1. Schermerhorn - Chapter 11 What is the “New Economy”  Highly competitive global economy = opportunity and uncertainty

2. Schermerhorn - Chapter 12 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:

3. Schermerhorn - Chapter 13 2. Globalization: –Worldwide interdependence of resources, markets, and competition. Example: Challenges of working in the New Economy

4. Schermerhorn - Chapter 14 3. Technology –Transforming workplace through: The Internet Computers “The office without walls” –Increasing demand for knowledge workers with the technological skills Challenges of working in the New Economy

5. Schermerhorn - Chapter 15 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 Challenges of working in the New Economy

6. Schermerhorn - Chapter 16  Problems surrounding diversity: –Prejudice: negative attitude towards minorities –Discrimination: denying minorities equal opportunity –Glass ceiling effect: invisible barrier to minorities, usually women Challenges of working in the New Economy

7. Schermerhorn - Chapter 17 5. Ethical expectations –Protection of the environment Examples? –Product safety Examples? Challenges of working in the New Economy

8. Schermerhorn - Chapter 18 6. Careers –Be a “free agent” – gain portable skills, maintain value Challenges of working in the New Economy