Employee Benefits

Definition: Employee Benefits implies the financial or non-financial compensation, offered to the employees, which forms part of their employment contract. It has an important role to play in differentiating two jobs offering the same salary, which vary in terms of the benefits offered. In finer terms, any kind of consideration given to the employees, in…

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Decision Making

Definition: Decision Making is the cognitive process of selecting a course of action, out of a set of available alternatives, so as to achieve the goals of the organization. It is an indispensable part of the management, as decisions are made at each level by the management executives. Characteristics of Decision Making The characteristics of…

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Digital Economy

Definition: In simple words, the digital economy, is an economy which operates predominantly with the help of digital technology. It implies the global network of economic activities, processes, transactions and interactions among, people, businesses, devices, etc. which is supported by Information and Communication Technology (ICT). In this, the maximum number of business transactions are concluded…

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Knowledge Process Outsourcing (KPO)

Definition: Knowledge Process Outsourcing (KPO) is a business arrangement in which knowledge or information-oriented activities or services, as well as complex tasks and processes of a business, are outsourced. The provision of service requires collection, creation, interpretation, management, and dissemination of the knowledge. Further, knowledge creation demands analysis, identification of pattern, evaluation and judgement: It…

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Deed

Definition: A deed is a formal and dignified instrument. In general, it refers to any document by which two or more parties agree to put into force any right or liability. For instance: Gift Deed, Partnership Deed, Trust Deed, Deed of Family Settlement, Mortgage Deed, Lease Deed, Sale Deed, etc. In law, a deed is…

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Minutes

Definition: Minutes, otherwise called as the Minutes of Meeting (MoM) is the immediate comprehensive written account of the meeting, explaining the business transacted at the meeting. It comprises of accurate and fair notes of the proceedings that happened at the meeting. Contents of Minutes The contents of the minutes are divided into two categories: General…

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Annual General Meeting (AGM)

Definition: Annual General Meeting, shortly referred to as AGM, is the compulsory yearly formal get together of the company’s shareholders held to transact lawful business. It is a significant event organized by the company every year to discuss the activities, strategies and performance with its shareholders. As per the Companies Act, 2013 every company whether…

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Macroeconomics

Definition: Macroeconomics refers to the field of study in Economics in which we learn about those factors which have an impact on the entire economy, as well as how these factors interact in the economy. It talks about broad economic issues such as full employment or unemployment, high or low rate of growth, policies on…

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Advertising

Definition: Advertising refers to a marketing strategy wherein an identified sponsor pay for space/slot, so as to promote a product as it reaches millions of people in one time and gets the attention of the target audience which induces them to buy the product. It is a form of communication, which aims at creating awareness,…

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Economic Order Quantity (EOQ)

Definition: Economic Order Quantity, popularly known as EOQ is the standard order quantity of materials which a firm should order at a given point in time with an aim of minimizing the annual inventory costs like holding/carrying cost, and order cost. It is a production scheduling model which was coined by Ford W. Harris in…

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