The level of productivity, in the production, determines the profitability, efficiency and performance of the enterprise, i.e. the higher the productivity of the firm the greater will be the earning capacity. It aims at determining the relationship between the input and output, in a particular production process. In short, it is nothing but attaining the highest possible outcome, while consuming minimum factors of production. Productivity is often misconstrued with production, but there … [Read more...]
Difference Between Production and Operations Management
The primary objective of production and operations management is to effectively manage and utilize those resources of the firm that are essential for the production of goods and services. Production management refers to the management of activities related to the production of goods. On the other hand, operations management is a step ahead of production management, or it can be said that the production management is a part of the operations management. Operations Management, as the name … [Read more...]
Difference Between Kharif and Rabi Crops
Kharif and Rabi are the two cropping patterns which are adopted in many Asian countries, depending upon the monsoon. The cropping season of Kharif crops starts with the onset of monsoon and ends when the rainy season is over. On the other hand, Rabi crops are grown in winter, i.e. sown when monsoon ends and harvested before the advent of the summer season. Kharif crops require hot and wet climate whereas cold and dry climate is best suited for Rabi crops. Rainfall plays a significant role in … [Read more...]
Difference Between Compensation and Benefits
Compensation is a term closely related to the labour market. When the supply of labours is short in the market, better compensation can fulfil such shortage. It contains both direct and indirect components. Compensation refers to the remuneration that a worker gets from his/her employer in exchange for the work and contribution made to the organization. On the contrary, benefits imply the non-monetary reward that an employee earns as a part of the employment relationship, in addition to the … [Read more...]
Difference Between Short Term and Long Term Capital Gain
When there is a profit from the sale or transfer of a capital asset such as building, car, jewellery, shares, etc. it is known as capital gain, which is taxable under the Income Tax Act, as it is regarded as the income of the previous year in which the transfer occurs. It can be short-term capital gain or long-term capital gain. The short-term capital gain refers to the profit earned by an individual on account of the transfer of the short-term capital asset. On the other extreme, when a … [Read more...]
Difference Between Scholarship and Fellowship
There are many schemes run by the government to further the education of the needy and meritorious students, based on specific criteria which should be fulfilled by the student, in order to avail it. Scholarship and fellowship are two such schemes which are quite commonly misconstrued in this regard. The scholarship is defined as a money granted by the government or any other organization to the students who fit the criteria set by the granting authority. Conversely, the fellowship is the … [Read more...]
Difference Between Distributive Negotiation and Integrative Negotiation
Negotiation is described as the two-way communication through which one can get what he/she want from others. It is a process in which two parties seek to resolve their conflicts, by modifying their demands, to reach a mutually acceptable solution. The two common types of negotiation are distributive negotiation and integrative negotiation. Distributive Negotiation is one in which one party wins, and other loses. On the other extreme, integrative negotiation can be described as the … [Read more...]
Difference Between Fundamental Rights and Human Rights
In general, 'rights' refers to the moral or legal entitlement over something. As per law, rights are considered as the reasonable claim of the individuals which are accepted by the society and approved by statute. It can be fundamental rights or human rights. The rights which are fundamental to the life of the citizens of a country are known as fundamental rights. On the other hand, human rights imply the rights that belong to all the human beings irrespective of their nationality, race, … [Read more...]
Difference Between Nominee and Legal Heir
Every person has to make the decision once in his/her life, as to who is going to be the ultimate beneficiary of the property, after his/her demise. It is important to determine whose hands will get the property legally, i.e. legal heir or nominee. The two can be the same person, but not in all the cases. A nominee is someone, who is nominated by the deceased person when he/she is alive, to take care of the assets and investments after his/her demise. On the contrary, the legal heir is the … [Read more...]
Difference Between Summon and Warrant
Summon is a legal notice, issued both in case of civil and criminal proceeding, in which a court orders an individual either to appear or to produce a document before the court, at a stipulated time and place. On the other extreme, a warrant is described as a legal document issued by a judge or magistrate, which empowers a police officer to make an arrest, search or seize premises or undertake any action, concerning the administration of justice. In short, the two legal documents serve the … [Read more...]
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