Distribution centers or warehouses are generally used to store and segregate the incoming raw materials and intended for further processing. The main role of a…
What is Corporate Image and why it is so Important?
A corporate image of a company can be defined as an image that people hold in their mind about the company, its products, and its…
Sales Communication: Different modes, Components and Importance
Sales communication plays an important role in the success of a sales deal. Sales communication keeps the members of the sales team connected, and they…
Qualitative vs. Quantitative Research: What is the Difference?
When diving into a new research project, one of the first decisions you’ll face is the dilemma of- qualitative vs. quantitative research. These two methodologies,…
Social Audit: Definition, Example, Importance, Objectives & Components
A social audit can be defined as a review of a company’s production procedure, policies, and code of conduct to find how they impact society. It…
Sales Credit: Uses, Example, Advantages & Disadvantages of Sales Credit
Sales credit is the extension of payment terms to the customer. In other words, sales, credit is when the sales transaction takes place at the…
What is Mass Customization? Definition, Types, & How It Works
The practice of businesses offering customized goods or services to each consumer to fulfill their specific needs is known as mass customization. The cost of…
What are Sales Territories and How to Assign one?
What is a Sales Territory? Definition: A Sales territory is a specific geographical area or customer group a company utilizes to distribute sales responsibilities among…
10 Key Differences between Assessment and Evaluation
The English language is full words whose meaning is quite close to each other that people get confused with their usage. Many people make a…
Substitute Goods: Definition, Types and Examples
What are Substitute Goods? Definition: In economics, Substitute goods are products that satisfy the same need or purpose. A substitute good can be either a…
Theory X and theory Y of Management: Meaning, Differences & Application
Theory X and theory y are considered as theories of human motivation at the workplace. This theory was developed by Douglas McGregor in 1950s at…
What is Trade Discount (Definition & Example)? Trade vs Cash discounts
Trade discount is the reduction in the retail price of a product that the manufacturer offers when selling to a reseller, rather than the end…
Barriers To Delegation: Top 10 Barriers to Delegation at a workplace
Amidst our rigorous and tight work schedules, we all need some sort of a breather and space by delegating our work to our peers or…
Point of Contact : Meaning, Types, Example, and Advantages
Point of Contact is the individual representing a business entity or an organization for a particular task and who handles the communication and co ordination….
12 Important Features of Bill of Exchange
A bill of exchange can be defined as a legal document which contains the information about the future payment from the person who is required…
Top 10 Features of a Bank and the Banking System
Banks play an essential role in industrial work and trade. In a country, the development of a country is measured based on how well the…
Top 10 Important Features of a Partnership
A partnership in business can be defined as the mutual participation of two or more partners to conduct business. In partnership, everything such as investment,…
Barriers to Entrepreneurship: Top 12 Barriers to Entrepreneurship
In today’s world, each one us dreams of being an entrepreneur and starting up something that we are passionate about. It’s all about making a…
11 Most Important Features Of eCommerce
Ecommerce businesses are growing at a fast pace. Rather than establishing a physical store, people prefer to set up a business. Let us first learn…
What is Golden Handshake: Examples, Advantages, and Disadvantages
The golden handshake is an agreement between an employer and an employee. It is a clause in the employment contract that offers the executive a…
What is Single Sourcing: Examples, Advantages & Disadvantages
In publishing single sourcing is defined as the usage of one solitary document to create several other documents. The user can use this single paper…
Barriers to Effective Listening: Top 5 Barriers to Effective Listening
There are various skill sets required at a workplace to conduct and complete all the tasks and responsibilities efficiently and effectively. And one of them…
Safety Stock: Definition, Examples, Disadvantages and How to Calculate it?
Safety stock is defined as the extra stock that is preserved by a business entity to minimize the risk of a shortfall in their existing…
10 Common Barriers To Critical Thinking
Critical Thinking is not only required by an individual in the streams of academics and the business world but also in life as well. It…
Business Risk: Definition, Types, Importance and How to Minimize it
In simple terms, business risks can be understood as the risks, threats, uncertainties associated with a business that may hamper in accomplishing the financial goals….
Price Lining: Examples, Advantages and Disadvantages
Price Lining is a retail marketing technique where Products and services of the same category are grouped in the different price range based on their…
Backward Integration: Meaning, Importance and Examples
Have you heard about backward integration? Confused how such a term plays a key role in managing and optimizing a business? Then let me define…
What is Product Development Process? Definition, Examples & Steps
The product development process is the inclusion of all the steps used for taking a product from the concept development stage to making it available…
Free On Board: Meaning, Advantages Of Free On Board Contract
Free On Board or FOB as it is commonly referred to is a trade term that signifies a seller’s commitment to delivering the promised merchandise…
Diffusion of Responsibility: Definition, Characteristics & Factors
Diffusion of responsibility is defined as a psychological phenomenon in a social setting. Sometimes when an individual is in a group, he will hesitate to…
Barriers To Entry: Meaning, Types, Examples
Barriers to entry can be defined as the blockades that a new startup or a company faces entering a market. Barriers can be of different…
Middle Management: Role, Importance, Examples, and Skills
Middle management is defined as the management level that reports to higher managers and manages at least one – two subordinate level of managers. Its…
Functional Organization: Definition, Examples, Features, and Advantages
The functional organization is designed on the typical hierarchy system where position and job requirement of every employee is defined. The organization is also divided…
Sales Broker: Role, Advantages and Disadvantages Explained
A broker can be an individual or a firm which helps in the execution of a transaction between a buyer and a seller. A broker…
The History Of Search Engines (Complete Timeline from Starting)
When it comes to search engines, Google is the most powerful one without which we cannot imagine our lives today. But have you ever thought…
Internal Control: Meaning, Types, Components and objectives
Internal control can be defined as the process of accounting, auditing, reviewing the system, methods, and accounts of an organization in order to make sure…
Self Appraisal – 10 Key Steps To Write Performs Review And Explained With Examples
When an organization asks its employees to self evaluate their performances, Self Assessment comes in play. Self-appraisals are mostly part of the annual performance review…
Variable Pricing: Definition, Examples, Model and Advantages
Variable Pricing can be defined as the pricing strategy to optimize Profit by offering different prices for the same product or service vary based on…
Top 18 Performance Appraisal Methods for Best Results
Analyzing the performance of an employee based on various factors is known as Performance Appraisal. This is done to assess the work quality of an…
Environmental Scanning – Importance Of Environmental Scanning
Environmental scanning is a constant and careful analysis of the internal and external environment of an organization in order to detect opportunities, threats, trends, important…
