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Four functions of Management Internal and External Factors - Assignment Example

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The fur functions influence the utilization of the numerous resources in the organization. The four basic functions ensure that managers uphold the objectives of the…
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Four functions of Management Internal and External Factors
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Download file to see previous pages When considering the internal and external factors in the management of the above resources in an organization, such factors as globalization, diversity, technology, and ethics among many others affect the four basic functions of management as discussed in the essay below.
Globalization is a contemporary social feature arising from the use of the efficient means of both transport and communication. Globalization in business refers to the engagement in business beyond the boundaries of a country. This implies that business enjoys a large market thus increasing the likelihood of success. Globalization requires increased presence of a business in the market in order to increase the coverage of the market. Managers must therefore plan effective operations of the business in order to sustain appropriate operation. Globalization for example requires increased resources since the cost of doing business will definitely increase. The organization must therefore have adequate human resource among other significant resources in order to enhance the success of the company. Managers thus portray their leadership skills as they motivate the employees thus increasing the company’s productivity.
Controlling is a fundamental human function mandated with the process of measuring achievements against the organizations’ goals and established objectives. Growth and sustained profitability is always among such established objectives. Globalization is a type of growth thus compelling managers to plan for the utilization of the resources and portray effective leadership skills in order to sustain the growth of the company as it ventures in the global market. A company must employ appropriate production and marketing strategies in order to realize the desire profitability often associated with globalization. Diversity is an equally important factor that arises with globalization and ...Download file to see next pagesRead More
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