...Wal-Mart – A Model of Success Through Effective Management Many start-up business venture fail early the process of establishment; however, some do make it through the early years and go on to become models of success. Most of the companies struggle or fail because of a lack of focus in the functional areas of management as well as their inability to adapt to internal and external factors that they cannot control. The Beginning Wal-Mart, one the largest retailer in the world, began in 1992 as a small company in Rogers, Arkansas, it has grown to more than 8000 stores operating under 69 different names in 27 countries ("History Timeline," 2012). The company’s success comes as a result of their management model and their ability to take advantage of factors such as strategic globalization, every-changing technology, innovative thinking, cultural diversity, and ethical qualities. Going global. Wal-Mart “employs 2.2 million associates worldwide and serves 200 million customers each week” ("History Timeline,” 2012). In 1991 Wal-Mart made the decision to go global with the opening of a Sam’s Club Store in Mexico City ("History Timeline," 2012). To overcome possible language barriers and to adapt to local cultures, in some countries the company hires its general managers from the local areas. The company’s size and revenue makes it a major contributor to the world economy. Had Wal-Mart decided to only establish stores within the certain states or within only the United...
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...Internal and External Factors Paper By: Kyle Mura MGT 230 Bill Escue Internal and External Factors Paper By: Kyle Mura MGT 230 Bill Escue In the past, working for Family Dollar gave employees the opportunity to witness the manager at the store use the four functions of management in the daily routine. The four functions of management are planning, organizing, leading and controlling (Four Functions of Management: Planning, Organizing, Leading & Controlling, Study.com, Chapter 1 Lesson 4). Being an employee at Family Dollar has given them the ability to write about their experience witnessing the action. The internal and external factors that this employee is choosing to write about are Technology, Diversity and Ethics. During the time at Family Dollar, employees witness many times when technology was good and bad. Most of the time, the problems were with the P.O.S. system needing to be updated or where the time clock software needed to be updated. The manager was pretty good on keeping all systems up to date, but that was due to my manager being able to plan around the updates. Most updates my manager was able to have happen after the store had closed so no interruptions would happen during regular business hours. There were times when even trying to plan, updates during business hours had to happen, in which case, the manager had always posted signs on the doors warning customers of possible interruptions during checkout. The manager was always organized with...
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...Internal and External Factors Learning Team Arib, Chuck, Caleb, Jeff MGT /230 July 14, 2013 NEO WILLAMS External and internal factors affecting any organization come in many forms and may cause major impacts to the organization in different areas. Assessing external and internal factors that organizations may face can be vital to the four functions of management. These four functions planning, organizing, leading and control are a continuous process that managers will need to adapt to ever changing environments. In this paper, the team will discuss the internal and external effects British Petroleum experiences caused by globalization, technology, innovation, diversity and ethics and how they affect the four functions of management. British Petroleum is truly a global organization with operations in Europe, Asia Pacific, the Americas, Middle East and Africa. Many internal factors since starting in 1908 have led to the company’s globalization including how the organization changes its practices to compete on a worldwide scale. British Petroleum production, product diversity, development, customer service and marketing strategies are just a few examples. Since British Petroleum inception and first drilling operation in Persia, many external factors have affected the company’s growth. Planning for such expansion does not happen overnight, but the organizational goals have remained the same. Finding the right people, gaining capital, management needed to become accustomed...
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...Internal and External factors paper Elizabeth Sanchez MGT/230 Feburary 25, 2014 Mary Roberson Internal and External factors paper Capital One is one of the United States top 10th largest holding banks which specialize in credit cards, auto loans, home loans, savings and banking. With over 963 Capital One Bank Branches across the U.S which includes their 9 Café Style locations known to their customers as the Capital One 360 Brand. They also provide well over 2,000 ATMS throughout the U.S as well as providing banking in Canada and the United Kingdom. Capital One is striving to keep up with today’s demand on easy, accessible, high speed and agile technology that may benefit not only their customers but those of their employees so that they may be to provide their customers needs. Capital One aims to meet technology demands of their internal and external customers as well as employees to keep them in control of their financial needs. One of their major technology add on was that of licensing MarketSwitch Corporation, which is the first multi-dimensional customer optimization system analyzes both their outbound and inbound campaigns which provides valuable help to bring the right product to the right consumer. Technology will continue to change and Capital One will continue to make their innovating changes to meet their internal and external consumers to banking simple, fast and worry-free. REFERNCES http://search.proquest.com.ezproxy.apollolibrary.com/dohttp://search...
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...Google internal and external factors Mark Gray, Christian Silva, Joseph DeRuntz MGT/230 July 23, 2012 Ogwo Umeh Google internal and external factors As we evolve as managers of Google if there is anything that is stead fast and unchanging, it is change itself. Change is inevitable, and as one of the leading organizations in the internet world if we do not keep up with change our company will become unstable, with long-term survivability in question. At Google there are internal and external driving forces that can help or hurt our business. The internal forces are things, situations, or events that occur inside of our business, and are generally under the control of every management staff member which our. • Organization • Technology • Management systems • Financial • Employees External factors that we face are those things, situations or events that occur outside of the company and are large beyond the control of us as the management staff. Examples of these types of situations that we may face is the • Economy • Demographics • Competition • Political interference In addition to these two driving internal and external driving forces that affect the four functions of our management staff Diversity and Ethics will be an integral part of us being able to run a successful and profitable business. With such a diverse culture it is imperative that we have a diverse work force no matter of race, sex, national origin, and disability. “Communities admire employers...
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...Internal and External Factors Carla A Roberts MGT/230 Internal and External Factors Several internal and external factors has influence the way organizations are managed. One of the biggest manufactured in the United States, Chevrolet, was not exempt from this environment. The four functions of management was impacted by globalization, technology, innovation, diversity and ethics. Planning, organizing, leading and controlling, managers must consider that these are major influences. The operation of a global organization like Chevrolet is dynamic, with internal and external environments is not static, to react to these changes, management must approach when it’s necessary. When running a business managers must use the four functions of management to obtain goals to run a business and must keep in mind at all times internal and external factors. Globalization The managers of Chevrolet had to implement plans to gain the competitive advantage of competition with other automotive companies that offer fuel efficient vehicles. Managers need to focus on the cultural differences, transportation of products, increasing of competition and outsource production (Xaxx J. 2011). Chevrolet has launched its manufacturing company to Asia, Russia, Brazil and China (Szczesny J. 2011). The previous management’s focus was on manufacturing SUV’s and trucks but not that was not needed in other countries. Management’s focus was not on what consumer wanted so sales were declining but rather...
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...MGT/230 Assignment – Internal and External Factors Paper Johnson and Johnson (JNJ) began in the late 1880s as a family owned and operated business geared toward the health care and first aid of individuals. In their first 20 years of operation, Johnson and Johnson built a solid domestic business and were among the first responders to the 1906 San Francisco Earthquake. Currently, Johnson and Johnson span the globe with more than 250 locations in 57 countries ("Johnson and Johnson Company Structure", 2011). In JNJ’s century plus experience and business operations, adjusting and adapting the functions of management to meet operational goals and public demands is a testament to their longevity. From their worldwide expansion, innovations in healthcare, business ethics, contributions to technology, to their community diversity, JNJ provides a “How to Succeed in Business” guide for others to follow. Internal and external factors involved in technology affect management’s efficiency in planning, organizing, leading and controlling. The new advances in technology have provided new production techniques and new ways to manage and communicate such as telecommuting and robotic manufacturing. The technology of computers has increased productivity and performance. Management is able to watch and learn what the competitors are doing and improve the efficiency in decision making. There are also threats involved with technology when ensuring the most up to date technology...
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...Internal and External Factors Paper David Munoz, Raymond Richards, Noemie Neipert, Donald Robertson University of Phoenix MGT/230 - MANAGEMENT THEORY AND PRACTICE MU12BSB05 Dr, Zeneo Williams 08/20/2012 Internal and External Factors Paper Internal and external factors can play a big part on management in negative or positive ways. This paper will cover some of the factors that arise both internally and externally within a company that can and will affect individuals in management positions. This paper will cover factors dealing with globalization, technology, innovation, diversity and ethics. Furthermore this paper will explain how factors in some of the categories mentioned can affect some aspects in the four functions of management. According to Bateman (2011), Management is broken down into four functions planning, organizing, leading and controlling (Chapter 1). An overall definition of management is working with people and resources to achieve organizational goals. Performing these actions can be made more difficult by factors within a company and factors external to that company. A large worldwide company such as Toyota must keep a lot of factors in mind while also attempting to accomplish these goals. Managers play a vital role in adapting to situations within companies such as Toyota they must be aware of changes and situations on a global scale. Some examples will be provided on how managers have to deal with planning, organizing, leading...
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...Reflection Summary Team “A” MGT 230: Management Theory and Practice October 27, 2012 Shannon Thomas Reflection Summary There was much that our team learned from the material assigned last week; for example, to every successful organization there are four essential functions of management. Prior to this course and week one, we had some knowledge of what made a company work; leadership, organization, and planning are all necessary for the success of any company or organization. However, we had little or no knowledge about the controlling function. It is our understanding that controlling is both essential as well as beneficial to the performance of any organization. Controlling allows a company to maximize its resources and increases efficiency. It is very important to any company; in fact, the controlling function is so vital that it could determine the reputation of a company both in a good and bad manner. The elements which compose the internal factors of a company include, personnel, structure of management, and departments within an organization. On the other hand, just as important as internal factors, an example of external factors would be the environment surrounding the location of any company. This is important because it dictates the customers they may be serving, the community where the majority of their business is conducted, and other possible relationships they may have with other businesses. In order for managers to succeed it is necessary they...
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...Internal and External Factors MGT/230 September 23, 2011 Internal and External Factors Normally when someone thinks of diversity, he or she will usually think that it is only about race and gender. When it comes to the four functions of management, it is much more than that. Diversity in Starbucks incorporates ethnic group, age, personality, thinking style, religion, job position, education, sexual orientation, and personal background. These are just some of the types of diversity that Starbucks faces on a daily bases and must deal with in to implement a successful management system. Diversity not only affects a Starbucks internally but also externally in the sense that it must protect its public image to customers and creates a higher standard of competition with other businesses. Leading in any business also can be considered as a practice for diversity management because it gives the understanding that in order to fix external diversity problems; it must start by working with the internal diversity problems. (Starbucks Blog, 2011) A perfect example of this is when allegations surfaced in June 14, 2011 of a Long Island Starbucks being anti-gay after a customer posted a blog on her personal website of a manager yelling at a gay employee that they are not interested in in his politics or beliefs and his thoughts were down right offensive to his co-workers and that they are not welcomed in Starbucks. (KIROTV, 2011) This caused thousands of customers to post angry comments...
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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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...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...
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...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...
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...Internal and External Factors Paper Avon Banks MGT/230 September 29, 2015 Zina Hampton Introduction It is so important that managers understand how to manage. This word manage is not just getting employees to conform to a specific thing or a standard. As a leader being able to manage involves planning and leading, organizing and controlling. A good leader or manager may not be able to hone these four areas as an expert right away, but with mentoring, training, and time from upper and middle management the excellence will come. Management is the process of working with people and resources to accomplish organizational goals. Good managers do those things both well and proficiently. To be successful is to accomplish organizational goals. To be good at your job is to achieve goals with minimal waste of resources, to effectively make the best use of money, time, equipment, and people. Internal and external factors has a lot to do with how a leader is able to function in management. In 2006 a study was done in Korea to determine the internal and external environmental factors associated with home nursing care (HNC). The study was done on eighty nine hospitals and was conducted to understand the impact the corresponding factors would have on performance. The study found out that the passion and the love the nurses had for caring for the elderly was significant. Considering the limited market size of Korea, illustrated that the significant factor for the development...
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...XEROX; Internal and External Factors Yumi Apaez MGT/230 Management Theory and Practice November 9, 2015 Mary Tytran XEROX; Internal and External Factors There are several factors that management has to take into consideration when attempting to run a successful company or business. There are external and internal factors that may potentially affect the four functions of management. The management team of companies and businesses may have to deal with external factors such as regulations, any potential competition and customer demand. These companies and businesses must have knowledge of all policies, human resources and cultural differences. Those are just a few external and internal factors that affect the four functions of management. External Factors There are external factors that companies and businesses should take into consideration which are competitors, suppliers and customers. Management and their team has to have knowledge of the environment and area their business are ran. It is also important to know the ins and outs of the economical side. Competitors are out there everywhere and management should know about it. There is a lot of competition in the business world. Suppliers compete for business and management has to make sound decisions on which suppliers to use. Sometimes the least expensive suppliers are not always the better. You get what you pay for. Knowing the demographics or the different regions is also essential. You have...
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