Business

Definition: Corporate Governance, as the name suggests, is the framework of principles, policies, rules, relationships, industry practices and procedures that defines the way in which companies are to be governed, resources are to be used, legal rules to be complied with and organizational decisions to be taken, in an ethical, and socially responsible manner. Corporate … [Read more...] about Corporate Governance

Definition: Logistics management refers to the comprehensive planning, organization and controlling of physical flow, storage and movement of materials, equipment, supplies, finished goods and related information from the point of origin to the point of consumption, to satisfy the customer's needs, at a profit. The movement of goods implies the forward and reverse flow of goods … [Read more...] about Logistics Management

Definition: Dividend can be defined as that portion of the corporation's earning which is distributed to the shareholders as a return for the amount invested by them in the publicly listed company by purchasing its shares. In finer terms, it is nothing but a section of the firm's distributable profit, payable to the shareholders whenever announced. It is distributed as a … [Read more...] about Dividend

Definition: Warehouse refers to the place where surplus goods are stored in a systematic manner so as to keep their quality, value and usefulness intact. Warehouses facilitate in keeping a proper record of the items as to where they are stored, their time of arrival, until when the goods have been there and the quantity of stock in hand. It is the venture which is … [Read more...] about Warehouse

Definition: In general, verification refers to the confirmation of truth. In auditing, the term 'verification' refers to a process followed during audit program to check the accuracy of the Balance Sheet items, not just by scrutinizing the documentary evidence at hand, but also checking that the assets and liabilities recorded in the balance sheet exist in reality. Meaning … [Read more...] about Verification

Definition: Competitive Advantage, as the name signifies the upper hand of a business entity over its market rivals, which is the result of the company's strategies and continuous efforts. It represents the combination of distinguishing features of the firm and its products, which has value to the target customers and are considered peerless by them. In finer terms, … [Read more...] about Competitive Advantage

Definition: Directing is an action-oriented function of management, in which the superior communicates with and provides leadership to their subordinates about what to do and how to do it, while motivating them to give their best in the performance of the task, and observing them that they do it in the manner specified, so as to ensure quality in the achievement of … [Read more...] about Directing

Definition: Direct cost, or otherwise called as prime cost or traceable cost. It is the cost which can be directly allocated to the specific cost unit, cost centre or cost object, i.e. product, facility or project. On the basis of traceability, costs are classified into two types, wherein the first is direct cost, the other being indirect cost. Example Cost of Plastic for … [Read more...] about Direct Cost

Definition: Micromanagement implies the management style wherein the manager does continuous and thorough checking of work and performance. It is an act of high-level supervision and controlling minute details of a person's work to such an extent that it delays the task. Such a style often generates results in the short term, but it has a very negative impact on the mental … [Read more...] about Micromanagement

Definition: Influencer Marketing is a trending form of marketing that most brands use to promote their products by collaborating with social media influencers. It involves endorsements and product mentions from influencers. Companies often ask these influencers to promote their products on their social media page to get the attention of their followers. For a follower, an … [Read more...] about Influencer Marketing