Chapter 1 – Management
1.1 Working Today:
Intellectual capital: The collective brainpower or shared knowledge of a workforce. It is the package of
intellect, skills, and capabilities that set individuals apart and makes us valuable to employers.
(Intellectual Capital = Competency * Commitment)
Competency: Represents one’s personal talents or job-related capabilities. Competency alone DOES
NOT guarantee success.
Commitment: Represents how hard one works to apply their talents and capabilities to important tasks.
Knowledge Workers: A person whose job involves handling/using information
Seeing as we now live in an age of evolving technology it is important to have a high Tech IQ
Tech IQ: The ability to use current technologies at work and in your personal life, combined with the
commitment to keep updated as tech continues to evolve.
Globalization: The worldwide interdependence of resource flows, product markets and business
competition. Process by which businesses and international organizations develop international
influence/start operating on an international scale.
Job Migration: Shifting jobs from one country to another.
Job migration can greatly affect a local economy, as there is a loss of local jobs that are being
outsourced to other countries.
Reshoring: The shift of manufacturing and jobs back home from overseas.
A firm’s proximity to its customers is once again becoming a strategic asset and competitive
advantage.
Ethics: A code of moral principles that sets standards for conduct that is “good” and “right”, as well as
“bad” and “wrong”.
Currently, ethics is also strongly associated to proper environmental/sustainable practices.
Corporate Governance: The active oversight of top management decisions, corporate strategy and
financial reporting by a company’s board of directors.
Workforce Diversity: The composition of a workforce in terms of gender, age, race, ethnicity, religion,
sexual orientation and able-bodiedness.
Prejudice: (sets the stage for diversity bias) The display of negative, irrational opinions and attitudes
regarding members of diverse populations.
Discrimination: (prejudice becomes active discrimination) When members of some groups are unfairly
treated and denied the full benefits of organizational membership.
, Glass Ceiling Effect: An invisible barrier/ceiling that prevents women and visible minorities from rising to
job jobs.
Free-Agent Economy: People change jobs more often and work on flexible contracts with a shifting mix
of employers over time.
Due to this latter, it is important to maintain and develop these skills
Self-Management: Being able to assess yourself realistically, recognize strengths and weaknesses, make
constructive changes and manage your personal development.
Early Career Survival Skills:
Mastery: Being good at something and being able to contribute real value to your employer.
Networking: Knowing people and getting connected. Networking inside/outside the organization
is essential.
Entrepreneurship: Act as if you are running your OWN business, spotting ideas/opportunities
and pursuing them.
Technology: Embrace technology, stay up to date and fully utilize what is available.
Marketing: Communicate your successes and progress (personal and team)
Renewal: Learn and challenge yourself continuously, always improving for the future.
Social Networking: Media tools such as Facebook, LinkedIn, Instagram, etc. that connect us with other
individuals of similar caliber.
1.1 Working Today:
Intellectual capital: The collective brainpower or shared knowledge of a workforce. It is the package of
intellect, skills, and capabilities that set individuals apart and makes us valuable to employers.
(Intellectual Capital = Competency * Commitment)
Competency: Represents one’s personal talents or job-related capabilities. Competency alone DOES
NOT guarantee success.
Commitment: Represents how hard one works to apply their talents and capabilities to important tasks.
Knowledge Workers: A person whose job involves handling/using information
Seeing as we now live in an age of evolving technology it is important to have a high Tech IQ
Tech IQ: The ability to use current technologies at work and in your personal life, combined with the
commitment to keep updated as tech continues to evolve.
Globalization: The worldwide interdependence of resource flows, product markets and business
competition. Process by which businesses and international organizations develop international
influence/start operating on an international scale.
Job Migration: Shifting jobs from one country to another.
Job migration can greatly affect a local economy, as there is a loss of local jobs that are being
outsourced to other countries.
Reshoring: The shift of manufacturing and jobs back home from overseas.
A firm’s proximity to its customers is once again becoming a strategic asset and competitive
advantage.
Ethics: A code of moral principles that sets standards for conduct that is “good” and “right”, as well as
“bad” and “wrong”.
Currently, ethics is also strongly associated to proper environmental/sustainable practices.
Corporate Governance: The active oversight of top management decisions, corporate strategy and
financial reporting by a company’s board of directors.
Workforce Diversity: The composition of a workforce in terms of gender, age, race, ethnicity, religion,
sexual orientation and able-bodiedness.
Prejudice: (sets the stage for diversity bias) The display of negative, irrational opinions and attitudes
regarding members of diverse populations.
Discrimination: (prejudice becomes active discrimination) When members of some groups are unfairly
treated and denied the full benefits of organizational membership.
, Glass Ceiling Effect: An invisible barrier/ceiling that prevents women and visible minorities from rising to
job jobs.
Free-Agent Economy: People change jobs more often and work on flexible contracts with a shifting mix
of employers over time.
Due to this latter, it is important to maintain and develop these skills
Self-Management: Being able to assess yourself realistically, recognize strengths and weaknesses, make
constructive changes and manage your personal development.
Early Career Survival Skills:
Mastery: Being good at something and being able to contribute real value to your employer.
Networking: Knowing people and getting connected. Networking inside/outside the organization
is essential.
Entrepreneurship: Act as if you are running your OWN business, spotting ideas/opportunities
and pursuing them.
Technology: Embrace technology, stay up to date and fully utilize what is available.
Marketing: Communicate your successes and progress (personal and team)
Renewal: Learn and challenge yourself continuously, always improving for the future.
Social Networking: Media tools such as Facebook, LinkedIn, Instagram, etc. that connect us with other
individuals of similar caliber.
