Competent management is essential for a company looking to thrive and gain a competitive advantage in its market. Only when all management functions of a company are synced and working as a single unit towards a common goal the company can achieve desired results and efficacy which ultimately drives the company's growth and its value. Successful management does not rely on intuition and pre-set processes but it sets long-term planning strategies which combined with timely and accurate business information leads to successful decision-making processes and management of the company and changes. This particular mindset is what sets apart highly skilful managers who, in addition to possessing intellectual qualities also have leadership capacity and can think outside the box which consequently makes them adept to rapid response to change. In this paper, after explaining theoretical foundations of management of the company, the application of management functions will be presented on example of the company Komunalac d.o.o. for communal (public) services which is owned by the City of Vukovar. Following the implementation of the new organisational structure and the introduction of a modern information system, the company has also transformed its management style. After years of operations, continuously burdened by debt to partners and government institutions, the application of quality management in the company resulted in meeting its budget targets, the mind-set of employees has been changed, and control of all activities is contributing to avoid previous mistakes that continuously led to financial losses and which made the company dependant on its founder.