...Internal and External Factors Paper J.Simpson; Eileen Reyes; Kevin Fears; Ashley Brown; Brittany Team A University of Phoenix MGT/230- Steven Friloux November 23, 2015 Internal and External Factors Paper Introduction The four management functions are influenced by internal and external factors. In our learning team’s paper, we will discuss some of the factors that affect the functions of management in a global environment. From internal factors, such as leadership styles and company procedures, to external factors like political and economic risks, it is obvious that delicately managing employees, in order to affectively address those functions, is of utmost importance. Explain how internal and external factors affect the four functions of management (planning, organizing, leading, and controlling). Internal factors are factors that affect the workings inside the business like accounting functions, leadership style, management changes, and procedures on how the business operates. Internal factors are important to how you run a business. The basic universal language are the accounting principles. You must understand the function of this to know how to run the business. A company’s leadership style impacts organizational culture. Leaders have to be able to communicate effectively. Also, the strength of the employees is an important internal factor. Hard-working and talented workers produce better results for a business. Procedures deal with how you execute...
Words: 1470 - Pages: 6
...External/Internal Factors-Target Learning Team A MGT/330 June 11, 2012 William Roman External/Internal Factors-Target 2 External/Internal Factors-Target At Target, a well-known corporation that offers a variety of high-quality products to a broad range of consumers, there is much going on behind the scenes. Target’s mission statement, “Our mission is to make Target the preferred shopping destination for our guests by delivering outstanding value, continuous innovation and an exceptional guest experience by consistently fulfilling our Expect More. Pay Less. ® brand promise,” reflects the internal and external factors that affect the four functions of management, the impact of other factors on these functions, and delegation through management (Target Brands, Inc, 2012). Target is an organization that believes in embracing diversity, giving back to the community, and incorporating its positive morals, values, and ethics into its business, and these principles apply to the four functions of management within the organization- planning, organizing, leading, and controlling (Bateman & Snell, 2009, Chapter 4). Target uses these functions to determine which goals are accomplished and how the available resources strive to achieve these goals (Bateman & Snell, 2009, Chapter 4). The main internal and external factors that influence these functions of management at Target are human resources, marketing, operations, stakeholders, technologies, and industry...
Words: 1574 - Pages: 7
...External/Internal Factors Paper Yolonda Washington, MGT/330 July 20, 2011 Tom Vincent External/Internal Factors Paper In our economy various external and internal factors affect the four functions of management. The four functions as discussed are planning, leading, organizing, and controlling. After reviewing the four functions the first functions is planning, and it is considered to be the main function for the business. “Planning communicates strategic value for the business; leading gives the employee’s motivation to do something good for the company and themselves, organizing develops the central point for the company and gives a more concrete way of building on dynamics, and controlling develops the center point for the company and how changes may come” (Bateman & Snell, 2009). The external function focuses on the market, social contact, HR, other competitors and many more external functions on the outside of the company. Another focus that may be important is supply and demand according to (Bateman & Snell, 2009). After analyzing the external function it has a major impact on all four functions for the company. Planning can become vital for the company when implementing new structures. Organizing can become more complex when adapting to innovative changes for the business. Controlling can become more contingent on the business for changing external factors and amend new management technology. However, the leading functions can help motivate externally...
Words: 329 - Pages: 2
...Internal and External Factors Trina C. Humphrey May 22, 2015. Management Theory and Practice XMGT/230 Craig Fowler In management there are four functions that managers must follow in order for the workforce too be able to produce products or services. The four functions are planning, organizing, leading and controlling. In the planning function management makes decisions about the goals and functions of an individual, a department, or a work unit. Organizing function coordinates human, financial, physical, information and other needed resources to obtain a common goal. Leading is motivating people to do the best job they can do. Leading helps to inspire the team to work towards organizational goals. Internal and external factors such as decision- making affects management are greatly influenced by the four management functions. The external and internal factors can be influenced by all four functions of the organization are required to make sure that they are properly addressing all functions in order to achieve its goals and meet targets for the success of the business. Competition is consist changing managers must take into account people and business around the world. Globalization, technology, innovation, diversity, and ethics require strategic planning in every aspect of management. Globalization is growth on a worldwide level. It is the process of integration and international influence. An example of this was when Airgas, opened...
Words: 940 - Pages: 4
...Internal and External Factors Paper Internal and External Factors Paper When becoming a manager of an organization, regardless of the type of organization, there is quite a bit of information that needs to be required by the manager. Taking a look at an organization that I believe everyone is familiar with, fast food chains such as McDonalds; this is a fast paced environment and requires quick thinking and previous management skills. If a manager is hired onto McDonald’s work team and has not had any previous training or does not have any management skills, say for instance there is a small disaster within the establishment, this person is not going to know how to act or handle the disaster which could potentially spiral into an even larger problem. This is an example of how well the internal factors are within an establishment. It is very important for an establishment to have all four functions of management in place. “The major four function of management involve planning, controlling, organizing and leading. These functions can be affected by the internal and external factors in a business environment ("External and Internal Factors", n.d.).” “The internal and external factors which have influenced organizational functions in a lot of ways are ethics, diversity, innovation, technology and globalization, which have significant impact on laying out organizational functions, and can have a great impact on the organization's well. The four functions of the organization...
Words: 1439 - Pages: 6
...Internal and External Factors D. Rams XMGT/230 8/10/2015 Beverly Williams Internal and External Factors There are four functions of management; planning, organizing, leading and controlling. Planning happens within these functions and helps to deliver strategic value to a business. Organizing builds a dynamic business, and leading helps to mobilize employees. Controlling is a part of learning and changing as a business grows and expands. All four of these functions are necessary and are key factors to having effective management. Internal and external factors influence the decision-making process, which therefore affects management. Competitive landscapes are constantly changing, so managers must consider businesses and people from around the world. Globalization, innovation, technology, diversity, and ethics require comprehensive planning, and are essential in every aspect of management. One such organization is Apple, who uses strategic planning and organizational tools to successfully manage and market technology. Globalization is an external, driving factor that has a major impact on the way managers run businesses. It is the result of a notable increase in cross-border trade, cultural exchange, investments, emergent economies and population growth (New World Encyclopedias, 2008). Globalization affects the four functions of management directly, or directly affects the core competencies...
Words: 1485 - Pages: 6
...Internal and External Factors Latonia Parker MGT/230 April 13, 2015 Kensinger Internal and External Factors Planning, organizing, controlling and leadings are the four main functions of management, which are affected by internal and external factors. Internal factors are business events that happen within the corporations while external factors are business events are carried outside the actual corporation. Planning involves setting goals and outlines for the direction of the company. Organization happens as the company goes about achieving these goals that were planned. Leading is important to management because leaders are needed for success. The leaders of the company must train and motivate employees to reach the company goals. Controlling plays a major roll by having a say in the direction your company goes. Other factors that affect the four main functions of management are globalization, technology, diversity, innovation, and ethics. These factors affect the four functions of management by influencing the decision making process that occurs within management. Globalization Globalization is an external factor because this event takes place outside the actual corporation. This event is described as the spreading of businesses and technology throughout the world. For example, The Coca-Cola Company began in the state of Georgia. Since its introductions to the world in 1886, Coca-Cola has expanded and coke products are now in over 200 countries...
Words: 1040 - Pages: 5
...Internal and external affects the four functions of management Sherron Morrison, Jose Garcia, Melton Horne, James Gatson, Marisa Doporto MGT/230 April 30, 2014 Professor Mario Madrid Internal and external affects the four functions of management Introduction How does the human body operate? That is a complex question, because the human body responds differently due to internal and external factors. These same rules apply to management. The factors that affect management are planning, organizing, leading, and controlling. There are many moving parts and all of these pieces must work cohesively together for an organization, or body to exist. Management ensures that each branch is functioning properly or making the necessary changes to increase productivity. Throughout history, many organizations had to adapt to these internal and external factors due to globalization, technology, innovations, diversity, and ethics. An idea starts as a seed and that seed grows into a tree. Just as a tree, the idea branches out as it ages. The same theory applies when it comes to globalization. One would hope that his or her idea would multiply and flourish. To do so, one must properly plan for the proposed growth that they hope to attain. This feat requires organization of the internal resources to ensure stabilization of future growth. Just as the tree grows taller, it also grows wider to support the addition weight. The internal leadership must oversee and forecast the addition...
Words: 1537 - Pages: 7
...Internal & External Factors Paper Osvaldo Lopez MGT/230 06/17/2015 Tricia Stewart Internal & External Factors All successful organizations are affected by internal and external factors. These internal and external factors have an impact on the organizations four functions of management. The organizations that better adapt to these factors are the organizations that are the most successful, the more profitable and the companies that have will be around for a long time. AT&T is a company that has been around since the 1800’s and has been able to adapt to these internal and external factors that in a lot of cases affect the four functions of management, which are planning, organizing, leading and controlling. One of the four functions of management is the planning stage, which is setting up short term and long-term goals. Historically as the book states this is the time were executives set up business plans for other in the company to follow. Internal factors that can affect this stage can be budget restrictions. AT&T can also be affected by laws and regulation, which can persuade the planning stage to go in a different direction. The planning stage is an integral part in a company given that is giving us the future outlook of the company. The next function of management is organizing. This is the stage where all of the company’s goals are separated and assemble in a way for each department or individual can do their part to achieve their goal...
Words: 1176 - Pages: 5
...Internal and External Factors Paper MGT/230 October 12, 2015 INTERNAL AND EXTERNAL FACTORS PAPER The purpose of this essay is to explain how both internal and external factors affect the four functions of management. And how those factors also affect the organization of Verizon wireless Level One Heading The major four functions of management includes planning, controlling, organizing, and leading. These four functions could be affected by both internal and external factors in any business environment. Planning in management is systematically making decisions based on goals and activities that will be pursued by an individual. Controlling in management is the Monitoring performance and making changes. Organizing in management is assembling and coordinating human, financial, physical, information, and other resources needed to achieve goals. Leading in management involves the manager’s efforts to stimulate the high performance by employees. The external forces that affect the four functions of a business in management includes political, economic, technological, and sociological. Sociological is the demographics status in which helps management to plan for the future and design products for different aspects of people. Political and Economic includes all essential factors such as competitors and suppliers and customers as well this allows them to study their suppliers and competitors. Technology has a big effect on businesses, and...
Words: 1056 - Pages: 5
...Internal and External Factors MGT/230 Internal and External Factors The four functions of management are planning, organizing, leading and controlling. First, planning helps a company accomplish strategic goals. Second, organizing makes a company or business more productive. Third, leading includes communicating and encouraging employees and getting to know them on an interpersonal level. Fourth, controlling is used to change an organization and help it grow. All four functions are essential to management and can be influenced by internal and external factors. Internal factors consist of culture, employee relation, rules and other things within the business. External factors consist of competitors, customers, and laws outside the company. Globalization, technology, innovation, diversity and ethics are crucial in every part of management. In this paper, I will explain how the four functions and internal and external factors affect Apple. I will also give a concrete example of how the four functions are influenced by globalization, technology, innovation, diversity, and ethics. Globalization is an external factor because it consists of things outside of the business walls. Globalization connects businesses around the world (Dictionary.com). Globalization allows businesses of any kind or size here in the United States to connect with the foreign business. Globalization changes the way managers plan. They now must consider a global market to get the best and cheapest product...
Words: 1287 - Pages: 6
...External/Internal Factors MGT/330 March 26, 2012 Jack Adamchik Abstract In this paper we will analyze the functions of management at Facebook. Examining the four management functions (planning, organizing, leading, and controlling) and in what way the functions are shaped by internal and external factors. How do technology, innovation, globalization, ethics, and diversity impact each of the functions of management? Finally an explanation of how delegation is used by individuals in the managerial position in the function of management. These are the questions that are going to be answered in this paper. External/Internal Factors Every business follows the four functions of management. These four functions in conjunction with internal and external factors can cause a business to be successful or cause a business to be a failure. There are a variety of internal and external factors that a business considers in its daily operations. These factors are extremely useful when considering the future projections of a business. Facebook is an organization that uses the SWOT analysis once the internal and external factors are determined. This type of analysis will help executives formulate strategy for the organization and aid in future projections of the organization. Internal and external factors shape the four functions of management in the SWOT Analysis in Facebook. This plan is a strategic planning implemented so that an evaluation can be made of the assets...
Words: 1623 - Pages: 7
...management skills to not only run a successful business, but a prosperous life as well. Frequently, individuals think of managers as the front-runners of the companies and organizations. Nevertheless, strong management and leadership go far beyond being profitable and widely recognized. Organizations develop a number of assets in to achieve effectiveness and to reach set goals and ideas. Internal and external factors affect the four functions of management and if approached productively can lead to a productive outcome. Four Functions of Management The four functions of management are planning, organizing, leading, and controlling (Bateman, 2011). Planning is fairly self-explanatory. Leaders must conclude what the objective is and how to accomplish it. Organizing is the act of conjoining the right combination of people and assets to attain the set goal. Leading includes stimulating members of the business to want to encounter the goal and to do so in both an appropriate and a profitable way. Lastly, controlling is the ongoing performance of studying the outcomes, keeping what works, and eliminating what is not working to successfully meet and possibly exceed the organization’s specified goals. Internal and External Factors The four functions of management significantly affect both internal and external factors. Internal factors are those that deal with the establishment...
Words: 2044 - Pages: 9
...Internal and External Factors MGT/230 Internal and External Factors Introduction To be successful organizations rely on the four functions of management: plan, organize, lead, and control. However, implementing these functions is not easy when other factors come into play. External and internal factors such as, globalization, technology, innovation, diversity and ethics all affect the four functions of management. If an organization wants to be successful they must adapt to these different factors. One company that has been able to do so is Starbucks Corporation. The adaptation and utilization of these many different internal and external factors has helped to make the company very successful. Globalization Globalization is the integration and exchange of worldwide cultures and resources. “Corporations operate worldwide, transcending national borders” (Bateman, & Snell, (2011), pp. 4). Advancement technology has led to advances of transportation and telecommunication, and these advances have led to connections and interactions between people that may not have encountered each other. Globalization has also led to an increase of available resources to companies around the world. When it come to the four functions of management and how globalization affects them, an organization must plan a companies goals and mission according to whether or not they want to globalize, export or import, then they must organize their company and departments to help implement...
Words: 2004 - Pages: 9
...Wal-Mart’s Internal and External Factors Jessica Kiernan MGT/230 May 26, 2014 Terrell Kennard There are many ways that internal and external factors affect the four functions of business. The four functions of business are planning, organizing, leading, and controlling. All functions are vital when running any successful organization and should be taken into account at all times. Globalization, technology, innovation, diversity, and ethics are some examples of the different types of factors that could affect these functions of management. Although they can affect them in different ways, they are all factors that have a certain standpoint in the business world. Successful strategic management depends on an accurate and thorough evaluation of the competitive environment to include the resources, the competitive market, and a product line that will meet the needs of the people where a new warehouse will be constructed (Bateman & Snell, 2011). However, external factors do exist such as potential growth of the industry, major competitors, social issues that could affect the industry, labor issues, technological needs, and economic factors. With this in mind, Wal-Mart believes that being the first U.S. retailer of these markets will give them a competitive advantage over the next decade because by the time the rivals enter the overseas markets, Wal-Mart will already have established a good presence and understanding of the culture and shopping needs...
Words: 1560 - Pages: 7
