MGT 330 Week 2 Learning Team Assignment External Internal Factors
MGT 330 Week 2 Learning Team Assignment External Internal Factors
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Date Created: 11/12/15
ExternalInternal Factors 1 Running head EXTERNALINTERNAL FACTORS ExternalInternal Factors Team C MGT 330 Fritz Beiermeister February 8 2010 The 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 Walmart 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 Walmart 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 to carry out the desired overall goal Once the objectives were established and location was chosen the management team needed to create an organizational chart that would re ect the people in charge of the implementation It was up to management to create job duties and responsibilities and begin the organizational development of the centralized location When the implementation team was established management was responsible for leading them in the correct path Some of the larger projects were broken down into smaller projects according to C10 Linda Dillman 2005 The right amount of knowledge and good motivation is needed to keep the team on track in making the centralization a success It is management s responsibility to stay on top of the team by controlling his or her actions and production When implementing this type of system there are going to be many changes along the way WalMart Stores Inc operates WalMart discount stores Supercenters Neighborhood Markets and Sam s Club locations in the United States The Company operates in Argentina Brazil Canada China Costa Rica El Salvador Guatemala Honduras Japan Mexico Nicaragua Puerto Rico and the United Kingdom Innovation is something Walmart is spending time and energy on The goal is create higher efficiency stores compared to the less efficient supercenters in the past The company is equipping all new stores with LED lights and retrofitting hundreds of existing stores with this newer energysaving technology WalMart is also installing solar panels on several stores in California and Hawaii that can provide up to thirty percent of the power for those stores The planning function in the stores for the energy saving involved innovating organic household hazardous waste and oil based waste to enable the percentages to hold true Organizing WalMart organizes the stores stock using forklifts in the loading docks of the warehouse The company has used innovation to provide alternative battery technology in the forklifts enabling them to last longer and provide more energy Innovative leadership from WalMart includes state of the art monitoring systems in the stores and the use of smart phones by the management teams This allows the management to successfully lead from far and near The controlling aspect of function management for the Wal Mart company utilizes innovative approaches the closed monitoring instore systems and stockroom computers The store has enabled checks and balancing regarding store stocking and controls the incoming supplies enabling the stores to maintain fullness Diversity has become recognized as a tremendous business opportunity for companies across the globe Fresh thinking multiple perspectives and creativity are just a few of the benefits realized by firms who take advantage of such a business opportunity WalMart has been on the forefront of promoting diversity initiatives and much like any external or internal factor diversity affects the four functions of management Upholding an image of being a culturally diverse company is important especially in recent years In 2006 as part of a planning phase to increase diversity within the company Wal Mart s upper management team created a panel of outside experts to advise top executives on promoting diversity in its work force Kabel 2006 This panel was created to consult Wal Mart s upper management on diversity issues and how to promote diversity in the workplace Given the initial push for increased diversity in 2006 WalMart most likely viewed data that allowed them to pinpoint which areas of the organization were lacking in diversity Such an action would allow them to organize their resources in order to improve their figures Improved diversity comes not only from actively hiring a wide range of cultures but also from utilizing a wide range of ideas and being sensitive to a culturally diverse work environment WalMart must direct and delegate to its managers in order to encourage diverse hiring procedures The large retail store must ensure its diversity as a company by establishing hiring performance standards and equal opportunity initiatives and by monitoring its own diversity statistics to ensure compliance Companies are focusing on the ethics within the organization In efforts to do so a recent case at WalMart displayed problems for employees A few months after going through a new employee training session with a heavy emphasis on ethics Chalace Epley Lowry acted on the guidance to report any activity that seemed the least bit suspicious Lowry told the company s ethics office about what she thought could be a case of insider trading by one of her supervisors Mona Williams vicepresident of corporate communications The company determined that Williams had done nothing wrong but Lowry s identity was known to Williams leading Lowry to conclude that she could no longer work in the department See Business Weekcom June 122007 WalMart s Latest Ethics Controversy WalMart showed poor leadership by allowing Chalace Epley Lowry s identity to be known With organizational planning WalMart decided to open up a global ethics office in 2004 and with proper planning and controlling WalMart has one of the strictest ethics codes in the industry WalMart encourages their associates to lead by example and to act with integrity in all dealings to avoid even the slightest appearance of a violation of their business standard When management utilizes the four functions he or she is able to control the factors or variables within the organization Reference Gogoi P June 25 2007 The Trouble With Business Ethics Business Week Online p 29 Retrieved February 5 2009 from ebscohost httpwa I ma rtstorescomFactsNewsN ewsRoom8002 aspx Kabel M 2006 WalMart Stores creates diversity panel Retrieved Feburary 7 2010 from Wake up WalMart httpWWWWakeupwalmartcomnews20060424ap3html WalMart CIO Describes How the Retailer Implements IT Programs May 26 2005 eWeek pNA Retrieved February 06 2010 from Gale PowerSearch
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