Today's businesses serve in a highly variable and dynamic environment, which is because it is very important that they have skilled employees, especially managers. The subject matter and topic of the research of this paper govern the functions. It is possible that an analysis of these functions has created an image of the existence of management in the company, which also included possible applications. Numerous authors point to effective and efficient proven management and place where the verses achieve success, no practice is always simple to follow what is theoretically said. Management is a set of principles relating to the functions of planning, organizing, directing and controlling, and has applied these principles in the use and effective utilization of physical, financial, human and informational resources to achieve organizational goals. The purpose of this paper is to compare what theory invests about the managerial function and what it actually does in practice. This is how RIPS ltd. as a great example of a small business successfully operating.