Internal and External Factors Paper on Bridgestone Essay

Internal and External Factors Paper on Bridgestone - Essay Example The essay will use the Bridgestone Corporation as the case study and according to Qontro Business Profiles (2008); Bridgestone is a Japanese multinational corporation that was established in 1931 and its main specialty is the manufacture of motor vehicle tires. However, the company also deals in other diversified products that include a wide range of industrial products such as conveyor belts, water houses, and polyurethane foam. Other products include Bridgestone branded bicycles, Bridgestone aircraft tire, and an array of golf products. The company has a wide global presence that is supported by more than 140 production facilities that are spread wide across 24 countries. In reference to the studies by Daft (2011), he described planning as the as the core function of management and even the foundation of the other three functions of management. In the planning process, Bridgestone’s management diagnose the status or health of the company in line with the planned future goals and objectives of the company, and then devise appropriate action plans that will enable the attainment of these goals and objectives. However, Hersey et al. (2000) stated the planning factor is influenced by both external and internal factors and at times, these factors may be uncontrollable thereby potentially affecting Bridgestone in a positive and/ or negative manner. Daft, R. (2011) stated that the act of realigning a company with these external and internal factors is referred to as strategic planning. During strategic planning, the external factor of globalization always makes Bridgestone’s managers consider the impact of competition from their rivals that include Firestone. Secondly, the issue of globalization ensures that managers of the company make strategic plans that will position the company to strategically compete in the international market and keep in