If you are reading this, chances are that you have a hunch that the roles we play in daily life at home are the same we play at the workplace in terms of
Management articles
What is Cooling off period?
Cooling off period has two meanings. The first one happens in an agreement which allows the buyer to back out from the contract within a stipulated time, as mentioned in the agreement without
What is Comparative Advantage?
If one country is able to produce a good or service at a lower opportunity cost than another good or product, then it is said to have the comparative advantage in the production
The Ability to Pay Principle
Taxation is basically a disciplined process through which an imposing agency, especially government manages to levy taxes. Taxation is actually a strategy to generate revenue to meet the government expenditures and relevant affairs
Abnormal profit explained
Everyone is after money and want to increase their bank balance. Multiple companies are running every second of twenty-four hours at the national and international level in order to gain profit and success.
Importance of Leadership
A leader by definition is a person who leads a group, organization or a country. Leadership being the most influential element of any business has the greatest impact on the results. For any
The Market Demand Curve
The market demand is always varying due to various factors. One factor can be production and product availability. Another factor can be the price of the product. Because of the huge impact of
POSDCORB Concept
Fortune magazine, a financial magazine with worldwide acclaims, publishes the most prestigious list of the largest and the most successful corporations of the world every year. These 500 companies taken together account for
Five Types of Communication
Communication is a very basic and fundamental process for human beings. However, when a brand wants to communicate with their customers, then the communication takes another form. Similarly, there is communication involved between
4 Financial Statements Used In Accounting
Business financial reporting as periodically recommended is made possible by the four most important financial statements required by GAAP. These include; the Balance Sheet (a statement of financial position of a business at
Expectancy Theory
The Expectancy Theory as explained by Vroom was brought about to explain and separate effort (arising from motivation), outcomes and performance. This is because other theories i.e. by Maslow and Herzberg only explain
The Meaning Of Organizational Structure
A system that is used to define hierarchy in the organization is called the organizational structure. It gives the organizational leadership direction in terms of job identification and functions and who reports to
7 Steps to Implement Kaizen in your Organization
Kaizen is the process of Continuous improvement wherein changes are made to the organization’s process either in one go or Step by step. One of the major advantages of Kaizen is that it
What is Kaizen – The philosophy of Kaizen Explained
At any given point, a business can improve itself through various means. It can improve its production, its flow of goods, its finance management or the many many other operational stuff involved in
What is a Limited Liability Company? Advantages and Disadvantages of Limited Liability
A limited liability company (LLC) is a business entity or corporate structure in which the members of the organization cannot be personally held responsible or liable for the debts of the company or
What is a Limited Partnership? Limited Partnership Explained
A limited partnership is a type of partnership in which at the minimum one of the owners of a business is a limited partner and at least one of the other partners has