Internal and External Factors
Internal and External factors affect the four functions of management in every organization. This paper will discuss how Internal and External factors affect the four functions of management: planning, organizing, leading and controlling in the Wal-mart organization. Wal-mart is one of the worlds largest retail stores. Wal-mart is a retail store for many different things; grocery, general merchandise, photo development, pet store, automotive tires, lube changes, gas station and hair and nail salons. Wal-mart is basically a one stop shop for all needs with the most competitive prices in town. We will discuss in further details how they affect the areas of Globalization, Technology, Innovation, Diversity and Ethics.
Founder Sam Walton decided he wanted to open a retail store and was convinced America wanted something different that would help everyone save money. Sam and his wife decided to travel the world researching and trying to find the best cost effective way to discounting retail. This was part of the planning process that will help his vision come to life. The first Wal-mart store in the US was opened in Rogers, Arkansas in 1962. By 1972 Wal-mart’s stock became available in the New York stock exchange which helped him expand within the US they grew to 276 stores in 11 states by the end of the decade.
Wal-mart began its journey in the Global market in 1991 when they decided to open a store near Mexico City. At the beginning profits were not where they expected. The mistake was that they opened the store using plans and strategies that were used for a store in the US. This was a learning curve for them; they needed to put together a different plan in order to do business internationally. After further research they began planning, organizing, leading and controlling in a different way. First the same way Sam Walton researched around the world for best retail pricing prior to... [continues]
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