Mgt/230 Week 2 Team Assignment

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Internal and External Factors MGT/230 Week 2 Team Assignment

Internal and external factors greatly affect an organizations ability to accomplish the four functions of management. Management at every level is tasked with planning, leading, controlling, and organizing. As leadership applies the four functions to their day-to-day tasks, it is extremely important that things like; innovation, technology, globalization, ethics, and diversity are represented clearly within all aspects. The largest retailer in the world, Wal-Mart, takes these internal/external factors and incorporates them very effectively into every aspect of their business. The organization does an excellent job at teaching their management team to consider these aspects
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The company continues to use globalization as a method to continue to expand their business every day.
The term “ethics” is defined as moral principles that govern a person’s or group’s behavior. When speaking of business ethics, one is referring to the study, and examination of moral as well as social responsibility relating to business practices, also including its application to the four functions of management as well as the decision-making process in business (Batesman, pg.167). This internal factor can easily influence the how an organization goes about accomplishing the four functions of management. Wal-Mart, like most businesses believe they uphold ethical standards in their business practice. According to Wal-Mart’s statement of ethics, leading with integrity in a workplace is key to running a business (Wal-Mart Ethics pg.10). Leading with integrity, and expecting teammates to work with integrity is one of their main focuses- Wal-Mart’s original founder Sam Walton said,” that it has always been an ethically led company” (Wal-Mart Ethics pg.4). They follow their three basic beliefs: respect for individuals, service to the customers, and striving for excellence (Wal-Mart Ethics pg.5). Although organizations may have their code of ethics, they still come across the occasional ethical problem in the company. Wal-Mart for example, had an issue with an employee named, Chalace Epley Lowery. Lowery believed that another
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