Mgt/230 Week 2 Team Assignment Essay Example
Internal and External Factors MGT/230 Week 2 Team Assignment
Internal and external factors greatly affect an organizations ability to accomplish the four functions of management. Management at every level is tasked with planning, leading, controlling, and organizing. As leadership applies the four functions to their day-to-day tasks, it is extremely important that things like; innovation, technology, globalization, ethics, and diversity are represented clearly within all aspects. The largest retailer in the world, Wal-Mart, takes these internal/external factors and incorporates them very effectively into every aspect of their business. The organization does an excellent job at teaching their management team to consider these aspects and include them when employing the four functions of management. They recognize the vitality that this adds to the organization and do well at ensuring that all bases are covered. Only growth can come to companies that can use effectively, the knowledge, and perspectives gained through identifying internal as well as external factors. Further- how to incorporate them into their; planning, leading, controlling, and organizing. Some excellent examples are discussed below.
Innovation is the introduction of new goods and services that have been developed from an organizations understanding of what its consumers want. Whatever goods or services that may arise, they must be able to draw in the consumer’s attention. Organizations at the same time have to keep in mind the competition they are in with other companies. They are all trying to position themselves in the top spot to earn the consumers dollar, thus profiting. The new products that come from the organizations innovative efforts are released to the market in a manner that it is unique and attention getting. If the presentation is executed correctly; it will draw the attention of the consumer in… like a fish to a lure. Innovation is a fluid thing; management within
Internal and external factors greatly affect an organizations ability to accomplish the four functions of management. Management at every level is tasked with planning, leading, controlling, and organizing. As leadership applies the four functions to their day-to-day tasks, it is extremely important that things like; innovation, technology, globalization, ethics, and diversity are represented clearly within all aspects. The largest retailer in the world, Wal-Mart, takes these internal/external factors and incorporates them very effectively into every aspect of their business. The organization does an excellent job at teaching their management team to consider these aspects and include them when employing the four functions of management. They recognize the vitality that this adds to the organization and do well at ensuring that all bases are covered. Only growth can come to companies that can use effectively, the knowledge, and perspectives gained through identifying internal as well as external factors. Further- how to incorporate them into their; planning, leading, controlling, and organizing. Some excellent examples are discussed below.
Innovation is the introduction of new goods and services that have been developed from an organizations understanding of what its consumers want. Whatever goods or services that may arise, they must be able to draw in the consumer’s attention. Organizations at the same time have to keep in mind the competition they are in with other companies. They are all trying to position themselves in the top spot to earn the consumers dollar, thus profiting. The new products that come from the organizations innovative efforts are released to the market in a manner that it is unique and attention getting. If the presentation is executed correctly; it will draw the attention of the consumer in… like a fish to a lure. Innovation is a fluid thing; management within