To maintain ecological balance, forests play a vital role, which cannot be neglected. When a huge area of land is covered by trees, shrubs, bushes and other plants, and not used for other purposes, it is called a forest. Nowadays, due to the rapid increase in industrialization and urbanization forests are being cleared for urban land use. This practice of cutting down the trees of the forest and transforming them for other purposes is called deforestation. As deforestation has a number of … [Read more...]
Difference Between Race and Ethnicity
One can guess a person's belongingness to a particular place before they introduce themselves easily by recognizing their race or ethnicity. Basically, these are two ways which classify people according to their characteristics, into various social groups. The race is understood as the division of human beings, depending on their biological attributes such as skin colour, built, hair, height, eye formation, etc. On the other hand, ethnicity refers to the state of being from a specific social … [Read more...]
Difference Between Customer Service and Customer Experience
In the business world, customers are given topmost priority. If the customer is happy and satisfied with your offering, it can do miracles for your business. Customer service is all about the customer's interaction with the company's executive at the time of seeking assistance, concerning the company's product or service. It is often contrasted with the word 'customer experience', which is a broader concept, in comparison to customer service. Customer Experience is about analysing how the … [Read more...]
Difference Between Human Capital and Human Development
In economics, Human capital refers to the skilled, educated, trained and competent people who are able to produce more human capital, which adds to the strength and wealth of a country or company, and helps in the achievement of goals timely, smoothly and effectively. On the contrary, Human Development is all about increasing the quality of human life, i.e. improvement in the lives of people, opportunities to grow and make better choices. So, human development is nothing but is the overall … [Read more...]
Difference Between Systems Approach and Contingency Approach
A number of approaches to management has been coined so far which seeks to describe the nature and content of the management with different assumptions and views. Of all the approaches developed systems approach has an upper hand over the other approaches, because of its closeness to reality. It suggests definite solutions to the problems. On the other hand, the contingency approach is an extended version of the systems approach. It relies on the assumption that there is no single way of … [Read more...]
Difference Between Industrial Relations and Employee Relations
While industrial relations is clearly associated with trade unions, collective bargaining and industrial actions. Employee relations stress on the management of the employment relationship while developing a positive psychological contract. Industrial relations and employee relations are the two common terms, which highlights a process through which people and their organization connect and communicate, at the workplace, for reason such as smooth functioning of the organization and their … [Read more...]
Difference Between Introduction and Executive Summary
The word 'introduction' needs no introduction, as we all are quite familiar with it, due to its recurrent usage in our day to day life. In general sense, it implies the official presentation of one person to another. However, when it comes to submission of reports, assignments or other documents, it refers to the preliminary piece of information provided at the beginning, to have an idea of what the document contains and why it is prepared. Many of us think that executive summary is similar … [Read more...]
Difference Between Programmed and Non-programmed Decisions
Programmed Decisions can be understood as, those decisions which can be taken with the help of customary or routine approach. On the other hand, Non-programmed Decisions are the ones that are taken when there is a rare or unexpected problem faced by organizations. Decision making is a tough task wherein a person has to weigh all the pros and cons of each alternative, in order to logically choose one course of action out of the various alternatives available. While making any decisions, one … [Read more...]
Difference Between Depreciation and Devaluation of Currency
In economics, depreciation and devaluation of currency are the two measures of changing the relative price of imports and exports of goods. Depreciation of currency implies the drop in the market value of the domestic currency with respect to foreign currency. On the contrary, the Devaluation of currency can be understood as the government's conscious downward adjustment of the market value of the domestic currency in relation to gold and reserve currency. According to the theory of … [Read more...]
Difference Between Consumer Market and Business Market
The market can be understood as the place, through which the business firm delivers value to its customers. The market can be divided into the business market, which sells goods to those entities that use it for further production or resale, and consumer market, which can be understood as the marketplace for consumers, wherein products are sold by the business entities to the consumers, for final consumption. The crucial difference between consumer market and business market is that in a … [Read more...]
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