Internal And External Factors That Affect The Four Functions Of Management

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Internal and External Factors
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.
A few internal factors affecting Wal-Mart’s four management functions include the growth and development of future products, in order for Wal-Mart to be competitive with Trader Joe’s, Whole Foods and Kroger, Wal-Mart must start offering organic product. Recently Wal-Mart announced they will offer organic products 25% less then the competitors. Jack L. Sinclair, executive vice president of Walmart U.S.’s grocery division said, “We’re removing the premium associated with organic groceries”, the Wild Oats organic products will be priced the same as similar nonorganic brand-name goods. Wal-Mart will introduce “Wild Oats’ product to 2000 stores in the coming months. According to Jack L. Sinclair, “What we don’t want to do is launch it in 4,000 stores and then not be able to supply those 4,000 stores in the short term,” (New York Times, 2014). Another factor in

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