Branch banking is a system in which a bank delivers banking services through an extensive network of branch offices. Account-holders can choose a nearby branch…
Boomerang Effect – Definition, Theory and Examples
The boomerang effect is the opposite or negative outcome of an attempted attitude change. It occurs when you receive the unintended consequence of your effort…
Bonded Warehouse – Definition, Types and Advantages
A bonded warehouse is a secured place for imported goods (known as bonded goods) or duty payable goods for storing them closer to foreign customers…
Blue Chip Stock – Definition, Meaning and Examples of Top Blue Chip Companies
Blue Chip stock is the stock associated with some of the top-rated, well-established companies. These are companies that have come across several hurdles and are…
Bonus – Definition, Importance and Types
A bonus is a financial compensation that is paid as an additional amount along with what is due. It is the appreciation money that is…
Bottom-up Budgeting – Definition, Advantages, Disadvantages and Tips
Bottom-up budgeting is a type of financial budgeting in which a company lets individual departments set their own budget estimates. The top management then reviews…
Bill of Materials (BOM) – Definition, Example, Types and Benefits
Bill of materials is a detailed list of raw materials, sub-assemblies, intermediate assemblies, drawings, documents, and instructions required to manufacture, fabricate, or repair an end…
Bill of Sale – Definition, Importance, Types and Examples
Bill of sale is the legal documentation between a buyer and a seller about transferring the ownership of the sellers’ possessions in exchange for cash…
Bill of Quantities (BOQ) – Definition, Purpose, Steps and Standards followed
Bill of quantities is a document that consists of the measured specific amounts of the required items for a project, based on the drawing and…
Bill of Entry (BOE) – Definition, Purpose, Who can Apply, and Elements
Bill of entry is legal documentation offered by the importers or the custom clearance agents at the time of arrival or before the arrival of…
Boom and Bust Cycle – Definition, Importance and Causes
The boom and bust cycle is a business cycle that covers alternating periods of growth and decline of an economy. In a boom period, the…
Billing Cycle – Definition, Elements and Importance
A billing cycle is the time interval between two billing statements, in short, the time gap between the last billing date and the recent billing…
What is a Mind Map? 10 tools for Making Beautiful Mind Maps
A mind map is an easy method of brainstorming thoughts without considering or worrying about the order or structure of thoughts. A mind map helps…
Online Branding – Definition, Factors and Steps
Online branding is a procedure of building the identity of any person or brand online using a website, Google, Facebook, Instagram, blog post, and other…
What is Planning? Definition, Importance and Features
Planning is the primary function of management that involves deciding the future course of action. There are several definitions of planning, but the one studied…
