Internal and External Factors

1610 Words7 Pages
Internal and External Factors Paper XXXXXXXXXXXX MGT/230 xxxxxxxxx xxxxxxxx Internal and External Factors Paper The purpose of this paper is to explain how internal and external factors affect the four functions of management in the Wal-Mart Corporation. For any organization to survive, irrespective of its size, it must develop and implement its own management concept. Management is the process of working with people and resources to accomplish organizational goals (Bateman & Snell, 2011). The four traditional functions of management include planning, organizing, leading, and controlling. The Wal-Mart Corporation has managed to use the internal and external factors of these functions to their advantage. With their…show more content…
The program’s vision was redefined in 2002 to meet public image issues, becoming the statement “sourcing ethically through a socially responsible program” (“Ethical Standards Program”, 2006). The program works to train perspective suppliers in environmental, health, safety, and labor requirements to meet audit standards. Factories and companies on Wal-Mart’s supplier list are subject to unannounced audits to ensure they are meeting the standards set by the Ethic Committee. Through these organization and control measures, Wal-Mart has made great strides in correcting some of the worst conditions in many of the Asian countries they use as their suppliers. According to the “Ethical Standards Program” (2006) website the company also began the Factory Five Program in 2006. The program serves as a forum in which factory management (from five factories per region in China) regularly meet with suppliers and the Ethical Standards team. Time is spent identifying and resolving complex issues of noncompliance identified by audits. They hope to share knowledge and changes that come out of this forum with others in the industry. Wal-Mart is working hard to show leadership in the ethics market and to pass knowledge and training onto others to encourage ethical practices in all their stakeholder’s corporations. The ultimate

More about Internal and External Factors

Open Document