External/Internal Factors Paper

In: Business and Management

Submitted By Boricua
Words 1632
Pages 7
External/Internal Factors Paper
Rafael Caraballo
22 October 2012

“We have always believed that building strong leaders is a strategic imperative. When times are easy, leadership can be taken for granted. When the world is turbulent, you appreciate great people.” – Jeff Immelt, GE Chairman and CEO
Internal and External factors play a great part in the four functions of management. These factors can impact these four functions in many ways. The company that we chose to write about is General Electric known as GE. We will explain how internal and external factors affect the four function of management, which are; planning, organizing, leading, and controlling (Bateman & Snell,2009). We will also explain how these factors, along with delegation, affect globalization, technology, innovation, diversity, and ethics.
General Electric was founded in 1892 by Thomas Edison, Charles Coffin, Edwin Houston, and Elihu Thomson. These four men had an idea of bringing “good things to light.” GE is an advanced technology, services, and finance company taking on the world's toughest challenges they are dedicated to innovation in energy, health, transportation, and infrastructure (GE, 2011). The major planning for General Electric is their Marketing Plan. GE's marketing function is about delivering superior business impact and results. We rigorously focus on customers; measure and assign accountability; attract, develop, and retain best-in-class talent, and methodically align our work against evolving business strategies (GE, 2011). One of the most important aspects of planning is forecasting what will be needed in that year. GE is leaning toward solar power. They are in the planning stages but this will help out the environment as well as be beneficial to the company’s success.
GE has had 11 different leaders since 1892. GE does motivate their employees to do a…...

Similar Documents

Internal and External Factors in Management Paper

...Internal and External Factors in Management Lorenita Borrero, Darlene See, Irene Malta, James Ortega MGT/230 June 14, 2012 Devin Daugherty Internal and External Factors in Management British Petroleum is a major world-wide company with a focus on finding energy sources to meet the needs of people everywhere. BP, like its many competitors, operates within the bounds of the four functions of management; planning, organizing, leading, and controlling. Management within the BP also has to deal with different business landscapes to make sure their company stays competitive. These landscapes would be globalization, technology, innovation, diversity, and ethics. BP has internal factors that can be corrected within these categories that can lead to its success; however they also come with external factors that the company has little control over. However not a rule, an organization is can have a factor that affects both the internal and external factors that affect the four functions of management. Globalization is described as “allowing a company to maximize its profits by trying to become the best in the world (Bateman, 2011).” British Petroleum saw the advantage in globalizing because of the world demand for natural resources. This was an internal factor that leads to the globalization of the company. One of the internal factors that helped BP in its globalization efforts was the company becoming public in 1995. This allowed it to become 12th largest producer of crude...

Words: 1146 - Pages: 5

Internal and External Factors Paper

...Internal and External Factors Starting from one man's kind gesture to help wounded soldiers, The Red Cross has grown to be known around the world for their compassionate care for those in need; Working to prevent and/or relieve suffering, the Red Cross is made up of donors, volunteers, and employees. These people come together from all walks of life in order to help those less fortunate or those who have been over-taken by disaster. There are five key service areas in which the Red Cross provides support; disaster relief, supporting America's Military families, lifesaving blood, health and safety services, and International services (Red Cross, 2013). Since being founded in1881 by Clara Barton, the Red Cross has been a consistent lifeline for those in need both in America and around the world (Red Cross, 2013). Of course, a lot has changed since 1881 in technology and just the everyday way of life, therefore The Red Cross has had to adapt as well in order to keep up and continue to run a successful organization. They have made good use of technology by use of Internet and data bases, which provide help and comfort to families who have had to endure disasters. For example, throughout many major disasters such as tornados, hurricanes, floods, and many other chaotic disasters, American Red Cross makes it possible for families to access a database and post their name and a message which then pushes out to Facebook and twitter letting other family members know they are ok. As......

Words: 1054 - Pages: 5

Internal and External Factors Paper

...Decision-Making Process Paper MGT 230 November 4, 2013 Andrea Santoni Professor LaStacy Whitman A time in my life that I had to make a personal decision was about a year ago. I was interviewing for a property manager job and I had been called back for the second interview and the opportunity was looking very good. The new job would be 20 miles away from my house which was not a long drive and the money that was being offered was an increase to my last job. During this time I received a call from my previous employer in which I had held the title of Assistant Property Manager, I was being offered the property manager position at an even higher amount than the job I was interviewing and the job location in the town that I live in and in addition a more luxurious building which looks better in my resume. The draw back of the previous job was that I had had a very bad experience and even though I would not be working with the same people they still lived in the building. The way that I looked at the problem is similar in some ways as the text because of course, my first step was to identify the decision that I needed to make. I made a list of all the pros and cons. I then started to identify the options and what would ultimately be better for my career overall. I did not explore other decision making process and accepted the offer from my previous employer. I have now been working in the position for almost a year and at times I feel that I might......

Words: 421 - Pages: 2

Internal and External Factors Paperinternal and External Factors Paper

...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......

Words: 1225 - Pages: 5

Internal and External Factors Paper

...Internal and External Factors Paper XMGT/230 Burger king corporation is well known globally from www.burgerking.com “With more than 12,000 restaurants, our global headquarters allows us to keep the pulse of our franchises, team members and operations. Our campus is designed to handle the ever-changing nature of our industry, while satisfying the needs of our customers and our BK® family.” Burger king has focus on the international and local trade and investment. We will there discuss internal and external factors affect the four functions of management which includes globalization, technology, innovation, diversity and ethics. From http://www.investopedia.com “Globalization is the tendency of investment funds and businesses to move beyond domestic and national markets to other markets around the globe, thereby increasing the interconnectedness of different markets. Globalization has had the effect of markedly increasing not only international trade, but also cultural exchange.” It affects the environment, culture, political systems and human well-being in societies around the world. Burger king is one of the world’s largest fast-food chains and is control by persons who own the franchise. When it comes to the function of management and globalization it can affect the business externally and internally both positively and negatively, when it comes to competition, environment changes and so on. Burger king has been the result of an excellent organization where the......

Words: 287 - Pages: 2

Internal and External Factors Paper

...Internal and External Factors Starr L Jackson MGT/230 -Week 2 October 20, 2014 Professor Robert Stokes University of Phoenix Dallas Campus Internal and External Factors I have been in the financial services industry since I began my career and am very familiar with the internal fee and pricing structure on a retail bank branch. Fee income is driven not only by deposit and lending products but service fees that are generated from fee-based services that charged to customers. Similar to other for profit organizations there are four basic functions of management in banking. They are planning, organizing, leading, and controlling. All four functions are necessary to ensure that a business operates seamlessly but may not be in any particular order. As a manager, proper planning and execution of the company’s assets and reputation must always be at the forefront. Always keeping the company’s mission in mind when strategizing daily activities or budget analysis is key in a management role. Organization from a managerial capacity is important and is only effective when you have the right resources and team in place that offer the greatest potential for success. Leadership is most often the first function to come to mind when discussing active management and entails much more that offering direction. An effective leader motivates and encourages their staff. They get to know them individually and identify what their career objectives are and what they are......

Words: 1130 - Pages: 5

Internal and External Factors Paper

...Internal and External Factors Paper Eduardo L. Quesada MGT/230 August 6, 2014 Constance Trout Internal and External Factors Paper Management can be defined in various ways depending on the type of business is what will determine how these skills can be used best. Every work industry creates it's own work environment and depending on the industry is what dictates how it should be managed. In this situation, we will discuss the various management functions available and how it pertains not to one organization, but how it pertains to a certain industry, and that is managing a golf course. Although my career plans are not to follow the golf management industry, I do have close friends who are involved in the management of the golf course. Golf course management seems to be an easy occupation to deal with, but as we will soon discuss this is nothing further from the truth. There are four basic functions of management. These functions involve planning, organizing, leading, and controlling. These four functions play a pivotal role in all types of management. Planning is the first step in every management process. A company first makes the most-important decision of where and when this will take place. It may deal with forecasting future business and setting deadlines to meet the expected goals of completing the project. Throughout this process, these plans are being adjusted to save time and money. In golf course management as in with any other industry this is......

Words: 1162 - Pages: 5

External/Internal Factors Paper

...External/Internal factors Paper University of Phoenix Mgt230/ Management, Theory and Practice Prof. Gabriel Medina 7 de febrero 2015 During this essay i will be presenting how the internal and external factor affect the function of Management such as planning, organizing, leading and controlling. Also how the managers can use delegation to manage the factors and function listed. The administration is the process of planning, organizing, leading and controlling the resources and the work activities to achieve goals and objectives efficiently and effectively. Planning is made a choice about the goals and mission of the company. Organization is to determine which tasks to do, which makes them and where decisions are taken. Direction is the fact influence people to contribute to meeting the goals of an organization. Controlling is to measure individual and organizational performance to ensure that the facts adhere to plans. Sometimes occur internal and external factors that may affect these four functions. This is called a Micro and Macro factors. The Micro are the internal factors of the company affecting management processes, production processes, degree of technological apprehension raw material costs, level of defective parts, and generally all internal relationships to the company that affect its competitiveness. The Macro is the external factors companies that affect its competitiveness, security, national......

Words: 912 - Pages: 4

Apple External and Internal Factors

...External/Internal Factors Paper Yolonda Washington, MGT/330 July 20, 2011 Tom Vincent External/Internal Factors Paper In our economy various external and internal factors affect the four functions of management. The four functions as discussed are planning, leading, organizing, and controlling. After reviewing the four functions the first functions is planning, and it is considered to be the main function for the business. “Planning communicates strategic value for the business; leading gives the employee’s motivation to do something good for the company and themselves, organizing develops the central point for the company and gives a more concrete way of building on dynamics, and controlling develops the center point for the company and how changes may come” (Bateman & Snell, 2009). The external function focuses on the market, social contact, HR, other competitors and many more external functions on the outside of the company. Another focus that may be important is supply and demand according to (Bateman & Snell, 2009). After analyzing the external function it has a major impact on all four functions for the company. Planning can become vital for the company when implementing new structures. Organizing can become more complex when adapting to innovative changes for the business. Controlling can become more contingent on the business for changing external factors and amend new management technology. However, the leading functions can help motivate......

Words: 329 - Pages: 2

Internal and External Factor Paper

...Internal and External Factor Paper MGT 230 September 21, 2015 Jack Geer Internal and External Factor Paper The four functions of managements is planning, organizing, leading, and controlling one’s organization. These functions should be used by managers to be more efficient in “achieving goals with minimal waste of resources.” (Management, Pg. 15) All four functions of management are key elements to be effective as a manager. Planning is described by “specifying the goals to be achieved and deciding in advance the appropriate actions needed to achieve those goals.” (Management, Pg. 15) A manager should have a plan before implicating any decision making. When a manager makes a plan, they can re-evaluate the plan and make any adjustments to the plan where they seem fit. Planning helps deliver strategic value within an organization or business. Organizing is described as “assembling and coordinating the human, financial, physical, informational, and other resources needed to achieve goals.” (Management, Pg. 15) After a manager has implicated a plan, they would then want to organize the plan by delegating authority, assigning work and providing direction to the employees. Controlling is described by “monitoring performance and implementing necessary changes.” (Management, Pg. 15) After a goal has been completed, the manager may monitor the performance by employee that may include, but not limited to, monetary goals, reducing customer......

Words: 1109 - Pages: 5

External/Internal Factors Paper/Mgt330

...External/Internal Factors Paper MGT/330 August 1, 2011 Joey Martin External/Internal Factors Paper Functions American Red Cross was founded in Washington D.C. on May 21st, 1881 by Clara Barton. She first hears of a similar organization following the Civil War in Europe. An organization based on volunteer work that provides emergency assistance and disaster relief. The ARC cover five area of assistance, these are: military family assistance, blood support, safety and health education, community service and international relief and development. The Emergency disaster relief helps fire, hurricane, flood and earthquake victims re-establish their lives by providing, housing, food, health education, clothing and other necessary assistance. Their education services provide people with the basic First Aid, CPR/AED trainings along with swimming and lifeguard lessons. The ARC is mainly supportive by volunteers, community donations and other Red Cross supportive programs. Their Mission Statement is “The American Red Cross, a humanitarian organization led by volunteers and guided by its Congressional Charter and the Fundamental Principles of the International Red Cross/Red Crescent Movement, will provide relief to victims of disaster and help people prevent, prepare for, and respond to emergencies. Volunteers play a great role in the organization; they have all ages, backgrounds, gender, helping as instructors, teaching, case managers, administration support etc. They......

Words: 2066 - Pages: 9

Internal and External Factor Paper

...Assignment – Internal and External Factors Paper MGT/230 Assignment – Internal and External Factors Paper Johnson and Johnson (JNJ) began in the late 1880s as a family owned and operated business geared toward the health care and first aid of individuals. In their first 20 years of operation, Johnson and Johnson built a solid domestic business and were among the first responders to the 1906 San Francisco Earthquake. Currently, Johnson and Johnson span the globe with more than 250 locations in 57 countries ("Johnson and Johnson Company Structure", 2011). In JNJ’s century plus experience and business operations, adjusting and adapting the functions of management to meet operational goals and public demands is a testament to their longevity. From their worldwide expansion, innovations in healthcare, business ethics, contributions to technology, to their community diversity, JNJ provides a “How to Succeed in Business” guide for others to follow. Internal and external factors involved in technology affect management’s efficiency in planning, organizing, leading and controlling. The new advances in technology have provided new production techniques and new ways to manage and communicate such as telecommuting and robotic manufacturing. The technology of computers has increased productivity and performance. Management is able to watch and learn what the competitors are doing and improve the efficiency in decision making. There are also threats involved with......

Words: 1943 - Pages: 8

Internal and External Factors Paper

...No matter how new or old, small or big, government owned or private enterprise, an organization must develop and implement their own management concepts in order to be successful. Four fundamental and core concepts to follow are plan, organize, lead, and control. The Department of Veterans Affairs (VA) has forgone such challenges in the process of reinventing itself (United States Department of Veteran Affairs, 2011). The VA fought internal and external factors that impacted areas in globalization, technology, innovation, diversity, and ethics. As the United States continues to fight against terrorism, members of the military continue to come home broken and disabled. Some disabilities require long-term recovery. The Department of Veteran Affairs makes every possible effort to ensure veterans receive the quality of care they need to enable them in performing their daily functions. The VA uses globalization not in a way to sell goods or services throughout the world but as an internal measure to promote acceptance, appreciation and tolerance of people from all backgrounds, cultures and nationalities. (businessdictionary.com, n.d.) Veterans gave of themselves to preserve the freedoms Americans now cherish without any concern to one’s background, religion, race, or culture. A veteran is a hero who deserves to be treated with honor and dignity no matter what part of the world he or she comes from. According to the businessdictionary.com, Technology is the purposeful......

Words: 1297 - Pages: 6

External/Internal Factors Paper

...External/Internal Factors Paper Diversity is one of the most important things at The Home Depot. It is the catalyst for innovative thinking, entrepreneurial spirit and new ways of building our communities. To this end The Home Depot uses creativity, fresh thinking, and the experiences of people from different cultures and beliefs. The Home Depot believes that talent comes in many different forms and they celebrate each and every talent, because every talent is cultivated and is considered to be the foundation of our culture in America. At The Home Depot, the executive management team is responsible for diversity and creates a culture that welcomes every associate. The company encourages people from diverse backgrounds in all levels of management, and managers are accountable for attracting diverse candidates. The Home Depot realizes that as they continue to grow locally and globally, they will increasingly need for their associates to continue contributing to their efforts. The Home Depot values diversity because it offers a competitive advantage, makes the company a better place to work; and they can understand better their diverse customers’ needs in this way. The Home Depot gives customers better service and deliver. At The Home Depot, Managers are committed to creating a diverse work environment and in these circumstances all employees are included, respected, supported and encouraged associates to do the best work. The Home Depot recognizes with pride the......

Words: 443 - Pages: 2

Internal and External Factors Paper

...McDonald's is a global company that faces many challenges that the management team must overcome to achieve continued success. Internal and external factors affect how management plan, control, organize, lead their teams to deliver their brand of excellence. Globalization, technology, innovation, diversity, and ethics are management areas that are affected by both internal and external factors. Commitment and leadership is very important when getting involved with the global market in addition it should also come from the owners and stockholders including the managers. The international training should accessible during the hiring process or the employee should already have this knowledge of the company. By having the employees with international knowledge of the company this will give McDonald's the opportunity to be in high demand in other countries. Many positive outcomes result from going global which include the willingness to go into a partnership with businesses in other countries, the strength the company will gain, and the flexibility the company will have. The negative outcome to going global would be the limited knowledge that an employee may have about the business, and the adjustment one would have to make to assimilate in another country and their culture. This would be a major change for a business to adjust to a different culture and the way they operate. And by doing business with another country they would have to change how they do operate within the......

Words: 1380 - Pages: 6