Functions of Management
External and internal factors such as globalization, technology, innovation, diversity and ethics can greatly impact the four functions of management. Functions such as planning, organizing, leading, and controlling can be influenced by these different internal and external factors since organizations need to ensure that they are addressed properly for business success. In addition, knowing the external and internal factors help organizations in identifying the business risks that exist in the environment in which they operate. This paper will focus on United Way, a non-profit community-based organization that was initially found in communities, large and small, across the United States.
Globalization has invoked extensive debate over its impact and credibility, giving rise to a number of perspectives. Indeed increased globalization has prompted remarkable economic growth around the world. It has led to job opportunities in making the products that are exchanged with different countries. This has produced specialization and comparative advantage. The power of foreign competition has encouraged domestic industries to innovate and it has allowed resources to flow to their highest use as well. Further, globalization is the process that increased the link and interdependence of the world markets and businesses. It is a route of interaction and integration of the people, companies, and governments of different nations, a process motivated by international trade and investment and aided by information technology. The volume of world trade has increased due to globalization. Consequently, more jobs are being available to people and consumers all over the world are enjoying a wider selection of products made from different countries.
Today, United Way does not only serve in strengthening families, helping children and youth, and building stronger communities locally. Aside... [continues]
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(2010, 11). Impact of External and Internal Factors on the Four Functions of Management. StudyMode.com. Retrieved 11, 2010, from http://www.studymode.com/essays/Impact-Of-External-And-Internal-Factors-492899.html
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