Internal And External Factors That Affect The Four...

Internal and External Factors There are various internal and external factors that affect the four functions of management in business. Some of these internal and external factors are globalization, technology, innovation, diversity, and ethics. As among the biggest retailers and employers across the world, Wal-Mart has several issues to take into consideration with regard to the four functions of management. When undertaking planning, organizing, leading, and controlling, Wal-Mart’s management will have to take into account precisely what external and internal factors will have an effect on planned managing alternatives. A few internal factors affecting Wal-Mart’s four management functions include the growth and development of future products, in order for Wal-Mart to be competitive with Trader Joe’s, Whole Foods and Kroger, Wal-Mart must start offering organic product. Recently Wal-Mart announced they will offer organic products 25% less then the competitors. Jack L. Sinclair, executive vice president of Walmart U.S.’s grocery division said, â€Å"We’re removing the premium associated with organic groceries†, the Wild Oats organic products will be priced the same as similar nonorganic brand-name goods. Wal-Mart will introduce â€Å"Wild Oats’ product to 2000 stores in the coming months. According to Jack L. Sinclair, â€Å"What we don’t want to do is launch it in 4,000 stores and then not be able to supply those 4,000 stores in the short term,† (New York Times, 2014). Another factor inShow MoreRelatedInternal and External Factors affect the fo ur functions of management1428 Words   |  6 Pages Internal and External Factors Affecting the Four Functions of Management Dina Pastor, Anelys Thompson, Christine Brown MGT230 April 7, 2014 Dick Amabile Internal and External Factors Affecting the Four Functions of Management In relation to the four functions of management, there are several internal and external factors that affect an organization’s success. Using DaVita, Inc. as an example, we can look at each internal factor that would affect the function of management and the externalRead MoreInternal External Factors1176 Words   |  5 PagesInternal External Factors Paper Osvaldo Lopez MGT/230 06/17/2015 Tricia Stewart Internal External Factors All successful organizations are affected by internal and external factors. These internal and external factors have an impact on the organizations four functions of management. The organizations that better adapt to these factors are the organizations that are the most successful, the more profitable and the companies that have will be around for a long time. ATTRead MoreInternal and External Factors Essay1027 Words   |  5 PagesInternal and External Factors 230 September 14, 2014 Internal and External Factors There are four management functions that are typically found in most of the business environments around the world. 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The driving forces or environmental or forces, internal driving forces are inside the business and external forces are outsideRead MoreMgt/230 Week 2 Team Assignment1684 Words   |  7 PagesInternal and External Factors MGT/230 Week 2 Team Assignment Internal and external factors greatly affect an organizations ability to accomplish the four functions of management. Management at every level is tasked with planning, leading, controlling, and organizing. As leadership applies the four functions to their day-to-day tasks, it is extremely important that things like; innovation, technology, globalization, ethics, and diversity are represented clearly within all aspects. The largestRead MoreEssay on Mgt/230 Internal and External Factors1504 Words   |  7 PagesInternal and External Factors In a variety of business environments around the world, four management functions are usually found. The functions are planning, organizing, leading, and controlling. These are used from top-level management to frontline or organizational management. Globalization, technology, innovation, diversity and ethics are factors that affect these business functions. One can examine almost any organization and find this to be true. Wal-mart is one of the leading retailRead MoreInternal and External Factors1059 Words   |  5 PagesInternal and External Factors in Management XMGT/230 Internal and External Factors I have been in the field of property management since I began my career and I am familiar with the organizational unit of a fee-based property management company. These fee-based property management companies are hired by multi-family real estate owners to manage the apartment communities that they own. This business, like any other is subject to the four basic functions of management.