In simple terms, the law may be understood as the systematic set of universally accepted rules and regulation created by an appropriate authority such as government, which may be regional, national, international, etc. It is used to govern the action and behavior of the members and can be enforced, by imposing penalties. Many times the term law is juxtaposed with the term ethics, but there is a difference, as ethics are the principles that guide a person or society, created to decide what is … [Read more...]
Difference Between PERT and CPM
Project management can be understood as a systematic way of planning, scheduling, executing, monitoring, controlling the different aspects of the project, so as to attain the goal made at the time of project formulation. PERT and CPM are the two network-based project management techniques, which exhibit the flow and sequence of the activities and events. Program (Project) Management and Review Technique (PERT) is appropriate for the projects where the time needed to complete different activities … [Read more...]
Difference Between Customer and Client
While clients refer to someone who looks for or uses professional service from the service provider (i.e. professional such as lawyer, doctor, chartered accountant, consultant, etc.) and pays a fee for the same. On the contrary, Customers are the one who is going to buy the product from the shop or business. He/She is someone, with whom the company deals and is considered as the king of business. In the business world, you might have frequently come across the terms customers and client, that … [Read more...]
Difference Between Sales and Revenue
In business glossary, the terms sales and revenue are often used as synonyms, but there is a fine line that demarcates the two. Sales refer to the proceeds received from the selling of goods and services to the customers. It represents the contract between the buyer and seller that incorporates transfer of title of goods, in exchange for adequate consideration. On the other hand, revenue indicates the total amount of cash generated by the company from its diverse range of activities. It … [Read more...]
Difference Between Grant and Loan
Grants are the financial assistance that is non-repayable in nature. It is provided by the government to the indivduals or entities, to fulfill a particular purpose, which is related to the welfare of general public. A grant is not exactly same as a loan, which means a sum of money borrowed from a financial institution or bank by an individual or entity, for a reason, that requires repayment along with the interest after the term expires, for which it is repaid. While a loan requires … [Read more...]
Difference Between Nominal GDP and Real GDP
Gross Domestic Product or GDP refers to the economic value of goods and services produced within the nation's boundaries, in a particular financial year plus income earned by foreign residents locally less income earned abroad by country's residents. When the GDP is estimated at current prices, it exhibits Nominal GDP, whereas Real GDP is when the estimation is made at constant prices. Both Nominal and real GDP are considered as a financial metric for evaluating country's economic growth and … [Read more...]
Difference Between Savings and Investment
Savings refers to that part of disposable income, which is not used in consumption, i.e. whatever is remained in the hands of a person, after paying all the expenses. On the other end, Investment is the act of investing the saved money into financial products, with a view of earning profits. It alludes to the increase in capital stock. For an enterprise, investment connotes the production of new capital goods, such as plant and machinery or change in inventories. Many people juxtapose savings … [Read more...]
Difference Between Bollywood and Hollywood
When it comes to entertainment, the first thing that strikes our mind is dance, music, play, comedy, romance, etc. In short, cinema is the best source of entertainment. Hollywood is the biggest cinema industry based in America, Bollywood accounts for a part of the Indian movie industry. Bollywood and Hollywood are the world famous cinematic giants that won the hearts of billions of people, from their movies, music, dance, drama and especially the story line. These two are the apex movie … [Read more...]
Difference Between BPO and KPO
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...]
Difference Between Outsourcing and Offshoring
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...]
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