Category: Management

4 Disadvantages | Advantages of Responsibility Accounting

18/12/202218/07/2023 Study Notes Expert No Comments

Responsibility accounting is a very important segment of every organization and it helps to smooth flow and clear the objective to the employees. There are many benefits and drawbacks of responsibility accounting. In this write-up, we will discuss the complete advantages and disadvantages of responsibility accounting. Advantages of Responsibility Accounting The accounting system for accountability…

Marketing Management

Importance | 6 Objectives of Transfer Pricing

18/12/202221/12/2022 Study Notes Expert No Comments

Transfer price (TP) is defined as the cost of the goods or services that provide one profit center of a company to another profit center of the same organization. The value of these products or services is expressed in money and refers to the transfer price. There are some objectives of transfer pricing that play…

Marketing Management

Features | Phases of Product Life Cycle Costing

14/12/202204/08/2023 Renu Saroha No Comments

Here we will discuss the product life cycle costing, which is very important. It is a cycle of revenue, expenses, profit, and sales levels. The life span of a product could differ from a few months to some years. It includes the time between the initial ideas and the product’s removal. Features of Product Life…

Marketing Management

Application | Advantages of Life Cycle Costing

12/12/202212/12/2022 Study Notes Expert No Comments

Life Cycle Costing is an economic strategy that gives a longer-term view of the product line’s profitability. This method emphasizes the importance of tracking and evaluating costs at every manufacturing stage. This also aids in reducing manufacturing costs. The effectiveness of life cycle planning, cost information, and cost data are very high. Advantages of Life…

Marketing Management

Top 6 Organizational Capability Factors

07/12/202207/12/2022 Renu Saroha No Comments

When the organization’s resources are combined to accomplish multiple tasks, it creates capabilities. These tasks could include recruiting and selecting employees for research and development activities. The unique skills and knowledge that employees have within the organization generate most of these capabilities. Employees of the organization interact with clients to gather information. Also, various organizational…

Strategic management

5 Approaches of Strategy | Importance of Strategy

05/12/202205/12/2022 Study Notes Expert No Comments

Strategies plays an important role in the business. These are the outlines that help in achieving the long term objectives of the business. Also, in this article, we will discuss the approaches of strategy and importance of strategy. Approaches of Strategy Making There are many approaches of strategy. 1. Autocratic Approach The role of the…

Strategic management

3 Levels of Strategies | Scope of Strategy

03/12/202215/06/2023 Renu Saroha No Comments

The scope of strategy defines the position in the market as the company envisions it. In essence, it provides specifics of the industry or market within which the firm wants to investigate, or more precisely. Also, we will discuss the levels of strategies. Scope of Strategy The scope of markets in which the company will…

Strategic management

Nature of Strategy with its Meaning for Business

25/11/202225/11/2022 Study Notes Expert No Comments

The term “strategy” derives from the Greek term “strategia,” which means “generalship.” The term “strategia” came into the business world through military service in the first place. The nature of strategy explains in the next section. It is an outline of an organization that defines its vision and objectives and helps determine the next plan…

Strategic management

8 Importance of Business Policy | Limitations | Current Trends

24/11/202215/07/2023 Renu Saroha No Comments

Business policies play an essential role in the success of the organization. If these policies are not formulated properly, these are the limitations of business policy for the organization. In the later section of the blog, you will learn the current trends of business policy. Importance of Business Policy The importance of business policy is…

Strategic management

6 Techniques for Organizational Appraisal

20/11/202204/08/2023 Study Notes Expert 1 Comment

Techniques for Organizational Appraisal The techniques for organizational appraisal may classify into the following categories: 1. Value Chain Analysis Value Chain Analysis (VCA) is the method that allows an organization to recognize its primary and supporting functions that make the product more valuable. It also assists in evaluating these processes to decrease costs or increase…

Strategic management