How Internal and External Factors Impact the Four Functions of Management MGT/330

Analyzing GE’s corporate-level strategy from 2001 – present with Jeff Immelt as CEO, GE focuses on the growth and development platforms. Technology is the key driving force for GE’s future and growth. Advancements in industries such as energy, health and aviation fueled demand for cleaner and more efficient energy production. GE identified new markets with potential high-growth that offered attractive returns through strategic mergers and acquisitions. As CEO, Jeff Immelt established a process for identifying projects that offered attractive growth potential which were then nurtured and treated as special projects or initiatives that were not subject to strict budget constraints. Immelt introduced GE’s three strategic imperatives as: (1) sustaining its strong business model, (2) strengthening the business portfolio, and (3) driving its growth initiatives. www.ge.com

GE is recognized as one of the oldest and most successful companies in history. “The key to its success had been to combine massive size with constant adaptation. Over the decades, GE had adapted both its business portfolio and its management systems to the demands and opportunities of a changing world” (Grant, 2016). GE was not only a big successful company but, for many other diversified companies, it was also a “model of management” from its inception and through the 20th century. At the end of the 20th Century, GE had a legendary CEO, Jack Welch, who transformed the company’s portfolio from a manufacturing business to financial services. At the time of his retirement, GE Capital accounted for nearly half of GE’s revenue and the bulk of its assets (Grant, 2016).

* Technical Leadership – Immelt identified technology as a key driver of GE’s future growth and emphasized the need to speed up the diffusion of new technologies within GE and turn the corporate R&D into an intellectual house.

In relation to the four functions of management, there are several internal and external factors that affect an organization’s success. Using DaVita, Inc. as an example, we can look at each internal factor that would affect the function of management and the external factors. Internal factors would include ethics, innovation and diversity while external factors would include globalization and technology.

1. GE’s success in producing some of the best CEOs of the world can be mainly attributed to its policy of meritocracy based on measured performance. A strong focus on developing management talent resulted in one of the most refined and efficient HR management processes in the world. Some of the practices that contributed to this success story are:

We find, develop and produce essential sources of energy. We turn these sources into produce that people need everywhere. The world needs energy and this need is growing. This energy will be in many forms. It is, and will always be, vital for people and progress everywhere. We expect to be held to high standards in what we do. We strive to be a safety leader in our industry, a world-class operator, a good corporate citizen and a great employer. We are BP. (BP, http://www.bp.com/en/global/corporate/about-bp/company-information/our-values.html)

External and internal factors such as globalization, technology, innovation, diversity and ethics can greatly impact the four functions of management. Functions such as planning, organizing, leading, and controlling can be influenced by these different internal and external factors since organizations need to ensure that they are addressed properly for business success. In addition, knowing the external and internal factors help organizations in identifying the business risks that exist in the environment in which they operate. This paper will focus on United Way, a non-profit community-based organization that was initially found in communities, large and small,

There are various internal and external factors that affect the four functions of management in business. Some of these internal and external factors are globalization, technology, innovation, diversity, and ethics. As among the biggest retailers and employers across the world, Wal-Mart has several issues to take into consideration with regard to the four functions of management. When undertaking planning, organizing, leading, and controlling, Wal-Mart’s management will have to take into account precisely what external and internal factors will have an effect on planned managing alternatives.

• Jack Welch was an “entrepreneur …willing to take well considered business risks – and at the same time know how to work in harmony with a larger business entity”

Management is the process of working with other and capital to achieve organizational goals. Also management is defining as creative problem solving. This creative problem solving is accomplished through the four functions of management: planning, organizing, leading and controlling. The intended result is the use of an organization 's resources in a way that finish its mission and objectives. Every good manager, supervisor or leader does those tings both effectively and efficiently.

Analysis - GE has likely been so successful over the years because of its ability to foresee major trends and capitalize upon them. In the 1960s, for instance, GE was one of the eight major computer companies. Even recently, since 1986, GE has continued to acquire several organizations; portions of NBC, wind manufacturing, universe pictures, aerospace industries, international firms, software and hardware manufacturing, even oil companies abroad. The company culture describes itself as not one company, but many each unit a vast and complex enterprise in and of itself, with a corporate

I will be providing an overview of the four functions of management and how it relates to the agency I am currently employed with, the South Carolina Department of Health and Environmental Control (SC DHEC).

GE managers also note there is no shortage of partners willing to enter into a joint venture with the company. The company has a well-earned reputation for being a good partner. GE is also well known for its innovative management techniques and excellent management development programs. Many partners are happy to team up with GE to get access to this know-how. The knowledge flow goes

Since 1971, Starbucks has created more buying power, blending abilities, roasting methods, and more excellent service experience for coffee enthusiasts. Starbuck products include more than 30 blends of coffee, handcrafted beverages, merchandise, fresh food, entertainment items, consumer products, and finally one of the most popular gift cards around; the re-loadable store valued-card. Starbucks is found in all 50 states plus the District of Columbia along with 43 stores in countries outside the United States. Not only does Starbucks have robust products with international presence, it has a robust employee benefit package and a corporate social responsibility commitment supported by 170,000

A) For me it would be quality & risk management, because it’s over arching and takes into account all aspects of the operation of the village. For instance it looks at clinical, financial, food services, H&S, infection control, human resources, S&M and property.