Succession Planning is vital for organizations to fulfil present and future staffing needs for key positions. Moreover, organizations try to ensure the supply of the right people at the right job today and in the future. Human resources have a limited span, after which they leave the organization. There can be several reasons behind their exit, some of which are listed … [Read more...] about Succession Planning
Marketing Myopia
You might have observed that some brands and products fail despite being successful at some point. The primary reason behind their failure is a disease named Marketing Myopia. It is the firm's near-sightedness towards its product, strategies and market definition. In general, Myopia or near-sightedness is a vision disorder wherein one faces difficulty in seeing … [Read more...] about Marketing Myopia
Service Culture
Definition: Service culture is the organizational culture focused on creating values for both customers and employees. It signifies that every unit of the organization is committed to delivering superior customer service. Majorly, it is acknowledged in customer-centric service-oriented organizations. In addition, it is also relevant for those who are curious to know … [Read more...] about Service Culture
Investment Decision
Investment Decision is a part of Financial Management which deals with the allocation of the company's valuable funds into investment projects or potential assets. It involves identifying such projects or assets to invest in and generate returns from them. Besides, these decisions significantly affect the profitability and stability of the firm. Some essential … [Read more...] about Investment Decision
Job Costing in Cost Accounting
Definition: Job costing or Job Order Costing is a costing method wherein production is measured in terms of Jobs (customer orders). Moreover, it is a system of costing for customer-specific manufacturing. The selection of this costing method purely depends on the manufacturing process involved. This is because customized orders require a different amount of … [Read more...] about Job Costing in Cost Accounting
Sinking Fund Method
The Sinking Fund Method of Depreciation involves the creation of a contingency fund that assures the availability of funds for asset replacement upon completing its useful life. It is also known by a variety of names like: Depreciation Fund Method Amortisation Fund Method Every fixed asset has a specific useful life, after which it needs replacement. With each … [Read more...] about Sinking Fund Method
Reverse Stock Split
Definition: Reverse Stock Split merges companies' stocks into fewer units in the Financial Market. It is the complete converse of the Stock Split. Moreover, it is the company's strategic decision to convert the number of existing shares to fewer yet more valuable ones. The split takes place based on a predetermined ratio. It is also known as Stock Consolidation, Share … [Read more...] about Reverse Stock Split
Meta Market
Definition: Meta Market is a customer-centric virtual market that offers closely related products or services belonging to the same industry or diverse set of industries. It strives to cater for the similar needs of diversified customers under one roof. Moreover, we can understand it as a platform that develops and maintains exchange relationships. These relationships exist … [Read more...] about Meta Market
Types of Logistics
Do you know the majority misinterprets logistics with transportation? Besides being the backbone of logistics, transportation is just a part of it. Logistics has a significantly wide scope. In this post, we will discuss various types of logistics available at our disposal. Logistics is the integration of several activities. These activities are not universal but … [Read more...] about Types of Logistics
Make or Buy Decision
Definition: Make or Buy Decision is a tactical decision-making technique wherein the business concerns choose between – Inhouse Manufacturing and Subcontracting. It is popularly known as the 'Outsourcing Decision'. In the key phrase, 'Make' signifies carrying out production within the firm. Whereas 'Buy' refers to outsourcing the complete product or its … [Read more...] about Make or Buy Decision