GMS 200 - Chapter 1 Latest Update Already Passed

GMS 200 - Chapter 1 Latest Update Already Passed Talent Crucial foundation for organizational performance Intellectual capital the collective brainpower or shared knowledge of a workforce Competency personal talents/job related capabilities Commitment How hard you work to apply talents and capabilities competency x commitment intellectual capital equation Knowledge workers employees whose main contribution to the organization is specialized knowledge Tech IQ the ability to use technology and to stay updated as technology continues to evolve Globalization the worldwide interdependence of resource flows, product markets, and business competition job migration occurs when global outsourcing shifts jobs from one country to another Reshoring move manufacturing jobs back from foreign to domestic locations due to increased overseas manufacturing costs and lack of security Ethics the principles of right and wrong that guide an individual in making decisions Corporate Governance The active oversight of management decisions, corporate strategy and financial reporting by the Board of Directors. This is also an indicator of ethics. workforce diversity The ways in which people in a workforce are different from each other in terms of gender, age, race, ethnicity, religion, sexual orientation, and able-bodiedness Diversity bias prejudice, discrimination, glass ceiling effect glass ceiling effect an invisible barrier limiting career advancement of women and minorities Connections/networking Important aspect of finding a job Shamrock (3-leaf clover) Organization 3 types of workers (leaves of the clover) 1. Full-time permanent employees 2. Freelancers and independent contractors offering specialized skills to many employers 3. Temporary part-time workers free-agent economy people change jobs more often, and many work on independent contracts with a shifting mix of employers self-management the ability