Internal And External Factors Essay

1099 words - 5 pages

Internal and External Factors Paper
Lakeitcha Alexander
MGT/230
March 12, 2015
David Grier

Internal and External Factors Paper

According to Bateman and Snell (2011), the four functions of management are important key elements that are use in order to be a successful manager. These functions consist of planning, organizing, leading, and controlling. When utilizing these functions, it is important that each receive the equal amount of attention. Otherwise, managers will not provide their full potential and will not be successful. There are internal and external factors that may affect these functions in a negative or positive way. These factors are globalization, technology, ...view middle of the document...

Leading is an important factor in management. This is comes into effect through interaction with employees through motivation and communication whether if it is done individually or in a group setting. It is the responsibility of the manager to motivate his/her teams and encourage them to perform at their best. Communication is most important in management and is unavoidable. A manager will not be as effective if he/she does not communicate with their team. Also managers must allow employees to have the opportunity to share and implement ideas and not be closed minded by depriving them of doing so.
Controlling is the function that monitors performances and ensures that company resources are used for properly. On occasions systems may fail, somethings do not always work out as planned. This is why management is able to implement changes that are necessary that be in the best interest of the company.

Internal and External Factors
Globalization allows companies to operate worldwide rather than in one area. Facilities, offices, and employees can be stationed across the world. This helps to broaden the opportunity for a company to increase sales and productivity. If a company is interested in increasing sales, and would like to expand as a whole, reaching out to markets that are international would be the direction to lean toward. For example, GE became very successful by selling appliances to buyers from foreign countries such as Europe and China with sales constantly rising (Bateman & Snell, 2011, Chapter 1).
Technology continues to advance and is constantly evolving. Companies would not be able to function if technology was not included as a part of its plan. The latest technology produces production techniques that allow manufacturing to utilize things such as sophisticated robots rather than a human to do the job. This seems to be in favor of the company, but not for the individual who is unable to find employment. Although technology has its pros, it always has its drawbacks that can have a negative impact on someone’s future.
Innovation consists of new goods and services. Products do not sell as long as they use to in the past. Because of this, companies need to become accustom to adapting to consumer demands and its competitors (Bateman & Snell, 2011, Chapter 1). Developing ways to come up with a product that will defeat a competitor would be beneficial for the company. For...

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