Internal and External Factors of Management
Introduction
Businesses rely heavily on the four basic functions of management Planning, Organizing, Directing, and Controlling; however, the skilled management of internal and external factors will ultimately determine the longevity of the company. Management teams are measured on how quickly they can build a company over a short period. However, the real measure is how well a company can continue to grow. Company success is continually evolving as the world changes, making it difficult on management teams to adapt as internal and external forces mold new paths. Google is a prime example of a leading company who must constantly evaluate their business objectives to keep up with the changing technological landscape. Traditional business models use a top down approach may leave the company unable to change, as the business leader is unable to change. “It is noteworthy that neither Larry Page nor Sergei Brin, Google's founders, has proclaimed himself "chief software architect," the badge Bill Gates wears at Microsoft” (Hamel, 2006) Instead the founders have designed a concept the makes every idea stand on its own merits. Internal and external factors such as Globalization, Technology, Innovation, Diversity, and Ethics carry large weight in management strategies and the method in which ideas are executed.
Planning
Planning is the first of the four management functions. Google manages to plan for their future by recognizing that planning requires research and development. Investing in new technologies takes time and money, and not every cent or minute can be dedicated to research without other sources for income. This is why Google invest in smaller companies to fund the evolution of change in the technological world. So even though the company’s overall growth may experience slow periods the overall income will continue to grow with the acquisition of these multiple smaller companies.
Organizing
Organizing is attracting people to the organization as well as
Businesses rely heavily on the four basic functions of management Planning, Organizing, Directing, and Controlling; however, the skilled management of internal and external factors will ultimately determine the longevity of the company. Management teams are measured on how quickly they can build a company over a short period. However, the real measure is how well a company can continue to grow. Company success is continually evolving as the world changes, making it difficult on management teams to adapt as internal and external forces mold new paths. Google is a prime example of a leading company who must constantly evaluate their business objectives to keep up with the changing technological landscape. Traditional business models use a top down approach may leave the company unable to change, as the business leader is unable to change. “It is noteworthy that neither Larry Page nor Sergei Brin, Google's founders, has proclaimed himself "chief software architect," the badge Bill Gates wears at Microsoft” (Hamel, 2006) Instead the founders have designed a concept the makes every idea stand on its own merits. Internal and external factors such as Globalization, Technology, Innovation, Diversity, and Ethics carry large weight in management strategies and the method in which ideas are executed.
Planning
Planning is the first of the four management functions. Google manages to plan for their future by recognizing that planning requires research and development. Investing in new technologies takes time and money, and not every cent or minute can be dedicated to research without other sources for income. This is why Google invest in smaller companies to fund the evolution of change in the technological world. So even though the company’s overall growth may experience slow periods the overall income will continue to grow with the acquisition of these multiple smaller companies.
Organizing
Organizing is attracting people to the organization as well as