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External / Internal Factors of Toyota

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Explain how internal and external factors impact the four functions of management. Be sure to address the following in your paper:

a. Select an organization (Car Industry) on which to focus your paper.

b. Explain how each one of the following factors impact the four functions of management. In your explanation include specific examples of these impacts:

1) Globalization

2) Technology

3) Innovation

4) Diversity

5) Ethics

c. Explain how managers can use delegation to manage the impact that these factors have on the four functions of management.

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The response addresses the queries posted in 861 words with references.

//Before writing about the impact of management functions, it is essential to understand the Internal and External factors of the Industry and the Organization. To provide you a right assistance, I am just discussing about the Industry, so that we can analyze the performance of the Company and its strategies. //

External / Internal Factors

Management is a universal concept since its principles and techniques are used all over the world, irrespective of their level of development. The basic objective of the management is the progress of people and not the direction of things. The conservative explanation of management is getting work done through its people, but the real management refers to the development of people through work. The management should make the difficulties interesting and their solutions productive for the team members so that everyone can deal with these situations. Management has to provide effective leadership, promote team spirit, set in motion bilateral and multi-lateral channels of communication and enroll the participation of its people, commitment and contribution through an appropriate system of financial and non-financial incentives.

//After discussing about the Industry, as per the requirement, we will discuss about the four functions of the management. I am not explaining the function in detailed manner; but giving you just core knowledge about the role of these functions in the running of an Organization. //

The basic functions of management are: planning, organizing, leading and controlling. The internal or external factors of an organization influence the on-going process of an organization. They create an impact on the above mentioned functions of the management. An impact of these internal and external factors will help in modifying ...

Solution provided by:
Ashish Sharma, MBA (IP)
Education
  • MBA (IP), International Center for Internationa Business
  • BBA, University of Rajasthan
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