Definition: Leadership is an individual’s competence to influence their teammates, i.e., it is the ability to frame effective plans and influence others to deal with all the difficulties efficiently with proper guidance. It requires a clear vision of the desired goals and an ability to explore the various paths. An individual who leads a position in a leadership process is … [Read more...] about Leadership
Collective Bargaining
Definition: Collective Bargaining is a process used to resolve the conflicts amidst management and the employees relating to essential terms and conditions of the employment. It concludes with an agreement amongst the management's representatives and the employees' bargaining agents stating the issues regarding compensation and service conditions. Both representatives may … [Read more...] about Collective Bargaining
Hire Purchase System
Definition: Hire Purchase System is a system in which the hirer (hire purchaser) buys a good from the seller (hire vendor) but does not make a full payment at one time. However, makes a lumpsum amount as a down payment and the remaining amount will be paid in installments by the hirer. It is somehow like an installment system but, the major difference in installment system and … [Read more...] about Hire Purchase System
Product Positioning
Definition: Product positioning is the image formation of the product’s in the intended customers' minds against their competitors in the same market. A good product positioning impact should result in like if the customer thinks of a product, the image that comes in his/her mind should be of your product. It builds gradually with the customer's past experiences with your … [Read more...] about Product Positioning
Merger
Definition: Merger is a process of combining two companies or entities to form a third separate company by signing an agreement with a vision of going forward to achieve a respectable position in the market. To achieve the targets that they feel they can achieve together more appropriately by combining their strengths rather than working individually. However, the merger can … [Read more...] about Merger
Bank Audit
Definition: Bank audit is a procedure performed by an auditor appointed by RBI and ICAI to verify the financial statements of the banking institutions and to verify whether the banking concerns are following the law and compliances or regulatory framework applicable on them or not. Content: Bank Audit Regulatory framework Procedure of Bank Audit Types of Bank … [Read more...] about Bank Audit
Employee Welfare
Definition: Employees Welfare is a term which includes the perks and benefits provided to the employees of the organization apart from their regular salary or remuneration, the main motive of serving employee benefits services is to improve or enhance the employee’s well-being. Employee welfare measures are the efforts made by the employer to bring the desired results by … [Read more...] about Employee Welfare
Sales Forecast
Definition: Sales Forecast is the assessment made for the future sale of products produced by the company. This forecasting plays a very important role in making production decisions. If the company do not forecast a sale they may produce unnecessarily excessive products, and in contrary may fail to produce demanded quantity of products. Sales forecasting is treated … [Read more...] about Sales Forecast
Retail Banking Vs Corporate Banking
Retail Banking and Corporate Banking both are the system of the banking service but are differentiated according to their customer base, i.e., In retail banking banks deal with the general public or individual person face to face; in contrast in corporate banking, the banks deals with large corporate bodies and not the individuals. However, the purpose of both banking system … [Read more...] about Retail Banking Vs Corporate Banking
Audit Report
Definition: Audit Report is the final report prepared and signed by an auditor of the company in which the auditor expresses his opinion concerning the fairness and reliability of the financial statements, and the auditor should prepare the audit report by keeping his client in a mind that he/she will read a report so the report should cover all relevant facts and the auditor's … [Read more...] about Audit Report