Definition: Tax holiday refers to the temporary period when the government reduces or provides complete relaxation on tax payable on a specific range of products, income or property. It generally lasts for a day, or two days or a week. Some of the most prominent kinds of taxes included under this holiday initiative are sales tax, property tax, income tax and GST (Goods and … [Read more...] about Tax Holiday
Offshoring
Definition: Offshoring is the process of relocating the business operations unit (production or services) to a different country (usually in developing nations) where cheap labour or resources are available. Here the company do not seek global retailing; instead, it looks forward to minimizing the cost of manufacturing and other supporting services. Setting up this new … [Read more...] about Offshoring
Employee Orientation
Definition: Employee orientation is a systematic approach of an organization to deliver the relevant information to the new hires so that they can efficiently perform the given tasks. The whole-sole purpose behind this induction process is to familiarize and accustom the new employees with the work environment. Example: 'Google' is well known for employee satisfaction. The … [Read more...] about Employee Orientation
Intrapreneurship
Definition: An intrapreneurship is a phenomenon of empowering the employees within the organization, by valuing their ideas and converting them into a profit-making model for the business. The organization would bear the associated risk and loss if the intrapreneur's project failed. It is the combination of employee responsibilities with his/her entrepreneurship skills that … [Read more...] about Intrapreneurship
Strategy Vs Tactics
Even the top-performing managers consider the terms strategy and tactics as synonyms. Although both are far different from each other. A strategy is a corporate plan developed to competently achieve the company's vision in the long run, by overcoming various business obstacles. Whereas, tactics are the ways adopted to deal with certain situations which arise during the … [Read more...] about Strategy Vs Tactics
Brand Revitalization
Definition: Brand revitalization is a strategical process initiated for improving the existing product, process or brand to meet the changing demands and requirements of the consumers in the evolving market. It is a corrective measure applied when the business or the product is at the maturity or decline stage (alarming phase) of its life cycle and is on the verge of becoming … [Read more...] about Brand Revitalization
Decision Tree Analysis
Definition: Decision tree analysis is a powerful decision-making tool which initiates a structured nonparametric approach for problem-solving. It facilitates the evaluation and comparison of the various options and their results, as shown in a decision tree. It helps to choose the most competitive alternative. It is a widely used technique for taking crucial decisions like … [Read more...] about Decision Tree Analysis
Public-Private Partnership (PPP)
Definition: Public-private partnership (PPP) is a model where the government associates with private companies to accomplish infrastructure projects. This alliance between both the parties, ensure financing, designing, flourishing and maintaining of the infrastructural amenities within the country. The PPP approach initiates the efficient facilitation of public goods to the … [Read more...] about Public-Private Partnership (PPP)
Corporate Spinoff
Definition: Corporate spinoff refers to the dissolution of a subsidiary business entity from its parent company to form a new though smaller independent organization. The subsidiary company's shares are majorly allotted to the existing shareholders', as per their holding (pro-rata basis) in the parent company. The new entity so formed has an individual identity and acquires … [Read more...] about Corporate Spinoff
Inventory Management Techniques
Definition: Inventory management techniques can be seen as a useful tool in the hands of the management. It ensures the availability of the right type of stock, at the right time, at the right place and in the desired quantity. It also enables the managers to match the inventory shown in the books of accounts with that available. Example: A garment manufacturing industry … [Read more...] about Inventory Management Techniques