© 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. Define the term managing diversity, and explain why it is particularly important today. 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

Demographics of the New Workforce It is getting larger, increasingly female, more racially and ethnically diverse, older, and more age-diverse. America’s Education and Workplace Skills Crisis To compete in a global labor market, U.S. workers need a constantly improving, world-class education – but American kids aren’t getting one: US ranks 12 th globally for adults with an Assoc Degree or higher 1/3 of US 4 th graders read at a proficient level or better © 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

Nagging Inequalities in the Workplace Under the Glass Ceiling (subtle barrier to succeed) Women continue to experience a significant gender- wage gap and strong barriers to advancement. Women are demanding more equitable compensation and workplace opportunities. Still earn only 80% of what men do! Ugh! Continuing Pressure for Equal Opportunity Women, minorities, and the physically challenged are all expected to press harder for more employment opportunities. © 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

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 (equal employment opportunity) The moral necessity and commitment in going beyond EEO 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. 5

Diversity Programs Teaching English as a second language Training minorities for management positions Activity recruiting minorities Training managers to embrace diversity Creating mentor programs Enforcing discrimination and harassment policies

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. NAFTA (North American Free Trade Agreement) European Union World Trade Organization All make it easier to create a single economy © 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 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. 8

Promoting Innovation Through Intrapreneurship Intrapreneur An employee who takes personal responsibility for pushing an innovative idea through a large organization Fostering Intrapreneurship Focus on results and teamwork Reward innovation and risk taking Tolerate and learn from mistakes Remain flexible and change-oriented © 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