What Is Management

When you are placed in a management role you have to try to manage all of you resources to best of your ability. Management is basically problem solving. The different type of functions in management includes Planning, Organizing, leading and controlling. Planning is mapping out how to achieve a particular goal. Next step would be organizing, a manager needs to organize there assets and team member to carry out the plan that is in place. Also leading is important not just by the manager but by all member that are employed with the company. Leading involves communicating, guiding, motivating and encouraging the individuals that are presently working for you. After all of these components are in place a manager must also be controlling. The manager must continuously check the results of their team and make corrective action so that the plan can remain on track. Internal and external factors can affect many aspects of a company. Globalization opens a new market for selling and buying. Globalization is important for the growth and survival of a company in the global market place. Some of the internal factors of globalization can start on how the company would change the practices to compete on a global scale. You could also add in marketing strategies, customer service, development and production. Some external factors of globalization could include the environment that the company will have to a just to. Another big external factor for a company entering a new land of business could be the laws on how you can conduct your business. Technology is big for companies to help them remove workplace boundaries. Technology allows business to expand efficiently and quickly. Business technology also improves communication with business partners and clients because you have multiple channels to pass information almost instantly. A factor could be the reduction of travel cost to the company due to the possibility of setting up virtual meeting with clients on the other side of the globe. Technology in the work place can help you in the recruiting and hiring of potential candidates for a particular job. Technology helps companies time by speeding up the work flow process. Also, technology helps you save space by digital filing and not to Minchin you can save money on printing cost and paper. Some external factor of technology is that it changes so often you would have to spend time and money on training when newer technologies arise that over takes the one before it.