Management and Decision Making Essay

Global Management – Chapter 1 – Introducing Management

Working Today
Expected to continuously excel performance on ethics, social responsibility, innovativeness, employee development, profitability and investment value.
Careers are being redefined as “flexibility,” “free agency, and “skill portfolios”
No guarantee of long term employment, jobs are always earned and re-earned.

Talent
“Our greatest assets as a corporation are the gifts, talents and abilities of our employee owners…”
High performers achieve high success because they are better than their competitors at getting extraordinary results.
“Figuring out how to get the best work out of people everyday”
**Talents – knowing what you know, what you learn and what you do with all of that – are the ultimate foundations of organization performance.**
Intellectual capital – the collective brainpower or shared knowledge of a workforce used to create value.
Intellectual capital equation: intellectual capital = competency x commitment (be someone who is reaching the heights of their personal competency and commitment for accomplishment).
Knowledge worker – someone whose mind is a critical asset to the company – they add to the intellectual capital and they are always trying to improve themselves and expecting continuous learning and training.

Diversity
Workforce diversity – describes the differences among workers by gender, race, sex, age, ethnicity, religious, sexual orientation and able-bodiness.
Minorities are assumed to become a part of the majority by the year 2031.
*Diversity bias – white and black names on resumes.
Prejudice – displaying negative, irrational attitudes to a member of a diverse population.
Discrimination – when visible minority members are treated wrong and denied of their benefits due to who they are.
Glass ceiling effect (subtle form of discrimination) – prevents women and people from visible minorities to be restrained from a rise above a certain level or organizational responsibility.
The multicultural workforce should be treated as an asset.

Globalization
Many businesses operate as “global businesses” and are equidistant from customers and suppliers.
Globalization – the worldwide interdependence of resources, markets and business competition.
Helps to bring out an expanded flow of: people, resources, money, goods, services and information.
Employees now worry about being replaced by workers in other countries who can do the job through outsourcing at a lower cost.
Globalization – offering opportunities and challenges in the workforce.

Technology
Many companies are and can be using the new virtual world called “second life” to communicate with other business in a virtual world and learn about new products and services.
“tech iq” – multimedia resumes and electronic portfolios with skills ad job qualifications.

Ethics
Ethics – setting moral standards for what is “’good” and “right” in one’s behavior opposed to “bad” and “wrong.”
**Enron Corp. CEO Jeffrey Skilling was sentenced to 24+ years in jail.

Careers portfolio worker – has up to date skills that allow for job and career mobility.

1.1 Management Smarts

1. Mastery – be good at something and be able to contribute it to your employer.
2. Networking – need to know people, make connections with people in and outside of the business to getting things done.
3. Entrepreneurship – act as if you’re running your own business and try to make improvements and spot opportunities. Be an opportunist.
4. Love of Technology – embrace tech and be aware on how to use IT.
5. Marketing – being able to communicate the success and progress of yours and your groups.
6. Passion for renewal – opened to continuous learning and changing, updating yourself.

What is an Organization?

Organization – a collection of people that work together to achieve a common purpose, far beyond individual accomplishment.

Organizations are

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