Definition: Training usually has been introduced as a teaching specific skill and a critical strategic tool. For the endurance of the company, it is necessary that the individual must flourish and develop through training. It is a significant sub-system of human resource management and is a specific developmental function of the company. Various managers admit that regular … [Read more...] about Training
Management Vs Administration
An argument arises amidst the two correlated terms, Management and Administration. According to various management writers, both of them are identical and can be used conversely; the divergence exists in their use regarding distinct areas of human activities. Yet few authors don’t comply with this conclusion. In the initial stage of management evolution, both the management … [Read more...] about Management Vs Administration
Marketing Environment
Definition: An organization’s Marketing Environment subsist the factors and forces, farther marketing that influences marketing management skill to develop and retain favourable transactions with its recognized customers. The Marketing Environment consists of the internal environment, micro-environment and macro-environment. Content: Marketing Environment Factors of … [Read more...] about Marketing Environment
Cash Flow Statement
Definition: Cash Flow Statement serves the shift of the cash by the company, i.e., accepting cash on the one side and making payments by cash on the other side. Its aim is to determine the difference between the cash-in-hand the company has at the beginning and at the end of the year. A specified protocol of divergent stock exchanges demands corporate entities to urge cash … [Read more...] about Cash Flow Statement
Inflation
Definition: Inflation implies acceleration in the universal price level or moderate level of prices, of all services and goods. When the general price level continues to rise over a long time, it is known as “Sustained Inflation”. In microeconomics, the price of goods is determined when the demand is equal to its supply. Precisely, any factor that either reduces supply or … [Read more...] about Inflation
Internal Audit
Definition: Internal Audit indicates an independent assessment of activities inside an organization for the inspection of financial, accounting and other, day- to- day business practices. It subsists of steady and crucial review of operating and financial activities by management and reporting to it and not to stakeholders. Content: Internal Audit Procedure … [Read more...] about Internal Audit
Outsourcing
Definition: Outsourcing implies getting work done from the outside bodies. The companies generally use this process to deploy the non-core but relevant sector of their business. For this, two companies draft a legal agreement for the exchange of payments and services. For an action to be called ‘outsourced’ it should be: A recurring action. An action that the firm … [Read more...] about Outsourcing
Strategic Management
Definition: Strategic Management is understanding the management's aim and making a strategy to accomplish such aims by efficiently utilizing an organization's resources. It is mainly concerned with describing the management about its environment, developing strategies to comply with that environment and assuming that the application of strategies takes place. In short, it … [Read more...] about Strategic Management
Auditor
Definition: An auditor is a body who organizes an audit process. He is the one who creates an audit report after due examination of accounting records and accounting statements of the company forming his impression/assumption regarding financial statements fairness and reliability. Content: Auditor Qualification of an Auditor Qualities of an Auditor Responsibilities … [Read more...] about Auditor
Shares
Definition: Shares are the smallest unit of the company's capital or can be said as a unit of equity. The holder of such shares in a company is known as "Shareholders" (the owners of the company). These shares can be issued to the public for raising the funds of the company for its expansion. The market used for trading of shares is known as “Share Market” which deals in … [Read more...] about Shares