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Companies/Organisations Articles
Page 46 of 59
Understanding the Objectives of a Business Requirements Document
To get what we want, we need to accurately define it. Business requirements are the critical activities of an enterprise that must be performed to meet the organizational objectives while remaining solution independent.Here are some common questions which might ring a bell in you. Has a client ever told you that the product delivered is not performing as requested? Was there a change in the deliverable after beginning to build the product? Has there been a difference of opinion about end results from multiple stakeholders? Has there been new requirements requested after the product has been built?Preparing a good business ...
Read MoreThe Importance of Convincing End Customers in a BPO
For any business, be it retail, IT or reality, new clients are hard to come by. It often takes months of grueling follow-up with a prospective customer to actually get them on board. This is exactly why it is critical that we value customers we already have and work harder towards attaining fresh clients.Even the leading BPO companies face stiff competition from one another as well as new ventures, thus making customer retention as one of the prime objectives of a business.There are certain companies that are not affected if a customer shifts loyalty. However, the ideal scenario is one ...
Read MoreUseful Techniques to Conduct Procurement
It is quite common these days, to have the work outsourced to a third party vendor. Ask me why? Yes, one of the simple reason is that you won’t find the right talent all the time when you look at your internal staff – in the case of services. However, if your organization intends to buy products, then there is always the concept of make vs buy study which needs to be performed to get the cost effective benefit to the firm.Procuring the products or services is an art by itself. It takes a lot of analysis, research to finalize ...
Read MoreTop 10 Tools and Techniques to Estimate Project Cost
Estimating the project cost can be a scaring exercise for many managers. It is often seen that many project managers across the industries burn the midnight oil to prepare a perfect estimation. Despite all the efforts, when the project cost exceeds the estimated budget, they face a lot of flak from all the corners. Though a perfect and accurate estimation of project cost may sound like climbing onto the peak of Himalayas, but a near perfect, appropriate estimation can be done with the help of few proper tools and techniques.There are a lot of uncertainties associated with the project in ...
Read MoreWhat is the difference between Business Intelligence and Predictive Analytics?
Let us begin by learning about business intelligence.Business IntelligenceBusiness intelligence is an application-driven phase allowing organizations to analyze raw information from various sources, extracting vision that lead to higher effective business results. It is a set of tools and methods that analyze and transform raw information into actionable and coherent data for use in business analysis to support decision-making.Each business has strong transaction-oriented systems that save all information gathered from daily operations into repositories.It can stay competitive, businesses should rediscover and uses the data they influence, and this is where BI appears into play. Business intelligence can change vision from ...
Read MoreDifference Between Strong and Weak Entity
In this post, we will understand the difference between strong entity and weak entity −Strong EntityIt has primary key.It doesn’t depend on any other entity.It can be represented using a single rectangle.The relationship between two strong entities can be represented using a single diamond.It can either have total participation or no participation.Weak EntityA weak entity has a partial discriminator key.It depends on the strong entity.It can be represented using a double rectangle.The relationship between a strong and a weak entity can be represented using a double diamond.They always have total participation.
Read MoreDistinguish between contribution margin and gross margin.
The major differences between contribution margin and gross margin are as follows −Contribution MarginIt is used by pricing decision (whether product line is making profits or not).Contribution margin = difference between sales and variable costs divides by sales.It analyses profit metric per item.Only variable cost is considered for calculations.It determines the margin for production, where only variable costs are present.It detects variable costs and its percentage included in margin.It is useful for multiple scenario analysis.Gross MarginWhether production cost is covered by its sales or not.Gross margin = difference between revenue and Cost of goods sale/revenue.It analyses total profit metric.It considers ...
Read MoreDifferentiate between share outstanding and float.
The major differences between share outstanding and float are as follows −Share OutstandingThese are shares held by stakeholders, company officials and investors in public domain.Contains both stock float and restricted shares.Contains all shares of company held by its investors.It is used to calculate market capitalisation and earnings per share (EPS).It provides voting right and ownership right.Private or public limited company will issue these kinds.It has low risk.FloatIt is share issued by company to public and available to investors for trading in stock market.Contains only float stock.It is available for public.It acts as determinant of financial calculations.Won’t provide voting right and ...
Read MoreWrite the difference between discount rate and interest rate.
The major differences between discount rate and interest rate are as follows −Discount RateFederal reserve banks charges to depository institution/commercial banks on its overnight loans.Central banks decide the rate.It is not determined by market rate of interest.It determines present value of future cash flows.It focuses on investors view.The demand and supply has no effect on discount rate.Interest RateIt is an amount charged by lender to a borrower for use of assets.Commercial banks decide the rate.It depends on market rate of interest, creditworthiness etc.It can’t determine present value.It focuses on lender’s view.The demand and supply has effect on interest rate.
Read MoreCompare between Return on invested capital (ROIC) and Return on capital employed (ROCE).
The major differences between ROIC and ROCE are as follows −ROICROIC refers to Return on invested capital.It aims to find the return relative to capital which is invested in business.It evaluates profitability by considers only capital invested in the business.ROIC = Net operating profit/invested capital.Company said to be profitable, if ROIC is greater than zero.Measures after tax.It is more important for an investor.ROCEROCE refers to Return on capital Employed.Its main aim is to find return relative to total capital employed.It had very broad scope.ROCE = net operating profit/capital employed.Company said to be profitable, if ROCE greater than cost of capital.Measures ...
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