Personal management is defined as a process that deals with the human constituents of a business entity. Every organization is heavily dependent on its workforce,…
Business Model of Urbanclap and How does Urbanclap make money?
The business model of UrbanClap revolves around connecting service providers with the service seekers. UrbanClap is an online platform that allows people to find professionals…
Controlling in Management – Meaning, Process, and Examples
Controlling is one of the most basic functions of management, like planning, organizing, staffing, etc. Controlling is an important management function, and without controlling management…
What are the Five Adopter Categories? Definition & Examples
Various Categories of Adopters are defined in the concept of diffusion of innovation. These adopter categories are the reasons that a product gets adopted and…
The Importance of Transportation Explained
Transportation is literally described as a means of carrying people as well as goods and animals from one location to another. It has been in…
21 Characteristics of Successful Entrepreneurs
Curious to know about the key personality traits of entrepreneurs? Then in this post, we will be covering essential characteristics of successful entrepreneurs that play…
12 Characteristics of Baby Boomers
Baby Boomers are also known as boomers and are a demographic group of people following the Silent Generation. The widely accepted definition of baby boomers…
Business Model: Meaning, Key Components and Types
Do you have an idea for a small business that you want to create? Well, in that case, do you think you are all set?…
The 5 Pillars Of Marketing
Pillars of marketing are the foundational elements of an effective marketing strategy. The 4Ps of marketing (Product, Price, Place, and Promotion) are the most commonly…
What are Close Ended Questions? Examples of Closed Ended Question
Have you ever come across a question where there is no possible answer than Yes or No? Well, there might be a chance that you…
Buffer Stock: Meaning, Methods and Examples
Buffering stock means the excess amount of goods that are used to manage the price fluctuation and unpredictable emergencies which occur in the market. What…
8 Features of Bureaucracy: Advantages and Disadvantages
Bureaucracy is defined as the organization and its administration that handles the everyday transactions and business of a society or a government. The term bureaucracy…
The 10 Most Important Features of Business you should know
Definition of Business: A business is an activity or organization that seeks to provide goods or services to customers in exchange for money. It generally…
The 6 Features of Centralization: Its Advantages and Disadvantages
There are two ways to operate an organization one is centralization and decentralization. These two processes are opposite to each other. In centralization, the authority…
15 Features of Culture and the Meaning of Culture
Culture is defined in various ways by various sociologist and anthropologists. Here are a few definitions of culture. E.S. Bogardus defines culture as “A way…
11 Characteristics Of Organisational Culture
Each organisation has a different culture, like the culture of different communities. People of one community follows the same beliefs, values, assumptions, and rituals. Similarly,…
Unity of Command: Meaning, Example & Its Importance
Being accountable and answerable to more than one supervisor is never liked by the employees. Unity of Command is the one business management theory that…
Unity of Direction: Meaning, Role, Benefits and Importance
Do you know about the best technique of motivating the workforce to work with uniformity and coordination to accomplish the common objectives of the company?…
Competitive Strategies – Definition, Limitations, and the Importance
Definition A Competitive strategy can be defined as the action plan which takes place over a long period of time and is used by different companies…
What is Commoditization? Definition, Examples, and How to Avoid It
What Is Commoditization? The term “commoditization” refers to a product or service becoming a commodity. Commodities are goods or services that are interchangeable with other…
Joint Venture: Meaning, Objective, Feature, Advantages, & Disadvantages
The joint venture is a commonly used word in the business environment. A joint venture is a business arrangement where two or more companies get…
What is Field Testing and How to do It? Advantages & Disadvantages
Field testing is an experiment which is conducted on a small scale to evaluate its cost, duration and also monitor its adverse effects and improve…
The 7 Different Modes of Payments Explained with Pros and Cons
Making payment is a day-to-day activity of every business. One party is required to make payment to another party to use its services and goods….
Who is Media Buyer? Role of Media Buyer Explained
A media buyer is a person who places and negotiates the price of all the ads on different media. This media can be television, print,…
What is Bilateral Contract? Elements, Enforcement and Examples
A bilateral contract is a type of legally binding agreement between two parties. The contract can be either oral or written. It differs from a…
Job Analysis: Meaning, Objectives, Steps involved, and Advantages
Job analysis is defined as a process that garners and later analyzes the collected data and information about the context and requirements of a job….
Prioritization: Meaning, Planning, Importance, Cons, and Examples
Prioritization is defined as activities where you list the items you want to do on their level of value. It means that you can now…
Business Process Reengineering: Importance, History, and Examples
Business Process Reengineering (BPR) can be defined as a process of analyzing and redesigning the entire business process of an organization in order to improve…
Process Control: Meaning, Objectives, Types, Importance, and Advantages
Process control is defined as an activity that ensures a process is steady, predictable, and constantly operating at the set level of performance with the…
Profit Center: Meaning & How to Measure the Performance of Profit Center
A profit center is defined as an integral part of a business entity that makes identifiable contributions towards the organization’s coffers. It is a separate…
Profiteering: Meaning, Types, Examples, and Why is Profiteering wrong?
Profiteering is defined as an activity that helps to generate an unreasonable amount of profit through sales of essential products during times of emergency. The…
Quality Circle: Meaning, Features, Objectives, Structure, and Techniques
Quality circle is a participant management method in which a team of employees works towards solving and defining a problem that is related to the…
Job Evaluation: Meaning, Objectives, Features, Methods, and Limitations
Job evaluation is an approach to determine the worth of one specific job about other positions in a company and even across an industry. The…
Reference Check: Meaning, Purpose, Precautions, and Disadvantages
A reference check is defined as a process that an employer adopts to gather information about someone he is interested in recruiting. He takes help…
Performance Appraisal Process: Meaning, Types, and Objectives
The performance appraisal process is defined as a process under which periodic assessment is undertaken to evaluate the performance of an employee. The input by…
Structured Interview: Meaning, Types, Questions, Process and Advantages
A structured interview is defined as a standard interview that has been researched in advance and includes a set of same questions and that too…
Servicescape: Meaning, Examples, Elements, Approach, and Roles
Servicescape is defined as the physical environment where a service can take place. It helps to analyze and identify the impact of a good environment…
Sensitivity Training: Meaning, Steps, Examples, Tips, and Importance
Sensitivity training is defined as an unorganized meeting that is held between a few members away from their workplace to gain a better insight into…
Situational Leadership: Meaning, Styles, Characteristics, and Advantages
Situational leadership is defined as a model or theory where the leader puts its onus on empowering the followers to get the job done. The…
Shadow Pricing: Meaning, Examples, Advantages, Uses, and Limitations
Shadow pricing is defined as allotting a monetary value to a current intangible item that does not yet have a market of its own to…
