Affecting Factors of Innovation and Diversity

The Affecting Factors of Innovation and Diversity

Danette Lockett

MGT/230

Steve Friloux

The Affecting Factors of Innovation and Diversity

For any organization to reach their goals or success management must be a key factor. With an organization as large as Wal-Mart, the four functions of management can be affected by factors such as innovation and diversity.

Since the drastic change in the economy, you can find consumers shopping in Wal-Mart to save money; they are looking for different products at lower prices and because innovation is a part of Wal-Mart and are constantly adapting to the demands and changes of the consumers, they are giving the consumers what they want. In order for Wal-Mart to know what type of products to sell and when to sell them, it would take careful planning, a mixture of the four parts of management, and listening to feedback from the consumers internally, as well as externally.

With Wal-Mart using its four functions of management and using the new innovated ideas from its employees, it keeps the employees motivated to come up with more ideas; and by using this method, it keeps Wal-Mart ahead of their competitors. One of Samuel Walton’s greatest strengths was that he was always willing to embrace innovation (Business Strategy Review, 2003).

Even though Wal-Mart’s code of ethics do not discriminate, regardless of race, religion, gender, or disability, diversity can be a affecting factor to the four functions of management for an organization as popular as Wal-Mart. When it comes to planning, organizing, leading, and controlling, managers become concerned about diversity because they worry about staying profitable for the following reasons: When it comes to planning, problems could occur with the employees and consumers due to the different types of cultures. When it comes to organizing, it could be difficult to create a schedule because some staff members may not be able to work certain days or hours due to the different...