Internal and External Factors in Management
XMGT/230
Internal and External Factors
I have been in the field of property management since I began my career and I am familiar with the organizational unit of a fee-based property management company. These fee-based property management companies are hired by multi-family real estate owners to manage the apartment communities that they own. This business, like any other is subject to the four basic functions of management. The four functions of managing any company or field are: planning, organizing, leading and controlling. These functions are not necessarily kept in a certain order but must be followed in order to effectively operate a business. A manager’s
…show more content…
Motivated, top performing employees became those that leapt out of the boundaries and thought outside of the box. These employees were the ones introducing new ideas, products or repackaging business presentation to the world causing companies to reinvent. The innovation revolution called for a much different management style when it came to leading these employees. Property management companies along with technological advances encouraged innovators to work from home on new ideas in an effort to keep them motivated. The nine-to-five work-day adapted to fit the mold of the employee’s schedule. Diversity can be described as a new variety of individuals were present in the work force. Many business owners recognized that this provided a broader range of talent within their field. Leading a diverse team of employees proved much more challenging than leading a uniform team of employees in the property management industry. When a uniform team shares a common goal, they normally share the same motivating factors that go along with that goal. When a diverse team of people are considered, most will not share the same motivating factors. Therefore, property managers must change their management style to accommodate the needs of a diverse staff. They must understand each employee as an individual and nurture that employees needs in order to motivate and then lead to innovative thinking. Different leadership style then
Managers use conceptual, human, and technical skills to perform the four management functions of planning, organizing, leading, and controlling in all organizations.
2.2.2 The managerial functions. For effective business management to happen, scientific administration proponents state that there are four functions that need to be performed: planning, organizing, executing, and controlling (Stoner, 2008). Each of these
The four functions of management, planning, organizing, leading, and controlling, are very essential in building strong organizations and even stronger more effective teams. Planning, organizing, leading, and controlling are the functions of management. These function activities must be preformed by all managers regardless of their industry level, title, or the task they have at hand. These four management skill are used when ever a project or a task is at hand. Even in the field we are working in, many of us may have been using the four management functions and not noticed what they were, or we may have been a part of a team that was lead by the functions of management and not noticed what was
The four functions of a manager are planning, organizing, leading, and controlling. These are key elements that managers must understand to run a successful organization. I will view each concept as well as their roles to acknowledge how these functions have been related to my personal experience in the work environment. Behind the scenes of a manager, they spend an equal amount of time planning so that he or she can successfully achieve the leading and controlling functions. These functions are standard for any industry that is striving to maintain a strong organization. While reviewing this paper, try to think of the four functions as a method that is established to build on each other. The four functions must be performed efficiently, and when done correctly, an organization will reap the accomplishments from a well-defined plan. My own experiences of how the four functions operate illustrates that each role requires a manager to devote time and patience in order to ensure that the main principles are achieved.
The purpose of this paper is to analyze the culture, the internal, and the external factors in an organization. Our job is to examine the entirety of the organization. That would include the structural and environmental elements that effect the operation of the business. We will also take an in depth look at the perspectives of employees, managers, owners, and clientele.
There are four functions of management: planning, organizing, leading and controlling. The four basic principles of management found in all businesses and corporations. Management is a process designed to achieve an organization's objectives by using its resources effectively and efficiently in a changing environment.
The McDonald’s Corporation is a present and ongoing future global market leader. Operating in one hundred plus countries McDonald’s has to focus on the international and local trade and investment. To do so this global market leader must utilize new and creative technology to allow companies/businesses to develop new products/solutions to further the company’s success. Customer satisfaction and advertising is the common goal. To meet these demands McDonald’s has to strongly urge it’s components to think of what McDonald’s has to gain from diversity. From a daily scope McDonald’s reaches just about every culture, which leads to many unclear
internal factors influencing that decision which should be taken in account in order to have the correct analysis of the environment surrounding the business and process. This chapter explains about the external as well as internal factors which are viewed as the drivers for the restructuring.
The four task of management is: planning, organizing, leading and controlling. Think about the four tasks as a process as each step builds on the other. The set of cone activities that defines the role of manager in a business environment. The four functions of management include planning, or deciding upon business goals and the methods to achieve them; organizing or determining the allocation of people and resources; directing, or motivating, instructing and supervising workers assigned to the activity; and control, or analyzing metrics during business activities to impure completion of tasks and identify areas for improvement. (businessdictonary.com) Decide upon the goals that you would like to accomplish when starting your business putting a plan in motion in to get started, planning come first, you have to plan before you can do anything in management. If you don’t plan you can’t achieve what you have in mind. If you are in a management position, you need organization to organize and put things in motion; if there’s no organizing there can be no success.
Managers are responsible for the oversight of four functions of leadership to accomplish organizational goals. Those functions are planning, organizing, leading, and controlling. (Bateman & Snell, 2013). They ultimately ensure that job assignments are carried out effectively and efficiently. The four functions have evolved over the years as technology, culture and globalization have influenced change.
Internal and external factors have a large impact on the four functions of management within an organization. What these factors are and the kind of impact they have depends on the business and its particular goals. McDonald’s goal is reflected in its mission statement which is to “be our customers’ favorite place and way to eat” (McDonalds, 2009). In order to achieve this goal, McDonald’s executives and managers must follow the four functions of management which are planning, organizing, leading, and controlling (Bateman and Snell, 2009). They must also understand how internal and external factors impact these functions. Internal factors that McDonald’s managers need to consider include the amount of food to
During the 1970s and 1980s, the Republic of Korea achieved exceptional economic development. However, the government focused on regional development rather than infrastructure development (Hine & Chelliah, 2009). Therefore, the rate of infrastructure investment had been decreasing in the 1980s in particular, which drove a lot of traffic bottlenecks in many regions, and high traffic congestion costs in roads, railways, and seaports. At the beginning of the 1990s, the government acknowledged the limits to fund the needed construction of infrastructure facilities and felt the need to mobilize new sources to invest infrastructure (Kim et al., 2011).
The roles of management are the four basic management functions (planning, organising, leading and controlling) and six additional management functions (decision making, communication, coordination, delegation and disciplining). The basic management functions are the most important steps in the management process and are performed consecutively during each activity during the simultaneous performance of different elements of the management function. The six additional management functions are usually performed in some or other combination with the four basic management functions.
The 4 contemporary management functions have been around for years: planning, controlling, leading and organizing.
The four functions of management are planning, organizing, leading, and controlling. The planning function establishes a way to attain the desired objectives, resolve issues and facilitate action. The purpose of the planning function is to align the vision, culture, employees and the organizational structure with the strategies, and this involves multiple levels across the organization. Ultimately, planning is a needed function for business success (Huff 2009).