External and Internal Factors

Topics: Management, Project management, Oxford English Dictionary Pages: 4 (1248 words) Published: December 4, 2005
External and Internal Factors
"Management is the process of working with people and resources to accomplish organizational goals" (Bateman-Schnell, 2003, p. 14). The four functions of management are planning, organizing, leading, and controlling. Internal and external factors such as rapid change, technology, and diversity impact the four functions of management. This paper will focus on these three factors and their impact on Verizon. The successful application of the four management functions when dealing with these factors, impact the success and failures of Verizon, as well as all other organizations. Rapid change impacts the four functions of management. The atmosphere is less stressful when Verizon has the luxury of operating without rapid change influences. Goals are planned for the company for the year, which become high-level projects. The high-level projects dictate advertising and budgets for the year. The organizing function then kicks into the process. "Organizing is assembling and coordinating the human, financial, physical, informational, and other resources needed to achieve goals" (Bateman-Schnell, 2003, p. 15). Project teams are assembled with the appropriate subject matter experts (SME) needed to successfully complete the project on time and within budget. Project managers then incorporate the leading function. These managers keep their teams stimulated to be high achievers by doing little things necessary to keep them motivated: giving praise often, rewarding milestone achievements with bonuses, planning activities to keep morale high. The controlling function is used next by following an established project plan. The project plan monitors every step of the project from beginning to end. The project plan tracks resources, tasks, milestones, problems, and solutions. This monitoring enables a manager to recognize potential problems and implement necessary changes to keep the project on track and successful. The atmosphere becomes...

References: Bateman-Schnell (2003). Management: The New Competitive Landscape. [University of Phoenix Custom Edition e-text]. McGraw-Hill Companies. Retrieved September 2, 2003 from University of Phoenix, Resource, MGT 330–Management: Theory, Practice, Application Web site: https://mycampus.phoenix.edu/secure/resource/resource.asp
Oxford English Dictionary Online (2004) Oxford University Press 2004. Second Edition
http://80-dictionary.oed.com.ezproxy.apollolibrary.com
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