Mgt 230 Internal & External Factors
Internal and External Factors
Stella Aybinder, Brook Erhart, Tavares Liggons, Veronica Mora, and Felicia Thompson
MGT/230
May 21, 2012
Tammy Patchin
Internal and External Factors
Wal-Mart discount store was opened by Walton, in Rogers, Arkansas, in 1962. On October 31, 1969 the business incorporated as Wal-Mart Stores. Wal-Mart was opened with the objective of helping people save money and live better, which became Wal-Mart’s slogan: Save money. Live better. Wal-Mart has changed the way business is conducted worldwide by making a significant impact on the retail industry. Through careful study of the precedence set by Wal-Mart management, we can observe how the organization utilizes external and internal factors to affect the four functions of management: organizing, planning, leading, and controlling. A few of the internal and external factors which Wal-Mart has excelled in applying the four functions of management are globalization, technology, innovation, diversity, and ethics.
With stores located in 27 countries, globalization has had a profound effect on all four functions of management within Wal-Mart. Wal-Mart created plans to meet the environmental goals of being completely supplied by renewable energy, creating zero waste, and selling products that sustain the environment. Wal-Mart’s management has exhibited the ability to organize, diversify, and expand their supply chain resulting in the expansion of their brand to other countries. As Wal-Mart seeks to build their financial, physical, and human resources in other countries; they become reliant on local workers to operate and manage the stores. Local workers also assist the organizations ability to connect with potential customers. Every organization requires good leadership and Wal-Mart ensures its leaders drive the company toward its goals of protecting the environment. Wal-Mart leadership actively mobilizes workers and meets goals. The leadership helps to ensure that Wal-Mart remains one of
Stella Aybinder, Brook Erhart, Tavares Liggons, Veronica Mora, and Felicia Thompson
MGT/230
May 21, 2012
Tammy Patchin
Internal and External Factors
Wal-Mart discount store was opened by Walton, in Rogers, Arkansas, in 1962. On October 31, 1969 the business incorporated as Wal-Mart Stores. Wal-Mart was opened with the objective of helping people save money and live better, which became Wal-Mart’s slogan: Save money. Live better. Wal-Mart has changed the way business is conducted worldwide by making a significant impact on the retail industry. Through careful study of the precedence set by Wal-Mart management, we can observe how the organization utilizes external and internal factors to affect the four functions of management: organizing, planning, leading, and controlling. A few of the internal and external factors which Wal-Mart has excelled in applying the four functions of management are globalization, technology, innovation, diversity, and ethics.
With stores located in 27 countries, globalization has had a profound effect on all four functions of management within Wal-Mart. Wal-Mart created plans to meet the environmental goals of being completely supplied by renewable energy, creating zero waste, and selling products that sustain the environment. Wal-Mart’s management has exhibited the ability to organize, diversify, and expand their supply chain resulting in the expansion of their brand to other countries. As Wal-Mart seeks to build their financial, physical, and human resources in other countries; they become reliant on local workers to operate and manage the stores. Local workers also assist the organizations ability to connect with potential customers. Every organization requires good leadership and Wal-Mart ensures its leaders drive the company toward its goals of protecting the environment. Wal-Mart leadership actively mobilizes workers and meets goals. The leadership helps to ensure that Wal-Mart remains one of
References: Maital, S. (2008, March 5). TIMnovate. Retrieved from http://timnovate.wordpress.com/2008/03/05/business-model-inovation-at-walmart/ Price, R. M. (1996). Executive forum: Technology and strategic advantage. Retrieved from http://search.proquest.com/docview/216149218?accountid=35182 rediff.com. (2004). The Walton Family. Retrieved from http://www.rediff.com/money/2004/sep/28sld4.htm Wal-Mart Corporate. (2011). About Us. Retrieved from http://www.walmartstores.com/AboutUs/7603.aspx Wal-Mart. (2012). Home Page. Retrieved from http://www.walmartstores.com/