In the business glossary, you might have encountered the terms marketing concept and selling concept end number of times. The marketing concept concentrates on the buyer's needs and then the means are identified to meet out those needs. Therefore, the customer is regarded as the king of the market. On the other hand, selling concept stresses on the needs of the seller and so, it is the seller who rules the market. These two are the most misconstrued however there exists a fine line of … [Read more...]
Difference Between Movement and Shift in Demand Curve
In economics, demand is defined as the quantity of a product or service, that a consumer is ready to buy at various prices, over a period. Demand Curve is a graph, indicating the quantity demanded by the consumer at different prices. The movement in demand curve occurs due to the change in the price of the commodity whereas the shift in demand curve is because of the change in one or more factors other than the price. The demand curve is downward sloping from left to right, depicting an … [Read more...]
Difference Between Common and Preferred Stock
'Stock', a term used to denote securities that carry ownership interest and reflect potential claim on the assets and income, earned by the corporation. It is classified into two broad categories, i.e. common stock and preferred stock. The former implies the ordinary stock issued by the companies, while the latter, are the ones that carry preferential rights regarding dividend payment and repayment of capital. Stock indicates, the net worth or shareholder's equity, of the firm, which can be … [Read more...]
Difference Between Culture and Civilization
Have you ever wondered why the one who is poor and in a shabby attire is regarded as uncivilized, even though he may be the most cultured person and the one in a sophisticated outfit, is called civilized, but, may not be having the sense of culture? Culture is everything about the human society, i.e. it refers to the knowledge and features of a specific group of people living in a region. On the other extreme, civilization is the breakthrough of the human society meaning that it is the … [Read more...]
Difference Between LLC and Inc.
While making a choice between business types, most business owners get confused between LLC or Inc. The former combines two forms of business, i.e. partnership and corporation. On the other hand, the latter means Incorporated, i.e. which represents the form of corporation, such as S corp or C corp. The basic question that arises before the entrepreneurs when starting a new business venture is, which business type to choose? The business structure is not just a status, rather all the legal … [Read more...]
Difference Between Coordination and Cooperation
Coordination refers to the organisation of all the activities in an orderly manner, to achieve unanimity of individual efforts in the pursuit of group goals. On the flip side, cooperation is a discretionary action of individuals to work together or help one another, for a mutual benefit. It is a joint effort of the members working in the organization for accomplishing a defined target. The 3C's vital for teamwork are coordination, cooperation and collaboration. It is quite common to … [Read more...]
Difference Between Mediation and Arbitration
The difference between mediation and arbitration lies in the nature of the judgement taken by the experts. While the decision taken by the arbitrator is binding on the parties, the mediator does not make the judgement but helps the parties in arriving at an agreement. The occurrence of the dispute is very common in every field not only in business, especially when the issue is related to an opinion, unanimous agreement of the parties is rare. There are various alternatives of dispute … [Read more...]
Difference Between S Corp and C Corp
There are slight and subtle differences between S Corp and C Corp, which lies in the way, these two entities are taxed, i.e., while the S Corporation is taxed at individual level C Corporation, is taxed at corporate and individual level. The term corporation is used to refer a separate legal entity, created under the law, having limited liability, perpetual succession and the ability to raise funds from the market by selling its stock. There are two types of Corporation, registered under IRS … [Read more...]
Difference Between Grant and Scholarship
There is a common misconception of the students that grant and scholarship are same, as both the schemes offer money to the students without having to repay them. However, there is a thin line of difference between these two terms, which remain unnoticed by many. While grants are awarded to all the persons who are in need of it, but scholarship is awarded to students only. Whether it's a student or a businessman or any other entity, finance is the basic requirement, which buys all the stuff, … [Read more...]
Difference Between Industry and Sector
Many think that the term industry and sector resemble each other, as both are used to indicate enterprises that either operates in a particular segment or their business type are identical. However, the two terms actually indicate two different divisions of the economy. While the industry is an umbrella term, that covers all the firms which are engaged in similar business activities. On the other hand, sector refers to the broad classification of the economy, into various segments. In an … [Read more...]
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