External and Internal Factors Essay

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External and Internal Factors Affecting General Electric
Management: Theory, Practice, and Application

External and Internal Factors Affecting General Electric

We will use General Electric, also known as GE, to illustrate how internal and external factors affect the four functions of management. We will explain how globalization, technology, innovation, diversity, and ethics affect the four functions. We will also explain how delegation can be used to manage the different factors. General Electric has come a long way since its inception in 1876 by Thomas Edison, several of his early business offerings are still a part of General Electric to this day. General Electric has become one of the greatest innovative companies in business
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To achieve the goal of creating healthy and environmentally friendly products and providing services, General Electric uses new technology and research to aid in planning products implementing new ideas. The General Electric Company (2011) website has many articles and videos discussing products such as floating solar panels, artificial photosynthesis, biofuel for the aviation industry, and solar carports to charge electric cars from solar power. None of these projects are achievable if General Electric management does not thoroughly plan, organize, lead, and control the ideas from conception to completion.
According to Bateman and Snell (2009), “Strategies developed around the cutting edge of technological advances create a competitive advantage; strategies that ignore or lag behind competitors’ technology lead to obsolescence and extinction” (p. 56). Using breakthrough technology is essential to General Electric’s success. The ground-breaking ideas of General Electric’s employees uses the advances in technology to improve existing products, create new products, and develop safe and efficient products in the future.

Innovation
Planning for innovation in an organization requires managers to use all four functions of management. Innovation affects the four functions of management

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