The Changing Environment of Management

The Changing Environment of Management

Chapter Three The Changing Environment of Management 2013 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part. 1 Chapter Objectives Summarize the demographics of the new American workforce. Explain why Americas education and workplace readiness situation is a crisis. Define the term managing diversity, and explain why it is particularly important today. Discuss how the changing political-legal environment is

affecting the practice of management. Discuss why business cycles and the global economy are vital economic considerations for modern managers. Describe the three-step innovation process, and define the term intrapreneur. 2013 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part. 2 The Social Environment Dimensions of the Social Environment Demographics Changes in the statistical profiles of population characteristics

Inequalities Persistent barriers encountered by women, minorities, and others in the workplace Managing diversity Creating organizational cultures that enable all employees to realize their potential 2013 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part. 3 Demographics of the New Workforce It is getting larger, increasingly female, more

racially and ethnically diverse, older, and more age-diverse. Americas Education and Workplace Skills Crisis To compete in a global labor market, U.S. workers need a constantly improving, worldclass education but American kids arent getting one Problems start early and persist throughout the education process 2013 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part. 4 Figure 3.1: The Changing U.S. Workforce: 2008-2018

2013 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part. 5 Figure 3.1: The Changing U.S. Workforce: 2008-2018 (cont) Managing Diversity Managing Diversity The process of creating an organizational culture that provides all employees, including women and minorities, with assistance and opportunities to help them realize their full potential More Than EEO The moral necessity and commitment in going

beyond EEO and affirmative action to create flexible organizations that encompass and value diversity 2013 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part. 7 The Political-Legal Environment Politics is the art (or science) of public influence or control The Politicization of Management Issues management Ongoing process of identifying, evaluating, and responding to important social and political issues Purpose: Minimize surprises and make more

systematic and effective responses to issues General political responses Defending the status quo against all comers Adopting a wait and see approach Proactively trying to identify and respond to issues 2013 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part. 8 The Political-Legal Environment (contd) Specific Political Strategies Campaign financing

Political action committees (PACs) Lobbying Garnering political support Coalition building Common rallying points Indirect lobbying Advocacy advertising 2013 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part. 9

The Economic Environment The Job Outlook in Todays Service Economy, Where Education Counts Service providers are expected to generate 14.5 million jobs between 2008 and 2018. A solid educational foundation and networking skills are especially important in tough economic times. 2013 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part. 10 The Economic Environment

Coping with Business Cycles Up-and-down movement of an economys ability to generate wealth Predictive structure but variable timing Cycle-Sensitive Decisions Timing is everything Stay ahead of the pack Benefiting from Economic Forecasts Use a consensus approach 2013 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part. 11 The Challenge of a Global Economy A Single Global Marketplace Global trade is causing a shift to a single

economy. The size of the global economy has expanded dramatically. Globalization Is Personal A growing trend: Working for a foreign- owned company. Meeting world standards for quality and costs (through lower wages) is necessary to be globally competitive. 2013 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part. 12 The Technological Environment Technology Technology includes all the tools and ideas

available for extending the natural and mental reach of humankind. Technology is facilitating the evolution of the information age. Information has become a valuable strategic resource for gaining competitive advantage. 2013 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part. 13 The Technological Environment (contd) The Innovation Process The systematic and practical application of a new idea Steps in the Innovation Process

Conceptualization: When a new idea occurs to someone Product technology: Creation of a working prototype Production technology: Development of a profitable production process 2013 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part. 14 The Technological Environment (contd) Innovation Lag The time it takes for a new product to be translated into satisfied demand Shortening Innovation Lag Goal setting: Creating a sense of urgency and

purpose Empowerment: Pushing decision-making authority down to the level of the decision Concurrent engineering: Using a team approach to product design involving specialists from all functional areas including research, production, and marketing 2013 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part. 15 Summary The U.S. workforce will continue to become larger, older, more diverse, and more female. Americas education system has major problems at all

levels. The persistence of opportunity and income inequalities (and the glass ceiling) among women and minorities is a strong stimulus for change. Managers are becoming increasingly politicized and more likely to be held personally responsible for their decisions and actions. Managers can make timely decisions during somewhat unpredictable business cycles by taking a consensus approach to economic forecasts. A healthy innovation process is vital to technological 2013 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part. development. An organizational climate that fosters 16 Terms to Understand Demographics

Glass ceiling Contingent workers Managing diversity Issues management Advocacy advertising Legal audit Alternative dispute resolution Business cycle Technology Innovation process Product technology Production technology

Innovation lag Concurrent engineering Intrapreneur 2013 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part. 17

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