Internal & External Factors Essay

959 words - 4 pages

Internal and External Factors of Sutton-McCann & Company


July 20, 2015

Internal and External Factors of Sutton-McCann & Company
Managing any business takes skills, knowledge, experience and intuition that can take years to refine successfully. The four functions of management are planning, organizing, leading, and controlling. With every organization, there are internal and external factors that can affect those four functions. Factors such as globalization, technology, innovation, diversity, and ethics affect the management functions in many ways. Every company has a unique collection of factors both internally and externally that have the potential to ...view middle of the document...

"Recent advances is technology provide opportunities to capture and leverage knowledge to a degree that was unimaginable or impossible in the past. Such knowledge provides strong strategic and competitive advantages for a firm" (Gibbins & Wright, 1999, p. 27). In order to do this, someone from the management team would need to plan and implement a way to incorporate the use of these technologies, then engage the rest of the employees to start changing the company towards a more modern trend.
While Sutton-McCann is not diversified with the technology they use they are diverse in the services they offer and the clients they service, this is due to the management team considering what the client has asked for in the past. With Sutton-McCann being a small firm, there are many factors to consider when deciding on the services they want to offer, all of which ultimately affect the bottom line. The management team has recognized that accounting is not a one size fits all industry; there is a need for tax preparation, bookkeeping, auditing and payroll among many other financial services. By recognizing this need and tailoring the business to fit the customer Sutton-McCann has developed a diverse client base. Although the client needs are consistently evolving which means Sutton-McCann has to be steadily developing with the client needs.
Along with a mass of client demands comes a daunting amount of ethical issues. Any management team has to deal with ethics and how to handle a breach of ethics; this starts with an ethical code of conduct. While Sutton-McCann does not have their own code of conduct in ethics, the Washington State Board of Accountancy does. They state: "every Washington CPA is required to understand and maintain their knowledge of Washington ethics and regulations. During each three-year reporting period after initial licensing the Board requires all individuals to complete four continuing professional education hours in...

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