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Internal and External Factors in Management Paper

In: Business and Management

Submitted By lborrero10
Words 1146
Pages 5
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 oil, fifth largest refiner, and Brittan’s largest company (British Petroleum a Global Company in a Global World, 2003). Globalization has allowed BP to provide goods and services in locations of the world that would not have access to this commodity otherwise. Whenever a company goes global, it has different external factors to deal with. One of these external factors that affect the four...

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