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


  Providing useful goods or services
• Quality products and Customer Satisfaction


  • Important sources of organizational strength and performance advantage
• 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


  People in org. who directly support & help activate the work efforts & performance accomplishments of others
• 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
• Informational Roles


  Involve giving, receiving, and analyzing information
• Interpersonal roles


  Involve interactions with people inside and outside the work unit
• Decisional Roles


  Involve using information to make decisions to solve problems or address opportunities
• Agenda setting


  Through this, good managers develop action priorities that in chide 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
• Types of Skills

  • Technical Skill
  • Human Skill
  • Conceptual Skill
• Managerial Competencies

  • Communication
  • Teamwork
  • Self-management
  • Leadership
  • Critical Thinking
  • Professionalism
• Management / Learning Framework


  Introduces management as an academic discipline whose understanding is important for anyone seeking career success in the new workplace