Chapter 1: The Dynamic Workplace

BUS105: Chapter 1 Notes: The Dynamic Workplace – Upload a Document to Scribd

Read this document on Scribd: BUS105: Chapter 1 Notes: The Dynamic Workplace

Chapter 1: The Dynamic Workplace WORKING   IN THE ECONOMY What are the challenges of working in the new economy? Today’s turbulent environment challenges everyone to understand and embrace continuous change and developments in a new information-driven and global economy. Work in the new economy is increasingly knowledge based, and people, with their capacity to bring valuable intellectual capital to the workplace, are the ultimate foundation of organizational performance. The forces of globalization are bringing increased interdependencies among nations and economies, as customers markets and resource flows created intense business competition. Ever-present developments in information technology and the continued expansion of the internet are reshaping organizations, changing the nature of work, and increasing the value of knowledge workers. Organizations must value the talents and capabilities of a workforce whose members are increasingly diverse with respect to gender, age, race, and ethnicity, able-bodiness, and lifestyles. Society has high expectations for organizations and their members to perform with commitment to high ethical standards and in socially responsible ways, including protection of the natural environment and human rights. Careers in the new economy require great personal initiative to build and maintain skill “portfolios” that are always up-to-date and valuable to employers challenged by intense competition and the information age. Working in the Economy: DEFINITIONS Intellectual capital: Knowledge worker Globalization Workforce diversity Prejudice Discrimination Glass ceiling effect Ethics Corporate governance The collective brainpower or shared knowledge of a workforce. Is someone whose mind is a critical asset to employers. Is the worldwide interdependence of resources flows, product markets and business competition. Describes difference among workers in gender, race, age, ethnic culture, able bodiness, religious affiliation, and sexual orientation Is the display of negative, irrational attitudes toward women or minorities. Actively denies women and minorities the full benefits of organizational membership. Is an invisible barrier limiting career advancement of women and minorities Set moral standards of what is good and right in ones behavior. Is oversight of a company management by a board of directors.      Joseph Eulo’s College Class Notes: http://mycollegenotes.wordpress.com/ BUS105: Business Management, Chapter 1 pp. 1 ORGANIZATION     IN THE NEW WORKPLACE 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 resource inputs into product outputs. Productivity is a measure of the quantity and quality of work performance, with resources cost taken into account. High performing organizations are both effective, in terms of goal accomplishment, and efficient, in terms of resource utilization. Organizations today emphasize total quality management in a context of technology utilization, empowerment and teamwork, and concern for work-life balance, among other trends. ORGANIZATION IN THE NEW WORKPLACE: DEFINITIONS Organization Open system Productivity Performance effectiveness Performance efficiency Total quality management (TQM) Is a collection of people working together in a division of labor to achieve a common purpose. Transforms resources inputs from the environment into product outputs. Is the quantity and quality of work performance, with resource utilization considered. Is an output measure of task or goal accomplishment. Is an input measure of resource cost associated with goal accomplishment. Is managing with commitment to continuous improvement, product quality, and customer satisfaction.  Joseph Eulo’s College Class Notes: http://mycollegenotes.wordpress.com/ BUS105: Business Management, Chapter 1 pp. 2 MANAGERS   IN THE NEW WORKPLACE Who are the managers and what do they do? Managers directly support and facilitate the work efforts of other people in organizations. Top managers scan the environment, create vision, and emphasize long-term performance goals; middle managers coordinate activities in large departments of divisions; team leaders and supervisors support performance at the team or work-unit level. Functional managers work in specific areas such as finance or marketing; general managers are responsible for larger multifunctional units; administrators are managers in public or nonprofit organizations. Mangers are held accountable for performance results that the manager depends on others persons to accomplish. The upside-down pyramid view of organization shows operating workers at the top serving customers needs while being supported from below by various levels of management. MANAGERS IN THE NEW WORKPLACE: DEFINITIONS A manager Top managers Middle managers Project mangers Team leaders or supervisors Line managers Staff managers Functional mangers General managers An Administrator Accountability Quality of work life Is a person who supports and is responsible for the work of others. Guide the performance of the organization as a whole or of one of its major parts. Oversee the work of large departments or divisions. Coordinate complex projects with task deadlines. Report to middle managers and directly supervise non managerial workers. Directly contribute to the production of the organization’s basic goods or services. Use special technical expertise to advise and support line workers. Are responsible for one area of activity, such as finance, marketing, production, personnel, accounting, or sales. Are responsible for complex multi-functional units. Is a manager in a public or non-profit organization. Is the requirement to show performance results to a supervisor. The overall quality of human experiences in the work place.    Joseph Eulo’s College Class Notes: http://mycollegenotes.wordpress.com/ BUS105: Business Management, Chapter 1 pp. 3 THE MANAGEMENT PROCESS What is the management process?   The management process consists of the four functions of planning, organizing, leading, and controlling. Planning sets the directions; organizing assembles the human and material resources; leading provides the enthusiasm and direction controlling ensures results. Mangers implement the four functions in daily work that is intense and stressful, involving long hours and continuous performance pressures. Managerial success is this demanding context requires the ability to perform well in interpersonal, informational, and decision-making roles. Managerial success also requires the ability to utilize interpersonal networks to accomplish well-selected task agendas. THE MANAGEMENT PROCESS: DEFINITIONS Management Planning Organizing Leading Controlling Is the process of planning, organizing, leading, and controlling the use of resources to accomplish performance goals. Is the process of setting objectives and determining what should be done to accomplish them. Is the process of assigning task, allocating resources, and coordinating work activities. Is the process of arousing enthusiasm and inspiring efforts to achieve goals. Is the process of measuring performance and taking action to ensure desired results.    Joseph Eulo’s College Class Notes: http://mycollegenotes.wordpress.com/ BUS105: Business Management, Chapter 1 pp. 4 LEARNING HOW  TO MANAGE How do you learn the essential managerial skills and competencies? Careers in the new economy demand continual attention to lifelong learning form all aspects of daily experience and job opportunities. Skills considered essential for managers are broadly described as technical—ability to use expertise: human—ability to work well with other people; and conceptual—ability to analyze and solve complex problems. Skills and outcomes considered as foundations for managerial success include communications, teamwork, self-management, leadership, critical thinking, and professionalism. Chapter 1: The Dynamic Workplace: DEFINITIONS Lifelong learning A Skill Technical skill A human skill Emotional Intelligence A conceptual skill A managerial compentancy Continuous learning from daily experiences. Is the ability to translate knowledge into action that results in desire performance. Is the ability to use expertise to perform a task with proficiency. Is the ability to work well in cooperation with other people. Is the abilty to manage ourselves and our relationships effectively. Is the ability to think analytically and solve complex problems. Is a skill-based capability for high performance in a management job.   Joseph Eulo’s College Class Notes: http://mycollegenotes.wordpress.com/ BUS105: Business Management, Chapter 1 pp. 5 CHAPTER ONE SELF-TEST 1. The process of management involves the functions of planning, _________________, leading, and controlling. 2. An effective manager achieves both high-performances results and high levels of __________ among people doing the required work. 3. Performance efficiency is a measure of the __________ associated with task accomplishment. 4. The requirement that a manger answer to higher-level boss for results achieved by a work team is called ___________. 5. Productivity is a measure of the quality and ________________ of worked produces, with resource utilization take into account. 6. __________ managers pay special attention to the external environment, looking for problems and opportunities and finding ways to deal with them. 7. The accounting manager for a local newspaper would be considered a _________manager, whereas the editorial manager would be considered a ________ manager. 8. When a team leader clarifies desired work targets and deadlines for a work team, he or she is fulfilling the management function of ______________. Joseph Eulo’s College Class Notes: http://mycollegenotes.wordpress.com/ BUS105: Business Management, Chapter 1 pp. 6