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

1775 Words Feb 11th, 2008 8 Pages
In order to illustrate how internal and external factors impact the four functions of management -planning, organizing, leading, and controlling- our team has chosen General Electric (GE) Company as an example. GE has been in business since the year 1890, when the company began operating under Thomas Alva Edison (inventor of the incandescent light bulb). Since then GE has growth and mature as one of the greatest multi innovator firm in business history, in addition GE has become an international company expanding its products and services around the world.

Therefore we will explain how external and internal factors like globalization, technology, innovation, diversity, and ethics at national and international level will impact the way GE
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A manager has to teach his team to adapt to changes that can come from technological advances. This way his team can realize their chores independently because technology is an important factor forhaving a successful company. This way the manager can have a better control and dedicate to the other functions his position requires.

The third factor is Innovation. GE is at the forefront of innovation in the technological and services field. With 11 different operating units that make GE a Fortune 500 Company, it has to be constantly working to create and implement new technology and better service for the clients they serve. One example of its innovation prowess is that over the 110 plus year history of GE, it has amassed more than 67,500 patents and the firms scientists have been awarded to novel prices and numerous honors. GE needs to be innovating constantly because it operates in more than 100 countries around the world and generates approximately 45 percent of its revenues outside the U.S. mainland. A manager at GE needs to put innovation to work and function for his or her team. In order to do that the manager has to plan ahead taking in consideration that innovation leads to changes and he and his team have to he prepared to undertake them with or with out notice.

A manager at GE has to prepare an organization that is
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