Internal and external factors

In Chapter 4, you will address how to handle challenges occurring as a result of internal or external factors. Successful managers are those who are willing to focus both inwardly and outwardly to seek solutions to problems. You will examine those internal and external factors that can influence your ability to manage. In particular, you will focus on both of these factors on two different levels: organizational and personal.

Internal factors within an organization could include working within a reduced budget, facing a reduction in sales, or being asked to cut the number of staff members. Personal internal factors could include personality traits such as having a quick temper or insecurities.

When you consider external factors to an organization, things that cause disruption in daily management could include changes in the stock market, fluctuations in the cost of resources necessary for your business, or perhaps a competitor releasing a new product. External personal factors could include a crisis in your personal life or personal health issues.