...Week 2 Assignment Internal and External Factors XMGT/230 February 16, 2014 Week 2 Assignment Write a 700- to 1,050-word paper in which you explain how internal and external factors affect the four functions of management. Explain how the following internal and external factors affect the four functions of management. Include specific examples for each of the following: • Globalization • Technology • Innovation • Diversity • Ethics Week 2 Assignment Managing a business can be a difficult, but rewarding task. There are internal and external factors that can hinder and improve the experience. For example let’s use B-EZ T.V.s, a manufacturer of televisions. As a business manager for B-EZ T.V.s you have four basic functions; planning, organizing, leading, and controlling. There are many internal and external factors that may affect managing the company. Part of the success of your job will depend on the strength of your employees. Sometimes hiring dependable, hard-working staff can prove challenging, especially when the demographics you need to hire are in short supply. Population growth can greatly affect your ability to hire younger more innovative employees. On the up side of that theory an increase in population can provide an abundance of qualified individuals, as well as an increase in the demand for televisions. Due to economic reasons employees past retirement age may choose to remain in the work place because they cannot afford to...
Words: 844 - Pages: 4
...XMGT 230 Entire Course For more classes visit www.snaptutorial.com XMGT 230 Week 1 DQs XMGT 230 Week 1 CheckPoint Making Decisions XMGT 230 Week 2 Five Factors Paper XMGT 230 Week 3 CheckPoint Types of Plans XMGT 230 Week 3 DQs XMGT 230 Week 4 Individual Management Planning Presentation XMGT 230 Week 6 Individual Organizational Structure Paper XMGT 230 Week 7 DQs XMGT 230 Week 7 CheckPoint Managers versus Leaders XMGT 230 Week 9 Capstone XMGT 230 Week 9 Final Project Leadership Presentation --------------------------------------------------------------- XMGT 230 Week 1 DQ 1 and DQ 2 For more classes visit www.snaptutorial.com DQ 1 What is management? Why is management necessary? How do you think management has evolved? DQ 2 How do the four functions of management affect organizational success? Which function of management do you think is most important? Why? --------------------------------------------------------------------------------- XMGT 230 Week 2 Five Factors Paper For more classes visit www.snaptutorial.com Individual Five Factors Paper Select an organization with which you are familiar. Write a 700- to 1,050-word paper in which you explain how internal and external factors affect the four functions of management. Explain how the following internal and external factors affect the four functions of management. Include specific examples for each one of the following: Globalization Technology Innovation ...
Words: 402 - Pages: 2
...Internal and External Factors Paper XMGT/230 Burger king corporation is well known globally from www.burgerking.com “With more than 12,000 restaurants, our global headquarters allows us to keep the pulse of our franchises, team members and operations. Our campus is designed to handle the ever-changing nature of our industry, while satisfying the needs of our customers and our BK® family.” Burger king has focus on the international and local trade and investment. We will there discuss internal and external factors affect the four functions of management which includes globalization, technology, innovation, diversity and ethics. From http://www.investopedia.com “Globalization is the tendency of investment funds and businesses to move beyond domestic and national markets to other markets around the globe, thereby increasing the interconnectedness of different markets. Globalization has had the effect of markedly increasing not only international trade, but also cultural exchange.” It affects the environment, culture, political systems and human well-being in societies around the world. Burger king is one of the world’s largest fast-food chains and is control by persons who own the franchise. When it comes to the function of management and globalization it can affect the business externally and internally both positively and negatively, when it comes to competition, environment changes and so on. Burger king has been the result of an excellent organization where the four...
Words: 287 - Pages: 2
...Internal and External Factors Debra Cooke XMGT/230 November 10, 2013 Jeffery Day I will explain how internal and external factors affect the four functions of management. The four functions are planning, organizing, leading and controlling. Wal-Mart is one of the largest retailers in the world. Globalization is what has made Wal-Mart one of the biggest retailers. Wal-Mart not only impacts its suppliers and customers, but also the lives of the workers and economies of the countries where they locate. ‘Wal-Mart reaches around the globe, shaping the work and the lives of people who make toys in China, or raise salmon in Chile, or sew shirts in Bangladesh, even though they may have never visited a Wal-Mart store in their lives’(Fishman, 2006). Therefore, Wal-Mart is a company, which has truly been affected by globalization around the world. Wal-Mart has 8500 stores in over 55 countries which include Argentina, Brazil, Canada, China, Costa Rica, El Salvador, Germany, Guatemala, Honduras, Japan, Mexico, Nicaragua, Puerto Rico, South Korea and the United Kingdom. Advancements in transportation, logistics and ICT with the lowering economic barriers has armed retailers such as Wal-Mart to go beyond their saturated home markets and venture across borders to set up stores wherever there is demand from customers and market has potential. The journey of Wal-Mart’s mega spree into the globalization also began with the same factors. However, Wal-Mart was quick enough to make the...
Words: 392 - 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 Kelley Yiannakis XMGT/230 July 20, 2014 Dr. Tia Sheppard Internal and External Factors The process of management is working with people and resources to obtain an effective way to achieve goals. To be able to achieve goals there has to be an effective way with use of minimal waste of resources, and that is to make the best possible use of money, time, materials and people. (Bateman, T. S., & Snell, S. A. (2011). Within the process of management there are four functions planning, organizing, leading and controlling, which have many factors that impact them. The four functions have key components that are external, internal, innovation, globalization, technology, diversity and ethics. The main tool mangers use out of all of the four functions is organization, in order to maintain control you have to have organization. The one thing that affects business today is the economy, you may not be able to make consumers buy a product to improve the economy but you can promote the product to help improve it. The cost of many things have increased over the years especially in the automotive industry, back in 1896 a man by the name of Henry Ford built the first gasoline powered vehicle. In the 19th century the citizens of the United States couldn’t afford a whole lot, let alone an automobile. Over the years since Henry Ford build the first vehicle he worked for the Edison Illuminating Company and planned to open his own manufacturing business. He...
Words: 751 - Pages: 4
...Five Factors August 2, 2015 XMGT/230 Elaine McCarty It is generally understood that there exists four primary functions of management. Those functions are planning, organizing, leading, and controlling. These factors are the most important of the functions that a manager uses in order to complete his or her job. However, simply implementing the use of these factors is not enough to obtain true success as a manager. A truly skilled manager must be able to adjust with changes in that are brought about by various internal and external factors which can have a direct effect on the managerial process. These external and internal factors are unique to each individual company, and thus affect the different managerial factors in different ways. External factors such as competition and and government regulation have the potential to force adjustments in a managing personnel's planning and controlling procedures or processes, so that they are able to remain operational. The same goes for internal affecting factors as well. Growth, company culture, and an overall resistance to change to new ideas leads to adjustments that have to be made by managers with functions such as leading an controlling. Of course, these are not the only factors that can have an effect on the four functions of management. One of the factors that can have an effect on the four factors of the managing process is globalization. Globalization is defined by the Merriam-Webster dictionary is defined...
Words: 1044 - Pages: 5
...Four Functions of Management John Veal XMGT/230 ALLAN BARDOS Within an organization executives develop a structured environment in order to perform and execute task and goals to run a successful business that will generate profit. When doing so, the company will implement four functions that will help in managing a smooth business which are planning, leading, controlling, and organizing. Management is the process of working with people and resources to accomplish organizational goals where managers do this both effectively and efficiently. Although the context of business and the specifics of doing business are changing, there are still plenty of timeless principles that make great managers, and great companies, great. In the business world today and with constant changing, the great executives not only adapt to changing conditions but also apply—fanatically, rigorously, consistently, and with discipline—the fundamental management principles. These fundamentals include the four traditional functions of management as mentioned earlier which remain as relevant as ever, and they still provide the fundamentals that are needed in start-ups as much as in established corporations but their form has evolved. First function of management is planning which is the management function of systematically making decisions about the goals and activities that an individual, a group, a work unit, or the overall organization will pursue. Planning activities include analyzing current situations...
Words: 1041 - Pages: 5
...Success In Business Despite The Factors (Name Here) XMGT/230 March 24, 2013 --Update date Fernando Gutierrez ---Your Instructors Name here Abstract Organizations succeed by exercising the four functions of management: planning, leading, organizing, and controlling. Without these factors the chance for success is almost impossible. Added factors contribute to the nuisance of competing in a global market. Such factors include globalization, technology, innovation, diversity, and ethics. Knowing the internal and external factors as a manager can make the difference between success and failure of a business. Managers should be flexible when making decisions within an organization. Taking the time to weight the pros and cons of a decision can allow planning and implementation of control factors. Ulen (2010) stated, “two vital internal factors for identifying and responding to change are prudent: discernment and flexibility” (para. 8). The organization I have selected...
Words: 1002 - Pages: 5
...Internal and External Factors Brooke Ellington October 13, 2013 University of Phoenix XMGT/230 Sam Walton opened the first Wal-Mart store in Arkansas on July 2, 1962, (Carson, 1999-2013). The vision of Sam Walton for his store Wal-Mart was to provide lower prices and to reflect on the values of the community and the customer. Consumers remember Wal-Mart for its motto "customer satisfaction" and “guaranteed lower prices." Wal-Mart offers employee training for everyone in the store from the greeters to the managers to ensure excellent customer skills and to instill Sam Walton's philosophy in the consumers mind. Wal-Mart's growth leads to the 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...
Words: 1208 - Pages: 5
...Internal and External Factors Holly Yungwirth XMGT/230 May 24, 2015 Craig Fowler The four functions of management; planning, organizing, leading, and controlling can be made or broken depending on the way in which they are ran. Although there are many concepts that can lead to these functions working or falling apart, there are some of the most important; globalization, technology, innovation, diversity, and ethics. Each other these has had a hand in leading the four functions from where they used to be to where they are now. Planning is an important step when it comes to being an effect manager. Globalization is when a company is operating worldwide, planning becomes very important when a company reaches this stage of success. If planning was nonexistent in a company that had achieved globalization, the company would not last much longer. Being able to even reach globalization without effective planning would be extremely difficult. Technology is used effectively with planning when a company is able to communicate the direction they are going in, or any information that they see fit across the internet. Technology has also helped with planning when it comes to smart phones, palm pilots, and other types of digital planners. Innovation helps the planning function by constantly updating the way in which to communicate and save data. The amount that you can save and the privacy that can be enhanced all helps planning in a business setting. Diversity is something...
Words: 1063 - Pages: 5
