Strategic Business Unit (SBU)

Definition: Strategic Business Unit (SBU) implies an independently managed division of a large company, having its own vision, mission and objectives, whose planning is done separately from other businesses of the company. The vision, mission and objectives of the division are both distinct from the parent enterprise and elemental to the long-term performance of the…

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Outsourcing

Definition: Outsourcing, the name itself suggest its meaning, i.e. source from outside. It refers to a practice of contracting out the non-core and sometimes core activities of the organisation to a captive unit or a third party. It is a process, in which business-houses handover their regular or peripheral work to the external organisation, who…

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Business Environment

Definition: Business Environment means a collection of all individuals, entities and other factors, which may or may not be under the control of the organisation, but can affect its performance, profitability, growth and even survival. Every business organisation operates in a distinctive environment, as it cannot exist in isolation. Such an environment influence business and…

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Entrepreneurship

Definition: Entrepreneurship refers to the process of creating a new enterprise and bearing any of its risks, with the view of making the profit. It is an act of seeking investment and production opportunity, developing and managing a business venture, so as to undertake production function, arranging inputs like land, labour, material and capital, introducing…

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Benchmarking

Definition: Benchmarking, is a tool of strategic management, that allows the organisation to set goals and measure productivity, on the basis of the best industry practices. It is a practice in which quality level is used as a point of reference to evaluate things by making a comparison. The process helps in comparing and gauging…

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Change Agent

Definition: In business parlance, a change agent is an individual or group, who carry out the task of instigating and managing change in the organization. He/She is someone, who directly or indirectly influences change, i.e. the change agents are appointed by the organizations to transform the ways, the organization is managed, or the business is…

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IPO

IPO stands for Initial Public Offering, which is the first sale of the stock by a private or any government company that opens to the general public. The company which comes with an IPO can be new, a budding company or an old company which decides to be listed on an exchange and therefore, goes…

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Demat Account

The word ‘Demat’ is the colloquial short word for ‘Dematerialized account’ which is a type of an account where shares and securities are held electronically to enable trading transaction & settlements in stock exchange, thereby eliminating the need of physical financial instrument. It was in the year 1996 when it was first introduced in India…

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Measures of Central Tendency

Definition: Measures of Central Tendency helps in identifying the single value around which all the data in a group (observations) have a tendency to cluster. Simply, a measure of central tendency is the value considered as the most representative figure of the entire data set. A measure of central tendency helps in identifying the center…

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Foreclosure Process

Definition: Foreclosure is a process in which the lender tries to recover the loan balance from the borrower, who has missed out the loan payment, by canceling the borrower’s right to redemption of property held as collateral with the mortgage holder and selling it to recover the amount due to him. Foreclosure Process Missed Payments:…

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