BMGT364 exam 1 study guide

BMGT364 exam 1 study guide - BMGT364 Exam1studyguide...

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BMGT364 Exam 1 study guide Lecture notes Information from the slides Article notes Video notes I. Can Americans compete? (Managing for Competitive Advantage) a. Gaps in America: i.Ambition gap 1. Americans have become lazy ii.Numbers gap 1. Aren’t producing enough scientists and technologists 2. Those that are educated here go back home iii. Education gap 1. Companies are outsourcing because they can get higher production rate  outside of the US with non American workers b. Fortune 500 article i. Foreign companies are taking over (IBM, Haier) ii. People believe that it is possible for us to compete, but we could also show a  decline iii. Primary and secondary schools are falling behind 1. Foreign students are educating here and taking their skills back home 2. Good professions are now considered “uncool” iv. Economy shows we aren’t necessarily ready v. Many big businesses are already doing business outside of the US and many  American icons are owned by foreigners 1. Globalization means more opportunity for others a. Companies looking to build more globally than domestically vi.3 main factors 1. Economy is based on information that has to be analyzed, processed,  and moved around 2. Cost of that movement is expensive 3. Turning theory into reality a. Smaller countries are now becoming more dominant because of  their education b. Moving from a world where America was center to a part where  there are now many centers vii. America’s economy is service based 1
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1. 9.6 million jobs could be sent offshore today a. Not all WILL, but they have the potential viii. Some believe that outsourcing is going to become easier 1. Low costs coupled with low risks ix. Can there be economic dominance without technological advancement? 1. Worrisome because technological advance is key x. How to fix this 1. Education a. Students are ahead in 4 th  grade then fall behind in 9 th b. Need to revolutionize schools i. Have the WAY, but not the WILL c. Establish high standards for public schools and make them more  accountable for parents 2. Immigration reform a. More education oriented over family reunification 3. a. infortech infostructure is not the best anymore xi. Problem is the cost 1. American workers are more expensive xii.Good things 1. We have a flexible labor market 2. Most highly developed capital market 3. Culture moves from failure to new ideas xiii. If other countries grow in power, we COULD reap the wealth 1. Greatest challenge: culture that doesn’t value education  c. Managing the new competitive landscape i. Globalization ii. Technological change iii. Importance of knowledge and ideas iv. Collaboration across organizational boundaries
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This note was uploaded on 03/14/2011 for the course BMGT 364 taught by Professor Wellman during the Fall '08 term at Maryland.

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BMGT364 exam 1 study guide - BMGT364 Exam1studyguide...

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