The tangible assets are the class of assets that are physically present, thus they can be seen or touched. On the other hand, the intangible assets represent the assets which are abstract, i.e. they can neither be seen nor touched, but can only be experienced. Assets are anything having some value, which is owned by an individual or firm and is expected to provide economic benefit in future. It is the basic business requirement that is needed by the company for its smooth functioning. It is … [Read more...]

While income is generated, wealth is created, there is a big difference between two. Many think that these two terms are one and the same thing, but in reality, income is a stream of money, which a person receives from different sources such as salary, rent, profit, interest etc., that helps in the creation of wealth and wealth is the total market value of all the assets possessed, stored or saved by a person for future use. The former is the money earned by a person, over a limited period … [Read more...]

GDP, i.e. gross domestic product refers to the aggregate market value of all the finished goods and services produced by a country. On the other hand, GNI stands for gross national income which takes into account country's GDP and net income earned abroad. National income refers to the ultimate outcome of all economic activities of the country during a period of one year, measured monetarily. It is an imperative macroeconomic concept, that ascertains the business level and the economic status … [Read more...]

The structured interview uses preset questions, which are asked to all the candidates. On the other extreme, in an unstructured interview, the questions which are asked are not determined in advance, rather they are spontaneous. Interview is described as an in-depth conversation between two or more persons, in a formal way, so as to figure out candidate's acceptability for the job. It is one of the most effective tools for data collection and selection. It is one to one communication between … [Read more...]

Research process starts with the collection of data, which plays a significant role in the statistical analysis. We quite commonly use the term 'data' in the different context. However, in general, it indicates the facts or statistics gathered by the researcher for analysis in their original form. When the data is processed and transformed in such a way that it becomes useful to the users, it is known as 'information'. While data is an unsystematic fact or detail about something, information … [Read more...]

Gone are the days when the commercial activities like the exchange of goods and services for money, between parties, takes place only in the traditional mode, i.e. the customer has to go to the market, look at the variety of products, choose the required stuff and the purchasing them by paying the specified amount. But with the advent of e-Commerce, people can buy goods, pay bills, or transfer money in just one click. Many people, still prefer traditional commerce over e-Commerce, due to … [Read more...]

As the term, 'intra' means 'within', so the communication that takes place within a person is called intrapersonal communication. On the other hand, the term 'inter' means 'between', so when the communication occurs between two or more persons, it is said to be interpersonal communication. We, humans, are social animals, and we always need someone to talk or share our opinions, news, and even feelings. Communication is a substantial part of our life, whether we say something or not, it … [Read more...]

Supply Chain is the assemblage of all persons, entities, resources, processes and technologies which participate in the production and distribution of the goods and services, effectively to the final consumer. In the business world, we often hear the terms like vendors and suppliers, as they are the important links of the supply chain process. While vendor is someone who offers a product to customers for sale, who is the last link of the process economic production chain. On the other hand, a … [Read more...]

As every coin has two sides, likewise, margin and markup are two accounting terms which refers to the two ways of looking at business profit. When the profit is addressed as the percentage of sales, it is called profit margin. Conversely, when profit is addressed as a percentage of cost, it is called as markup. While markup is nothing but an amount by which the cost of the product is increased by the seller to cover the expenses and profit and arrive at its selling price. On the other hand, … [Read more...]

The two promotional strategy which is applied to get the product to the target market is Push and Pull Strategy. While in Push strategy, the idea is to push the company's product onto customers by making them aware of it, at the point of purchase. Pull strategy, relies on the notion, "to get the customers come to you". The two types of strategies differ, in the way consumers are approached. The term is derived from logistics and supply chain management, however, their use in marketing is not … [Read more...]