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What is the “New Economy”

What is the “New Economy”. Highly competitive global economy = opportunity and uncertainty. Challenges of working in the New Economy. 1. Intellectual capital: Shared knowledge of an entire workforce Example:

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What is the “New Economy”

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  1. What is the “New Economy” • Highly competitive global economy = opportunity and uncertainty Schermerhorn - Chapter 1

  2. Challenges of working in the New Economy 1. Intellectual capital: • Shared knowledge of an entire workforce Example: • A knowledge worker adds significantly to the intellectual capital of an organization Example: Schermerhorn - Chapter 1

  3. Challenges of working in the New Economy 2. Globalization: • Worldwide interdependence of resources, markets, and competition. • Example: Schermerhorn - Chapter 1

  4. Challenges of working in the New Economy 3. Technology • Transforming workplace through: • The Internet • Computers • “The office without walls” • Increasing demand for knowledge workers with the technological skills Schermerhorn - Chapter 1

  5. Challenges of working in the New Economy 4. Diversity • Changing demographics • Multicultural workforce • Impact on employers? • Workforce Diversity: differences in race, gender, age, ethnicity, able-bodiness, religion and sexual orientation in the workplace Schermerhorn - Chapter 1

  6. Challenges of working in the New Economy • Problems surrounding diversity: • Prejudice: negative attitude towards minorities • Discrimination: denying minorities equal opportunity • Glass ceiling effect: invisible barrier to minorities, usually women Schermerhorn - Chapter 1

  7. Challenges of working in the New Economy 5. Ethical expectations • Protection of the environment • Examples? • Product safety • Examples? Schermerhorn - Chapter 1

  8. Challenges of working in the New Economy 6. Careers • Be a “free agent” – gain portable skills, maintain value Schermerhorn - Chapter 1

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