workforce diversity- reflects differences with respect to gender age, race ect. A diverse and multicultural workforce challenges and offers opportunities to employers, diversity can be called. Business imperative and be viewed as an asset, diversity bias can occur in a business throughout prejudice, discrimination and class ceiling effect. Globalization- worldwide interdependence of resource flows, product markets, and business competition that characterlike the new economy. Workplace changes that provide a context for studying management are priorities on sustainability, valuing human capital, demise of command and control , teamwork, networking, speed. Anchoring and adjustment heuristic- bases a decision on incremental adjustments from a prior decision point. Management with analytics- involves systematic gathering and processing of data to make informed decisions. Availability heuristic- bases a decision on recent info or events.