U1 Foundations of Management

Question 1

Reasons for new workplace

Answer 1

intellectual capital
globalization
technology
diversity
ethics
career

Question 2

Intellectual Capital

Answer 2

• collective brainpower or a shared knowledge of a workforce
• comprised of what people know and learn, and what they do with this knowledge is the foundation of organizational performance

Question 3

Knowledge worker

Answer 3

someone whose mind is a critical asset to employers

Question 4

Globalization

Answer 4

worldwide interdependence of resources, products and business competition

Question 5

2007 World’s Largest Economies

Answer 5

1. USA
2. Japan
3. Germany

Question 6

2050 World’s Largest Economies

Answer 6

1. China
2. USA
3. India

Question 7

technology

Answer 7

key factor in new workplaces: allows people to work from virtually any location (office, home, airplace, hotel room, etc.)

Question 8

Workforce Diversity

Answer 8

Describes the difference in gender, race, age ethnicity, disabilities, religion. sexual orientation

Question 9

prejudice

Answer 9

display of negative irrational attitudes towards women or minorities

Question 10

discrimination

Answer 10

actively denies women and minorities the full benefits of organizational membership

Question 11

glass ceiling

Answer 11

an invisible barrier limiting career advancement of women or minorities

Question 12

Ethics

Answer 12

set of moral standards or what is “good”/”right” in one’s behaviour

Question 13

corporate governance

Answer 13

oversight of a company’s management by a board of directors

Question 14

career

Answer 14

• limitless opportunities for upcoming generations
• what/where/how you perform your job will be entirely new
• the worker will create dynamic new workplace