External/Internal Factors of Management

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External/Internal Factors of Management Wal-Mart is an organization that has been extremely successful in achieving its goals of becoming top retail store in the world. Managers for this organization must plan, organize, lead, and control each component of this organization in order to secure its success. There are factors, internal and external, that can impact these four functions within an organization. Management 's responsibility is to take these factors into consideration to ensure that business will be successful. These factors are its strengths, weaknesses, opportunities, threats (SWOT). (Bateman-Snell, 2009)
External and Internal Factors After analyzing the external environment and internal resources, strategic managers
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(Wal-Mart, 2007)
Management Functions Wal-Mart 's management team focused strongly on the four functions of management to ensure that their employees were well trained and all guidelines were being met. Below are some examples of how the four functions were implemented.
Planning is an essential management function. In every organization managers must plan a wide variety of actions as well as consequences if those actions do not fall through as directed. (Bateman-Snell, 2009) Managers must also observe long-term and day to day operations to assure that the goals of the company are being met. Planning ahead allows the management and the employees to observe there weak areas and build them up so that the goal will be accomplished. Organizing is another important function because this is where managers will need to get the needed resources together to be able to achieve the goals that were identified during the planning phase. (Bateman-Snell, 2009) This function also defines the role and responsibilities of each team member. The next function is leading. Behind every company are a true leader and even better one will have faithful followers? I believe that this function is the most important of all because without a good leader one has no strength. Leaders are people who make sure that the job gets done by stimulating a high performance level out of their employees (Bateman-Snell, 2009). They are the ones that build up the
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