“Business management” education teaches a 4-fold process

Business management is a complex subject that consumes many many classes in every business school. Not all business is about management, some business tasks focus more on communication, financial dealings, and sales, but all of these topics, at one point or another, fall under the purview of management. Every manager must also manage the 4 elements of any project or business:

• Resources
• Time
• Money
• Scope

These elements encompass the people and raw materials needed for any effort to get underway, as well as the tasks and the paths that they will take. The costs, inflows, and outflows all come into play, one work begins, and a manager must fully understand the size and intent of any project in order to manage it effectively. Keeping an eye on these four elements is an excellent place to start for any management trainee or student.

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