Internal and External Factors Individual Paper
MGT 230
July 13, 2015
Internal and External Factors Individual Paper
There are four management functions found in probably all businesses around the world, and one company that has become very successful with these functions is Walmart. These functions are planning, organizing, leading, and controlling. Planning establishes the definite goals the company would like to accomplish. The Walmart we all know and love to shop at came from “Sam Walton’s goals for great value and great customer service” (Walmart, n.d.). Organizing prepares the corporation on how to achieve these goals. Leading is done when the store manager of Walmart motivates and guide the employees to reach these goals set by Mr. Walton successfully. Controlling can be complete by the CEO reviewing the progress of all the stores and make any changes to complete the goal.
There are internal and external factors that affect the four functions of management. Walmart’s ability to recognize these factors allowed them to be proactive in their approach to the future. When most individuals think about Walmart, they think about the mega retail that everyone know today. It usually never crosses anyone mind that Walmart opened its first store in Roger, Arkansas in 1962. Since opening in 1962, Walmart has grown into a global organization. Walmart is a worldwide leader in recognizing diversity, ethical needs, technological advances, innovative ideas, and the globalization of the corporation. As a result of this today, they span the globe 11,000 retail units under 65 banners in 28 countries and e-commerce websites in 11 countries. They employ 2.2 million associates around the world of which 1.3 million are in the U.S. alone. According to Bateman and Snell (2011, p. 4), "Companies that want to grow often need to tap international markets, where incomes are rising, and demand is increasing."
Diversity
Walmart has over 11,000 stores globally and...