How internal and external factors impact the four functions of management? Planning, Organizing, Leading, and Controlling. We had chosen General Electric (GE) Company as the company we are going to focus. Since the year 1890 GE has been in business under Thomas Alva Edison (inventor of the incandescent light bulb). Since 2001, Jeffery R. Immelt is GE's Chairman and CEO has worked to transform GE into a more global, diverse and customer-driven culture. Since then GE has growth and mature as one of the greatest multi innovator firm in business history.
GE has become an international company expanding its products and services around the world. We will explain how external and internal factors like globalization, technology, innovation, diversity, and ethics at national and international level will impact the way GE managers apply the four functions of management. In addition we will talk about how delegation helps GE managers to minimize and manage these factors. Globalization GE is a company that is well establish in the world.
The company is a name that when it is mentioned people feel that it can be trusted and its products are of good quality. Currently GE has activities worldwide; from countries like New Zealand, Finland, Canada and all the way to Chile basically they have presence in the whole world. According to Yoon-mi (2007) GE is planning to invest in the Korean Cable TV business if the market is opened under the free agreement with the United States. This is a good example of how the plan their globalization. They have reached many goals thru good planning.
Being a well organized company has also pay for GE. The company has established six strong businesses in order to grow with the market trends of today and tomorrow. The six business are; GE Commercial Finance, GE Healthcare, GE Industrial, GE Infrastructure, GE Money and NBC Universal who is owned by GE by 80%. Leadership is so important to GE that it has its own space on their main webpage. In their home page they show all their leaders since the year 1892. The top executive leaders in GE are from around the world and they have worked for the company in different countries.
In addition to the top executives they have a board of members. Most of them are independent and remain in dialogue with GE's leaders. Together they focus on the areas of strategy, risk management, and monitor strategic initiatives personally through site visits. This shows how strong and important leadership is for GE. One of the things that GE builds is diesel locomotives. A branch of GE is Expert on the alert, this is the one that monitors and diagnoses the systems of the locomotives (Wrinn, J. 2007).
This monitoring occurs worldwide no matters were the unit is located. When something goes wrong with a unit the locomotive contacts the service center at the manufacturing plant. A specialist then may call a railroad mechanic and advise with the electrical or mechanical problems that the unit has. He may also give recommendation for repairs or advised what part is needed before the unit arrives. This is an example of how GE has control of his employees in order to maintain good quality standards and excellent services.
GE has various teams of employees that work in the area of technological infrastructure acquisition that try to know in a more profound way the companies concerns by offering a flexible solution that meets their technological requirements, their financial structures and their actualization needs. GE has 11main operating units, involved into a conglomerate with an increasing shift from technology to services. These take care of planning and strategies that can be implemented so the organization can reach the technological breakthrough they desire.
Organizing, they put in order the steps they want to follow so the main objective can be reach and to have a clear vision of the technological changes they need to implement. Leading, they have to be aware of the changes that are going to be made. Technological changes can give better working conditions for the employees, providing the team members with a better attitude that will increase the production. Controlling, there has to be a better way of controlling so that no problems may occurs with the employees who cannot perform their work with a more advance technology and that cannot develop in their work are with more desire.
A manager has to teach his team to adapt to changes that can come from technological advances. This way his team can realize their way independently, because technology is an important factor for having a successful company. The manager can have a better control and dedicate to the other functions his position requires. Innovation, GE is at the forefront of innovation in the technological and services field. With 11 different operating units that make GE a Fortune 500 Company, it has to be constantly working to create and implement new technology and better service for the clients they serve.
One example of its innovation prowess is that over the 110 plus year history of GE, it has amassed more than 67,500 patents and the firms scientists have been awarded to novel prices and numerous honors. GE needs to be innovating constantly because it operates in more than 100 countries around the world and generates approximately 45 percent of its revenues outside the U. S. mainland. A manager at GE needs to put innovation to work and function for his or her team. In order to do that the manager has to plan ahead taking in consideration that innovation leads to changes and he and his team have to be prepared to undertake them with or without notice.
Conclusion In conclusion, all this functions working accordingly the goals set of a company will bring stability and a very productive way of doing business in the 21st century. References T. S. Bateman and S. A. Snell, Management: Leading & Collaborating in a Competitive World (7th ed. ), McGraw-Hill/Irwin, 2007, New York, NY General Electric (2007). General Electric Company Website Retrieved July 17, 2007 from GE Website http://www. ge. com/company