Business Leadership Notes (Working in the 21st Century) PDF

Organization in the new workplace - 1.2 Definition: Collection of people working together to achieve a common goal (profit, giving back to society, non-profit) - Example: school, banks -​ The purpose of any organization is to provide useful goods and/or services that return value to societ...

Organization in the new workplace - 1.2 Definition: Collection of people working together to achieve a common goal (profit, giving back to society, non-profit) - Example: school, banks -​ The purpose of any organization is to provide useful goods and/or services that return value to society and satisfy customer needs in order to justify continued existence. -​ Organization as system: -​ Interrelated parts of the function, put together to achieve a common goal -​ Open systems that interact with their environments -​ Transform resource inputs into product outputs (goods and services) -​ IMPORTANT! -​ The open system is the customer and client feedbacks, since business cannot survive without its customers 1.​ Resources (input) -​ People -​ money -​ Materials 2.​ Organizations creates -​ workflow (transformation process) 3.​ Product (output) -​ finished goods/ services -​ consumer feedback 4.​ Performance -​ “Value-added” - occurs when an organization, through it operations, adds value to the original cost of resources input: -​ Businesses earn profit -​ Nonprofit organizations add wealth to society 5.​ Productivity -​ Measure of the quantity and quality of work performance with resource (utilization taken into account) 6.​ Performance effectiveness -​ Task output or goal accomplishment -​ Doing Things right 7.​ Performance efficiency  -​ Resources costs associated with goal accomplishment -​ Doing the right things 8.​ Belief in human capital -​ Employees knowledge is premium 9.​ Command & Control -​ Traditional structure with a strict boss who barks commands is disappearing 10.​ !!Teamwork!! -​ Talent for creative problem solving 11.​Technology -​ Changes how organizations work -​ Good efficiency and effectiveness 12.​ Speed -​ Everything in hyper-speed today due to technology 13.​ New workforce expectations -​ More informal -​ Attention to performance -​ Social networking 14.​ Concern for work life balance -​ Increased attention to balancing career with personal affairs 15.​ Total quality management (TQM) -​ continuous improvement to meet the customers needs completely 16.​ Critical/ survival skills -​ Mastery: -​ being good at what you do and being able to contribute to your team -​ Contact & Networks: -​ social aspect (links) that helps you get things done -​ Entrepreneurship: -​ bringing forward idea -​ Technology:  -​ being able to use technology effectively -​ Marketing: -​ being able to communicate work progresses and success to your work group -​ Passion for renewal: -​ Learning is a lifelong process -​ It never stops -​ Being up to date with current news