4 P's of Management - MBA Skool

4 P's of Management Thursday, 31 March 2011 15:08

Management is the art of managing, controlling, leading and taking decisions. Management is present everywhere. Management is present from corporates handling billions of dollars to home run small business units, from the field of sports and entertainment to politics and social issues. The art of management is dynamic, and there exists no specific formula for success. But there are a few ways which can lead to positive results. We have always heard about the 4 Ps of marketing but in todays competitive world we need the new 4 Ps. The 4 Ps of management.

They are:

Planning, Priority, Perspective and Patience.

These four guidelines if followed can be beneficial for any organization or an individual, as it not only gives them a holistic perspective but also prepares them to face the worse possible situations.

Planning is the first factor, which forms the backbone of any exercise. No matter how gigantic or minute a task or crisis is, until and unless there is a plan available, it is bound to lead to a disorder. Planning ensures preparation for any event, optimum utilization of resources and managing time for the best possible consequences.

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4 P's of Management Thursday, 31 March 2011 15:08

Priority is the second pillar for successful management. Until and unless organizations and

individuals have their priorities cut into place, it would always result into exploitation of

resources and uncertainty of activities. All financial resources,

human resources

planning

, activities

should be prioritized so that the tasks which requires urgent attention must be performed before

hand and others can be performed subsequently. Thus, any professional or business

organization must have their priorities straight.

Perspective forms the third main stay of management. Every situation must be analyzed, evaluated and studied for every perspective, and individuals and companies must be prepared for all possibilities. No matter how successful a company or how popular a brand is, they must always consider all scenarios, and be prepared for the worse. Another important view is to understand the perspective of the employees within your own organization if they fail, and support

them rather than blaming the failure on them. Therefore, having an absolute perspective is fundamental for companies.

Patience - the last but the most important pillar for succeeding is Patience. Any individual, organization or company can never succeed if it does not have the patience to do so. Rash, impulsive and spontaneous decisions may benefit organizations in the short run, but it will hamper their growth and credibility in the long run. To get results, companies must put in maximum effort, for which sky is the limit, but must be patient so as to reap the benefits of success.

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4 P's of Management Thursday, 31 March 2011 15:08 Therefore, to balance the burden of growth and fall, success and failure, competition and support, and come out with flying colors, the four pillars which form the foundation for any management organization are Planning, Priority, Perspective and Patience.

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