Continual improvement is defined as a process that includes ongoing and continuous effort to improve the standard of processes, services, or products. It is always…
Operational Risk: Meaning, Examples and How to stay safe from them
The financial companies and banks are in constant fear of risks and keep looking for methods to mitigate these risks. Operational risks take place because…
Line Filling: Anatomy, Examples, Factors, Case Study
The concept of Line Filling can be defined as the business strategy where the firm plans to increase the number of products in the existing…
Mom And Pop Stores : Examples, Advantages, Disadvantages of Mom And Pop Shops Business
Mom and Pop name is popularly used for private and family-owned businesses. These stores are run by a family or a small number of employees….
Primary Industry: Meaning, Types & Example of Primary Industry Explained
Primary industry is defined as an industry that is concerned with extracting the natural resources on the earth so that they can be converted into…
Natural Monopoly: Regulation, Advantages, Disadvantages and Examples
Natural monopoly as the name suggests is a type of monopoly that exists in the industry because the infrastructural costs give the largest and in…
Multidisciplinary Team: Meaning, Tips, Characteristics, and Advantages
The multidisciplinary team is defined as a group comprised of members that have complementary skills, qualifications, and experience. Their contribution is towards particular objectives of…
Cost-Benefit Analysis: Advantages, Limitations, Examples, and Relevance
Cost-benefit analysis is defined as an approach to determine the weaknesses and strengths of action in business. It is a decision making concept employed to…
Merchandising: Types, Advantages, and Disadvantages of Merchandising
Merchandising is any practice that helps a retailer to sell his merchandise to his customers. In a retail store, the meaning of merchandising is the…
Ethics in Retail: Importance and Ethical Practice towards consumers
Ethics in business have become an essential topic of discussion. In retailing, retailers want to earn maximum profit by providing satisfaction to their customers with…
Prioritization Matrix: Features, Benefits and How to use a Prioritizing Matrix
A prioritization matrix is an analysis tool used for business analysis. It is also a software application for time management so that a person can…
Needs Assessment: Meaning, Steps, Benefits and Limitations
Needs assessment is defined as a powerful tool for addressing the needs between current as well as desired wants. It is used by organizations for…
Inbound logistics: How to improve it & the Importance of Inbound logistics
Inbound logistics focuses on the processes in the supply chain that bring materials into a business or organization. This includes tasks such as managing suppliers,…
Social Impact: Meaning, Theory, and Different Sectors associated
What does happen when an organization’s positive or negative activities cause effects on the well being or the existence of society? It causes some sorts…
Multiple Unit Pricing: When you should use it, and the Pros and Cons
Selling a product at a price lower than that of other products of the same category is called Multiple Unit Pricing. This is true, especially…
