Internal and External Factors Paper

MGT/230

October 12, 2015

INTERNAL AND EXTERNAL FACTORS PAPER

The purpose of this essay is to explain how both internal and external factors affect the four functions of management. And how those factors also affect the organization of Verizon wireless
Level One Heading The major four functions of management includes planning, controlling, organizing, and leading. These four functions could be affected by both internal and external factors in any business environment. Planning in management is systematically making decisions based on goals and activities that will be pursued by an individual. Controlling in management is the Monitoring performance and making changes. Organizing in management is assembling and coordinating human, financial, physical, information, and other resources needed to achieve goals. Leading in management involves the manager’s efforts to stimulate the high performance by employees. The external forces that affect the four functions of a business in management includes political, economic, technological, and sociological. Sociological is the demographics status in which helps management to plan for the future and design products for different aspects of people. Political and Economic includes all essential factors such as competitors and suppliers and customers as well this allows them to study their suppliers and competitors. Technology has a big effect on businesses, and the market could change overnight at any time so it is up to management to be able to adapt and be in potion to make decisions to adjust the company up to standards. The internal and external factors such as: Globalization, Technology, Innovation, Diversity, and Ethics all affect the four functions of management in Verizon Wireless. Globalization is an important aspect for success growth and