Internal & External Factors
MGT/230
March 30, 2015
Internal & External Factors
The four functions of management are planning, organizing, leading, and controlling. Planning occurs within these functions of a business, and it helps to deliver strategic value. Organizing builds a dynamic organization and leading helps to mobilize people. Controlling is part of learning and changing as the organizations grows. All four functions of management are the key to effective management. Internal and external factors influence the decision-making process which in turn affects management. Competitive landscape is constantly changing; therefore, managers must consider people and business from around the world. Globalization, technology, innovation, diversity, and ethics require comprehensive planning, they are essential in every aspect of management. The Cincinnati Children’s Hospital Medical Center (CCHMC) is an organization that uses strategic planning and organizational tools successfully to manage and market medical services. Below I will have explained how the internal and external factors affect the four functions of management with CCHMC. I have also provided specific examples of globalization technology, innovation, diversity, and ethics.
Internal and external factors affect the four functions of management
Globalization is an external, driving force that has a major impact on the way managers run an organization. Companies that want to grow often need to go to international markets, where incomes are rising and demand is increasing. Companies need to learn about the business culture, such as the importance of cultivating business relationships and networks. Globalization also means that a company’s talent can come from anywhere. Another force that is making globalization both more possible and more inevitable is the Internet. Globalization affects small companies as well as large. CCHMC attract researcher from students...