Definition: A presentation is a form of communication in which the speaker conveys information to the audience. In an organization presentations are used in various scenarios like talking to a group, addressing a meeting, demonstrating or introducing a new product, or briefing a team. It involves presenting a particular subject or issue or new ideas/thoughts to a group of … [Read more...] about Presentation
Material Management
Definition: Materials Management is one of the main functions of SCM i.e. supply chain management. It is concerned with all the activities related to the flow of material. It covers - planning, sourcing, procurement, scheduling, storing, providing, and controlling appropriate materials. By the term 'materials' here we are referring to both - Direct Material and Indirect … [Read more...] about Material Management
Employee Retention
Definition: Employee Retention refers to the ability of the organization to avoid the turnover of the employees. That is to keep its invaluable manpower. Besides, it is a state wherein the employees opt to stay and work for their current company. Also, they don't look for other job prospects. Therefore, it is diametrically opposite to employee turnover. In addition, it is a … [Read more...] about Employee Retention
Corporate Citizenship
Definition: Corporate Citizenship is the responsibility of the corporation to develop the value of the business by working for the well being of all the parties with which it deals. It implies the social responsibility of business and the degree to which it adheres to legal, environmental, cultural, ethical and economic responsibilities. Above all, it is a philanthropic … [Read more...] about Corporate Citizenship
Demotion
Definition: Demotion implies the unavoidable reduction in the rank or designation of the employee, within the hierarchy of the organization. It can be a permanent reassignment of the employee to a lower rank than the rank he is working on currently. Further, the rank in which the employee will work after demotion shall contain lower responsibilities and will require a lesser … [Read more...] about Demotion
Types of Business Report
A Business Report is a systematic and objective presentation of facts and information that assists in decision making. There are many types of business reports which are divided into different categories. Types of Business Report On the basis of Need Routine Report Routine Reports facilitates a firm in monitoring and regulating processes and procedures. These reports … [Read more...] about Types of Business Report
Audit Working Papers
Definition: Audit working papers refer to the document in which the auditor writes facts, data, analysis of accounts while performing an audit of the enterprise. It is a written record that an auditor keeps relating to: Evidence found during the process of audit Methods and procedures that an auditor follows Conclusion drawn It covers all the data that the auditor … [Read more...] about Audit Working Papers
Operation Costing
Definition: Operation Costing is a system of costing adopted when the firm manufactures many variants of a final product by using different raw materials but with the same conversion process. In other words, the process through which the product passes is the same. But the materials used to produce them differs. Due to this characteristic, we call it Hybrid product costing. … [Read more...] about Operation Costing
Business Report
Definition: Business Report implies a formal document that presents facts, information, arguments, statistical data, analysis of research, etc. related to business interest, in a systematic manner. It is factual, orderly and unbiased communication, prepared to serve a business purpose. It is an analysis, evaluation, assessment or review of specific events, issues, set of … [Read more...] about Business Report
Retrenchment
Definition: Retrenchment is a situation involving permanent termination or discharge of an employee's services by an employer for any reason whatsoever. It is forced on both parties, i.e. employer and employee. One can commonly see it in areas like plantations, agricultural services, food industry, machinery manufacturing and textile industry. This takes place due to … [Read more...] about Retrenchment