Video Summary
The Role of External Factors in Company Administration
Christian Jesús Gutiérrez Jiménez •
Introduction
When it comes to managing a company, understanding the impact of external factors is essential for success. These factors range from cultural influences to market dynamics, all shaping the management landscape.
External Factors Influencing Company Administration
- In the realm of company administration, numerous external factors play a pivotal role in shaping the management landscape. These factors range from cultural and social aspects to the political system, market dynamics, industry standards, legal restrictions, and the general environment encompassing economic, demographic, geographic, and environmental conditions. Recognizing these external influences is crucial for effective project management and organizational success.
Factors Influencing Company Administration: A Deep Dive into Internal Influences
- External factors are located outside the organization and remain in permanent change, making them difficult to control. These external factors can often limit the development and execution of a project. On the other hand, internal factors play a crucial role in influencing the administration of companies. Internal factors can be classified into three categories within the organization: organizational structure, governance of the organization, and location and geographical distribution.
Understanding Globalization: A Comprehensive Outlook
- Industry standards and internal norms and procedures in the field of human resources are divided into human resources personnel management, leadership, authority tolerance, risk, interest groups, and technological systems. The latter is further segmented into operational environment, communication channels, and database. When discussing globalization, it is essential to consider it as a historical process of global integration across economic, political, technological, social, and cultural spheres. This process has transformed the world into an increasingly interconnected place.
The Impact of Globalization on Corporate Culture
- Globalization has transformed the world into a global village, and in this new landscape, companies venturing into the global market must prioritize factors such as speed, quality, and customer satisfaction to establish a strong position. One crucial consideration for businesses operating in a global market is the abundance of choices available to customers. The winning company will be the one that can deliver the highest quality, added value, and competitive prices. Corporate culture plays a vital role in achieving these goals.
The Essence of Organizational Culture: A Key to Success
- Organizational culture is the personality of an organization. It is reflected through habits, behaviors, and beliefs established over time through norms, values, skills, and expectations. This shared culture is crucial as it represents the unconscious beliefs of the group, which are manifested through the thoughts and emotions of its members. These beliefs guide decision-making, define actions, and shape the destiny of the organization. An organization with a strong and sustained culture of service is likely to achieve greater customer loyalty and enhanced sustainability over time.
Conclusion
Recognizing and adapting to external influences is crucial for effective project management and organizational success. By navigating the external factors that shape the business environment, companies can thrive and achieve their goals.