PDCA cycle stands for the Plan-Do-Check-Act cycle and is a tool commonly used for project planning and continuous improvement. Walter Shewhart first introduced the PDCA…
What is Lead Management? Definition & Best Software & Tools in 2025
Lead Management is best described as a customer acquisition funnel that starts with finding new customers and finishes with closing transactions. Every organization requires an…
Bullwhip Effect – Example, Causes, Analysis and Consequences
The bullwhip effect is a supply chain phenomenon in which there are inefficiencies in forecast and supply chain. The bullwhip effect refers to the fluctuating…
Yield Management – Definition, Calculation, Examples and Strategy
Yield management is a pricing strategy through which you can maximize your revenue. It is a famous variable pricing strategy that is primarily based on…
Retention Bonus – Definition, Steps, Advantages, Disadvantages
Definition A retention bonus is defined as a one-time payment that is used as a financial incentive to keep a valuable employee in the organization….
Staff Turnover – Definition, Meaning, Types, Causes, Benefits
Staff turnover is defined as the rate at which the staff in an organization leave the firm at a specific time. The term staff turnover…
Operations Research – Types, Advantages, Disadvantages
Operations research, popularly known as OR, is a scientific research method or a mathematical technique to determine the right decision for a problem. Operations research…
What is Interactive Marketing with Definition & 5 Best Examples?
Interactive marketing is a two-way approach to marketing focused on interaction and collaboration as per the reaction and inclination of the customers. It is also…
Market Development – 4 Steps and 5 Types Of Market Development
Market development is a strategy for growth that organizations use to develop new markets or new market segments for existing products. The primary targets of…
Labour Relations – Components, Importance, Purpose
Labour relations incorporate the processes involved in between Management & Union or Employers & Workforce for making effective decisions and channelising an organisation. With the…
What is Quality Assurance (QA)?
Quality Assurance (QA) is the practice of assuring that the quality of a product or service throughout its life cycle, from design to delivery meets…
What is Product Quality? 7 Steps of Products Quality Management
In simple terms, you can understand product quality as a characteristic that is a further conglomeration of different features for fulfilling the customer needs and…
Training Needs Analysis – Features, Components, Levels and Benefits
Training Needs Analysis is the process of identifying the training and development needs of the workforce, so they can perform their jobs more effectively to…
Quality Audit – Definition, Meaning, Types, Advantages
Definition Quality audit is a process of examination and verification of procedures, records, and activities of a quality system that is carried out by an…
Recency Effect – Meaning, Examples and Role
As per many psychological theories, when you will be asked to recall the items in any order from a list, there are brighter chances that…
