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Internal and External Factors - Essay Example

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Internal and External Factors Name Instructor Task Date Introduction Management functions are activities that are carried out by managers to ensure that they bring together all the required resources for smooth running of the business and achievement of the set objectives…
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Internal and External Factors
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Download file to see previous pages Conversely, directing and controlling are about effective administration, inspiration, general evaluation and comparison of the outcomes with the intended ones. Thereby taking up the necessary corrective measures and installing the best of practices to achieve higher performances. This paper is an analysis of the effects that internal and external forces, as mentioned below, have on the above managerial functions. Globalization Globalization is an external factor. It is about businesses and organizations expanding their operations further than nationwide into worldwide markets. This means that the business will be producing and or offering goods and services in other foreign countries. Once an organization has acquired this status, its management style changes. For instance, the Siemens Company has to exercise an expansive planning whereby by it makes available all the logistics and the necessary capital to ensure it succeeds in all these markets. In its managerial functions, it has also to understand and consider all the legal and business cultures of the host countries. This may force the firm to deviate from its usual ways of operations. Globalization brings about increased rivalry since the global market is an arena for all businesses. The Siemens Company has therefore to carry out an expansive research to know exactly what its competitors are offering. It will furthermore strive to get the best technical and more qualified staff. On the other hand, its marketing activities will have to target the worldwide market. The implication of these is an increase in cost of operations. Technology Technology changes exceptionally fast and products that were fashionable at most a year ago have been rendered obsolete. The Company on its side has extremely minimum control over such revolutions. This is an external aspect that is mainly motivated by a fluctuating market and at the same time, these needs cannot be satisfied. This aspect has ever kept the Siemens Company on toes in matters of research and development. Apart from spending large amounts of capital on this issue, the Company always has to review its plans, procedures and methods in accordance with the recommendations from the research and development department. Technology more often has dictated that the Company evaluates and changes its management structure to realign itself to the new goals and objectives (Reddy, Appannaiah, & Sathyaprasad, 2010). Just like globalization, technology would require the firm to acquire the most appropriate state of art plants and machineries. It will as well be obligatory to employ the most competent and skilled human resources to carry out these technological requirements. Technological progresses have changed the way businesses get in touch with their customers. Today companies involve directly with clients. This effect requires a revolutionized approach in management. It calls for the introduction of data base management systems in all spheres of operations. The overall effects of technology will be passed on to the Company’s expenditure and as such may lead to cutting costs in other areas. For example, part of the work force may be laid off. Innovation Innovation is the ability of the firm to come up creatively with original ideas about new products, procedures and methods. Moreover, these ideas can be on how to improve on existing goods, action of events and techniques. It is therefore ...Download file to see next pagesRead More
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