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A budget is defined as a financial instrument that can be used to plan and project future values using previous experience. It is a numerical statement that outlines what the future direction of action will be in numerical form and it is very important for budgetary control. It covers a specified period of time and…
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A market with many buyers and sellers involved in buying and selling homogeneous products with perfect market knowledge is called a perfectly competitive market. The fruit and vegetable market is an example of a perfectly competitive market. Definition of Perfect Competition According to A. Koutsoyiannis, “Perfect competition is a market structure characterized by a complete…
The word “scanner” refers to examining or looking. In the business world, environmental scanning is the careful examination of both business and internal environments to determine the risks and opportunities that come with it. It is a continuous process where the environment is regularly examined and diagnosed. Also, the term “scanning” is short-term forecasting. In…
The QUEST Analysis, or “Quick environmental scanning Technique,” describes a procedure that allows for the estimation of diverse environmental variables and evaluates their impact on an organization. It attempts to analyze the forces of nature by analyzing the impact of developments and patterns that are occurring in the market. In the following section, you will…
In this article, we will discuss the different types of entrepreneurs that is available in the corporate sector. Also, we are going to mention all the entrepreneurs based on category. Lets start with meaning of entrepreneur and basic concept of entrepreneur. Who is an Entrepreneur? An entrepreneur is someone who starts and runs their own…
A controller is responsible for all accounting-related activities, including high-level accounting, managerial accounting, and finance activities within a company. The controller reviews fabric budgeting variances or expenditure variances to management. It is also known as comptroller. In the next section, we will learn the functions of controller and responsibilities. Functions of Controller The functions of…
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Management accounting is a very crucial part of accounting. It is highly impactful in decision-making. Here, you will learn the nature of management accounting and the scope of management accounting for your better understanding. You have studied the nature scope of management accounting. Meaning of Management Accounting The practice of delivering financial resources and information…
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In this blog, we will discuss the objective of market segmentation and its benefits of market segmentation. Companies can not connect with all customers in large, broad, diverse markets. However, they can divide such markets into consumer segments or groups with definite requirements and wants. A firm can’t satisfy every customer with the same product,…
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A Retail store is any business enterprise whose sales volume comes mainly from retailing. Retail is the end or final stage of economic activity. Any organization sells to the final consumer, whether a manufacturer, wholesaler, or retailer. It doesn’t matter how goods and services are sold and where goods are sold. Therefore, we will discuss…
Read More “Top 8 Functions | 3 Types of Retailers in Marketing” »
Nowadays, marketing is an important area of study throughout the world. Marketing starts when you get the idea of launching any product in a specific market. For that, you test the market for the feasibility of the product. After that, design the product accordingly so that its supply & demand increases. To understand this concept,…
