Reserves are the portion of the earning of the business which the company retains to meet any forthcoming emergencies or contingencies. In contrast, provisions are an indictment against income and are treated as expenses and entered in profit and loss account. Reserves lists beneath “reserves and surplus” head whether they are capital reserves or revenue reserves. Provisions … [Read more...] about Reserves Vs Provisions
Oligopoly
Definition: Oligopoly is a terminology defining the market structure in which some merchants are selling similar or diversified commodities. In case when the company sells the same product, it is known as “pure oligopoly” —for example; industries producing petrol, steel, etc. However, when the company of an oligopolistic industry sells a diversified product, it is known as … [Read more...] about Oligopoly
Marketing Planning
Definition: Marketing Planning describes the role and responsibilities of a marketing manager to accomplish the targets of the company. It gives prominence on the distribution of marketing resources most finely and economically. It provides a creative direction for marketing operations. Marketing planning consists of the development of policies, programs, budgets, etc. … [Read more...] about Marketing Planning
Job Satisfaction
Definition: The word “Job Satisfaction” was brought to spotlight by Hoppock 1935. He analyzed 32 studies on job satisfaction operated before 1933 and noticed that it is a mixture of environmental and psychological prospects that provoke an individual to say, “I am satisfied with my job”. The explanation above signifies the variety of variables that affect the satisfaction of … [Read more...] about Job Satisfaction
Balanced Scorecard
Definition: Balanced scorecard procedure developed by Kaplan and Norton in 1996 is a fundamental performance management model, and therefore it is worth looking. It has achieved popularity to such range that it now governs the field of performance management, i.e., Kennerly and Bourne 2003. Nationally, B.P.Ford and Tesco are amidst the firms that use versions of the balanced … [Read more...] about Balanced Scorecard
Sales Promotion
Definition: Sales Promotion is the marketing actions excluding personal selling, advertising and promotion that provoke customer buying and dealer efficiencies like display shows, written description, trials and distinct non-current selling exercise not in the normal routine. Sales promotion is amidst the three pillars of the promotional mix. The alternative two pillars are … [Read more...] about Sales Promotion
Demand Curve
Definition: Demand Curve is a precise set-up to describe the relation amidst price and quantity demanded. It is a graph representing the relationships among the price of a product and the quantity of product that customers are pleased and ready to purchase at the given cost. A demand curve is drawn on the presumption that all the other factors of demand indexed earlier are … [Read more...] about Demand Curve
Selection
Definition: Selection is the procedure of choosing persons who have appropriate qualifications to occupy jobs in the company. The primary function is to select the persons who can favourably perform the job, from the pool of competent applicants. Usually, any selection resolution can lead to four possible outcomes. Two outcomes exert the right decisions, and two would specify … [Read more...] about Selection
Purchasing Power Parity (PPP)
Definition: Purchasing Power Parity( PPP) is a beneficial tool for determining the exchange rate. The Purchasing Power Parity amidst two nation’s currencies is the nominal exchange rate at which accustomed basket of services and goods would charge the constant amount in every nation. For instance, Suppose the basket of services and goods that charges. 100 £ in the UK, cost ₹ … [Read more...] about Purchasing Power Parity (PPP)
Partnership
Definition: Partnership is a model of business in which pair of individuals unite their hands to distribute profits of a business incorporated by them based on agreement. The Indian Partnership Act,1932 regulate evolution and administration of partnership firms. As the business extends, one requires more fund and more persons to regulate the business and spilt its risks. In … [Read more...] about Partnership