...Internal and External Factor Paper MGT 230 September 21, 2015 Jack Geer Internal and External Factor Paper The four functions of managements is planning, organizing, leading, and controlling one’s organization. These functions should be used by managers to be more efficient in “achieving goals with minimal waste of resources.” (Management, Pg. 15) All four functions of management are key elements to be effective as a manager. Planning is described by “specifying the goals to be achieved and deciding in advance the appropriate actions needed to achieve those goals.” (Management, Pg. 15) A manager should have a plan before implicating any decision making. When a manager makes a plan, they can re-evaluate the plan and make any adjustments to the plan where they seem fit. Planning helps deliver strategic value within an organization or business. Organizing is described as “assembling and coordinating the human, financial, physical, informational, and other resources needed to achieve goals.” (Management, Pg. 15) After a manager has implicated a plan, they would then want to organize the plan by delegating authority, assigning work and providing direction to the employees. Controlling is described by “monitoring performance and implementing necessary changes.” (Management, Pg. 15) After a goal has been completed, the manager may monitor the performance by employee that may include, but not limited to, monetary goals, reducing customer complaints...
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...Labor Laws and Unions Walmart is one of the biggest retail stores in the world. Walmart operates worldwide with current total count of its stores reaching 9.667 stores worldwide (Walmart Corporate, 2011). Interestingly, Walmart is an organization that is currently non-unionized. This paper will provide brief background information on Walmart organization. Legal issues and obstacles that Walmart could encounter will also be identified. The writer will determine which federal, state, or local laws could be broken because of the legal issues and why. Finally, recommendations to minimize possible litigation will be provided. The second part of the paper will deal with scenario if Walmart joining a union. Effects of the union on Walmart will be discussed next on the paper. Organization’s benefits of joining a union will be analyzed. Process of unionization will be discussed. And ways on how a union bargains and its effects on Walmart will be considered. Walmart’s Background Walmart begins in 1962 along with other retail stores such as Kmart and Target. Walmart has a humble beginning, with its owner Sam Walton put up 95 percent of their money to open the first Walmart stores in Rogers, Arkansas. Walmart finally goes public ten years later in 1972 which brings more capital to the organization. Walmart starts booming in the 1980s, where in the period of 10 years, sales grow from $ 1 billion in 1980s to $26 billion in 1989. In 21st century, Walmart is serving more than 176 million...
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...company becoming incorporated in 1969 that has led to stores opening in the nation and globally. Celebrating 50 years of helping communities and customers, Wal-Mart has more than 10,000 stores in at least 27 countries (History Timeline, 2012). Sam Walton has proven successful management using the four functions of management to grow his business. The four functions include planning, organizing, leading, and controlling. Wal-Mart's success in various levels of management has led to multidivisional structures. Wal-Mart has 13 divisions of strategic management that offers traditional functional areas and geographic areas in the retail operation. The purpose of this paper is to explain how internal and external factors affect the four functions of management in the Wal-Mart Corporation. For any organization to survive, irrespective of its size, it must develop and implement its own management concept. Management is the process of working with people and resources to accomplish organizational goals (Bateman & Snell, 2011). The four traditional functions of management include planning, organizing, leading, and controlling. The Wal-Mart Corporation has managed to use the internal and external factors of these functions to...
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...ORGANIZATIONAL ASSESSMENT Organizational Assessment Sherry Crowe MGT416 Operations Management A02 Dr. Carson March 19, 2014 Argosy University The Wal-Mart Corporation On May 9, 1950, Sam Walton opened up Walton’s 5&10 in Bentonville, Arkansas. The first store with the Wal-Mart name, opened in Rogers, Arkansas in 1962 and was financed 95% by Sam Walton himself. Since its beginning in Arkansas, Walmart has helped millions to save money and live better. Walmart has changed from being a retail store accessible with set hours to be available anytime and anywhere for their 245 million customers. Walmart offer its 245 million customers retail shopping in 11,000 stores under 69 banners in 27 countries and e-commerce websites in 10 countries (Wal-Mart Stores, Inc., 2013). The company is considered one of the largest employers in the world; Walmart employs 2.2 million associates worldwide. In the U. S., Walmart Supercenters, Neighborhood Markets, and Sam's Club warehouses comprise the choices of Walmart stores to which customers have access (Wal-Mart Stores, Inc., 2013). As Walmart continues growing successfully the corporation has experienced global success, which has led the corporation to be in constant of change of strategies that provide that the corporation continues fulfilling its mission while offering new products, bettering the human resource management and developing its personnel, and expanding its social responsibility by helping the different communities where stores...
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...1 Internal and External Factors Of Walmart Quashada Rogers MGT/230 11/17/2014 Dick Hobbs 2 INTRODUCTION Management is a vital instrument for the success of any corporation. In any company, it is the duty of management to organize events and use all available materials/resources to meet precise needs and objectives while complying to company policies. Managers are and play an important role in any corporation; giving it formation and providing a uniformed line of correspondence necessary to sustaining operations. Diversity and ethics play a huge role in a corporation as it takes the different aspects of a corporation and display the values used for decision-making. There are many different factors that affects all management functions but when used properly by an corporation it will help stay ahead of its rivals. Using Walmart, a multi-billion dollar department store, as an example, the following will give an explanation of how internal and external factors like technology, globalization, innovation, ethics and diversity affect the four functions of management. External/Internal Factors The four functions of management (organizing, leading, planning and controlling) and the way they’re affected by internal and external factors effects the way that management makes determinations...
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...purpose of this paper is to provide an explanation of why the three types of goals are important to the strategy of an organization. Additionally, this paper provides an explanation of why the different types of planning are important to the strategy of an organization. Finally, highlights of the elements involved in creating an effective strategy for an organization is also provided. There are three types of goals important to the strategy of an organization. These goals include strategic goals, tactical goals, and operational goals. Strategic goals are essentially goals that focus on the overall operational objective and are typical set for and by senior management (Kinicki and Williams, 2016). An example of a strategic goal from a Fortune 500 company such as Walmart, and is clear in their mission statement, “We save people money so they can live better” (Walmart, 2015). Strategic goal planning is of vital importance to an organization because it defines the objective so that tactical and operational goals can be established. From a tactical goals perspective, these goals focus on the required actions necessary to achieve the desired goal. The tactical goals are not only set by middle management, but they are also used by middle management (Kinicki and Williams, 2016). An example of a tactical goal also using the Fortune 500 Company, Walmart, would be to look at the objective, to save people money so they can live better. From a tactical perspective, Walmart middle managers...
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...Control Mechanisms of Walmart Corporation Companies all across the world use control mechanisms to achieve and monitor the success of the organization. If a company has planned poorly the goals, objectives, or a disagreeing management, the likelihood of the company surviving for any length of time becomes slim and considered an out-of-control company. Managers today must control their people, inventories, quality, and costs, to mention just a few of their responsibilities (Bateman & Snell, 2009). The three broad strategies for achieving organizational controls consist of bureaucratic control, market control, and clan control (Bateman & Snell, 2009). When planning for these controls managers follow four steps for each: setting performance standards, measuring performance, comparing performance against the standards, and determining deviations, along with taking actions to correct problems and reinforce success. The paper will focus on the control mechanisms of Walmart Corporation and how the mechanisms compare and contrast from others, their effectiveness, positive and negative reactions, and how each affect the four functions of management. Walmart Corporation Walmart serves more than 200 million customers and members throughout their 8,650 retail units between the companies 55 operating banners in 15 countries on a weekly basis (Walmart, 2010). With sales in 2010 of over $405 billion, employing more than Two million associates worldwide, and receiving the title of 2010s...
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...Inventory Management Name Professor Operations Management March 4, 2014 Abstract In this paper I will present the different characteristics of inventory management and how it relates to two supply chains I have selected. My goal is to show how inventory has an effect on operations, customer satisfaction, and the efficiency of these companies daily business. The research I have done will speak a little about the transition from the old time consuming tracking to today’s electronic system. I will also provide my ideas of how to improve inventory manager in the future. Service is one of the largest parts of development in business. Being able to provide quality service depends in part on inventory and the management of it. These two very important business elements always lead back to the customer. And this is how I chose the companies I wanted to compare and contrast for this essay. The two service companies I chose are Walmart and Target. As most people know Walmart was founded in 1962 by Sam Walton. When Sam began his business his main focus was small town and low prices. He planned a sneak attack and was able to establish himself as one of the top competitors with big names like Target and Kmart. Target is a division of the Dayton Hudson Corporation and was also started in 1962. With the same goal in mind Target stores were opened to offer the customers quality goods with low prices. These two companies were both started with a similar practice for success but they...
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...Running head: Walmart Information Systems 1 Walmart Information Systems Research Project-Group2 CIS 511 Fall 2011 Amber Slemmons, Brooke Williams, Cheri Evans, Ismael Molina, & Wesley Belz Walmart Information Systems Walmart Information Systems Executive Summary: 2 Walmart, the billion dollar retail giant, has grown significantly over the past five decades, incorporating numerous different types of information systems into their daily operations. The company is well recognized for their innovation when it comes to utilizing the latest technologies and information systems to maximize their profitability. Information systems structures and processes play a critical role in Walmart’s success and today they are bringing that innovative spirit to the market as they move toward full implementation of Radio Frequency Identification (RFID). This technology allows for Walmart’s operations to function efficiently and effectively as they are capable of sending and receiving real time data to the networks. By doing so they are able to communicate the information to the retailer and the product manufactures making it possible for Walmart to remain competitive in the retail industry by properly controlling its inventories. This report will explain how Walmart has utilized several information systems throughout the course of its history such as: point of sale, satellite communication systems, data warehouses, retail link systems, electronic data interchange (EDI), and most recently...
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...Internal and External Factors Paper Wal-Mart is a not only a retail business but an organization that everyone has either heard about or shopped at. As a leading organization, Wal-Mart has employed a total 2.2 million associates around the world, with only 1.3 million hired with in the U.S. (Wal-Mart Stores, Inc., 2014). There are several internal and external factors that affect the four functions of management. As Wal-Mart continues to strive towards success, globalization, technology, innovation, diversity, and ethics are all factors that affect Wal-Mart being one of the largest organizations in the world. Internal Factors Such is the case for every organization that wants to continue to expand and remain lucrative; the core of that company is their management. Management has four very important functions which keep their business and their employees afloat and those are planning, organizing, leading, and controlling. This format that management follows is no different when it comes to Wal-Mart. Wal-Mart is a company that continues to expand at a rapid pace due to the low prices, large availability of items, various services offered, and the customer experience when they come to the store. Inevitably, just like any other company, they will have some internal and external factors which may make certain situations on the job tougher. Examples of internal factors which could affect the job duties of a manager would be employees who do not want to work or are unmotivated...
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...Is the placement of the products going to influence their price? Minjun Yu ECON 4980 Introduction In today’s commodity economy, it is no longer only about manufacturing, transportation, cost, profit, supply, demand, etc. There are many other factors that matters in the sales of the commodity. For many years, retailers have been searching for methods to help them identify ways to improve their merchandise presentation (Ron Larson).One of the methods that retailers used to improve the sales is the display of the products in the aisles. Bezawada has said in his reach that “retailers can benefit substantially by having better placement of items in their aisles,” (Ram Bezawada). Bezawada’s research shows that aisle placements can influence sales across product categories as much as other marketing variables, such as price or how an item is displayed (Jacqueline Ghosen, 2009). According to some researches, changing the allocation of the products will increase the weekly sales by more than 9% (Jacqueline Ghosen, 2009). From all these research, we can see that products placement is one of the most important factor that going to influence retailer’s profits. Putting products in the right place will bring more benefits. In marketing field, there are also some important theories about placement of products. It is called marketing mix which is usually refers to E. Jerome McCarthy's 4P classification for developing an effective marketing strategy. It encompasses product, price, placement...
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...the clear choice an individual makes when deciding his or her future? Is it more beneficial to have nothing but leaders or managers? Can these types of skills mix together to make a productive organization? This paper will cover just those questions and discuss that is more beneficial for an organization such as Target, or are they both needed. Difference between Management and Leadership What is the difference between management and leadership? According to Merriam-Webster’s dictionary a manager is “the conducting or supervising of something (as a business)”, and a leader is “a person that leads.” These are real simple definitions but in the business world are these really what a manager and a leader are? A manager is a person that does just that, they manage a team without clear direction, organization, and little delegation and like to ensure that he or she are in charge. A manager is not as receptive to new ideas and believes that rules and guideline must be followed without deviation. A leader is just about the complete opposite of a manager. A leader is the person that does not like to “shine in the lime light.” They prefer to help others along the way than be recognized for the work. A leader is great at planning, delegating, organizing and selecting those who will be able to lead with him or her. When looking for a leader the best way to judge is by seeing who people gravitate to and who is a true team player. In the Target organization...
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...Wal-Mart Unethical Business Practices - Business Research Paper Wal-Mart, the big giant, the place where a lot of people usually do their shopping for the low prices and the variety of products was founded by Sam Walton. Walton was an entrepreneur with an innovative vision, started his own company and made it into the leader in discount retailing that it is today. In fact, Wal-Mart is considered to be the biggest company in the U.S. and it has stores worldwide. According to PBS, “Wal-Mart employs more people than any other company in the United States outside of the Federal government, yet the majority of its employees with children live below the poverty line.”(www.pbs.org) In addition, Wal-Mart likes to portray itself as a seller of U.S. manufactured goods but in reality the company has products on its shelves made in foreign countries and at questionable workshops. It would seem that Wal-Mart encourages “made in the USA” but it really encourages products made outside the. Corporate Watch: Walmart [pic] In the past 10 years, Wal-Mart has grown to become the largest retailer in the world. As America's largest employer and most successful company, Wal-Mart has tremendous influence. However, the company's business practices have negative impacted its employees throughout the country. Wal-Mart has let American workers down by lowering wages and forcing good paying American jobs overseas. Its leaders have chosen to cut costs and violate labor laws. As a result of these practices...
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...Running head: Organize To Organize or Not to Organize Kim McFerrin Professor Morgan HRM 534 January 26, 2013 ORGANIZE Abstract In 1902, Target’s founder George Dayton opened his first store Dayton Dry Goods Company in Minneapolis, Minnesota. The residents in this community could expect dependable merchandise, fair business practices and a generous spirit of giving from their new store. Mr. Dayton shaped his new store around his personal principals and humanitarian spirit. By 1960, Mr. Dayton entered into mass-market discount and on May 1, 1962 “Tar-zhay” as it’s known by shoppers like me, was born in the twin cities Roseville. Target’s 75 departments would offer customers the best fashions, discounts, quality, prices, and a supermarket. The shopping experience would be fun for the entire family. The store had wide aisles, easy to shop displays, quick checkouts and well- lighted parking lots. The director of publicity with the help of his staff bounced around more than 200 names before they came up with the name and the bulls- eye logo. “As a marksman’s goal is to hit the center of the bulls-eye, the new store would do much of the same in terms of retail goods, services, commitment to the community, price, value, and overall experience.” (Target Corporation, 2013) Target employs more than 365,000 people and has cultivated a reputation as big box discounter offering affordability and style in more than 1,763 locations. Target appeals and attracts younger, educated...
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...A Research Paper on Wal-Mart Management, Leadership and Organizational Culture I. Differentiate Between Management and Leadership At Wal-Mart, management is a mixture of controls and standards with a certain degree of freedom for everyone to be able to test on new things and continue to innovate for improvement. The company has excellent controls and they make the company good. Management strategy is built on teams and the leaders go through the process of working with their team members. Leaders go with the group and after every major operation, they all sit down together to analyze the strengths and improve on the weaknesses of the endeavor. Sam Walton, founder of Wal-Mart, introduced some of the basic concepts of management which were popular with employees until the present. He offered stock options and store discounts to his employees. Walton believed that teams will always do better than individuals hence; he has always tried his best to make his employees happy since happy employees make happy customers and more sales. Another reason is that he believes that the employees would care about the company more when they are a part of it and their success is dependent on the company's success. At Wal-Mart, management encourages their employees to be open to talk and air out their concerns and problems. This is what they call the "open door policy" management style. "Leadership is an organizational role involving establishing a clear vision, communicating...
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