An operating lease is a contract that allows a company to use an asset, such as a vehicle, for a set period of time. The asset is usually returned to the lessor at the end of the lease. Operating leases are typically used for short-term rentals, such as leasing a car for a vacation. What … Read more
A conglomerate is a large, multi-industry company. The term conglomerate is used to describe a company that is made up of a number of different, unrelated businesses. The businesses within a conglomerate can be in different industries and are usually located in different parts of the world. The term conglomerate is often used to describe … Read more
. Perfect Competition: Examples and How It Works What is another term for perfect competition? There is no other term for perfect competition. What is perfect competition What are its important features? In perfect competition, there are many small firms, each producing an identical product. There is free entry and exit into the market, and … Read more
In order to be successful, businesses need to understand their low-cost producers. A low-cost producer is a company or individual that is able to produce a good or service at a lower cost than its competitors. There are a variety of ways to achieve this, such as by using cheaper inputs, more efficient production processes, … Read more
Reading into business days means that you are taking into account the number of days that a business is typically open when calculating a timeline. For example, if you are calculating how long it will take to complete a project, you would need to take into account the number of days that the business is … Read more
Elasticity is a measure of how demand for a good or service changes in response to a change in price. Elasticity can be either elastic or inelastic. If demand is elastic, then a small change in price will lead to a large change in demand. If demand is inelastic, then a small change in price … Read more
Disruptive innovation is defined as an innovation that creates a new market and value network and eventually disrupts an existing market and value network, displacing established market-leading firms, products, and services. In business, a disruptive innovation is an innovation that creates a new market and value network and eventually disrupts an existing market and value … Read more
In business, a counterpurchase is an agreement between two parties in which each agrees to purchase goods or services from the other. The term is often used in the context of international trade, where one country may agree to purchase goods from another country in exchange for goods or services from that country. What is … Read more
What is Human Resource Planning (HRP)? Human resource planning (HRP) is the process of identifying the number of employees a company will need in the future and ensuring that the company has the right mix of employees to meet its business goals. Why is Human Resource Planning (HRP) Important? Human resource planning is important because … Read more
The phrase “when specialization matters” is usually used to describe situations in which a company or individual has a particular expertise or skill set that makes them particularly well-suited for a particular task. This can be contrasted with a more generalist approach, in which a company or individual takes on a wider range of tasks … Read more
