Internal and External Factors

In: Business and Management

Submitted By domineeklaren
Words 1040
Pages 5
Internal and External Factors

Latonia Parker

MGT/230

April 13, 2015
Kensinger

Internal and External Factors

Planning, organizing, controlling and leadings are the four main functions of management, which are affected by internal and external factors. Internal factors are business events that happen within the corporations while external factors are business events are carried outside the actual corporation. Planning involves setting goals and outlines for the direction of the company. Organization happens as the company goes about achieving these goals that were planned. Leading is important to management because leaders are needed for success. The leaders of the company must train and motivate employees to reach the company goals. Controlling plays a major roll by having a say in the direction your company goes. Other factors that affect the four main functions of management are globalization, technology, diversity, innovation, and ethics. These factors affect the four functions of management by influencing the decision making process that occurs within management.
Globalization
Globalization is an external factor because this event takes place outside the actual corporation. This event is described as the spreading of businesses and technology throughout the world. For example, The Coca-Cola Company began in the state of Georgia. Since its introductions to the world in 1886, Coca-Cola has expanded and coke products are now in over 200 countries according to The Slayor Foundation’s article Globalization and the Coca-Cola Company. When companies plan to globalize, consumer needs must be considered. If the demand for the product is not high where a company plans to globalize, then expanding to that specific region will not be ideal. However if the demand is high in that particular reigon, globalizing to that area will be in the…...

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