Internal and External Factors

Internal And External Factors

Terri Campbell

6/14/14

XMGT/230

Gary Cedrone

Globalization has affected management in several ways. There are more businesses

that are being created with globalization in mind. Globalization affects management

through competition, customer base, increased opportunities and market base. Most

companies would consider their market base to be in their country. With globalization

they can do business around the world. This can increase production. It has also

affected management in the sense that employees can transfer from one place in the

world to another to work. Expanding a business is an option for big and small

companies now because of globalization. Management may have more work to do

when globalization is involved but it gives them a chance to learn new ways to

accommodate other cultures and their needs.

Technology affects management in the way that it enhances the tasks that managers

have to perform. Technology is adapted to serve the functions of management.

Knowing how it can enhance each function is important in the ability to effectively

implement these enhancements. Technology allows managers to be able to actually

hold conversations face to face without having to be in the same origin as others. It

helps them to communicate quickly with their employees whether they are in or out of

the office. It can help managers to simplify the planning process. They can quickly pull

up any and all the information needed to successfully put together a plan of action.  

Technology helps management to keep track of the plans they have put into action. By

having all of the information from stock to employee records they can simply go to the

computer and look up the things they need the information to.

Companies are able to grow through innovation. Managers need to use innovation while

they are in the planning process. They can introduce new ideas for procedures and

encourage their planning team to find new ways to be better than their competition.

They can be better than others in their market by being innovative during the planning

process. Innovation is what needs to happen in order t continue to stay ahead of others

in your market. If you do not use innovation then you will be at a stand still and your

competition will pass you by and your business will start to fail.

Diversity is represented by age, ethnicity,  gender, race, education, etc. There are laws

that are in place to make sure that companies and businesses do not discriminate. This

also allows for a very diverse group of people in the workforce. Diversity in the

workforce helps to add individual sets of skills and knowledge to the company and to

the business as a whole. By utilizing these different skill sets the company can organize