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Internal And External Factors Essay

839 words - 4 pages

To be an effective leader in modern business, one must utilize the four management functions of planning, organizing, leading, and controlling. But within each function, its role in business today can be examined through their correlation with globalization, technology, innovation, diversity, and ethics. We will examine each function separately, and provide examples on each topic.
Globalization describes the business practices that make companies operate globally, going beyond international borders. It allows for companies to obtain a workforce from all corners of the earth, and not reliant on a local applicant pool (Bateman & Snell, 2011). It can be described as a cause of the current ...view middle of the document...

By planning any undertaking by a business, a full understanding of how large its impact is on the global economy. It also provides forethought on the types of technology to use in distributing, advertising and implemention of the products or services. That can also lead to further innovations in technology, or even changes in overall business practices. Through planning, managers can ensure that an ethical course is maintained and that a diverse workforce is employed. By planning out the process on which direction the company will take, it minimizes the risk to the endeavor, and allow for easy organization of assets.
Organizing as defined by the textbook is the gathering of all of said assets, such as personnel, equipment, money, information, and other resources needed to accomplish the task (Bateman & Snell, 2011). Through organization, supply chains can be established across the globe to maximize profits. If there is a physical product produced, factories and warehouses can be placed closer to those supply chains to minimize takt time, increase productivity, and lessen costs on storing parts and labor. Organization may lead to seeing new ways to innovate processes and procedures to increase productivity. Finally, organization can dictate how ethical issues will be implemented, as well as ensuring that a diversified workforce is employed. Through organization, a manager can efficiently guide his employees to achieve the goals set in the planning phase.
Leading is defined as stimulating employees to perform at or above set standards through communication and motivation (Bateman & Snell, 2011). Leading can also be defined as being a leader in the company’s specific industry. Managers...

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