Mgt/230 Internal And External Factors Paper

Internal / External Factors
Mike Reed
May 12, 2014
MGT/230 Management Theory and Practice
Mr. Doyle Young

Internal and External Factors
There are many different opinions on what makes up the fundamental functions of business; but the majority of experts consider planning, organizing, leading, could also be called directing, and control the most widely used to run a successful business. In this paper I will be defining the four different functions of business and give examples on how they used in business. One example of a business that used these is Ford Motor Company. Henry Ford was a visionary like no other in his time. He used and developed management skills and developed methods that were unheard during his time. When
Leading is stimulating people to be high performers (Bateman & Snell 2011, pg 15). Everyone thinks that they are a great leader. But the fact is that not everyone has the skills or mindset to be a great leader. We have all be around good and bad leaders, we tell ourselves to not become that bad leader. To be a great leader, you need to be able to enlist the support and aid of individuals to complete a common task. Some of the tools that a great leader has are charisma, intelligence, vision and situational awareness. Henry Ford was a great leader because he had all these tools that he used to create a global automobile company. Ford valued the people that worked for him; he showed this by paying them an extremely high salary for working on the assembly line. By doing this, he was able to attract the very best workers and by attracting the very best worker, you produce the very best product for customers to buy. He also thought that self-belief was essential. He preached it constantly because a leader that believes in himself, that belief becomes infectious and others will become inspired to believe in
Controlling monitors performance and implements necessary changes (Bateman & Snell 2011, pg 16). Controlling is not in the sense that you have your thumb on everything and nothing is done unless you authorize it, which is called micromanaging. When you use control, you need to determine what it that you want to control. For example, if the team that you are leading is presenting a plan to the president of your company on a new product. You, as the leader have control on things like planning, organizing, use of company resources, personal assignments and monitoring the information presented. In the early years of the Ford Motor Company, it produced eight different models and made one hundred cars a day. Henry Ford was not satisfied with this because he wanted to make one thousand cars a day. Being the majority stockholder, Ford took control of the company and announced that they were going to make only one automobile model, the Model T. by taking control and explaining his vision, he produced with is considered to be the most popular car of all times.
From planning to controlling, you cannot single out which function is more important than the others. To run a successful team or business, the four fundamental functions of business; planning, organizing, leading, and control should always be used together to produce the very best product or project together. Henry Ford once said "The best we can do is size up the chances, calculate the risks involved,