THE DYNAMIC NEW WORKPLACE

• Intellectual Capital


  Collective brainpower or shared knowledge of a workforce that can be used to create value
• Knowledge Worker

  Someone whose mind is a critical asset to employers and who adds to the intellectual capital of the organization
• Globalization

  The worldwide interdependence of resource flows, product markets, and business competition that characterizes our new economy
• Workforce diversity

  Composition of a workforce in terms of differences among the members
• Diversity Bias can still be a limiting factor in many work settings
• Prejudice

  Display of negative, irrational attitudes toward women or minorities
• Discrimination

  Actively denies women and minorities the full benefits of organizational benefits
• Glass ceiling effect

  Invisible barrier limiting career advancement of women and minorities
• Ethics

  Code of moral principles that sets standards of what is good and right as opposed to bad or wrong in the conduct of a person or group
• Society is becoming strict in requiring businesses and other social institutions to operate according to high moral standards
• Corporate Governance

  Active oversight of management decisions and company actions by board of directors
• Technology

  An indispensable part of everyday operations
• Organization

  Collection of people working together to achieve a common purpose
• Broad purpose of organizations is providing useful goods or services
• Open system

  Interact with the environment in the continual process of transforming resource inputs into product outputs
• Feedback

  Tells how well an organization is doing
• Value

  Created when an organization's resources are utilized in the right way, at the right time, and at minimum cost to create high-quality goods and services
• Productivity

  Common measure of overall performance; the quantity & quality of work performance, relative to resources used
• Performance effectiveness

  Output measure of task or goal accomplishment
• Performance efficiency

  Measure of the resource costs associated with goal accomplishment
• Cost of labor

  Common efficiency measure
• Total Quality Management (TQM)

  Managing with an organization-wide commitment to continuous improvement and meeting customer needs completely
• Managers

  • Top Managers (CEO, President)
  • Middle Managers (project manager)
  • Team Leader or Supervisor
  • Line Managers
  • Staff Managers
  • Functional Managers
  • General Managers
  • Administrator
• Top Managers (CEO, President)

  • Responsible for the performance of an organization as a whole or for one of its larger parts, STRATEGIC THINKERS
• Middle Managers (project manager)

  • In charge of large departments or divisions consisting of several smaller work units, coordinate complex projects with task deadlines while working with many people within and outside the organization
• Accountability

  Requirement of one person to answer to a higher authority for performance results achieved in his or her area of work responsibility
• Quality of Work Life

  Indicator of the overall quality of human experiences in the workplace
• Value-added Worker

  Someone who creates eventual value for the organization's customers
• Management Functions

  • Planning
  • Organizing
  • Leading
  • Controlling
• Planning

  Process of setting performance objectives and determining what actions should be taken to accomplish them
• Organizing

  Process of assigning tasks, allocating resources, and coordinating the activities of individuals and groups to implement plans
• Leading

  Process of arousing people's enthusiasm to work hard and inspiring their efforts to fulfill plans and accomplish objectives
• Controlling

  Process of measuring work performance, comparing results to objectives, & taking corrective action as needed
• Managerial Roles

  • Informational Roles
  • Interpersonal roles
  • Decisional Roles
• Agenda setting


  Through this, good managers develop action priorities that include goals and plans spanning long- and short-time frames
• Networking


  The process of building and maintaining positive relationships with people
• Lifelong learning

  The process of continuously learning from our daily experiences and opportunities
• Skill

  Ability to translate knowledge into action that results in desired performance
• Essential Managerial Skills

  • Technical Skill
  • Human Skill
  • Conceptual Skill
• Technical Skill

  Ability to use a special proficiency or expertise to perform tasks