Internal and External Factor Paper

In: Business and Management

Submitted By lessons101
Words 1109
Pages 5
Internal and External Factor Paper


MGT 230

September 21, 2015
Jack Geer

Internal and External Factor Paper

The four functions of managements is planning, organizing, leading, and controlling one’s organization. These functions should be used by managers to be more efficient in “achieving goals with minimal waste of resources.” (Management, Pg. 15) All four functions of management are key elements to be effective as a manager.
Planning is described by “specifying the goals to be achieved and deciding in advance the appropriate actions needed to achieve those goals.” (Management, Pg. 15) A manager should have a plan before implicating any decision making. When a manager makes a plan, they can re-evaluate the plan and make any adjustments to the plan where they seem fit. Planning helps deliver strategic value within an organization or business.

Organizing is described as “assembling and coordinating the human, financial, physical, informational, and other resources needed to achieve goals.” (Management, Pg. 15) After a manager has implicated a plan, they would then want to organize the plan by delegating authority, assigning work and providing direction to the employees.


Controlling is described by “monitoring performance and implementing necessary changes.” (Management, Pg. 15) After a goal has been completed, the manager may monitor the performance by employee that may include, but not limited to, monetary goals, reducing customer complaints or simply meeting a quota at a specific time.

Walmart is an organization that uses strategic planning and organizational tools successfully to manage and market technology. Walmart is well known throughout the world, using technology to heighten their sales, along with innovating new ways to make their organization grow a very diverse culture and try to be as ethical as they…...

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