What is Business Process
Business processes Business processes refer to the set of logically related tasks and behaviors that organizations develop over time to produce speci…
June 2013
What is Delegation? Definition of Delegation
What is Delegation Delegation is a concept describing the downward transfer of formal authority from one person to another. Definition of Delegation …
What is Authority? Definition of Authority
Authority is a manager’s tool that can be described as the right to commit resources (that is, to make decisions that commit the organization’s reso…
What is the Informal Organization?
What is an Informal Organization? The informal organization is a network of personal and social relationships that arises spontaneously as people ass…
What are the Factors of Production? Elements of Factors of Production.
The resources used to produce goods and services are the factors of production. The elements of factors of production are land, labor, capital, and e…
What is Value Chain? Value Chain Analysis
The value chain is the sequence of business functions in which customer usefulness is added to products or services. 1. Research and developm…
What is Financial Accounting? Definition of Financial Accounting
Accounting Accounting is the process of recording transactions and events that occur over time. It includes the preparation of financial statements,…
What is Management Accounting? Definition of Management Accounting
Management accounting measures analyzes and reports financial and non-financial information that helps managers make decisions to fulfill the goal…