Definition: External Environment refers to the part of the business environment which comprises all the outside elements or forces that affect the business operations. As a business cannot survive in isolation, it has to act or react effectively to every happening, just to keep the business going. Therefore, the external environment has the capability of influencing the … [Read more...] about External Environment
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Productivity
Definition: Productivity implies the quantitative relationship between what is produced (output) and how many resources are used during production (input). In other words, it is the ratio between the output of goods and the input of resources consumed. Hence, an increase in productivity indicates an increase in output, which is proportionately higher than the increase in … [Read more...] about Productivity
Money
Definition: Money refers to an economic measure that acts as a commonly accepted exchange medium, to pay for goods and services, repay debts, and settle various transactions. Further, those exchanges which are carried out without the mediation of money are called as a barter exchange. In finer terms, money is a man-made creation, which is introduced with an aim of overcoming … [Read more...] about Money
Credit Control
Definition: Credit Control is a function performed by the Central Bank (Reserve Bank of India), to control the credit, i.e. the demand and supply of money or say liquidity in the economy. With this function, the central bank regulates the credit granted by the commercial banks to its customers. It aims to achieve economic development with stability as well as to manage the … [Read more...] about Credit Control
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 return for the … [Read more...] about Employee Benefits
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 money supply, inflation or deflation, government … [Read more...] about Macroeconomics
Macro Environment
Definition: Macro Environment can be described as the collection of those factors and conditions, which has the capability of influencing the business positively or negatively. Macro Environment is the type of external business environment in which the firm and its micro-environmental forces exist which gives opportunities or pose threats to the firm. It comprises of the … [Read more...] about Macro Environment
Public Finance
Definition: Public Finance implies a branch of economics, which is concerned with government activities and the various sources of financing expenditure. Basically, it deals with government revenue, expenses, and debt, as well as its impact on the entire economy. As its name suggests, public finance is all about the management of finances of the public authorities or public … [Read more...] about Public Finance
Money Laundering
Definition: Money laundering can be understood as an act of concealing the identity or source of money obtained illegally, to make them appear to have obtained out of legal sources. Simply put, money laundering is the process of disguising the origin, i.e. the source from which money is received due to criminal activity, changing its form and transferring them into a … [Read more...] about Money Laundering
Bonds
Definition: Bonds can be defined as the negotiable instrument, issued in relation to borrowing arrangement, that indicates indebtedness. It is an unsecured debt instrument, in which the bond investor extends credit to the issuer, which in turn commits to repay the loan amount on the specified maturity date, along with interest throughout the life of the bond. The issuer can be … [Read more...] about Bonds