The Dynamic New Workplace

1
Chapter 1

• The Dynamic New Workplace

2
Overview of the New Economy

• A highly competitive global economy has created
  unparalleled opportunities and unprecedented
  uncertainties.
• Smart people and smart organizations create their
  own futures.
• Companies with a future are committed to people.
• Companies with a future have high performance
  expectations and provide supportive work
  environments.
• High performing companies gain extraordinary
  results from people.

3
What are the challenges of working in the new
economy?

• Intellectual capital
• People are the the ultimate foundations of
  organizational performance.
• Intellectual capital is the collective brainpower
  or shared knowledge of a workforce that can be
  used to create value.
• A knowledge worker adds to the intellectual
  capital of an organization.

4
What are the challenges of working in the new
economy?

• Globalization
• National boundaries of world business are
  disappearing rapidly.
• Globalization is the worldwide interdependence of
  resource flows, product markets, and business
  competition that characterize the new economy.

5
What are the challenges of working in the new
economy?

• Technology
• Continuing transformation of the modern workplace
  through
• The Internet
• World Wide Web
• Computers
• Information technology
• Increasing demand for knowledge workers with the
  skills to fully utilize technology.

6
What are the challenges of working in the new
economy?

• Diversity
• Changing demographics are making the workforce
  increasingly diverse.
• A diverse and multicultural workforce both
  challenges and offers opportunities to employers.
• Truly valuing diversity is a societal
  responsibility that is not easy to accomplish.

7
What is an organization?

• A group of people working together in a
  structured and coordinated fashion to achieve a
  set of goals.

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What is management?

• A process of achieving desired results through
  the efficient and effective utilization of
  resources.

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Organizational Resources

• Human Resources
• Managerial talent and labor
• Physical Assets or Raw Materials
• Land, buildings, equipment
• Capital ()
• Financial resources or money
• Entrepreneurship/Information
• Willingness to take risks
• Usable data and information linkages

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The Functions of Management

• Planning and Decision Making
• Setting an organizations goals and selecting a
  course of action from a set of alternatives to
  achieve them.
• Organizing
• Determining how activities and resources are to
  be grouped.

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Functions continued

• Leading
• The set of processes used to get members of the
  organization to work together to advance the
  interests of the organization.
• Controlling
• Monitoring the organizations progress towards
  its goals.

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Management as a sciencevs.Management as an art
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Science vs. Art

• Science
• Issues Problems
• Rational
• Logical
• Objective
• Systematic

• Art
• Issues Problems
• Intuition
• Experience
• Instinct
• Personal insights

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3 Major Managerial Roles

• Interpersonal
• Informational
• Decisional

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Interpersonal Role

• How a manager interacts with other people
• Figurehead
• Leader
• Liaison

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Informational Role

• How a manager exchanges and processes information
• Monitor
• Disseminator
• Spokesperson

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Decisional Role

• How a manager uses information in making
  decisions
• Entrepreneur
• Disturbance handler
• Resource allocator
• Negotiator

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Managerial Skills

• Technical
• Interpersonal (Human)
• Conceptual
• Diagnostic
• Communication
• Decision making
• Time management

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The first 3 are Essential Skills

• Technical the ability to apply expertise and
  perform a special task with proficiency
• Human the ability to work well in cooperation
  with others
• Conceptual the ability to think analytically
  and achieve integrative problem solving

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Modern Management Skills

• Moving away from technical skills
• Emphasis is on skill sets
• Why is this so?

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Conclusion

• Please read chapter 2
• We will talk about the history of management.
• Any questions?