Internal and External Factors
In the world of business, managers and management exist in every type of business or organization. Whether a person or a group of individuals manages a grocery store or a multi-million dollar industry, the process of managing basically consists of similar tasks in all businesses. These tasks are mainly based on four general functions; planning, organizing, leading and controlling. These functions serve an important part in how management achieves its goals and vision. Each function is essential and one cannot function well without the others. However, these major four functions of management (planning, organizing, leading and controlling) can be affected by internal and external factors in a business environment, such as globalization, technology, innovation, diversity, and ethics.
For the purpose of demonstrating how the previously mention internal and external factors affect the four functions of management, I decided to use Wal-Mart as an example. As we all know, in recent years Wal-Mart has grown rapidly to become one of the world largest businesses. Globalization has been an important aspect for the successful growth and survival of this organization in the world market. However, globalization definitely has complicated Wal-Mart’s general management process. Going global has contributed to the creation of a workforce that has added the cultural and language factors to the equation. As a result of this globalization and other added factors, Wal-Mart has adopted regional personnel policies and procedures that take into account the social and cultural differences of the region or country where the particular store is located. Globalization basically has forced Wal-Mart to adjust their policies and management process to reflect the cultural needs of the area (depending on the country and their costumes). In other words, this company has taken into account that...