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
Marketing Vs Selling
Various managers use marketing and selling as analogues; however, there is a considerable distinction between marketing and selling. Both create precise adjustments to the business; thus, the manager is anticipated to follow a various distinctive class of strategies for the success of their business. Selling has a product target and is often manufacturer driven. It is the … [Read more...] about Marketing Vs Selling
Auditing
Definition: Auditing is the procedure by which proficient liberated person accumulate and examine the evidence to form an assessment and convey their point of view to the individual concerned with their audit report. The term “Audit” is borrowed from the Latin word “Audire”, i.e. to hear. In ancient times when the person who has possession of business suspected fraud, they … [Read more...] about Auditing
Consumer Behaviour
Definition: Consumer Behaviour is the analysis of the measures involved when a person or groups choose, procure, and utilize goods, services, designs approaches to fascinate consumer wants and hopes. It involves procedure by which consumers acknowledge their utilization issue, seeks for information, classify options feasible in the market, build a conclusion and select a … [Read more...] about Consumer Behaviour
Indexation
Definition: Indexation is the inevitable link between monetary constraints and price level. It diminishes the cost of inflation and implements on interest and taxes and wages. For example, Employers are compelled to index wages across prices so that the divergence among money income and real income can be reduced. The interest of long-term loans is so driven that the debtors … [Read more...] about Indexation