Internal and External Essay

784 WordsMay 4, 20144 Pages
Internal and External Factors Crystal Lewis XMGT/230 04/06/04 Karen King Internal and External Factors In the world of management there are four different functions that are utilized: Planning, Organizing, Leading, and controlling. When used appropriately all factors work together to contribute to the success of reaching company’s goals. There are many factors that will impact the four functions of management; this is why it requires careful consideration and strategy. I will explain the internal factors and external factors that may impact a business. I will use Walmart stores as an example this is one of the biggest corporations growing at a rapid pace. Internal and external factors have a large influence on planning, organizing, control and leading. Manager’s deal with several that may impact the four functions. Being a previous Wal-Mart employee they strive on incentives for their employees. Planning events for employees to show appreciation or during holidays giving Toys for Tots and wrapping each gift and making sure we met a goal by Christmas for the unfortunate children. Each store has their own store manager and the store manager at my branch was very sensitive to his employees. Happier employees meant a lesser turnover rate which decrease cost in the hiring process. Yet he had to be strong and in control, employees will lose respect, making sure employees are performing and being productive. External changes can have a huge impact such as the changing or adopting new laws that may affect the company that is not at all controlled by the store management team; such as the change of suppliers or the need of increase in prices to remain profitable. As stated previously Wal-Mart is growing rapidly, Wal-Mart established itself globally by opening up a chain not only in North America but expansions in Central and South America. Wal-Mart’s goal

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