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Mgt230

In: Business and Management

Submitted By saltwaterfin
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Internal and External Factors Paper
J.Simpson; Eileen Reyes; Kevin Fears; Ashley Brown; Brittany
Team A
University of Phoenix
MGT/230- Steven Friloux
November 23, 2015
Internal and External Factors Paper

Introduction

The four management functions are influenced by internal and external factors. In our learning team’s paper, we will discuss some of the factors that affect the functions of management in a global environment. From internal factors, such as leadership styles and company procedures, to external factors like political and economic risks, it is obvious that delicately managing employees, in order to affectively address those functions, is of utmost importance.

Explain how internal and external factors affect the four functions of management (planning, organizing, leading, and controlling).
Internal factors are factors that affect the workings inside the business like accounting functions, leadership style, management changes, and procedures on how the business operates. Internal factors are important to how you run a business. The basic universal language are the accounting principles. You must understand the function of this to know how to run the business. A company’s leadership style impacts organizational culture. Leaders have to be able to communicate effectively. Also, the strength of the employees is an important internal factor. Hard-working and talented workers produce better results for a business. Procedures deal with how you execute your plans or objectives.

External factors are factors outside the scope of the business that affects the business like the political risk, systemic risks, economic risk, etc. External factors deal with all that is outside the business that can influence the business. The political risk can influence through lobbying through congress to change laws. The by-laws are important as well. This...

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