MGT 330 Week 2 Learning Team Assignment External Internal Factors

Apr 9th, 2015
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Running head: EXTERNAL/INTERNAL FACTORS External/Internal Factors Team CMGT/330Fritz BeiermeisterThe four functions of management, planning, organizing, leading, and controlling, can be found in various types of business environments. There are several different factors that can impact the four functions of management. These factors are globalization, technology, innovation, diversity, and ethics. Let us look at how these factors are specific to the way Wal-mart, a leading retail store runs the business. Globalization and the face of retail markets is proof that every object of thing is subject to change. The past decade has experienced many changes in the translation process, services and formats of retail markets. Retailing, which is the last aspect of distribution of market strategy, acting as a bridge between the mass producers of products and the final consumer, has spread to every nook and cranny of the world? Wal-mart has had their eye on this huge unorganized retail market. Through liberalization, privatization and globalization, potential players throughout the globe are pouncing on the opportunity for commerce.Technology is a big factor in today's business culture. Wal-mart strives for running a centralized information system for the operations all over the world. When management decided to centralize the systems, there was much planning and thought put into where and how this would occur. Management created objectives and then set action plans

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