This abbreviation stand for PLAN, LEAD, ORGANISE and CONTROL. If you surf in internet, there are many other meaning that come with it. These are basic functions of management and/or a manager. Some writers include also, STAFFING.
In my experience, most important aspect is plan and control.
If our plan is so good and is very clear and comprehensive (menyeluruh), then those who will execute/implement the plan will carry on smoothly. Dont forget, in the plan we should also include who is to do what. Actually this is called ORGANISE.
Next important aspect is control. Our subordinates must assume or perceive that we are controlling the whole activity. If the boss is not in control, then the whole project, plan, strategy or what ever it is will be a failure.
One of the issues raised by many writers is lack of resources, expertise, financial, logistic etc. In a real world we borrow. But in the military we used to say, beg borrow or steal [ ha ha ha]. Its true and that is what being practised by many corporate world, rich and poor.
HOWEVER, universities and colleges dont teach us this. Me as a tutor in a university, teach this to my students. Sharing is caring.
And I wish, business school also teach their students how to avoid cheating and how to identify a con man/businessmen.
