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15 Cards in this Set

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What are the 3 historical perspectives of the global workplace?
1st wave: Era of nomadic and peasant economies

2nd wave: Urban and industrial way of life - mass production and education

3rd wave: Knowledge economy - computers and the internet
What is Globalization?
It is a process of growing worldwide interconnections. Political boundaries are physically present, but biz and financial boundaries have disappeared.
What are the 4 main characteristics of Globalization?
1. Growing worldwide interconnection
2. Rapid discontinuous change
3. Increased numbers and diversity of participants
4. Growing complexity
What is the difference between Internationalization and Globalization?
Internationalization focuses on relationships between nations (implying political domination), while Globalization means borderless and nationless (no sense of nationality).
What are the 4 major forces of change in world economy?
1. Globalization
2. Technological advancement
3. Digitalization
4. Customization
What are the 3 perspectives of Globalization?
1. Skeptical - History repeats itself; what's important remains the same.
2. Hyperglobalist - Biz as self interested actor; biz conspire to supplant nat'l power; "survival of the fittest" - more pragmatic
3. Transformational - Activities of organizations reflect social responsibility
What is knowledge capital?
Intangible assets (intellectual property, licences, etc) > tangible assets (physical property, plants, etc)
What are the implications for organizations?
Need to be fast, responsive and adaptive:
1. Flatter organizational structure
2. Quality conscious
3. Empowered
4. Smaller units
5. Human capital oriented
6. Boundaryless
7. Values and vision-oriented
8. Team-based
What are the management challenges in a globalized workplace?
1. Greater diversity
2. Greater synchronization requirements
3. Greater time-pacing requirements
4. Faster decision making, learning and innovation
5. Faster newness and obsolescence of knowledge
6. Unpredictable mkts
7. Greater risk of competency traps
8. Faster industry lifecycle
9. Faster newness and obsolescence of organizations
What are the global paradoxes?
1. Network of entrepreneurs
2. Strategic alliances (companies to avoid getting bigger)
3. Think locally, act globally
4. Long term and short term perspectives
5. Competitive and collaborative efforts
6. Control and empowerment
7. Be uprooted and rooted
What is a paradigm?
A systematic set of ideas and values, methods and problem fields, as well as standard solutions, that explain the world and inform action.
Paradigm shifts
Widespread shift of rules, resulting in ambiguity.
Strategies to compete for the future
1. Build competencies for future mkts
2. Create stretch goals to challenge employees
3. Overcome resource constraints through resource leverage
Challenges for the individual
Requires change in mindset:
- able to work effectively in complex and uncertain env
- Be more self-reliant
- Work for reward
- Secure opportunities
Impact on individuals
1. Continuous learning
2. Adaptability
3. Multi-skilled
4. Set priorities and datelines
5. Self-pacing and self-discipline
6. Interpersonal skills and teamwork