Outsourcing of routine or peripheral business functions is in vogue. It implies contracting with the third party service provider, with respect to operations and responsibilities of business processes. At present, there is hardly any multinational company which is left untouched from outsourcing its business operations. Over the time, Business Process Outsourcing (BPO) has gained ample importance, by providing services related to marketing, human resources, customer support, technical support, … [Read more...]

In the last few decades, a trend has been noticed, with respect to the outsourcing and offshoring of business processes and activities, by big business houses. Outsourcing refers to the delegation of the routine or peripheral business processes to some external organization, so as to free up their resourcesi.e. money, time and manpower, for the core activities of the business. On the contrary, offshoring can be understood as the is a type of outsourcing whereby the business process or … [Read more...]

Marketing is defined as the set of activities which are undertaken by the companies to provide satisfaction to the customers through value addition and making good relations with them, to increase their brand value. It identifies and converts needs into products and services, so as to satisfy their wants. There are two types of marketing namely, domestic and international marketing. Domestic marketing is when commercialization of goods and services are limited to the home country only. On the … [Read more...]

Microfinance means the broad spectrum of financial services such as loans, insurance, savings etc. provided to the people of low-income groups. Conversely, Microcredit alludes to a small loan provided, at a low-interest rate, to the persons of below poverty line to make them self-employed, i.e. to help the small entrepreneurs start their own business. The scheme is offered to the people of below poverty line who lack collateral, have no access to basic banking services and are not eligible to … [Read more...]

Intellectual Property, implies the human mind creations, such as artistic works, inventions, images, designs, literary, etc. It is grouped into two classes, i.e. industrial property, which covers trademark, patent, industrial design, etc. and Copyright, that comprises of artistic and literary work. Copyright, as its name suggests, is a right conferred by law that protects the original piece of work from being copied, such as novels, plays, films, photographs, paintings and so on. On the other … [Read more...]

There is always a buzz when we talk about prepaid and postpaid connection. As the name suggests, prepaid refers to the payment made in advance and services are availed afterward. On the other hand, the postpaid connection is one in which you first avail the services and thereafter pay the price for it. Professionals, employees, and people belonging to business class prefer postpaid over prepaid while youngsters believe prepaid is better than postpaid. So the fight between these two SIM … [Read more...]

A company's goals and objectives are the foundation, which measures how much distance it has covered to attain its vision. Goals are defined as the lifelong aims, which an individual or entity endeavor to achieve something. It determines what the company is attempting to accomplish. On the other hand, objectives are the specific milestones which a person plans to achieve in a limited period. These are precise, measurable, time-based, actions that assist in the achievement of goal. Every … [Read more...]

The market is flooded with millions of products, of same nature, type, size and quality, which make it hard to pick one product over the other. As a buyer, you can specify the product of your choice by setting a standard for the manufacturing entities. In this context, the term warranty is quite commonly used. It implies a formal assurance given to the customer about the state of the product are true and declares that the manufacturer will be responsible for the repair or replacement, if found … [Read more...]

Economic Growth refers to the rise in the value of everything produced in the economy. It implies the yearly increase in the country's GDP or GNP, in percentage terms. It alludes to a considerable rise in the per-capita national product, over a period, i.e. the growth rate of increase in total output, must be greater than the population growth rate. Economic Growth is often contrasted with Economic Development, which is defined as the increase in the economic wealth of a country or a … [Read more...]

National Income implies the ultimate outcome of various economic activities of a country, conducted during given period, valued in monetary terms. It is the supreme macroeconomic variable that helps to gauge the economic soundness of the nation. Of different measures employed in the analysis of national income GDP and GNP are greatly used. GDP or otherwise called as gross domestic product delineates the sum total of the market value of all goods and services, produced within the geographical … [Read more...]