Management is a process designed to achieve an organization's objectives by using its resources effectively and efficiently in a changing environment. Management is universal. It takes place not only in business but also in government and nonprofit organizations.

There are 4 essential functions of managers: Planning, Organizing, Leading, and Controlling. While we will discuss them as distinct activities, they are interrelated in practice. In other words, managers may perform two or more of them at the same time.

Explain each of the 4 essential functions in your own words and provide a real world business example of how a manager demonstrates the function.