Business

Definition: The Ethics is the branch of philosophy that deals with the principles of morality and the well-defined standards of right and wrong that prescribe the human character and conduct in terms of obligations, rights, rules, benefit to society, fairness, etc. In other words, the ethics encompass the human rights and responsibilities, the way to lead a good life, the … [Read more...] about Ethical Theories

Definition: The Business Process Reengineering is the examination and redesign of business process to achieve the dramatic improvement in its performance, productivity, and quality. The Business process reengineering comprises of following steps: Define Objectives and Framework: First of all, the objective of re-engineering must be defined in the quantitative and … [Read more...] about Steps involved in Business Process Reengineering

Definition: The Business Process Reengineering or BPR is the analysis and redesign of core business processes to achieve the substantial improvements in its performance, productivity, and quality. The business process refers to the set of interlinked tasks or activities performed to achieve a specified outcome. Simply, the business process reengineering means to change the … [Read more...] about Business Process Reengineering

Definition: The Strategic Alliance is a cooperative agreement between two companies that agree to share resources to pursue the common set of goals but remain independent after the formation of the alliance. The strategists Yoshino and Rangan have classified the strategic alliance based on two dimensions: Extent of organizational interaction and conflict potential among the … [Read more...] about Types of Strategic Alliances

Definition: The Strategic Alliance refers to the agreement between two or more firms that unite to pursue the common set of goals but remain independent after the formation of the alliance. In other words, when two companies come together to achieve the common objective by sharing the particular strengths (resources) with each other is called as a strategic alliance. The … [Read more...] about Strategic Alliance

Definition: The Monetised Deficit is the extent to which the RBI helps the central government in its borrowing programme. In other words, monetised deficit means the increase in the net RBI credit to the central government, such that the monetary needs of the government could be met easily. The monetized deficit results in the increase in the net holdings of treasury bills … [Read more...] about Monetised Deficit

Definition: The Primary Deficit is the difference between the fiscal deficit of current year and the interest paid on the previous borrowings. Thus, primary deficits are government’s borrowings exclusive of interest payment. Generally, the loan raised by the government is inclusive of the interest amount, and if that amount is deducted from the principal loan amount, the … [Read more...] about Primary Deficit

Definition: Fiscal Deficit refers to the financial situation wherein the government’s total budget exceeds the total receipts excluding borrowings made during the fiscal year. Thus, it can be expressed as: Fiscal Deficit = Total Expenditure – Total Receipts Excluding Borrowings Through Fiscal deficit, the government can determine the amount that needs to be borrowed in … [Read more...] about Fiscal Deficit

Definition: The Revenue deficit refers to the financial position wherein the government’s revenue expenditure exceeds its total revenue receipts. This means that government’s own earnings are not sufficient to meet the day-to-day functioning of its departments and other provisions of services. The revenue deficit is only concerned with the revenue receipts and the revenue … [Read more...] about Revenue Deficit

Definition: The Budget Deficit is the financial situation wherein the expenditures exceed the revenues. The Budget Deficit generally relates to the government’s expenditure and not the business or individual’s spending. The government’s collective deficits are termed as “National Debt”. In the case of a budget deficit, be it the Government or any business, it has to resort … [Read more...] about Budget Deficit