External and Internal

In: Business and Management

Submitted By cjordan1003
Words 1409
Pages 6
Internal and External Factors

Internal and External Factors
Introduction
Capital One is a successful business. The bank has applied the four functions of management which are planning, organization, leading, and control to aid in their success. Each component is important and it is hard for one to function without the other. There are internal and external factors that affect these four functions of management. The following will explain how these factors affect the functions of management in Globalization, Innovation, Diversity, Ethics, and Technology.
Globalization
Capital One Bank, as a credit card giant and one of the worlds’ strongest banks, has evolved with the current market. Globalization allows businesses to interact and trade past traditional geographic and political boundaries. This allows businesses, like Capital One Bank, to platform commerce. Production, customer service, development, and marketing strategies are internal factors to globalization according to the intelligent business plan website. The external factors include new market environments in which any and every business has to be accustomed to (Taylor, 2012). Knowing this information concludes that the manager has to exemplify immaculate planning skills. Planning specifies the goals to be achieved, weighing discrepancies, positive and negative outcomes, and appropriate options to achieve the goals presented. Globalization also includes branding and so on. This should be developed internally to know how to market externally. Capital One Bank is an example of witty branding. Their slogan, “What’s In Your Wallet” has brought many new costumers into their facilities. Consumer analysis and market analysis when globalizing should be considered. An in-depth consumer analysis, internally, has brought Capital One bank much success, and will continue to do so in the years to come. Capital One…...

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