...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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...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 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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...Internal and External Factors Internal and External Factors Introduction Capital One is a successful business. The bank has applied the four functions of management which are planning, organization, leading, and control to aid in their success. Each component is important and it is hard for one to function without the other. There are internal and external factors that affect these four functions of management. The following will explain how these factors affect the functions of management in Globalization, Innovation, Diversity, Ethics, and Technology. Globalization Capital One Bank, as a credit card giant and one of the worlds’ strongest banks, has evolved with the current market. Globalization allows businesses to interact and trade past traditional geographic and political boundaries. This allows businesses, like Capital One Bank, to platform commerce. Production, customer service, development, and marketing strategies are internal factors to globalization according to the intelligent business plan website. The external factors include new market environments in which any and every business has to be accustomed to (Taylor, 2012). Knowing this information concludes that the manager has to exemplify immaculate planning skills. Planning specifies the goals to be achieved, weighing discrepancies, positive and negative outcomes, and appropriate options to achieve the goals presented. Globalization also includes branding and so on. This should be developed internally to know...
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...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...
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...And External Environment Have you ever imagined yourself as a leader of a huge or small organization ? Which decisions would you make to guarantee a high efficiency of work ? I know that you feel that it may be easy to successful. It's just a decision-making and some employees who need someone to command them. Sitting behind large offices is a dream target for many employees, but to achieve this goal you need not only a hard work, but a high level of knowledge. Neglecting a simple thing could lead to the end. Over years many companies suffered from losses while others had already collapsed and did not exist anymore. There were many different reasons behind these problems. Some companies ended due to the competition with other firms. Others gave up because their products are no longer desirable. Most these firms figured out the main reasons of the problems too late. Many employers focus on internal environment more than the external environment or they would not pay attention to the outer boundaries. They may believe that the external environment is something you can’t control or deal with. For example, they look after good staff, great services, high quality of products ,appropriate structure…etc. All these issues manage and handle internal environment of the organization. Unfortunately, many firms somehow or another neglect external factors which could also affect negatively their business. Many companies went out of the market just because of the impact of external sectors...
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...MAS - Airasia Deal Rumoured To Be Scrapped But Nothing Concrete So Far Speculation is rife that the Prime Minister is considering aborting the share swap deal between both companies IMAS & AirAsial as the alliance had failed to show any improvement. A local news portal reported last week that the Government was also considering taking MAS private and asked Khazanah Nasional Bhd. to buy back a20.5 %o stake that has been exchanged with Tune Air Sdn. Bhd for a700/o stake in budget carrier AirAsia. The report also said that MAS Employees Union (Maseu) had met and urged the Prime Minister to abort the deal. MAS employees' complaints include the management style of deputy chief executive officer Mohammed Rashdan Yusof. Another complaint is the talk of being redeployed outside MAS to short-haul premium airline headed by Rasdhan as that would mean a loss of benefits. Both Khazanah and Ahmad Jauhari have yet to respond to earlier StarBiz queries. While the cries of the union workforce of MAS over the need to protect their jobs are felt by the Prime Minister, we have reiterated that the key low-hanging fruit for MAS to pick lies in trimming its excessive workforce [MAS has some 20, 000 employees versus AirAsia's 9,000 and Singapore Airlines' 21, 000), " 0SK research said. Furthermore the research house said with routes between AirAsia and MAS already rationalised as well as key employees from AirAsia being deployed to MAS, it believes the unravelling of the share swap...
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...Should external/internal auditors be responsible for detecting client fraud? In 2001 Enron, the seventh largest energy company in 2001, filed for bankruptcy. The event named “Enron Scandal” is considered to be the most shocking incident in American economic history. Bring the country to the edge of disaster, the scandal was basically caused by securities fraud which Enron was charge with. The irrationality of accounting and auditing system encouraged U.S. legislative to respond the scandal, enacting Sarbanes-Oxley Act 2002. SOX Act carried out comprehensive reform of accounting procedures required for publicly held companies, such as promoting and improving the quality and transparency of financial reporting by internal and external auditors. However, there is a controversial issue of whether auditors should be responsible for detecting client fraud. AU Section 110(Responsibilities and Functions of the Independent Auditor) indicates that “the auditor has a responsibility to plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether caused by error or fraud.” In other words, auditors are not expected to provide absolute assurance financial statements because auditors do not examine every transaction and event. The public, however, expect auditor to guarantee all material misstatements. While users who use the reported financial statements expect all illegal issues such as fraud to be detected...
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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 finances Every business needs money to operate now this money has to come from a source either for within the business (internal source) or from outside the business (external source). Business need money for many reasons like start up, for this they will need money to pay for rent on a building or buy a building, new equipment and advertising. A business also needs money to be able to run the business for example having enough money to pay staff wages and suppliers without this the business cannot run. A business may also need money to expand this means having funds to pay for a new premises or building start up in a different area and also enough money to run that new premises. This is why business need money but most new businesses find it difficult to raise finance because they usually have just a few customers, a low profit high debt and many competitors. Banks and people that loan are scared of the risk that the starting up a new business has as many fail within the first few years and very little make a profit in the first 3 years. Most new business need an external and internal finance to get going but I will be focusing on Costa who will mainly use internal finance sources as they are part of a bigger company group (Whitbread). What this means is that if Costa need more money to expand or something of that nature instead of looking for people to take a loan from or use money made by shares they will just move funds from Whitbread over to Costa...
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...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...
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...External/Internal Factors University of Phoenix Management: Theory, Practice and Application MGT/330 Oren Gilbert May 29, 2011 Abstract In this paper we will analyze the functions of management at St. Jude Children’s Research Hospital. Looking at the four management functions (planning, organizing, leading, and controlling) and how the functions are affected by internal and external factors. An explanation of how globalization, technology, innovation, diversity, and ethics affect the four management functions will are discussed. Lastly how managers at St. Jude Children’s Research Hospital use delegation to manage each function (planning, organizing, leading, and controlling). As well as how each factor (globalization, technology, innovation, diversity, and ethics) is affected managerial delegation. External/Internal Factors This paper is based on the St Jude’s Children Research Hospital. St. Jude’s Children Research Hospital was started in 1962 by founder Danny Thomas. Thomas’s goals were to change the lives of all the children that would walk through the hospital doors. He created a hospital that specialized in research and treatment of catastrophic diseases and illnesses. It was not until 2005 that St Jude’s added on a massive expansion that heightened the hospitals efforts to find cures, treatments, vaccines, and rehabilitation for children. This paper will include an explanation of how internal and external factors affect the four functions of management...
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...Internal and External Factors MGT/230 Internal and External Factors The four functions of management are planning, organizing, leading and controlling. First, planning helps a company accomplish strategic goals. Second, organizing makes a company or business more productive. Third, leading includes communicating and encouraging employees and getting to know them on an interpersonal level. Fourth, controlling is used to change an organization and help it grow. All four functions are essential to management and can be influenced by internal and external factors. Internal factors consist of culture, employee relation, rules and other things within the business. External factors consist of competitors, customers, and laws outside the company. Globalization, technology, innovation, diversity and ethics are crucial in every part of management. In this paper, I will explain how the four functions and internal and external factors affect Apple. I will also give a concrete example of how the four functions are influenced by globalization, technology, innovation, diversity, and ethics. Globalization is an external factor because it consists of things outside of the business walls. Globalization connects businesses around the world (Dictionary.com). Globalization allows businesses of any kind or size here in the United States to connect with the foreign business. Globalization changes the way managers plan. They now must consider a global market to get the best and cheapest product...
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...Internal and External Factors Paper Lisa Sebock MGT/230 April 13,2015 Brandon Fowler Internal and External Factors Paper Internal and external factors of an organization affect the four functions of management. Management is essential to an organization and keeps the company going in an orderly function. The internal and external factors such as globalization, technology, innovation, diversity, and ethics impact the functions of management. I chose to do my paper on Gap Inc.; I have worked for Old Navy for almost a year now, and Gap Inc. owns Old Navy. I see some things in the company that are benefitting to the company and will help make the business successful. There are also some things I see that will not make the company any money but in turn down the line have the company lose profit. Sometimes an organization does not see what they are doing unless they sit back and realize they need to get involved in the business more than just inspections and an occasional email. Internal and External Factors Internal factors of the organization Gap Inc. include planning for an event or sale. Making sure that the store has the correct advertisement for an individual sale so that people will see that a deal is happening. Making sure that every store has enough products for the sale to ensure people are happy with the deal and want to come back to the store. Planning for a sale or even the holiday and making sure there are enough employees to cover each store. All of these are...
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...Internal and External Factors Paper Lakeitcha Alexander MGT/230 March 12, 2015 David Grier Internal and External Factors Paper According to Bateman and Snell (2011), the four functions of management are important key elements that are use in order to be a successful manager. These functions consist of planning, organizing, leading, and controlling. When utilizing these functions, it is important that each receive the equal amount of attention. Otherwise, managers will not provide their full potential and will not be successful. There are internal and external factors that may affect these functions in a negative or positive way. These factors are globalization, technology, innovation, diversity, and ethics. The Functions of Management The planning function is the delivery of strategic value and is the stepping stone toward success. During this process, goals that need to be met are discussed beforehand and determined how they will be achieved. Things such as analyzing existing situations, predicting the future outcome and deciding on which resources are needed in order to accomplish these goals are a few other things that are discussed during this process (Bateman & Snell, 2011, Chapter 1). Organizing consists of building an organization that is forceful. Organizing an organization entails several components that include financial, manpower, information and the resources that are needed to accomplish goals (Bateman & Snell, 2011, Chapter 1). In order for...
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