External and internal factors, such as Globalization, Technology, Innovation, Diversity and Ethics, have an impact on the four functions of management. General Electric has proven over the years to have the ability to manage through these factors and more to remain the industry leader in most of their vast variety of businesses. Understanding the impact each of the external and internal factors have on the four functions of management is the first step towards overcoming and managing through them which General Electric has proven that over the years.
General Electric has led the way in Globalization over the past couple of decades. They understood the change that was occurring in local and global markets, and that they were gaining momentum. So, they jumped in. This was done through a great deal of strategic planning by understanding the evolving marketplace and including it into the goals of the organization.
This in turn dictated a change in the number of and types of resources needed during the organizational planning of the resources. The leading and controlling functions evolved as well. Different leadership styles were needed to handle the diverse population and General Electric needed to find out the measurement and monitoring techniques that were most effective in their new workforce environments.
General Electric Company is a huge conglomerate company that has survived from 1878 to current. The success of General Electric can be credited to the management and success of their products. Planning, organization, leading and controlling functions of management that General Electric management has adopted, help utilize these functions by examining the globalization, technology and innovation the company offers to consumers and businesses not only in the United States but also throughout the world. The strategy of General Electric has been reported to invest in “leadership businesses”.