...Responding to Internal and External Factors; Wal-mart Analysis Abstract; this report examines the ways in which Wal-mart responds to internal and external factors such as globalization, new technology, innovation, diversity, and ethics. Wal-Mart is a successful industry giant, so it stands to reason that they are proficient at responding to internal and internal factors and thriving . In this essay we explore Wal-Mart’s programs and initiatives and access if we could use their examples to learn from and grow as managers and business owners. There are various internal and external factors that affect the four functions of Management positively or negatively. Organizations need to pay close attention to these factors because it can enhance the company’s success when used appropriately. The most prevalent factors that management has to be concerned with in this era are globalization, new technologies, innovation, diversity, and ethics. Wal-mart is a big player in the nation nal and global market and must stay reactive to these internal and external factors to stay on top. Wal-mart is addressing each of these issues directly. Globalization has raised numerous questions about the credibility, leading to perceptions. Wal-Mart is one leading store serving millions of customers globally and continues to do so by opening more stores worldwide. Globalization has a great impact on the company. It has broadened their market structure and also increased profit margin. Even...
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...Internal and External Factors Team A Princess Waiters, Chris Tran, Charles Jones, Donald Dryer, Carolina Franco MGT/230 August 21, 2013 Professor Chris Pahl Internal and External Factors The internal and external fact of functions affects management every day. It is the performance that an organization or company within itself could turn out positive or negative. This also pertains to the outside world, where the factors can be beyond the control of the organization in positive or negative situations. The concepts in management implements the four functions needed for the core requirement in management. Planning is the foundation base which all others areas are built. There may be sudden strategies required to be implemented during a crisis. Depending on the conditions, a company may have to alter its course of action regarding certain goals. Organizing is the second function of management that is affected if resources beforehand are not organized. Leading or directing is the third function affected in management, it helps control and supervise the actions of the staff. The leading managers whether positive or negative the internal and external outcome, have to be sensitive and inspirational on a personal basis. Controlling is the last of the functions performance that is affected by the factors. Control is also dynamic in nature as the management can anticipate future problems. When it comes to globalization, internal and external factor affects various segments of...
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...Internal and External Factors Paper Luis Molina MGT/230 November 13, 2013 University of Phoenix Internal and External Factors Paper There are several internal and external factors affecting the functions of logistics planning. These you must have all the factors in mind, as they can have a huge impact on the productivity of organizations. The common four functions of management involve organizing, planning, controlling, and leading; the evaluation process of the internal and external factors that the organization will face that can be a risk for the management of the company. As a company you have to determine a set of problems and limitations, list of the factors that affect the implementation of the management plan. Developing the environmental assessment helps the understanding of the internal and external processes that will influence the success rate of organizations. The main purpose for environmental assessment is for the company or organization to be able to identify and analyze the major trends, forces and phenomena that have a potential impact on the implementation of strategies. Indeed environmental assessment helps to prepare the organization to acclimate to environmental changes and take advantage of opportunities and minimize the adverse effects of hazards. Once the environmental assessment is completed, is analyzed to prioritize the problems, limitations and assumptions that could influence the planning function of management. The assessment of external...
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...Wal-Mart’s Internal and External Factors Jessica Kiernan MGT/230 May 26, 2014 Terrell Kennard There are many ways that internal and external factors affect the four functions of business. The four functions of business are planning, organizing, leading, and controlling. All functions are vital when running any successful organization and should be taken into account at all times. Globalization, technology, innovation, diversity, and ethics are some examples of the different types of factors that could affect these functions of management. Although they can affect them in different ways, they are all factors that have a certain standpoint in the business world. Successful strategic management depends on an accurate and thorough evaluation of the competitive environment to include the resources, the competitive market, and a product line that will meet the needs of the people where a new warehouse will be constructed (Bateman & Snell, 2011). However, external factors do exist such as potential growth of the industry, major competitors, social issues that could affect the industry, labor issues, technological needs, and economic factors. With this in mind, Wal-Mart believes that being the first U.S. retailer of these markets will give them a competitive advantage over the next decade because by the time the rivals enter the overseas markets, Wal-Mart will already have established a good presence and understanding of the culture and shopping needs...
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...Internal and External Factors Paper Wal-Mart is a not only a retail business but an organization that everyone has either heard about or shopped at. As a leading organization, Wal-Mart has employed a total 2.2 million associates around the world, with only 1.3 million hired with in the U.S. (Wal-Mart Stores, Inc., 2014). There are several internal and external factors that affect the four functions of management. As Wal-Mart continues to strive towards success, globalization, technology, innovation, diversity, and ethics are all factors that affect Wal-Mart being one of the largest organizations in the world. Internal Factors Such is the case for every organization that wants to continue to expand and remain lucrative; the core of that company is their management. Management has four very important functions which keep their business and their employees afloat and those are planning, organizing, leading, and controlling. This format that management follows is no different when it comes to Wal-Mart. Wal-Mart is a company that continues to expand at a rapid pace due to the low prices, large availability of items, various services offered, and the customer experience when they come to the store. Inevitably, just like any other company, they will have some internal and external factors which may make certain situations on the job tougher. Examples of internal factors which could affect the job duties of a manager would be employees who do not want to work or are unmotivated...
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...Team A: Internal and External Factors Student MGT/230 October 1, 2010 Instructor Team A: Internal and External Factors The conditions and climate of the business world are constantly changing. With those changes, great executives have to keep their focus and be ready to adapt to them at a moments notice. At Wal-Mart, top executives have learned to utilize the four traditional functions of management: planning, organizing, leading, and controlling. Through understanding the four functions, they have been able to overcome the internal and external factors that have threatened Wal-Mart’s place in their industry. However, Wal-Mart has experienced situations where internal and external factors have affected and, in some cases, enhanced their ability to use those functions. Now we will take a look at these five factors: Globalization, Technology, Innovation, Diversity, and Ethics and analyze their affects on the four functions of management. For Wal-Mart, globalization has affected the four functions of management. When the organization decided to go global in 1991, Wal-Mart experienced a huge shift in its ideas of planning. With the options of going into Europe, Asia, and other countries in the western hemisphere, Wal-Mart decided to first move into the South American markets. Ultimately, Wal- Mart chose to expand its organization globally in Mexico where it could gain knowledge and experience, and use...
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...head: Internal and External Factors Internal and External Factors Team D – November 9, 2009 Thomas Johnson University of Phoenix Internal and External Factors When Wal-Mart first opened in 1962 the store was not the retail giant that it has grown to be in the past few years. Today Wal-Mart serves customers and members more than 200 million times per week at more than 8,159 retail units. Wal-Mart employs over 2.1 million associates worldwide and had sales of $401 billion during the 2009 fiscal year (Wal-Mart, 2009). Based on the annual sales and new locations constructed annually, the Wal-Mart management team must be doing something more than just clever marketing. Wal-Mart is an interest topic among management students because although it is a relatively young company it has already achieved tremendous success. Furthermore, the company boasts a desirable corporate culture where everyone is treated as family. The readers can’t help but think that this company is an advocate of diversity and encourages decision making among employees. This essay evaluates internal and external factors and how they affect the four functions of management. By exploring these topics, the readers will be able to see how the organization handles its operation and how it deals with its staffs. One of the biggest impacts on management in Wal-Mart would have to be planning and organizing on how they will price all their items in the store. Wal-Mart has to...
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...towards society. (Amason, A. 2010) Executive Summary: Strategic Management involves formulation and implementation of strategies to improve the performance and to gain competitive advantage. It involves decisions and acts that managers undertake in order to attain the desired goals. Strategies are planned means to attain end results. Strategic management is long term in nature and gives a direction to the organization. Before going into the usage of Strategic Tools, the paper details strategic management, need for it, approaches for strategy and the strategies involved at various levels. Then a brief of importance of stakeholder analysis in planning is given. My paper would comprise environmental analysis that is required by Wall-Mart in strategic planning to improve its market in escalating competition....
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...it manages the steps along the path leading into the future making sure company goals are meet and if not what changes need to be made in order to stay on course. Developing a strategic management plan can be difficult. Implementing an environmental scan will help identify both internal and external problems and influences used to build or change and existing strategic management plan. Several factors can influence the planning process. Many of the factors can be identified and taken into consideration when planning for the future. No matter how well an organization builds their strategic management plan there are always going to be unforeseen problems that will need to be addressed. Developing a strategic management plan that is able to manage change is essential to the success of the organization. Changes in market trends, consumer demands, and technological advancements are just a few areas change is inevitable. If the strategic management plan is going to work it must manage and implement changes in both internal and external environments. Two organizations that have continuously been at the top of their industry and have a significant competitive advantage are Wal-Mart and Target. Both Wal-Mart and Target have implemented brilliant strategic management plans since their conception, but not without proper planning, goals, and, measurement guidelines. Both of these giant retailers have had great success while going about it in different ways, applying...
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...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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...each company. The environmental scanning monitors help companies evaluate information from the internal and external factors of a company. The two companies being evaluated is USPS and Wal-Mart. The USPS internal and external factors are as follows: market and economic conditions, competitor actions, regulations, seasonality, and trend (" Internal and External Factors", 2014). The Internal factors are maintenance concepts, pricing strategies, product change, changes in usage factors, and promotions and advertising for products or services"(" Internal and External Factors", 2014). The USPS has to have better pay than the competitors to keep the employees. The carriers are paid well with USPS and tend to stay until the time they are eligible to retire. The "Performance Measurement Systems" (2004) website "External First-Class Measurement System (EXFC) is not a system-wide measurement of all First-Class Mail service performance". The USPS has very effective guidelines and follows protocol to the "T". The USPS takes great steps when ensuring quality service and care to their customers. They provide different services to their customer who in return keeps the customer coming back to them and helps keep the employees working. The postal service is continually trying to figure out different ways to keep money flowing in to keep our job secure. Wal-Mart is the second business that I have evaluated. The most popular technique is to focus...
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...Change: Wal-Mart Grant Ritter Indiana Wesleyan University September 26th 2011 The role of organizational change cannot be overestimated because if its role in providing institution with the opportunity to improve on their business processes. Through the process of organization change, business firms are more likely to improve on their business strategies and work effectively towards achieving their business goals. Wal-Mart operates a chain of stores in many locations all over the world. Over years, Wal-Mart has desired to have some changes in its organization though little has been achieved to date (Boone & Kurtz, 2010). This paper will address Wal-Mart motivators for change, structure of Wal-Mart, and recommendation of how changes can be effected within this organization. The need for change in Wal-mart is a product of motivator of change. For change to be desired an organization must be subjected to factors that motivate change. These factors can be internal or external. In the case of Wal-Mart, there two categories of motivators have worked together to create the desire for change in the firm. a) External motivators: External motivators are those considered to be operating outside the confines of the organization such as technology, social trends, changing markets and new personnel. Improved technology used in tracking sales and inventories call for change of legacy systems that are still in used in some stores in order for Wal-Mart to cope...
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...Change: Wal-Mart Grant Ritter Indiana Wesleyan University September 26th 2011 The role of organizational change cannot be overestimated because if its role in providing institution with the opportunity to improve on their business processes. Through the process of organization change, business firms are more likely to improve on their business strategies and work effectively towards achieving their business goals. Wal-Mart operates a chain of stores in many locations all over the world. Over years, Wal-Mart has desired to have some changes in its organization though little has been achieved to date (Boone & Kurtz, 2010). This paper will address Wal-Mart motivators for change, structure of Wal-Mart, and recommendation of how changes can be effected within this organization. The need for change in Wal-mart is a product of motivator of change. For change to be desired an organization must be subjected to factors that motivate change. These factors can be internal or external. In the case of Wal-Mart, there two categories of motivators have worked together to create the desire for change in the firm. a) External motivators: External motivators are those considered to be operating outside the confines of the organization such as technology, social trends, changing markets and new personnel. Improved technology used in tracking sales and inventories call for change of legacy systems that are still in used in some stores in order for Wal-Mart to cope...
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...Internal and External Factors Debra Cooke XMGT/230 November 10, 2013 Jeffery Day I will explain how internal and external factors affect the four functions of management. The four functions are planning, organizing, leading and controlling. Wal-Mart is one of the largest retailers in the world. Globalization is what has made Wal-Mart one of the biggest retailers. Wal-Mart not only impacts its suppliers and customers, but also the lives of the workers and economies of the countries where they locate. ‘Wal-Mart reaches around the globe, shaping the work and the lives of people who make toys in China, or raise salmon in Chile, or sew shirts in Bangladesh, even though they may have never visited a Wal-Mart store in their lives’(Fishman, 2006). Therefore, Wal-Mart is a company, which has truly been affected by globalization around the world. Wal-Mart has 8500 stores in over 55 countries which include Argentina, Brazil, Canada, China, Costa Rica, El Salvador, Germany, Guatemala, Honduras, Japan, Mexico, Nicaragua, Puerto Rico, South Korea and the United Kingdom. Advancements in transportation, logistics and ICT with the lowering economic barriers has armed retailers such as Wal-Mart to go beyond their saturated home markets and venture across borders to set up stores wherever there is demand from customers and market has potential. The journey of Wal-Mart’s mega spree into the globalization also began with the same factors. However, Wal-Mart was quick enough to make the...
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...Internal and External Factors Brooke Ellington October 13, 2013 University of Phoenix XMGT/230 Sam Walton opened the first Wal-Mart store in Arkansas on July 2, 1962, (Carson, 1999-2013). The vision of Sam Walton for his store Wal-Mart was to provide lower prices and to reflect on the values of the community and the customer. Consumers remember Wal-Mart for its motto "customer satisfaction" and “guaranteed lower prices." Wal-Mart offers employee training for everyone in the store from the greeters to the managers to ensure excellent customer skills and to instill Sam Walton's philosophy in the consumers mind. Wal-Mart's growth leads to the company becoming incorporated in 1969 that has led to stores opening in the nation and globally. Celebrating 50 years of helping communities and customers, Wal-Mart has more than 10,000 stores in at least 27 countries (History Timeline, 2012). Sam Walton has proven successful management using the four functions of management to grow his business. The four functions include planning, organizing, leading, and controlling. Wal-Mart's success in various levels of management has led to multidivisional structures. Wal-Mart has 13 divisions of strategic management that offers traditional functional areas and geographic areas in the retail operation. The purpose of this paper is to explain how internal and external factors affect the four functions of management in the Wal-Mart Corporation. For any organization to survive, irrespective of...
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