Definition: A unicorn company is a private startup firm whose valuation crosses the 1 billion dollar mark in early years without going public, i.e. without listing the stocks on a stock exchange. The worth of the unicorns is not directly associated with their present financial performance; rather, it highly depends on their growth potential discerned by the angel investors … [Read more...] about Unicorn Company
Career Pathing
Definition: Career Pathing refers to the process of lining up the opportunities for the career growth of employees within the organization. In this process, the talent development professional and the employee map out their potential course through the organization. It outlines the steps, pace and length of your work history. It depicts different forms of career progression … [Read more...] about Career Pathing
Job Evaluation
Definition: Job evaluation is described as the process of systematically studying and evaluating various jobs in an organization, in order to determine the value of a job with respect to other jobs. It rates the job prior to the appointment of the employee so that a satisfactory wage differential is established. Process of Job Evaluation Job Evaluation process begins … [Read more...] about Job Evaluation
Employee Attrition
Definition: Employee Attrition refers to the employee's departure process from the company in which employees leave the job due to unavoidable reasons and are not replaced for a long time. This means that the vacancies remain open for a long time or the role is eliminated completely, i.e. the company does not hire anyone else for that position. It is an unexpected reduction … [Read more...] about Employee Attrition
Social Commerce
Definition: Social Commerce is a subtype of e-commerce. The word 'social commerce' is a combination of two words, i.e. social media and e-commerce. It is the buying and selling of items by the shoppers directly while using their social media platforms. In social commerce, users can complete the whole buying process without leaving the social media platform where they found … [Read more...] about Social Commerce
Window Shopping
Definition: Window Shopping is a practice of spending time looking at the products or items displayed in the storefront, having no intention to purchase. It is a form of non-purchasing behaviour. It is an important element of shopping which allows the shoppers to use many senses and spend time analyzing. It is a recreational activity performed by the desire to buy something and … [Read more...] about Window Shopping
Marketing Funnel
Definition: In simple terms, a marketing funnel is a funnel-like model that represents the path a customer takes, from discovering your brand until they buy your product. The basic marketing funnel has four stages that explain the customer's engagement with the brand: Attention: It is the stage where the customer comes to know about you through a friend, a social media … [Read more...] about Marketing Funnel
Job Specification
Definition: Job specification can be described as the written statement which lists out the minimum qualification, traits and characteristics (both physical and mental) which the incumbent must possess for getting the job done satisfactorily. It translates the job description into important human qualifications, traits and background required for the performance of the job … [Read more...] about Job Specification
Service Marketing Triangle
Definition: The Service Marketing Triangle is a strategic marketing model for service companies that depicts the relationship between companies, employees and customers. The model states three types of marketing which the service organization must undertake effectively in order to succeed. It displays three interconnected groups, i.e. company, employees (service provider) … [Read more...] about Service Marketing Triangle
Hindu Undivided Family (HUF)
Definition: HUF, an acronym for Hindu Undivided Family, is a joint Hindu family. It comprises persons who are direct descendants of a common ancestor. It includes the wives and children of male descendants. The aim of creating HUF is to make families stay together, and control of the business stays within the family. 'Undivided Family' means any family whose property is not … [Read more...] about Hindu Undivided Family (HUF)