Chapter 1. The Management Process
1. What are the challenges of working in the new economy ?
Work in the new economy is increasingly knowledge based, and intellectual capital is the foundation of organizational performance.
Organization must value the talents of a workforce whose members are increasingly diverse with respect to gender, age, race and ethnicity, able-bodiedness, and lifestyles.
The forces of globalization are bringing increased interdependencies among nations and economies, as customer markets and resource flows create intense business competition.
Ever-present developments in information technology are reshaping organizations, changing the nature of work, and increasing the value of knowledge workers.
Society has high expectations for organization and their members to perform with commitment to high ethical standards and in socially responsible ways.
Careers in the new economy require great personal initiative to build and maintain skill ‘’portofolios’’ that are always up-to-date and valuable in a free agent economy.
For discussion : how is globalization creating career risks and opportunities for today’s college graduates?
2. What are organizations like in the new workplace?
Organizations are collections of people working together to achieve a common purpose.
As open systems, organizations interact with their environments in the process of transforming resources inputs into product and service outputs.
Productivity is a measure of the quantity and quality of work performance, with resource costs taken into account.
High-performing organizations achieve both performance effectiveness in terms if goal acccomplishment, and performance efficiency in terms of resource utilization.
For discussion : is it acceptable to sacrifice performance efficiency for performance effectiveness?
3. Who are the menagers and what do they do?
Managers directly support and facilitate the work efforts of other people in organizations.