Internal and External Factors
Internal and External Factors
Internal And External FactorsTerri Campbell6/14/14XMGT/230Gary CedroneGlobalization 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