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This comprehensive review explores the fundamental concepts of management, including the key roles of managers in harnessing intellectual capital and adapting to globalization. It emphasizes the importance of technology and its impact on workplace dynamics, highlighting how online activities and smart devices can create both opportunities and challenges. The discussion extends to workforce diversity and the ethical considerations managers must navigate to foster an inclusive and fair environment. By understanding these elements, future leaders can enhance organizational performance and drive success.
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Quick Review • What is management? • What role does a manager have with intellectual Capital? • What is Globalization and Interdependence? • How is the economy is changing?
Management • The process of planning, organizing, leading, and controlling the use of resources to accomplish performance goals. • Resources: Human, financial, material.
Changes in the economy • Intellectual Capital • Globalization and interdependence • Technology • Diversity • Ethics • Careers
In what ways has technology impacted the workplace? Class Brainstorm
Technology • Increased online activity: ordering supplies, online sales, posting and finding jobs, teleconferencing, email, databases for inventory, Smart phones extending beyond business hours • Increased stress levels of employees
General Impact of technology in the workplace • http://www.youtube.com/watch?v=w7CWgVLTlUA • Smart phones and their impact • http://www.youtube.com/watch?v=vAKpDCfRc1Y • http://www.cbc.ca/player/News/Health/ID/2262173990/?page=2
Importance to Management • Managers have to be able to adapt to the changes in technology to increase business efficiency • Set up workshops to train employees how to use new technology • Make new business relations via the internet • Ability to expand to new markets (international business) • Understand the impact of technology on employees to better manage them.
Diversity • Workforce diversity – Describes differences in gender, race, age, ethnicity, able-bodiness, religious affiliation, and sexual orientation among workers • Increased portions of minorities and immigrants into the workforce • Canadian Human Rights Act aimed to reduce bias (unfairness)
Importance to Management • To be aware of the bias against women and minorities and to create an workplace environment that is fair for all.
Clips • Age discrimination • http://www.cbc.ca/player/News/ID/2271256513/?page=4 • Gender discrimination • http://www.cbc.ca/player/News/ID/2268474010/?page=16
Suppose you are flipping through resumes to look for job applicants. How can you avoid prejudice? Class Answer
Ethics • Set moral standards of what is “good” and “right” in one’s behaviour. • Ethical issues: bribery, harassment, polluting the environment, theft, ignoring Aboriginal land claims, etc. • Corporate governance – oversight of a company’s management by a board of directors (voted by investors) • The consequences of being unethical could affect one person, or man
Can you think of some ethical issues? Class Brainstorm
Importance to Managers • Management must lead by example and confront unethical behaviour immediately • Being unethical or not dealing with unethical behaviour quickly can encourage other employees to also be unethical • Maintaining ethics creates a more comfortable work environment • Ethics creates trust which in turn can improve teamwork and productivity
Careers • May be divided into three groups: Core workers, Contract workers and part-time workers. • Core workers – Full-time employees that follow a traditional career • Contract workers – Hired for their skills until a job is complete • Part-time – Fluctuate with production demands and may be used to find core workers.
Importance to Managers • Allows managers to evaluate the job and decide how to fill a position or complete a job • If core workers are needed, managers need to watch the part-time workers to determine if they are suitable for the company and if they wish to have full-time work
Classwork • Why is it important for managers to adapt to new technology? What are the consequences of failing to adapt? • Explain the difference between prejudice and discrimination. What the glass ceiling effect? As a manager explain ways you can avoid prejudice and discrimination. • How have smart phones created an ethical issue in management? What is your solution? • Being a manager in a Toronto based business, it is extremely important to understand diversity. Explain why? Why is it important to understand other cultures? • List ten examples of how technology has created ethical issues in business. • What are the different career paths? What are the benefits and disadvantages of each? • Ask an adult if they have encountered unethical behaviour in the workplace. How did they react?
Types of Bias • Prejudice – The display of negative attitudes towards women or minorities • Discrimination – actively denies women and minorities the full benefits of the workplace • Glass ceiling effect – an invisible barrier limiting career advancement of women and minorities.
