"Capital Reserve" means the part of profit reserved by the company for a particular purpose such as to finance long-term projects or to write off capital expenses. If we reverse the words, then we get a new term "Reserve Capital". The two terms might seem alike to a layman, but these are not one and the same thing, as they carry different meanings. Reserve Capital shows the part of the authorized capital that has not yet called up by the company and is available for drawing, if … [Read more...]
Difference Between Manufacturing and Production
Manufacturing and Production, are the two terms related to conversion of raw materials into finished products. But, Have you ever wondered, what makes them different. Manufacturing is the process of transforming raw materials into ready goods, with the help of machinery. On the other hand, production alludes to the processes or methods, that converts inputs like raw material or semi finished goods, to make finished product or services, which may or may not use machinery. Manufacturing is a … [Read more...]
Difference Between Deficit and Debt
No country in this world is self-sufficient, and it has to take help of the financial organizations and other nations to get financial assistance especially who are on the way to development. To know about the creditworthiness of a country's economy, its debt and deficit are considered. Debt is the loan taken by the government of any country, whereas Deficit is the excess of government expenditure over government revenue. Here, debt refers to the government debt, or national debt and deficit … [Read more...]
Difference Between Indemnity and Guarantee
Indemnity and Guarantee are a type of contingent contracts, which are governed by Contract Law. Simply put, indemnity implies protection against loss, in terms of money to be paid for loss. Indemnity is when one party promises to compensate the loss occurred to the other party, due to the act of the promisor or any other party. On the other hand, the guarantee is when a person assures the other party that he/she will perform the promise or fulfill the obligation of the third party, in case … [Read more...]
Difference Between Lean and Six Sigma
Every organization works for reaping more and more profit; this can be done by only two ways, i.e. getting more and more customers and eliminating unnecessary expenses, wastes and losses. In this context, lean management and six sigma are two approaches used by the firms, in general. The Lean management aimed at reducing process waste and increasing the worth of firm's product or service to the customer. Conversely, six sigma is a quality measurement, that seeks near perfection in products or … [Read more...]
Difference Between Tactics and Strategy
In a business environment, firms use various techniques, to survive, compete and grow in the long run. These techniques can be called as tactics and strategy. Tactics are the actions, projects or events, to reach a particular point or the desired end, whereas the Strategy is defined as a game plan, which can help the organization to achieve its mission and objectives. These terms are used very often, when we talk about competition among firms at the market. While tactics refers to the moves … [Read more...]
Difference Between Micro and Macro Environment
Every business organization is a part of the business environment, within which it operates. No entity can function in isolation because there are many factors that closely or distantly surrounds the business, which is known as a business environment. It is broadly classified into two categories, i.e. microenvironment, and macro environment. The former affects the working of a particular business only, to which they relate to, while the latter affects the functioning of all the business … [Read more...]
Difference Between LIFO and FIFO
LIFO, is a form of inventory management wherein the product or material received last, is consumed first and thus the stock in hand, consist of earliest consignment. On the other hand, FIFO is another method of inventory management, in which the material received first is consumed first, i.e. the issue of goods is done from the earliest lot and the stock in hand comprise of the latest lot. Inventory management is a tough task for the organizations that are completely stock oriented. Many … [Read more...]
Difference Between Internship and Externship
Internship and externship are two temporary forms of training, which many individuals undergo when they start their career. The first and foremost distinguishing point between internship and externship is that in an internship the interns get experience by actively participating in the job, whereas in externship an extern has to play a shadow role in observing an expert performing the job and learning from it. Nowadays, initial training is the prominent requirement for the freshers, in order … [Read more...]
Difference Between Performance Appraisal and Performance Management
Performance Appraisal implies a rational assessment of the performance of an individual, based on pre-determined standards. On the other hand, performance management alludes to the management of performance of the manpower working in an organization. While Performance Appraisal is a yearly system while if we talk about Performance Management, it is a continuous process that does not occur eventually. What kind of evaluation process is adopted by the organization is one of the biggest … [Read more...]
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