...Internal and External Factors on Management Functions MGT/230 Internal and External Factors on Management Functions The four functions of management are generally described in this order; 1. Planning 2. Organizing 3. Leading 4. Controlling These functions are affected by factors from inside an organization as well as outside of the organization (Bateman, 2011). Some of these external factors include globalization, competitors, suppliers, technology, customers, the government, and economic conditions. Factors inside a company can be production issues, personnel problems, finances, ethics, lack of innovation, and cultural diversity can be either internal or external (Bateman, 2011). The corporate model that Google has demonstrated in the modern era is one that is worth further study. Google’s management style starts with strong leadership and their record of innovation is certainly one of their strengths. Examination of these factors and how they can affect the functions of management will be explored in this paper. The first function of management is planning. When the management of Google was ready to begin planning this meant that they were fully aware of their overall objective. An internal factor to Google was their strength of really understanding their objective because they were internet users and understood how convenient a web-based search engine would be successful. External factor of planning was this opportunity to create Google effectively...
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...Components that Affect Mitchells Fruit Farms Organization's External Environment Generally, The external environment of an organization are those factors outside the company that affect the company's ability to function. Some external elements can be manipulated by company marketing, while others require the organization to make adjustments. Monitor the basic components of company's external environment, and keep a close watch at all times. Customers customers are among the external elements you can attempt to influence, via marketing and strategic release of corporate information. But ultimately, your relationship with company’s clients is based on finding ways to influence them to purchase company’s products. Market research is used to determine the effectiveness of company’s marketing messages, and to decide what changes can be made to future marketing programs to improve sales. Government Government regulations in product development, packaging and shipping play a significant role in the cost of doing business and company’s ability to expand into new markets. If the government places new regulations on how you must package company’s product for shipment, that can increase company’s unit costs and affect company’s profit margins. International laws create processes that company’s company must follow to get your product into foreign markets. Economy As with the majority of the elements of your organization's external environment, your company must be efficient at monitoring...
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...External / Internal Factors Paper Globalization In today's world of technology, Google has been at the forefront in developing the world system. As companies strive to engage in creating new ways to acquire information at a faster pace, Google has been there every step of the way. Google has allowed a diverse group of international companies to advertise their information products services to anyone in the world at the touch of a button. As the rate of globalization gains speed, Google seems to make the world just a little bit smaller. With factories in China and buyers in many countries it is easy for people to survey different products and services that may circle the globe by using Google. The way Google allows people to surf the Internet and view information has changed the way international communities do business. The four functions of management have been used by Google’s management. Planning and organizing structures in all of their business offices create a business model for others to examine, as well as proven success in leading and controlling their many internal issues. Planning and organizing, leading and controlling can be seen by every person who uses the Internet. Whenever logged onto Google their services are well-organized and give the user a massive amount of control to obtain access on just about any type of information possible. As managers and employees and companies around the world do business, it's easy to see that in any form of delegation...
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...Internal and External Factors of Management Internal and external factors can really affect how a business is run or how leadership is accomplished. Management is critical, something that everyone must have in order to accomplish goals and be successful. Controlling, organization, planning, and leadership are four vital things that are needed for an organization to run smoothly. However throughout these functions of management globalization, technology, innovation, diversity, and ethics really play an important role and affect the four functions of management. Every organization whether it is a company or a branch of military service must exercise the functions of management and what it must do to maintain order and accomplish task at hand. Think of the United States military as an example. The United States military is structured with required regulations and standards that must be adhered to in order for it to be an effective global force. Throughout history controlling could be considered the most important of the four functions of management for the armed forces, but, as society has evolved, so has this approach to management and leadership. With Members of the U.S. military working side-by-side with the services of other nations around the world, American military commanders often find themselves in a position of leadership over a very diverse group of nationalities. The way in which this collective assembly of individuals is managed must be adjusted by taking into...
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...functions of management involve planning, controlling, organizing and leading. These functions can be affected by the internal and external factors n a business environment. The external forces that affect the functions of a business include sociological, political, economical and technological Sociological: Includes; the demographic status and trends, work ethics and personal values, and general cultures. This factors influences differently on how management accomplishes its jobs. The social environment presented by each country is unique and as the business becomes international, management s ought to understand these unique environments. This understanding assists the management to plan for the future and design products for particular groups of people. Economic and political: Includes; all the essential factor such as competitors, suppliers and customers in an open model of business the management must study the economy and political environment for a continual and dynamic relationship. In this system the management assumes that the business or company has both input and output. By studying the companies’ suppliers’, competitors and customers as well as current political factors, the management are capable of making effective managerial and decisions. The products designed under this should posses place, form and time utility to succeed in the mark place. Technology: Technology has the most dramatic effect on business as changes in this external environment...
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...Internal and External Factors in Management Lorenita Borrero, Darlene See, Irene Malta, James Ortega MGT/230 June 14, 2012 Devin Daugherty Internal and External Factors in Management British Petroleum is a major world-wide company with a focus on finding energy sources to meet the needs of people everywhere. BP, like its many competitors, operates within the bounds of the four functions of management; planning, organizing, leading, and controlling. Management within the BP also has to deal with different business landscapes to make sure their company stays competitive. These landscapes would be globalization, technology, innovation, diversity, and ethics. BP has internal factors that can be corrected within these categories that can lead to its success; however they also come with external factors that the company has little control over. However not a rule, an organization is can have a factor that affects both the internal and external factors that affect the four functions of management. Globalization is described as “allowing a company to maximize its profits by trying to become the best in the world (Bateman, 2011).” British Petroleum saw the advantage in globalizing because of the world demand for natural resources. This was an internal factor that leads to the globalization of the company. One of the internal factors that helped BP in its globalization efforts was the company becoming public in 1995. This allowed it to become 12th largest producer of crude...
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...Internal and External Factors and Management Functions MGT/230 Internal and External Factors and Management Functions A company’s success often rests within its ability to observe and analyze itself, both internally and externally. This is a large undertaking, and must be accomplished carefully, and on a daily basis. When management ignores factors that contribute to the company’s well being, it places the company in jeopardy of failing. Succeeding in business is not an impossible task, but it is most requires consistent tasks. There are internal and external factors that affect a company, such as its internal strengths and weaknesses, and its external opportunities and threats. These factors are found within a company’s SWOT analysis, which are its strengths, weaknesses, opportunities and threats. When analyzing these conditions, management should tie these factors into the four functions of management, which are planning, organizing, leading and controlling (Bateman & Snell, 2011, p. 15). Hormel Foods Hormel Foods Corporation is a leading food company that prides itself with its original product branding. The company has a large variety of quality products that carry the company’s brand name. Quality assurance is a key factor in Hormel’s management process, and has become a staple for the brand. This paper will review Hormel’s internal and external factors, and how they relate to the four functions of management...
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...The United States Federal Reserve System was founded by Congress in 1913 to provide the nation with a safer, more flexible, and more stable monetary and financial system (2005). Over time the Federal System has expanded into additional areas to include globalization, technology, innovation, diversity, and ethics. The Federal Reserve System is an organization that should demand more attention. This private organization affects global markets by playing an important role as the reserve currency of the world. Moreover, the Federal Reserve is impacted by the world financial markets. The Federal Reserve affects global markets by setting interest rates, establishing the nation’s monetary policy, and by controlling the printing of U.S. dollars. Interest rates are important to the global economy because it determines the supply and demand of U.S. exports and dollars. Furthermore, changes to the monetary policy affect the value of the dollar on currency markets (2005). Higher interest rates establish the assumption of a strong economy; therefore, the cost of imports is lower and the cost of exports higher. For this reason, market investors pay close attention to data releases and statements by the Federal Reserve in order to adjust to changes to the monetary policy. The Federal Reserve implements its monetary policy through its control over the federal funds rate—the rate at which depository institutions trade balances at the Federal Reserve (2005). Essentially changes to the value...
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...DATE: 12/20/11 TIME: 10:43:11 USER: MHERNANDEZ VENDOR : SITE : MONTH : YEAR : PROGRAM: 21683 *ALL* 12 2011 *ALL* PRINT DAY CARE ATTENDANCE SHEETS - COVER PAGE CHILD CARE RESOURCES INC PAGE 1 PROG# DC2001 DATE: 12/20/11 PER#: 134157 GOLDSTAR ACADEMY 5301 SHARON ROAD CHARLOTTE, NC 28210 DIRECTIONS: DAY CARE ATTENDANCE SHEET - ORIGINAL COPY CHILD CARE RESOURCES INC TELEPHONE SS - State Subsidy VENDOR/SITE: 21683 00 (E-Mail) Phone No: 704 553 0512 DECEMBER, 2011 PAGE FACID: F6071150 1 ______________________________________ SIGNATURE DATE Please write one of the codes listed below in each open box. Put a code in the Weekend box if you provided care. Write the number of days that you provided 1-way and 2-way transportation in the 'TRN' columns. If the parent was required to pay a fee and paid it, write a 'Y' in the 'PNT-FEE' column. F - Full-Day care P - Half-Day care Q - 3/4-Day care S - After School care A - Excused Absence U - Unexcused Absence X - Disallowed Day, No Pay H - Holiday (closed with pay) C - DCV closed without pay Number of private pay children ________ Number of subsidized children from other counties _______ ("*" in front of Name = Incomplete Attendance) ("+" in front of Name = Enhancement Change) -----------------------------------------------------------------------------------------------------------------------------------|Trans|Pnt CHILD NAME |01|02|03|04|05|06|07|08|09|10|11|12|13|14|15|16|17|18|19|20|21|22|23|24|25|26|27|28|29|30|31|1W|2W|Fee...
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...How Internal and External Factors Impact the Planning Function of Management within Dell Introduction This paper will discuss how internal and external factors impact the planning function of management within Dell Computer Corporation. These factors are rapid change, globalization, technology, e-business, innovation, diversity and ethics. All these factors have an affect on how the management at Dell plans for the future and reaches it’s ever changing goals. Rapid Change Dell was doing very well in sales. Demand for computers was at an all time high. In order for Dell to keep up with the demand, they needed to build a bigger and better plant. Assembly line workers were given more responsibility and more components. This enabled them to build more machines individually. Instead of adding a bolt here and a chip there, workers in very small teams would build the complete machine following precise order guidelines and by using components stored in the carefully indicated racks in front of them. In order to meet the demand for different machine options, Dell had to make a massive change in its continuous flow operation. They implemented a Pick-To Light system, which is an up-to-the-minute database that runs on an SCO Unix operating system platform and is tied to a stockroom system. By tying it to work-in-progress stockrooms, the order-level material checking system...
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...Journal of Management Volume 2. Number 2. September 2010. Pp. 22 - 35 Co-operation between Internal and External Auditors: A Comparative Study on Nationalized and Foreign Banks in Bangladesh Rehana Fowzia Effective co-operation between internal and external audit leads to a range of benefits for both parties, and the clients they serve. This study comparatively examines the influence of different factors on co-operation between internal and external auditors of foreign banks with nationalized banks in Bangladesh. Empirical evidence reveals that co-operation promoted through management and the audit committee is the most important factor for assessing co-operation between internal and external auditors in both nationalized banks and foreign banks. The overall comparative analysis shows that the total difference regarding the contribution of diverse factors on assessing the co-operation between internal and external auditors between nationalized banks and foreign banks is insignificant. But the position of nationalized banks is better than foreign banks in Bangladesh. Keywords: Internal auditor, External auditor, Co-operation, Nationalized banks, Foreign banks. Field of Research: Auditing. 1. Introduction Internal auditors are employees of a company hired to assess and evaluate its system of internal control. To maintain independence, they present their reports directly to the board of directors or to top management. They provide functional operation to the concern. Internal auditors...
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...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...
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...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...
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...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...
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...Internal and External Factors Team Paper Preparing for internal and external factors play a huge role in the success of a company like Amazon. A well-implemented plan takes into account all facets, realizing them when needed. Internal factors are controllable within the walls of the enterprise such as procedures and policies, the culture of the business, and compensation. External factors define the uncontrollable components beyond the companies’ authority; competitors, the market force, regulation set forth by government agencies, the economy and customers. Internal Factors Leading Function of Management The leading function of management means to lead the organization; strategizing a continual plan that takes into account both internal and external factors for when they may need implementation. Amazon continually updates their future plans and possible markets. Amazon has not remained stagnant internally. Uniquely qualified in the internet market to sell goods they excel by leading the company to exponential growth through those opportunities. Controlling Function of Management Competent controls achieve the realization of managerial plans and strategies. The controls or policies for an organization accomplish their goals. They create the results of the organization by directing employee efforts. A breakdown in effective controls defeats managerial plans; inadequate controls have the same effect. The shipping of products offered on Amazon represents the control...
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