External and Internal Factors

External/Internal Factors
Carl R. Foster
MGT 330
Linda Fisher-Lewis
December 2, 2008
University of Phoenix

External/Internal Factors
The purpose of this paper is to ask and answer the questions, how do internal and external factors impact the four functions of management (planning, organizing, leading, and controlling), and how does globalization, technology, innovation, diversity, and ethics impact each of the four areas. Also, explain how managers can use delegation to manage the different factors listed above.
There are many external and internal factors that impact the four functions of management. External and internal factors have an enormous impact on organizations productivity. The process of assessing external and internal factors that an organization will face is vital to the planning function of management. An internal and external environmental assessment develops understanding of the processes that will influence an organizations success rate. The purpose of an environmental assessment is to identify and analyze the key trends, forces, and phenomena having potential impact on the formulation and implementation of strategies. In effect, the environmental assessment attempts to prepare the organization to acclimatize the environmental changes to take advantage of opportunities and minimize the adverse effects of threats. The organization can then prioritize issues, constraints, and assumptions that could influence the four functions of management. External factors are such that many if not all are beyond the organizations control.
The process of globalization encompasses combinations of economics, technological, innovation, socioculture, and political influences. The external and internal influences can be felt in several different ways with globalization. The economic ramifications can be felt based on the freedom of exchange of goods and services while being influenced by the emergence worldwide production and financial markets. Such...