Four Functions Of Management Case Study

708 Words2 Pages
bulb-icon

Recommended: Why globalization is important

The four functions of management are planning, organizing, leading, and controlling. These seem to effect how the internal and external factors affect the four functions of management. Some of these factors are globalization, technology, innovation, diversity, and ethics. External factors affecting the four function of management is different to internal factors. Every company is different and unique in its own way.
One of the most important factors is competition, which drives every manager the own way of them thinking. If competition releases a new disruptive product, your manager might need to adjust their plan on upgrading their existing product or design a new product to beat out your competition.
A second possible issue could be government …show more content…

Some existing policies can act like barriers for mangers that wish to take a different approach of some policies. While policies are great for companies, they can get in the way of some of the internal factors of functions of management.
In the next few paragraphs I will explain how some of the internal and external factors affect the four functions of management. Globalization has connected businesses from around the world for years, allowing partnerships that were not previously possible before this. This factor is often helped by the Internet and communication technology. The global economy enables all sizes of businesses to connect with foreign companies. For example a U.S. based store can import material from companies in china through the web on a website called Alibaba.com. Managers are affected by globalization because it changes the planning function of the 4 factors of management. Rather then only focusing on domestic operations, managers must now look into opportunities brought by global partners. Also global companies can drive competitive forces into the domestic marketplace. If consumers can order cheaper products directly from foreign suppliers, domestic managers will need to use the controlling function to adapt to these competitive forces that are

Show More
Related

  • Case Management Case Study

    546 Words  | 2 Pages

    According to the Case Management Society of America, case management is "a collaborative process of assessment, planning, facilitation, care coordination, evaluation, and advocacy for options and services to meet an individual's and family's comprehensive health needs through communication and available resources to promote quality, cost effective outcomes" (Case Management Society of America [CMSA], 2010). As a method, case management has moved to the forefront of social work practice. The social work profession, along with other fields of study, recognizes the difficulty of locating and accessing comprehensive services to meet needs. Therefore, case managers work with these

    Read More

  • The Management Practices Of Comcast Corporation

    1676 Words  | 4 Pages

    In summary the five management functions were used at my time with Comcast Corporation. Each function is crucial to the success of the organization, its employees and their relationship with management. By all means “the linkages between the five management functions make them inseparable activities. Successful managers understand the links and carefully follow through on every aspect of the management program” (Baack, et al., 8.2). Without the influences of the management practices I mentioned, Comcast Corporation would not be a successful organization and I would not have had the joy of furthering my career there. It is important to work for a company that believes in its employee’s success and job welfare while operating under the management practices of planning, organizing, staffing, leading, and controlling.

    Read More

  • Creating Customer Value Essay

    1412 Words  | 3 Pages

    The relationship between management, mission, resources, the system process and structure is that they all make up the Internal Environment of an organization and they "affect its [the organizations] performance from within its boundaries". They are all internal factors because they are all things that the organization can control, opposed to external factors, such as economic conditions and population. The factors which are ends are mission, management, and structure, where as the means are system's process and resources.

    Read More

  • Analysis Of Theodore Levitt The Globalization Of Markets

    1168 Words  | 3 Pages

    Today, many companies enter the global market, and some companies have become extremely successful in the global marketplace and others still struggling. In Theodore Levitt’s article “The Globalization of Markets”, he states that a well managed corporation focuses on selling standardized products with high quality and low priced instead of focuses on selling on customized products with high cost. Levitt defines the differences between multinational corporation and global corporation, and adopts many specific examples to proves his view. He defines the multinational corporation who operates in many countries and adjust its product based on the taste of specific region. This will result in a high cost to produce the product because company have to input more resource into each individual product. However, global corporation sells similar product worldwide at relative low cost. According to Levitt, the cultural differences are becoming more and more “homogenized”; therefore, becoming a global corporation will lead to the successful of the company in the global market.

    Read More

  • My Personal Management Philosophy: An Influence On Leadership

    4253 Words  | 9 Pages

    Managers have five major functions to perform, namely planning, staffing, organizing, controlling, and coordinating. These roles or functions of the management separate management from other roles such as marketing and accounting among others. The lessons that I have currently learned will help me in becoming a manager who will be capable of making various decisions that will have an impact on the whole firm. Additionally, the area where I have much interest in is the function of controlling in management.

    Read More

  • Apple Globalization Case Study

    1176 Words  | 3 Pages

    The organization has had to ensure that it has retail stores in many countries globally and website options in more than 100 countries. The company further enhances access of online stores in more than 37 countries which is accessible all the time and people are able to access the services regardless of their location. Globalization further affects the organization in the sense of international market management which requires it to engage in strictly global decision making. The organization’s production networks have been geared to enhancing global competition (Lüsted, 2012) .The Company is further good when it comes to seizing the opportunities available in global market. For the organization to find efficient as well as cheap means of production, it has to bargain hard so as to allow its contractors to have low profits. This mostly is consequential to the suppliers cutting corners with the use of cheap

    Read More

  • Personal Reflective and Goal Setting Strategies

    956 Words  | 2 Pages

    Globalisation allows individuals, groups, corporations, and countries to reach around the world farther, faster, more deeply, and more cheaply than ever before. Most large local companies regard globalisation as opportunity, thereby exploring overseas markets for maximum market share and optimum business strategies. However, managers would face a series of challenges caused by leadership models, cultural backgrounds, political and economic risks, HR management, etc. To study multinational management skills is very useful for my future career. In this essay, I will set goals for this subject, identify the skills I have honed and need to improve, and explain my strategies for achieving goals.

    Read More

  • Enron Scandal Case Study

    1942 Words  | 4 Pages

    in the similar manner, Hill, & McShane, (2008), argued that managers remain the most important asset of the business that drives the business towards path of development and growth. Additionally, the importance of managers, their roles and functions cannot be neglected. As the business environment has become highly competitive with market segments highly fragmented forcing business entities to adopt and integrate effective business practices that can ensure that the business is heading towards the path of competitive advantage. In this regard, it is realized that the role and function of manager has become highly indispensable. The early theory of management, as per stated by Need, (2006), argues that the core functions of manager are to Plan, Organize, Staffing, Leading, and Controlling. Augier, & Teece, (2009), within this regard stated that effective and efficient managers do not just go and perform haphazardly, in fact, good and effective managers discover their strengths, ensure they are making the most out of the existing resources and mastering the above mentioned five basic functions. The overall role of manager is highly significant, mainly because of the fact that manager while performing these five functions guide the entire business and

    Read More

  • Coca Cola Bottling Company: Planning, Management, Leading and Controlling

    1550 Words  | 4 Pages

    The four functions of management include: planning, management, leading and controlling. Internal factors impacted the PLOC in many different ways. Everything internal and external for this company deals with planning, organizing, leading and controlling, as it is the foundation for any management team.

    Read More

  • Fundamentals of Management

    725 Words  | 2 Pages

    There are four different functions of management. In this paper, I will define these functions; planning, organizing, leading and controlling. I will also explain how each of these functions relates to my own organization. Bateman and Snell (2004) define management as the process of working with people and resources to accomplish organizational goals. By utilizing the four different functions of management companies can work with their employees and other resources to reach the organizations goals.

    Read More

  • Globalization and Diversity in the Workplace

    667 Words  | 2 Pages

    With the advent of the Internet, decreased shipping costs, and the removal of trade barriers, the world market has shrunk in such a way that everyone can be a player. While many businesses thrive solely on serving a small local area, a globalized company has the benefits of increased customer markets, gross production, and brand awareness. Take for example Coca-Cola; this multi-national corporation offers products in countries all over the world, operates in over 200 of those countries with the help of its franchisees, and is the most well-known beverage companies. It is interesting to note however, that as positive as globalization may seem, there are many negative ramifications and a large population of detractors to this movement. While increased product availability is good for profits, if a local market is inundated with imported products, locally grown or manufactured items may be squeezed out, to the detriment of the local economy. Although it is cost effective to have your product produced in another country with low wages, you are essentially taking away jobs from the people of your own country, negatively impacting your national economy. However, if you manufacture your products in a country with higher wages, you must increase your products’ prices which may be harmful to your profits. While maximizing your companies profits is always of great importance, it is essential that you weigh the pros and cons of globalization and its effects on not only your company, but the areas in which you wish to spread.

    Read More

  • Management Problems Facing Multinational Corporations

    1385 Words  | 3 Pages

    Nowadays, business is set in a global environment. Companies not only regard their locations or primary market bases, but also consider the rest of the world. In this context, more and more companies start to run multinational business in various parts of the world. In this essay, companies which run multinational business are to be characterized as ‘multinational companies'. By following the globalization campaign, multinational companies' supply chains can be enriched, high costs work force can be transformed and potential markets can be expanded. Consequentially, competitive advantages of companies can be strengthened in a global market. Otherwise, some problems are met in the changed environments in foreign countries at the same time. The changed environments can be divided into four main aspects, namely, cultural environment, legal environment, economic environment and political system problems. All the changed environments make problems to multinational companies. In particular, problems which are caused by changed culture environment are the most serious aspect of running a multinational business. This essay will discuss these problems and give some suggestions to solve them.

    Read More

  • Internal And External Environment Analysis

    1540 Words  | 4 Pages

    Consequently, the most important object to learn is that external factors, coupled with the internal environment factors have a decisive impact on the functioning of the organization. All factors are closely twisted and affect each other. The manager should be able to analyze all these factors together and without losing any of the mind and make the right

    Read More

  • Concepts In Organizational Behavior

    1448 Words  | 3 Pages

    A manager has four principal functions or duties of management. These include; the process of planning, organizing and leading an organizations human, financial, material, and others resources to increase its effectiveness. (George & Jones, 2005)

    Read More

  • The Negative Effects Of Globalization

    1314 Words  | 3 Pages

    The process of globalization allows the global market to include products and services from all the companies around the world, including all the investments that is across national borders. Indeed, many American companies have taken their merchandise, manufacturing and services to invest in other countries. However, this has produced a negative effect in the global economy. The American companies

    Read More

More about Four Functions Of Management Case Study

Open Document