Internal And External Factoers Essay

1112 words - 5 pages

Internal and External Factors Paper
Many internal and external factors can effect a company. Organizations need to utilize the four functions of management in order to overcome these factors. The four functions of management are planning, organizing, leading and controlling. Wal-Mart has been able to effectively and efficiently apply these functions of management to become one of the largest companies in the world. Their ability to understand and react to factors like globalization, technology, innovation, diversity and ethics will keep them at the top.
Wal-Mart has pursued globalization aggressively since opening its first international store in 1991. They understood that they ...view middle of the document...

One of the most notable advancements made by Wal-Mart in regards to supply chain management was in the evolution of data mined from the universal bar code system. While Wal-Mart was not the original creator of the point of sale system which shifts power to the retailer, they have been noted to be one of the most effective at organizing collected data into useful information. Once an item has been purchased, Wal-Mart has immediate access to information regarding the sale, which would give a full detail, point of sale, product type, price, quality, etc. Combining this with advanced telecommunications, allows for high speed information transfer between branch computers and the central system in order to maintain a real-time database with complete data on inventory levels and assortment. This allows them more leverage over manufacturers as they know exactly what they need, when they need it and what lengths they are willing to go to obtain it. The threat of running out of inventory is reduced as this technology can offset spikes in demand to avoid disappointing customers. In addition, analyzed data can reveal items which are not profitable for the company and may need to be discontinued. Using this acquired knowledge, as well as advanced communication methods, the company is able to properly prepare for the future.
Wal-Mart has used their power and influence to help them become one of the most innovative companies in the world. Their current goal is to give customers anytime, anywhere access by combining the smartphone, online and physical stores. They believe following this plan will give them a competitive advantage over any current competitor. Wal-Mart is also trying to green its entire operation. They are constantly looking at ways to create less waste, use more renewable energy, and sell more products that sustain the environment. Projects like improving packaging, greener light bulbs, alternative energy sources, high-efficiency store designs, reusable shopping bags and better supply chains are all ways that Wal-Mart is leading the way in innovation (“The World’s Most Innovative Companies 2010”, 2012).
Diversity is one of the most controversial issues that Wal-Mart had to deal with. They are usually in the headlines in a negative light regarding employee wages and minority hiring and advancement. The facts simply contradict many of the accusations. ...

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