The document summarizes key changes in the modern workforce and business environment. It discusses how the workforce is aging, becoming more diverse and female-dominated. The traditional relationship between employers and employees has shifted to shorter-term arrangements focused on mutual benefit. Managing diversity and promoting inclusion have become important for organizations to tap all employees' potential. Globalization and business cycles also influence managerial decision-making. Innovation requires an organizational culture that supports risk-taking and new ideas from intrapreneurs.

1. Chapter Three The Changing Environment of Management

8. Figure 3.1: The Changing U.S. Workforce, 2002-2012

9. Figure 3.1: The Changing U.S. Workforce, 2002-2012 (cont’d)

10. Figure 3.1: The Changing U.S. Workforce, 2002-2012 (cont’d)

11. Figure 3.1: The Changing U.S. Workforce, 2002-2012 (cont’d)

17. Figure 3.2: Management’s Political Response Continuum

23. Figure 3.3: Business Cycles Affect Managerial Decisions

26. Table 3.1: Science Fiction Is Becoming Reality with These Seven New Technologies

28. Figure 3.4: The Three-Step Innovation Process