ution of the firms internal resources between all the aspects, such that the firm is able to gain cost efficiencies as well as competitive edge against its competitors. The 4 step chain of management very comprehensively summarizes the vital tasks that have to be performed by a manager. They are planning, organizing, leading and controlling. Planning is the visionary discussions on how factors have to be distributed, and how a certain project will be finished on time. This is just the pen and paper phase of the management, where the manager is keen on making a plan which is as crisp as possible, and which can be referred to upon as the project moves on. Organizing is the distribution of the resources among the various departments, various teams, various product divisions etc. so that every entity can start working as per the plan that was made in the first stage. (Dale, 1969) Then comes the third stage of leadership, where the manager has to perform the roles of the leader by motivating his staff to achieve the plan that was made by organizing the resources allocated to them in the best possible manner. And lastly, is the stage of controlling, where the manager has to ensure that the resources are not being misused, that the tasks and duties being assigned to individuals are being fulfilled, and that the plan is going according to what had been decided upon. This last stage is actually a check and balance stage, which is very important and helps them do any form of corrective actions that might be required.
Leadership is the influential power that one holds to motivate, encourage and inspire a team to perform better than they usually would and someone who makes a vision and then continuously communicates it to his subordinates, also vigorously trying to increase the enthusiasm level of individual employees for the attainment of that vision. A leader is someone who is bent upon selling his vision to all his subordinates, so that a collective effort is exerted upon