Reference no: EM132999238

Bret is running a real estate construction company. He has to meet clients on a regular basis in order to make deals. For every decision he makes he has to be really cautious as he knows once he has made a decision he can't go back which will mean abandoning of the project. So he evaluates every decision before he makes it. That is why he pays a lot of attention to what his clients are saying and figures out which portion of the deal is in his capacity and favor. Recently his company pumped an amount of P5Million in a project and he knows this project can affect the returns of the firms in the long run both positively as well as negatively. All this is a part of the business in which he has established himself. He knows that the funds invested are only likely to give returns in the future and impact the future prospects of his business. The chances of success in any business are more when one does a lot of research. He has to involve a considerable portion of his funds and block them in long term projects. A thorough research is required in order to grow funds at the lowest cost possible. He is a very stable minded entrepreneur.

1. Which concept of management has been highlighted in the above case?

2. Identify its types highlighted in the above case.