External and Internal Factors
Do external and internal factors influence the planning process of management? Our research of Hewlett Packard's (HP) management strategies shows external and internal factors do influence the planning process of HP management. HP has well defined corporate goals that are a reflection of their overall mission and success. The vision, culture, and environment goals created by co-founders, Bill Hewlett and Dave Packard back in 1939, are very much alive today and continue to make HP stand out from the crowd.
This paper will explain the external and internal factors considered by HP during their planning process through the following scenarios: rapid change, globalization, technology, e-business, innovation, diversity, and ethics.
The economy and technology have caused HP to review their business and management processes in order to stay in the competitive market.
I think the world has changed in most of HP's product lines every three years.
It may be that you re-evaluate, look at, and do not change it. However, I think, in 90 percent of the cases, you actually need to change it. (Schmickrath, 2001)
HP has to look at every avenue. What do their customers want? What is the new and upcoming leading technology? Learning from others is a cost effective way to avoid pitfalls and exploit opportunities. This means that rapid changes in products and product management have allowed HP to be one of the top competitors in the computer industry. Providing new products and services to all its customers, HP's product managers invest in the future. If change is the only constant, planning for change is imperative. Businesses that design themselves to adapt to opportunities and hazards regardless of scope or scale build a strong foundation for stability, security, and success. To achieve a measurable return on investment, it...