Mgt230 Internal External Factors

1038 Words Sep 30th, 2015 5 Pages
Internal and External Factors Paper
Avon Banks
MGT/230
September 29, 2015
Zina Hampton

Introduction It is so important that managers understand how to manage. This word manage is not just getting employees to conform to a specific thing or a standard. As a leader being able to manage involves planning and leading, organizing and controlling. A good leader or manager may not be able to hone these four areas as an expert right away, but with mentoring, training, and time from upper and middle management the excellence will come. Management is the process of working with people and resources to accomplish organizational goals. Good managers do those things both well and proficiently. To be successful is to accomplish
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There should be key questions that need to be answered in order to continue to move forward progressively. Questions such as: Can your current staff carry out its part of the plan or will additional training be needed? Will the company financially be able to handle a costly investment to commit to new projects? Questions of this magnitude will enable CEOs and executives to make decisions on current resources and functions as well as performance levels. Some internal factors of any company would be financial, marketing, operations, human resources. The financial factor would include examining areas such as strengths and weaknesses from current documentation, tax statements, historical and industry numbers. The marketing factor would include areas such as marketing activities, market segments, and the competitor’s position. This factor also has strengths and weaknesses. The next area is the operations factor which includes production, manufacturing, along with strengths and weaknesses also. Human resources would include strengths and weaknesses along with management level, employees, activities that line up with human resources such as recruitment, training, compensation, and promotion. In regards to globalization it is an external factor and everywhere in the twenty-first century. As a function of primarily free economies, globalization allows businesses and individuals to interact and trade as part of a world economy. Globalization allows businesses to go

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